Member Info for adoubleuk

DC,

"Any thoughts on the new BP CEO?"

Yes. Despite having 'Drilling Engineer' on his CV, he's OK.

"Will he be HUR friendly?"

I suspect he'll 'interact' far better with Dr T than bl**dy Dudley.

MT,

"Probably some sort of survey for the tie ins next year"

Agree.

miker,

"Don forget Steve & Sachin have every intention of distributing dividends, probable share buybacks, and cash returns ( already voted on) so a lot of us will be siting pretty. "

Can I see that in writing from the CEOs themselves, please?

francobrett,

"it's not 30m it's 20m if that makes a difference?"

Sorry, my mistake. Must have mis-read the RNS.

But frankly, no, to my mind it makes no difference. Same order of magnitude.

Maybe I'm thick, but something just doesn't feel 'right' to me about this upcoming fundraise.

Two years ago, Hurricane Energy did a record-breaking fundraise. 'Record-breaking' for an AIM-listed O&G exploration company. They raised a bit more than 500 million to finance their EPS, and did so with a mix of shares (equity), bonds, and warrents. The SP had been running (if memory serves correctly) in the high 40's as a whole beforehand, having hit an unrelated spike of 67p, but fell to the issue (placing) price of 38p or thereabouts.

Now S&S want to raise 30 million, but RBD's SP is only something in the order of one penny.

It seems to me that if they achieve this feat, it will be something of a 'record-breaker' as well.

Now people are suggesting that they must be approaching potential investors with some 'pre-CPR' information about West Newton or Parta. But surely, if such a 'prospectus' exists, don't other existing shareholders have a right to see such 'inside information' as well?

Maybe I'm being naïve. But I look forward to an explanation by the CEOs of exactly how this fundraise is going to work. I thought the West Newton EWT was already funded, and without the EWT results (even in an interim form), just some word-of-mouth "this is bigger than Wytch Farm" isn't going to get many cheques signed. Or at least, not mine.

OK, feel free to shoot my argument down in flames, fellow posters! But if everything was going so swimmingly beforehand, why does the company suddenly need 30 million more to float the boat?

2kally,

" I also have a decent wedge in here and also RBD & UJO, I know I'm a little "oil heavy" but what the hell, lets hope we hear the singing before too long lol"

I'm also in RBD (though not UJO, though of course follow their movement closely because related), and they were both UP yesterday by 10% and 12.5% , respectively.

Which casts doubt on the idea that HUR's SP moves of late are purely due to 'market sentiment' regarding AIM-listed O&G shares.

Waterbear,

"I like rhubarb too."

It seems to be a very 'English' thing.

The little town-centre mini-market shop I frequent on an almost daily basis introduced rhubarb yoghurt on its shelves about a year ago, so I bought it, rather than my staple cherry sort.

But I reckon I was the only puchaser, and it's no longer on the shelves.

It's also extremely rare to see a rhubarb-patch in a French vegetable-garden. Maybe because the French consider rhubarb to be the province of English prime ministers, and the taste is too tart.

ShenomadMan,

Welcome!

Yours is a very interesting post, on a subject which has interested me, but kind of sort but 'bottom drawer', due to lack of information.

But the way Shell has 'coralled' surrounding licences should not go unnoticed. By people actually interested in the 'Hurricane Story'. Not by the passers-by.

https://www.youtube.com/watch?v=z7pCD827wB4

LadyS,

""FTSE 100 leads major fallers as European shares take a hammering amid global gloom"

Yes. And that is of course the elephant in the room. This is a Hurricane BB, not a political forum. But looking a UK 'news' objectively from a distance (across the Channel), things seem almost as messed up as they could be, and things will probably get worse before they get better. I suspect foreign investment is behaving like the mafia blokes when they say goodbye to Harold Shand at the end of 'The Long Good Friday'.

And globally, things aren't much better.

We live in interesting times, and of course the stockmarket is usually the first to suffer when things are turning pear-shaped.

