Member Info for adoubleuk

johnpwh,

"What did you make of the water cut, remaining at 7.5% despite the fact that both wells were contributing to the single flow lines output - does that not concern you given that one well was not showing water (perched or otherwise) at the time of the CMD?"

I am a bit perplexed, and have read posts by others here on that particular subject. Because as some people have alredy said, today's RNS seems to be in slight contradiction to what was said at the CMD.

OK, I don't wish to sound 'authoritative' on this. But that Dr T said that it was only one of the wells producing with a slight water cut implies they'd already obtained that data. Because HUR tends to tell the truth (!). So maybe whatever forced the use of just one flowline happened subsequent to that. And of course we don't know what that was. Maybe a pig that got stuck: I don't know. Or some loss of pressure integrity. Or a jammed valve in the manifold.

So it all seems a bit ambiguous. At the CMD were they referring to an 8% water cut relative to total (two well) production, but didn't explain it clearly? Again, I don't know.

But the water cut is something that doesn't worry me. The company is adamant that it's 'perched water', and not breakthrough from the aquifer, that WOULD be worrying. Again, though, I don't believe the company's pulling wool over our eyes in this respect. They could get into big trouble were that the case. And it's easily verified. Having made contact with the aquifer during the '7 wells' pilot hole, they'll know the chemical 'signature' of the aquifer water, and it's evidently different from that 'perched' in the reservoir.

Again, though, there's something else which puzzles me, and that's today's mention of only just commissioning the 'produced water' equipment. It makes me wonder what they've been doing with that already produced to date. Because there's utterly no way it's been pumped to a tanker! And I doubt it's been loaded to a supply boat, either.

As others have noted, we've had some technical detail which is 'news', but not really in quite enough detail, so questions like your own get raised.

Sure, nobody expects everybody to be 'oilfield conversant', and quite possibly a lot of people aren't too interested, or just might not understand the details. But without criticising the company, some greater detail might be nice to know.

I guess we'll find out such stuff further on up the road, maybe in further presentations published on the HUR website. But either way, as I've posted earlier, there's nothing in the RNS to cause me concern or worry. That's just personal opinion, of course.

SotB,

"ADUK:The beasts hinna been stopped cause they hinna been started........ cmon !"

Once again, please re-read my post, maybe to the end, this time.

You're simply repeating exactly what I wrote, though including some weird 'highland' language...

:-)

***

"completing"

'completion'. This 'predictive text' thing is getting on my nerves. And I thought I had it disabled.

Genghis,

" "Shut ins don't cost money". Of course they do. Lost production is lost production.

A big 10-4 to that.

But data is data, it's INFORMATION. And although acquiring that data will cost the company money in 'lost production' terms, I think it can be safely assumed that the money 'lost' will be repaid multiple times over in the future.

'Shut-ins' can also have potential 'hidden costs'. Because an oilwell isn't just a hole in the ground. It's a construct, a machine. The production completing string contains all sorts of devices incorporating moving parts, rather like the engine of a car. And when you shut down the engine, you can never be 100% sure it will restart when you want it to. Or a lightbulb. Are you 100% sure when you flip the switch, it won't go 'pop'? Of course not.

There's one very happy thing about the EPS so far, and that's that the two wells are producing naturally (at quite a staggering rate), and the ESP's (Electric Submersible Pumps) haven't yet been called into play. So a shutin of a well doesn't involve shutting an the ESP down. Because although the technology has evolved enormously (in reliability terms) over the years, those beasts don't like 'start-stop'.

PS I WAS a signed-up member of LSE's 'premium' thing, but it fell pretty much into disuse regarding HUR. Then my subscription lapsed because I'd got a new bank card, and the only way I could re-subscribe was at the new rate, so didn't bother, 'cos I no longer need the bells and whistles.

**

" I wasn't anticipation..."

'anticipating'. bloomin' predictive text... (wrong, as usual)

johnpwh,

" I would be interested in his take on the days RNS"

That's kind of you: I feel flattered.

As you can see, contrary to rumour, I have not been banned from this chatboard. But I know I'm sailing fairly close to the wind, especially when I submit posts like the one in the middle of the night, rashly admitting to driving well in excess of the speed limit on what is quite a small (but straight) country road. That post has 'disappeared', but I hope nobody thinks I was encouraging anyone to follow my example,and driving recklessly fast. It's simply that sometimes when I 'get the blues' for whatever reason, I occasionally let of steam by doing something completely irresponsible. And at that time of night there was no other traffic about, anyway. So just my own neck on the line.

