Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Production now at a steady 17000bpd over the year. Onward's and upward's
https://www.petroleum-economist.com/articles/politics-economics/europe-eurasia/2019/treasures-in-the-basement
Hi Daltry
Hurricane use the comparison in their own literature
https://www.edisoninvestmentresearch.com/?ACT=18&ID=14493
and from an independent source:-
https://ukdigest.canadiandiscovery.com/stratigraphic-investigation/basement-reservoirs-ukcs
:-)
Hi Daltry, i very quick rebuff, please explain?
This is a very interesting link from fractured basement that has already produced long term.
• Oil discovered in Fractured basement of Bach ho oil
field on May 1986 in Cuu long Basin, Vietnam
• Start producing Start producing from basement: asement: 25 11 1988 5.11.1988
• Production rate: 250,000-300,000 bopd
• Cummulative production ummulative production upto date: upto date: ~1,200 MMbbls
This is where Hurricane is heading.
http://www.ccop.asia/eppm/projects/21/docs/Vietnam_Fractured_basement.pdf
And all for just another cold virus https://www.youtube.com/watch?v=LsExPrHCHbw&feature=emb_title
View from a Caribbean island
We have had free movement of people on and off island up until ten days ago. The island has exchange students in Wuhan China and a large island population living in New York with constant movement back and forth. An American university, along with tourist from all over the world. One of our neighbours mother and son brought back a nasty cold from New York and this ran through the area where I live in January, it started with a fever and fatigue followed by a brief stomach up set and a dry hacking cough that lasted for about a week. Everyone recovered, some cough were very persistent. This is a common story all over the island; there is a life expectancy of around 76 years.
Our first confirmed and test corona virus patient on island was a British holiday maker that arrived in mid March and was test positive a few days later. This was the first testing done on island. In the tropical environment viruses’ are generally mild affairs. It is Dengue, chikungunya and Zeka that lay people up.
The island now has a 7 day 24 hour lock down. Closing the stable door after the horse has bolted comes to mind.
With current testing policy only really sick people get tested, the vast majority of cases will never come in the statistics, this is the case world wide.
Your message is on the money and looking at the bigger picture. Two very good links:-https://www.spectator.co.uk/article/The-evidence-on-Covid-19-is-not-as-clear-as-we-think?fbclid=IwAR3d-BaqfPgEB7aXgEBw-hQHn6cqO1p4eK2tMJ_aDzSM8vflqyNqpy-ZStY https://off-guardian.org/2020/03/24/12-experts-questioning-the-coronavirus-panic/?fbclid=IwAR3T8nAq0HVK-xd_ObNK8jicpfXt45LaPTAPDL6g-G2VSfn6GT0ZYqD1Wjo
finally some one with insight into the the true nature of what is going on with this virus. This really is story of The Emperor's New Clothes.
Hi good message, the problem with the numbers is they only include people who have bee tested, the vast majority will have had the virus and not be in the figures, the death rate would be very lower for the under 70s, and a many old folk pass away due to the complications of a common cold.
Are you over 70 years old with a heart or lung issue? If you are keep safe, if not relax, this virus will not kill you.
MCB55 you have this information from some informed platform??
I think you miss the point. The cash in the bank is greater than the share price valuation of the company, there is a fantastic opportunity for a company share buy back. Even at this very low oil price Hurricane is still banking cash. The longer term development can wait. Even at an oil price of $30, the free cash generation is $62.50 million dollars per year. More than enough to fund current commitments.
Irrational panic,
Would like to buy back in but with a £500m RI in the wings and a £160m market cap the dilution will be brutal,
Cash in hand very close to Market Cap. Could be a few more rough days, but only heading one way in the long term, great not to be carry lots of debt.
Have always been very positive about PMO. Unfortunately with current share and oil price and a large Rights issue in the wings it is difficult to hold these just now.
Saudi look like a busted flush, maximum previously pumped per month 11.30mbpd. Big talk early showing a week hand.
Overview
In July 2017, Hurricane issued US$230,000,000 in 7.5% convertible bonds due 2022 (“Convertible Bond”). The Convertible Bond was issued at par and carries a coupon of 7.5%, payable quarterly in arrears. The Convertible Bond is convertible into fully paid Ordinary Shares with the initial conversion price set at $0.52, representing a 25% premium above the placing price of the concurrent equity placement, being £0.32 (converted into US dollars at USD/GBP 1.30). Unless previously converted, redeemed or purchased and cancelled, the Convertible Bond will be redeemed at par on 24 July 2022. The Convertible Bond was admitted to the Official List of International Stock Exchange in September 2017.
https://tradingeconomics.com/saudi-arabia/crude-oil-production
Do the numbers for Saudi. January 2020 production 9,733,000bopd at average oil price $63.83=$621,257,390 oil value.
The highest ever Saudi production is 11,093,000bopd let us assume this is still possible and do the numbers for them.
11,093,000bopd oil@ $60 =$700,618,800
11,093,000bopd oil@ $50 =$583,849,000
11,093,000bopd oil@ $40 =$467,079,200
11,093,000bopd oil@ $30 =$350,309,400
Oil will not stay in the $30s and $40s for long.