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BP are selling out tired assets to Pmo, decommissioning is a big issue. BP already has assets west of Shetland, Hur sits just next door, Shell also has an interest in blocks next door. With the new boards expertise in sales and take overs, this will be sold within a year, unfortunate this is why RT had to go.
Kerogen have replaced Roy Kelly, with Dr Parsley who has 50 years experience with Shell, could indicate what's going to happen, Shell hold the drill blocks next door
Looks like a strong commercially focused team, easy to see a take over happening on the cheap,
You are valuing this as a production company, the eps is about proving up the field for a full field development, the eps covers costs while proving up an asset worth billions of dollars
Hi Barbob, from one broken record to the next, your needle has been stuck for 1220 revolutions. Get a life and run along.
Hi Barbob, The idea of this board is for investors to share views and information on shares to aid investment decisions. You are not invested. You have 1221 posts trying to deramp Hurricane. I will as you again why are your here? do you get paid? any other reason and you are a very sad character.
Hi Barbob The question is, why are you here? you are not invested, you have an agenda to damage the value of Hurricane. The only rational answers is you are paid to provide this service, or you are a very sad character without a life, which is it?
Barbob, not sure why you have turned up again, last post you did not know how many shares Robert Trice held and now your the expert for holdings from other major shareholders and their trading plans!! its a sad life to be here on a Saturday when you are not invested, hows the pay?
Hi Draft, the issue was nothing to do with watercut, the two wells operating together and being so close was causing flow problems, see adoubleuk posts for a better explanation.
Looking at the fair value for Hurricane. We are still in the process of proving the reservoir , if and when the CPR comes up with proven reserves of half a billion barrels the idea of a 20p or 30p take over will seem absurd. This is why Crystal amber and Kerogen have invested in the Hurricane concept; these players are here for a major pay day. The share price in the short term will be governed by the flow from the one well working. There is nothing wrong with the reservoir both wells have flowed individually very effectively. Hurricane has the funds to drill a new well if necessary to make full use of FPSO. The scale of the potential resources are massive and this is what attracted most investors into this project. At current oil price and 15000bpd Hurricane has a turnover $210 000 00 and free cash of $71 175 000, and an ongoing self fund business model to prove up the resources. Why would you trade a 20p pay day today for a pay day in the £s on proving up the project? If you don’t believe in the concept, why are you invested here?
Barbob, your reason to be here is as a full time deramper, move along from your sad existence.
Robert Trice, 26,590,897, £1,802,863 share holding, again just sad deramping, The CEO has plenty flesh in the company.
Hi Longwait, there has been a concerted effort to deramp Hurricane since production started, you can see it in these chat sites, and across the the oil press. This type of pressure was put on Ithaca Energy a few years ago take the price down to 17P before the company was taken over with a low ball offer of just over £1. Hurricane has the assets, it is making money, the prize is massive. The opportunity to get this prize on the cheap will motivate, it will be interesting to see who is picking up shares. This has been in a range since the reduced production. If you honestly do not believe in the Hurricane story move on. It is sad to see the energy put into damaging the excellent ground break work of this company.
Bartlebobton, may be that is why Stobie is no longer with hur. He should have been writing articles telling the world of the returns they should be expecting with hurricanes massive asset base, rather than talking down the oil market, still just a sad and pathetic deramp.
Hi Bartlebobton, good afternoon, I see you are still following your sad agenda, trolling up old articles, nothing changes. The Hurricane story remains. The EPS produces oil at low cost, it is still flowing after a year. Oil fields need wells and Hurricane may need to drill a new well, that is the business.
Hi Sudnal, good to be looking at valuations, your numbers just reflect the current set up for the EPS, there are all the other Hurricane assets available, one faulty well does not change this. We live in an age of panic and dis information, the big picture is still very positive.
Good Morning Foresight, this is the part of the return for you Achieving this target rate at a sustainable level has not been possible as the impact of increasing production rates resulted in instability in the flow regime on the 205/21a-7Z well as a result of interference between the wells. This has led to a decision to shut-in the 205/21a-7Z well for the time being and return to a period of testing maximum sustainable rates from just the 205/21a-6 well. The water production from the 205/21a-7Z well at the time the instability was experienced was in line with the water production that had been seen over the previous weeks. There is no issue with the oil flowing, just the location of the well bores very close together. The solution is to drill another well. There is no shortage of reserve to tap.
It is a very disappointing day for all, these director buys are just three weeks old, the oil is still pumping, it looks like a new well is required, these things happen with oil.
29-Apr-20 Buy Sandy Shaw 11.29 GBX 44,297 44,297
29-Apr-20 Buy John van der Welle 10.28 GBX 50,000 204,159
29-Apr-20 Buy David Jenkins 10.40 GBX 50,000 303,338
29-Apr-20 Buy Steven McTiernan 10.83 GBX 100,000 475,000
Longwait exactly right, much much more than 30p, in the three figure club.
why we hold these shares:-
When you look at the hurricane story we are in the early stages of proving up a massive amount of oil resources that will be worth many Billion dollars. The early production systems is profitable at these oil prices, and the money keeps going in the banks and the proving of the field continues. bartlebobron what ever your agenda it does not change this, just a sad life!
Halifax well and assign 2C Contingent Resources of 1,235 MMboe to the Halifax licence (P2308).
In their 2017 Competent Persons Report, covering Hurricane's Rona Ridge assets excluding Lancaster, RPS Energy concur with Hurricane the possibility of connectivity between the two structures, but have elected to take a conservative approach by evaluating them as separate structures, at least until a well is drilled at Warwick. They consider the potential for sealing faults in between the two structures and splitting the Warwick structure in two, based on seismic and gravity map data. This is shown on the image below (Figure 7.7 from the December 2017 CPR).
RPS model a range of uncertainties in the CPR related Warwick, assigning Best Case Prospective Resources of 935 MMboe to Warwick (gross), with a 77% chance of discovery.
RPS Energy concur with Hurricane regarding the isolation of Lincoln from Lancaster in their 2017 Competent Persons Report (CPR) that covers the Rona Ridge assets excluding Lancaster. Whilst RPS concur that the GWA could have the same contact they have elected to take a conservative approach by evaluating them as separate structures, at least until a well is drilled at Warwick. Consequently the CPR assigns 2C Contingent Resources of 604 MMboe to Lincoln (gross).