I found today's RNS interesting in a number of respects. For starters I wasn't anticipation an announcement of TD having been reached on LC. Because it isn't (to my mind) 'price-sensitive'. But I suspect that the company included that news because they felt they had to update on the Lancaster EPS, so simply included the Lincoln update as a 'freeby'.

The Lincoln timing as as expected, so maybe a flare sometime this week.

I also find it interesting that the horizontal section is 'only' 720 metres long, unlike the Lancaster 1000m, but can draw no conclusions from that.

Regarding the EPS and the FPSO, there have obviously been some 'hiccups'. For instance production to date having been through just one flowline. But no clues have been given as to why that was the case.

I'm also rather surprised to learn that the fuel gas compression equipment is only just now being commissioned. But again, there's no information why.

All in all, though, all the news seems to be 'good' , and there's nothing there to give cause for worry or doubt.

Except as usual, we receive good news and the SP drops! And people wonder why I 'get the blues'....

Cebo,

"Guys, get a life FFS, remember this is a faceless BB and by dragging up the same boring bitter crap time and again every weekend may be construed as being a true reflection of your own existences."

You forgot to mention the gals....

And anyway, what's all this 'faceless anonymous' stuff? Balls, people meet at AGM, etc, or elsewhere. Sure there are a lot of others (trolls, etc) on the BB, but equally there are others who may not have met, maybe never will, but share a certain affinity because of their posts, and of course their interest in HUR.

Liighten up, man.

It's the weekend, so I'll go OT with a bit of music.

https://www.youtube.com/watch?v=U0x-roiC49I

ash666,

"I only have a faint recollection of asking my broker something years ago about either buying and selling stages and they said it might be misconstrued as market manipulation. Huge companies could earn a fortune doing it, especially if they got in cheap in the first place."

Yes, but 'market manipulation 'as such isn't a crime! Everyone does it, because everyone wants to make a bit of money. Same as the greengrocer's stall: set a price, hope to undercut someone else and thus get more customers.

No sweat.

Glad to see you're continuing this discussion, though, because it's something which obviously interests you (and a few others), and my post referred to a way I reckon part of this (AIM) stockmarket maybe works. And why the SP (like here) seems totally illogical.

But in my earlier post, I only mentioned the (hypothetical) big shareholder 'walking the price down' in anticipation of good news, and thus making a profit on the rise. It's what (as we know) CA does, it makes people like me grind our teeth, but we have to live with it. It's not illegal.

But there's another side to that coin. Which has existed since the stockmarkets opened, more than a century ago. And that's the big longtime shareholder who does the same thing, but isn't expecting good news, but bad news instead. So sells in the same way before such news emerges. And then of course buys back in on the dip.

Which isn't illegal, neither.

Unless, of course, the trading action was taken as a result of 'inside information' obtained by the trader which hadn't been publicly disclosed to all other shareholders in due time.

At which point it merits investigation by the FCA, but given the apperance of that body to be a bunch of incompetent halfwits who never come to a conclusion, let alone send anyone to prison, it's a lost cause pursuing the issue.

brrr,

" I enjoyed Ricfle's sharp witted posts over the years"

Did he post one? I must have missed it. My recollection is of a series of dimwitted dross, answaering every question with a further one, rather like a politician.

ash666,

"However, what you suggest would be classed as market manipulation and hence illegal."

No, I don't think so. It becomes illegal when the shares (or transactions) are fictitious and no actual 'trade' actually occurs. The thing of which Burford is accusing Muddy Waters. The thing I described is different.

chablard,

"Spot on Adouble"

Not sure. But fairly close to the mark, I think. And there are are people with big holdings here who might not like that.

Hey! I don't care. Just waiting for an RNS....

ash666,

"However, what you suggest would be classed as market manipulation and hence illegal."

Nope, not at all. And it's what's happening.

Ash666,

"Certainly seem to be a lot of sellers this am, no idea why.
--------------------------
Down a relatively quick 5% :( "

Are you sure it's a lot of sellers, as distinct from a lot of sales? Volume has been nevertheless low, and I feel that means a lot.

I've often put some thinking into the waywardness of this SP, and on thing's occured to me.

Let's say you're a trader with a lot of money, and masses of shares. Like Crystal Amber, for instance. (Now I'm not saying Crystal Amber is behind today's share movements, just using them as an example.)

What such a trader is into Hurricane for is to make money. Not interested whatsoever in Fractured Basement, the possible strategic energy value of Lancaster, not interested in whether Dr Trice gets a knighthood, nor anything like that. Just making a nice profit for themselves.