Gold is moving back up again, of course. That's usually a good indicator of general economic uneasiness.

LuckCounts,

"This share defies logic - and I am now getting fed up and feel exhausted holding for 2 years..."

I'm not sure it does. Though I agree with your 'exhaustion factor' feelings!

Though what DID defy logic was the 67p spike a couple of years ago.

A few months after that, someone (I forget who) posted here that he (or she) expected this to settle into a mid-forties sort of SP post-FOIL. Such thoughts were pooh-poohed by many here, but it appears to be turning out correct. Unfortunately for those who imagined 'ten-baggers' and suchlike.

In some ways, the share is now without the speculative 'excitement factor', and has settled into a classic post-development 'into production' slump in the curve common to many mining or O&G companies.

Now it may be argued that the EPS doesn't represent 'development' nor 'production'. But three tanker offloads already with a fourth to happen (one assumes) soon, belie that idea. Hurricane is no longer a frontier-pushing exploration company, but also an oil producer, and one which doesn't pay dividends.

Sure, there is GWA and the ongoing drilling funded by Spirit. We hope that Warwick West will turn out good. But Spirit isn't publicly share-issued, so such success might only be marginally be reflected in the SP.

Plus there's also the dreamscape of a takeover by a major, instantly boosting the SP by orders of magnitude. But the more things go, the more that particular little scenario seems to be fading into the distance. The thing being, Hurricane's been doing things so well, there's absolutely no rush for someone big to wade in for now. Sure, maybe there's a billion or so bbl of oil down under Rona Ridge to be sucked out. The (so far overperforming) EPS setup is just scratching the surface, with an expectation of 37 million bbl or so. But that's a nice little cash-generating operation, and it's not as though the remaining mega-millions are somehow going to disappear overnight unless moves are made pdq to exploit them.

I find it a bit sad to see the rather gloomy (though obviously not 'doomy') feelings being expressed here. The BB's changing tack a bit. But maybe it's to have been (with hindsight) expected.

The bottom line being, Warwick West excepted, what is the next bit of news? The CMD next year, telling us EPS has outperformed, and Fractured Basement is a 'goer'? Fine, if that's how it goes. But what if such an outcome has been already 'priced in', and it won't come as a surprise to anyone? That the 'naysayers' sitting on the fence don't really exist, or at least play any significant rôle regarding market SP movements?

I personally think Malcy's £1.50 is a very long way away.

I don't know if this is relevent to yesterday's drop, but there was an article on Friday on the share prophets site painting Reabold in a bad light. Sorry, can't give a link nor quote it, but for subscribers there it is worth a look.

Mandrill,

"The climb back will be very slow."

I fear you're probably correct. The gloss has certainly gone off this share, which has become nothing but a traders' paradise for the likes of CA.

I see that sentiment being echoed here by others on this BB, though I'd contend there's no similarity with SOU. There's nothing wrong with the HUR story based on technical fundamentals.

Of course there's no sense in getting emotional and selling at this low point. But once the current drilling campaign is finished, I'll personally be taking a long cold look at whether I can afford the sheer grind of remaining 'in' here (which is menatlly stressful), or bailing out.

I see nothing the BoD can (legally) do to 'ramp' their share, and it seems to me that the SP has ceased being meaningfully news-driven.

Genghis,

"There is no consent, and will not be, for flaring any gas from GWA, only Lancaster EPS"

That's a rather extraordinary assertation. On what do you base it?

Production on GWA (other than a tie-in of Lincoln to the AM) is a long way away. An Environmental Satement has not yet been put together for it, do how do we know what the gas proposals are?

I would anticipate that gas flaring will be kept to a minimum, within whatever regulatory guidelines are in place when the time comes. But I have yet to hear of any 'zero flaring' policy being mandated on the UKCS.

Sure, an oilfield flare is a rather hot thing: you don't want to stand too close to one. But it doesn't contribute to 'global warming'. Things would be seriously worse if the gas were released to atmosphere without being burned!

