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Hurricane Energy's Aoka Mizo FPSO achieves 'first oil' at Lancaster

Wed, 05th Jun 2019 08:25

(Sharecast News) - British oil and gas firm Hurricane Energy completed the start-up phase of its Aoka Mizu floating production storage and offloading unit with a 72-hour production test.Hurricane told investors on Thursday that combined flow from both wells during the test period reached and maintained its planned production rate of 20,000 barrels of oil per day, marking the contractual provisional acceptance of the Lancaster field asset.The AIM-listed company now anticipates a gradual ramp-up in facilities availability over the first six months of production towards long term operating efficiency of 85%.Hurricane also restated its existing guidance for average production rates of 9,000 bopd for the coming quarter and 13,000 bopd for the half.Chief executive Dr Robert Trice said: "I am delighted to announce that first oil has been achieved and that the Lancaster field is now on production, beginning the phased development of Hurricane's considerable resources on the Rona Ridge."Looking forward, Trice noted that as much as 12-months worth of stable production would be required in order to provide Hurricane with "a clear view of the reservoir" and enable the firm to plan for the associated "full-field development scenario".As of 0825 BST, Hurricane shares had picked up 2.71% to 60.65p after notching-up an intraday high at 64.50p.
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16 Mar 2023 11:01

AIM WINNERS & LOSERS: Kooth wins US deal; Hurricane accepts offer

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

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2 Feb 2023 19:39

TRADING UPDATES: Lords sells business; Atome wins joint venture deal

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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12 Jan 2023 14:49

IN BRIEF: Crystal Amber Fund withdraws Hurricane Energy meeting demand

Hurricane Energy PLC - owner and operator of Lancaster field offshore Shetland - London-listed activist investor Crystal Amber Fund Ltd on Thursday withdraws requisition for a general meeting at which it had wanted to remove Chief Executive Officer Antony Maris, Chief Financial Officer Richard Chaffe, and Non-Executive Chair Philip Wolfe from the board and replace them with its own candidates. Crystal Amber Fund, a 29% Hurricane shareholder, had sent the requisition just before Christmas, but on Thursday said it decided to "pause" the requisition following the update issued by Hurricane on Wednesday on its trading and formal sale process. Hurricane said it had received "received multiple proposals from credible counterparties" by the offer deadline of last Saturday.

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12 Jan 2023 09:40

LONDON BROKER RATINGS: UBS cuts Beazley; Berenberg likes Rio and BHP

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

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11 Jan 2023 21:08

TRADING UPDATES: Blencowe gets ok for samples; Cornish hails results

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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4 Jan 2023 15:49

UK shareholder meetings calendar - next 7 days

Thursday 05 January 
AB Dynamics PLCAGM
AfriTin Mining LtdEGM re name change
Shield Therapeutics PLCGM re share transaction
Friday 06 January 
Gunsynd PLCAGM
Monday 09 January 
Angus Energy PLCGM re new ordinary shares authorization
Premier African Minerals LtdAGM
Yourgene Health PLCGM re capital raise
Tuesday 10 January 
Valereum Blockchain PLCAGM
Wishbone Gold PLCAGM
Wednesday 11 January 
Asos PLCAGM
Edge Performance VCT PLCGM re deed of release
Hurricane Energy PLCAGM
MetalNRG PLCGM requisitioned to remove chair and CEO from board
Synthomer PLCGM re sale of laminates business
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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23 Dec 2022 11:09

UPDATE: Hurricane notes Crystal Amber's plan to remove CEO from board

(Alliance News) - Activist investor Crystal Amber Fund Ltd on Friday requisitioned a general meeting to remove six directors of Hurricane Energy PLC, including the executives and chair, and appoint two of its own.

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23 Dec 2022 10:00

UPDATE: Crystal Amber Fund asks for board removal of Hurricane CEO

(Alliance News) - Activist investor Crystal Amber Fund Ltd on Friday requisitioned a general meeting to remove six directors of Hurricane Energy PLC, including the executives and chair, and appoint two of its own.

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23 Dec 2022 09:26

Crystal Amber Fund asks for removal of Hurricane CEO, CFO from board

(Alliance News) - Activist investor Crystal Amber Fund Ltd on Friday requisitioned a general meeting to remove six directors of Hurricane Energy PLC, including the executives and chair, and appoint two of its own.

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23 Dec 2022 07:50

LONDON BRIEFING: Stocks to start half-day positively despite weak lead

(Alliance News) - Equities in London were set to open a shortened trading day in the green on Friday, despite indices falling in Asia and the US.

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25 Nov 2022 14:29

Hurricane Energy plans USD70 million capital reduction programme

(Alliance News) - Hurricane Energy PLC on Friday said it is planning for a capital reduction programme to distribute reserves to shareholders.

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18 Nov 2022 14:48

Hunt's levy changes to have little effect on Hurricane Energy

(Sharecast News) - Hurricane Energy responded to the Chancellor's autumn statement on Friday, which contained changes to the Energy Profits Levy (EPL).

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18 Nov 2022 14:00

IN BRIEF: Hurricane Energy seeing bid interest; updates on UK tax hit

Hurricane Energy PLC - Surrey-based oil and gas producer in fields offshore west of Shetland - Notes UK government announcement which increases energy profits levy to 35% starting January 1, 2023, from 25% currently. Firm says the tax on surplus profit will cost it less than USD5 million in 2022. Hurricane says it is assessing the impact of the coming changes.

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2 Nov 2022 12:21

Hurricane Energy launches formal sales process after unsolicited offer

(Alliance News) - Hurricane Energy PLC on Wednesday urged shareholders to vote against an unsolicited indicative takeover offer it received, citing a low premium to its share price as it launched a formal sales process.

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2 Nov 2022 10:45

AIM WINNERS & LOSERS: Hurricane hangs 'for sale' sign; Bonhill slides

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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