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slift - in annual report released in april - it was in trice's bit at the beginning from me.mory
Hi CaptainSwag,
Just curious, where is this from?:
"slift - @ 18000 bod - A Brent price of $26 per barrel
covers the Company’s operating costs as well as its general and
administrative expenses and the coupon cost of the Convertible
Bond"
The $37m is before the cost saving from the rig is applied. With the early termination of the rig, the EBITDA is $45m.
slift - @ 18000 bod - A Brent price of $26 per barrel
covers the Company’s operating costs as well as its general and
administrative expenses and the coupon cost of the Convertible
Bond
lets say that goes up to $30- 32 at 15000.. and we use an average oil price of $42
183 days x 90% x 15000 bod x $ 10 profit = £24.7m profit for 6 months
i am on a phone so wont attempt the work out the first 6 months with variety of oil prices and productions
obviously the recent hedge has increased expenditure but there were probably savings as well during lockdown - apparently trice was a big biscuit eater so another saving there
so your figure of $37m is not unreasonable in my view
They still have considerable tax relief to use
Now let’s talk production cause that’s whats important
15k and rising once the rns comes out telling us what the clever people have been doing with the pumps
Cash generation and lots of it
A share price that is insulting for such a field producing the way it is
I ignore the noise and concentrate on facts
Sorry lift you let yourself down again and fell into the trap
Well done
PlantedBHA,
lol okay, it was $55/barrel mate.
Rather than living on hopium, why not try and understand the risks and what it means for the company?
Seems like most people here just want all the positive facts with all the negatives hidden.
Slift
Your right
I know nothing about hurricane
I know nothing about the oilfield
I know nothing about Lancaster
You on the other hand are obviously very knowledgable
I bow to your knowledge
"Sounds dramatic considering you have no knowledge of this ?"
Sounds like you have no knowledge of this.
Go on PlantedBHA, let's see if you know something about the company other than the revenue equation.
Do you know the price of oil assumed by the company when they evaluated resources and assets?
Take a big hit?
Mmmmmm
Sounds dramatic considering you have no knowledge of this ?
Downgrade ? No knowledge
Let yourself down again
Net earnings are likely to be negative after you take into consideration interest (c.$15m), tax, depreciation and amortisation.
In terms of balance sheet, HUR will take a big hit on impairments due to oil price and the material downgrade of 2C contingent resources on assets.
ok understand what you've done
Hi fandg2,
The 5% is kept in inventory, and sold at a later date.In the calculation, 95% of all oil produced is sold, and 5% is kept in inventory at the end of the year to be sold in 2021.
You only generate revenue on the oil you sell, and when kept in inventory, it's just oil, not $.
Slift.
"Total Revenue for the year (assuming 95% sold): $196m"
Again, not being picky but BP buy 100% of HUR's oil
Yes you're right.
The initial cost of the rig would be accounted for in OPEX.
The early termination of the rig would decrease OPEX cost by circa $7-8m (at 50/50 with Spirit).
Slift
How much have you put in for the rig cancellation charge?
I'm not trying to be awkward but I just can't see were. You have other costs which include the 3.4 put but I would have thought that the cancellation charge is likely to be much more than $6.6m even if it is 50/50 with Spirit.
The following calculations are based on assumptions and should be taken with caution.
To the end of June, estimated Revenue at $99m.
Going forwards, assuming 15k bopd, $43 Brent and 90% uptime for the rest of the year:
Revenue Jul to Dec: $107m
Production (including inventory): $206m
Total Revenue for the year (assuming 95% sold): $196m
OPEX: $112m
CAPEX (install+commissioning of ESPs, well shut ins etc and assuming limited CAPEX H2 2020): Est. $25m
Staff costs and G+A: Est. $12m
OTHER costs (including hedge) at Est. $2/barrel: circa. $10m
EBITDA: $37m
EP/S: 1.47p
P/E Ratio: 3.9
Slift.