DrBB,

"Is it actually a case of Petrofac screwing up or is it more simply that the drilling of these FB's is technically difficult to carry out?"

The casing screw-up on WD occured before the bit had even entered the 'hard rock'!

The actual drilling of the horizontal section must be 'interesting', though. Hard rock always is 'interesting', but personally I've never had experience of drilling hard formation horizontally. Rotary torque must be quite high, with all the headaches that can cause.

johnpwh,

"Next offload ain't due for a couple of weeks. What garbage can we talk about till then?"

We can shipwatch, I suppose. Within the next couple of weeks the rig should be into drilling the 12-1/4" 'buildup' section, which is where Petrofac started screwing up when it came to running casing on the last well... A supply-boat heading for Scrabster is generally not good news.

Wellwell,

"Do you think they made their money by trading or shorting or via the warrants they took up?"

Not by 'shorting', that's for ceratin?

Ca has made money via their warrents, but more specifically, via trading.

And that's the thing.

It's horrible for we PI's with relatively 'small' holdings, but people like Bernstein or others with relatively large hodings can 'walk' the SP around to their heart's content, and reap the profitd threreof.

The presences of CA as a 'majior shareholder' but one xhich mecilessly trades annoyys me intenSely; But her'dw owt I can do about it.

Wellwell,

"I’d love someone to specify a point in time that Bernstein became responsible for today’s share price ! He’s barely sold a share for longer than I can remember yet somehow singlehandedly is responsible for everything because he pointed to a potential governance issue years ago"

I'm unable to specify a particular point in time.

There was once a poster here who called himself 'Carnegie', who warned people about Crystal Amber as being a major shareholder. Unfortunately he also mixed that up with all sorts of paranoid rambles about 'algorithms' about which he knew little, got things rather mixed-up, and also became personally insulting, so 'disappeared'. Maybe insulted too many people and was 'reported' too often. Whatever.

But in his ramblings, he wasn't entirely wrong. Especially when it comes to our favorite puppy, Crystal Amber.

That outfit has posted their half-yearly recently, as has Hurricane.

Who has made the bigger cash profit?

Crystal Amber.

Purely on the trading of Hurricane shares. To the occasional distress of PI's, but what the heck? Neither Hurricane nor CA are in the business of pandering to the desires of retail PI's, are they?

These are facts,, and the simplest explanation for what's been happening to the SP of late. CA is an Albatross around this share's neck, now, and there's eff all we can do about it.

Which is a real shame. Because what Hurricane's doing is game-changing, ground-breaking stuff. It's important.

But were I in Bernstein's shoes (which I'm not), I wouldn't give a fig about the fundamentals, but would continue the trading strategy which he does.

Tough sh*t for we small people.

I love the story, but I'll be 90% out on the next 'spike', whenever and whatever it may be. Because I'm not interested in 'producer' companies which don't pay a dividend, and prefer riskier things, personally.

Like driving 200km back from Périgueux on Sunday, but nevertheless back playing poker on the coast, Monday evening!

Wellwell,

" it was you yourself who gave your name away a long long time ago. AdoubleUk."

Yes. But of course. It's an easy akronym to decipher. A personage well-known and infamous once in the N.Sea and surrounding oceans, but also assorted deserts ,jungles, and innumerous lowlife bars. Who once won a bet being able to run a stand of drillpipe with a National 1600 blinddold. (ie run up, latch, stab, makeup, pick out of slips, run in and set). But that's cos I had a good crew who knew what was happening.

No spring chicken.

But 'Andy' still remains for good and close friends. Or young Frenchwomen.

Btw,

The music also features 'The Killer' and Chuck Berry.

Let the good times roll. Only sixty-five days or so before we know whether WW is any good or not. I'm in a place where nobody can find me, but will emerge to meet some old-time caving friends soon. Mushroom-searching tomorrow.

Stuff the current SP, and a curse on Bernstein and the horse he rode in on. Though grudging thanks to him for having bankrolled the whole circus when it started.

https://www.youtube.com/watch?v=93y9wfB3EM8