The company doesn't pay a dividend, so the trader makes money by trading, pure and simple. And the only way to make money through trading is selling high, buying low. That's obvious. And if you've got shedloads of money and shares, the way to do that is by selling into rises (as CA does), when demand is high. You're not necessarily waiting for a 'spike' like a smalltime trader, just so long as the 'rise' guarantees you a profit, that's OK.

So you do that, then bide your time, waiting for a 'doldrums' occasion. Like right now. Because with news about Lincoln likely in the next couple of weeks, no real 'investor' who's got an IQ bigger than their hat-size is selling. And there might even be some wealthy PI's prepared to increase their holding by buying on the dip. Just look at this BB: there are people doing that.

OK, back to our big trader. What does he do, especially if he's expecting some good news, which should shift the SP up? Easy. He 'sacrifices' a few shares. Just like a sacrificial pawn in a chessgame.

The posted SP is based on the latest 'A' trade price. So our trader offers a small quantity of shares at a lower 'ask'. And someone, somewhere, is going to buy them. But it's just a small amount. But when that 'tranche' has gone, our trader then unloads another small amount, at a yet lower 'ask'. Now there are maybe more buyers in the wings, so that little lot goes, as well. Repeat, during the course of a few hours. The SP continues to sink, because of this 'drip feed', and remember, the volume remains low.

Then, at a certain point, our trader stops selling. Demand is increasing because of the low price, so the SP wobbles slowly upwards again. Our trader has 'walked the price down', now he might buy a few back to stabilise things for himself, stop the downward trend, and so on.

Such an operation might have cost him a small loss on the day, but what the heck? His huge wodge of shares are from way back when, and already showing a massive paper profit...

HH,

"Skandi Hera is an anchor handler, not a PSV the likes of the Grampian Sovereign. So no, not a direct replacement for the Grampian Sovereign."

OK. Whatever. Maybe as Laserdisc has surmised, just going to pick up an anchor.

I'll admit to it, Hurricane 'shipwtching' has just become an occasional sporadic thing for me now, personally, whereas I was an addict back in 2016, when things were strictly 'explorational', or make-or-break 'development'.

Things are more complex now,the long voyage of the FPSO is done, though it's nice to get info about shuttle tanker loads.

Plus it's time to leave it to others, getting things as wildly wrong as I sometimes did! I think it's now plain that Grampian Sovereign wasn't on some hotshot 'mercy-mission' to gollect fluids to make up for fluid-losses on the Lincoln well.

Etc..

Just waiting for an RNS.

And not expecting one for another ten days or so.

Tt&ta,

Thanks for the photo link.

So maybe I was wrong. And from a photo someone else posted, that separator has been moved out. Same flatbed as a 'tree hugger' posted a picture of going in.

But completely ignore posts about that separator being only good for 20 bbl/day oil. Complete nonsense. That unit's OK for 10K or maybe more.

The thing is, WN was expected to be essentially gas. Which can be flared cleanly, no smoke, etc., and doesn't require 'buffer' storage-tanks for fluid (oil) storage, offloading facilities, and for which we've learned permission has been requested for.

West Newton isn't the Lybian desert, where you can run a DST (flow) test into the dunes and burn off oil with a huge amont of smoke.

So no reason to keep kit at the wellsite (costing money) until facilities are in place to satisfy all environmental concerns in W.Yorkshire.

All indicators are that this is a very significant 'find'. I'm just hoping that RBD's further capital input to Rathlin will help expedite inclusion of new equipment to allow a proper 'EWT' to occur pdq. Including a contract for oil-offtake, and so on.

laser,

Taking over from Grampian Sovereign for a while, maybe?

FS22

"Q. where is the lemon juice?"

Probably the same place as your four aces.

LW,

"A-ha-ha. I've heard you say something similar before, Double. You may be disappointed: the price may spike exponentially as a result of a bid for the company, and you may have to accept a higher price than you've bargained for."

Sure, that would be nice. But I simply don't see a TO on the near horizon, so it's not what I'm counting on. And I have to be brutally realistic. Sure, the HUR SP might have risen by 1% or so yesterday, but at the same time Sterling fell by the same percentage versus the Euro.

OK, most of the people on this BB aren't in the same position as myself, investing from 'overseas'. But the exchange against the dollar also fell, and HUR now markets its product in dollars...

What the heck? It'll be St Legers day soon.

SotB,

"Oil flowing in the basement......"

OMG. Has this BB sunk so low? It reminds me of the infamous post on ii back in 2014 about 'oil all over the shakers!'.

Get a grip on yourselves. Not that I'm advocating any onanistic practices, but there seem to be some adepts at that showing up here posting cryptic and incomprehensible messages.

Wait for the RNS. Personally, these days, I'm watching the SP more than the ships...