Member Info for adoubleuk

His presence is not missed.

Topcat,

"we deserve much better than this joke of a board now in place."

I believe that their only aim is a sellout at ten cents on the dollar to their buddies in Shell and BP, and possibly to 'shelve' the entire thing. It's scandalous.

MCB55,

"Fancy a punt on He1........suggest you have a look see........3 drills coming up soon.......possible 5 bagger.......I am not in yet!
Would be interested in your thoughts?"

Hi ! I recognise you as one of the 'good people'. Long time no hear. I know nothing about He1, so cannot comment right now. And this might not be the right place to do so. But thanks for the heads-up, and may revert, having looked at it.

Shinfalls,

"Must admit, the mention of Harbour Energy lurking in the background doesn’t sound too far-fetched at all. "

Hmm. Yes. Worth looking at the CV's of Harbour's BoD. Many with 'past' and involvement with either Shell or BP, or both. I find it weird that out of the the 12-person BoD, seven are listed as 'non-executive directors'. Which leads me to suspect that they might be representing third parties, instead.

Mirasol =Mistakable. See posts of 18:08 and 18:45 yesterday. I thought 'dual accounts' were not permitted here.

Also, something seems to have gone wrong, in that all today's posts seem to have disappeared. Or is it just my own machine gone on the blink ? I've received no notification from LSE that I've been 'banned'.

British,

"This doesn't make sense. They make $19Million in December and they only make $21 million from January to March "

There is nothing particularly sinister about this. In the oil industry (as in many other industries) some payments may be made on a quarterly basis. Some (such as insurance) may even be annual. So accrued 'cash in bank' revenues aren't always equated to monthly production. On the drilling side (which for HUR doesn't apply right now) where billing is on a monthly basis, there is nearly always a '90 days to pay' clause. So revenue (incoming cash vs outgoings) may fluctuate, dependent on when payments are actioned.

fandg2

"Yep, musing's was used deliberately. Most people on here seem to post their musings as fact, which are few and far between now with HUR unfortunately."

In that case, it seems we're both running on much the same track. Either (hopefully) keeping a safe distance, or otherwise on parallel tracks, with no risk of collision.

The story continues, and remains interesting.

Slift,

"there is a huge error in table 3.6, which also came up in the summary.
Now that's ERCE's incompetence, whether they made a mistake, or haven't checked their work properly, who knows."

Thanks for bringing that one to my attention !

fandg2

"Good to see your usual quality musings again"

Thank you, and that's all they are. 'Musings'. Thinking the thing through. Not to be seen as 'advice' nor anything like that.

Slift,

"I think it's game over for shareholders."

Other than those who've may have got in hoping for a takeover, in at these rock-bottom prices. But for those LTH who haven't already got out, I'd agree with you.

Utterly no way I'm going to re-invest if (or more likely when) there's a further equity-raise. I don't trust the management, and also I consider them technically incompetent and full of s**t.

Planted,

"I’ve always said I didn’t think water injector was a good idea.. and I’m saying it again."

Well at least that's one thing we agree upon. But checking your 'posting history' can't help but notice that 100% of your messages here on this LSE 'chatboard' are in respect to HUR. Which leads me to suspect that you are indeed 'planted', and that your truck is probably painted Schlumberger Blue.

Or am I wrong, compadre ?

Unfiltered everyone, but sorry BB, back into that bin you go ! Don't need your stupid blather.

Planted,

"Like the water injector has been kicked to touch... which I agree with as I don’t see that working .."

Have you unfortunately turned your truck upside-down ? 'Cos the above isn't what you were saying a while ago.

Slift,

"Plus read the last sentence carefully. Which implies, (or almost states) that 'attributed reserves' will increase. Huh ?"
This is referring to conversion of 2C resources to 2P reserves with the implementation of P8 well.
Nothing out of the ordinary, that's what happens when the well is tied back, it accelerates production and hence converts 2C to 2P reserves."

Yes, I completely understand that. I'm not thick. but at the same time as the company is issuing assorted RNS's downgrading everything, they're publishing a so-called CPR saying things might magically get better with the drilling of another well, for which of course funding will have to be found, either from current money in hand, or maybe another equity-raise.

Which sounds highly suspicious to me. Either the oil is there, or it isn't.

Planted,

"I think any sidetrack will need to be sanctioned well in advance re rig and kit..."

Once again, an unusually sensible remark from yourself. Are you still in the truck-park?

Of course that is the case. And any contracting of a rig would mean an RNS. Mentioning, at the same time, how production from well 6 would have to be stopped during move-in of the rig, removal of the well 7z tree and installation of BoP and riser, etcetera.

There has been no RNS to that effect. So it won't happen this year.

Slift,

"Pages 11 and 12."

OK, noted, and thanks. And also re-read. But I see utterly nothing about a potential 'P8' being a sidetrack. However ther's this very interesting paragraph.

"The Development Pending Contingent Resources in Table 1.3are contingent on Hurricane being able to fund the drilling and completion of Well P8 and execute the project to deliver first oil during the lifetime of the Lancaster field,as currently producing via Well P6, noting the Economic Limits in Table 1.2above.Note also that as the forecasts for the combined activity of Wells P6 and P8 both accelerate production and add additional resources, the incremental Contingent Resources associated with Well P8 decrease as the Reserves attributed to the Lancaster field increase. "

What the devil does the mention of 'first oil' mean ? 'First oil' applies to the field, not a specific well, and that occurred a couple of years ago.

Plus read the last sentence carefully. Which implies, (or almost states) that 'attributed reserves' will increase. Huh ? Despite the gobbldygook semi-technical verbiage, that doesn't mean that through some sort of magic some 'new oil' will suddendly appear. What it's saying is that it's already there, but might need a new well to produce though the FPSO. Which might be a reason why CA is buying.

The new BoD are a bunch of charletans, trying to pull the wool over the PI's faces, looking for a takeover and a nice profit for themselves. Either the oil is ther, and extractable, or it isn't.

Slift,

"The "future development plan" as according to the ERCE CPR only includes a sidetrack well P8; namely "Development Pending".

Can you give me a page reference to that?

A possible 'sidetrack' cannot (underlined) be called 'P8'. Were it a sidetrack of 7z, it would have to be called '7z2', or something like that. 'P8' refers to a new well.

If ERCE or the Hurricane board don't understand that, maybe they'd do better selling pizza instead.

Onthebeach,

Thank you. I am somewhat 'interested' in why 7z seems to be occasionally being brought back online recently, when the 'kitchen sink' RNS of a few months ago seemed to indicate that the well would be completely shut in, pending a sidetrack or other similar nonsense. Of course, despite my interest, the likelihood of getting a straight answer out of the 'new crew' would be like getting blood out of a stone. It was bad enough with the 'old crew' who ran an extremely tight ship, but I could understand that. Didn't want to show off the family jewels too much. Whereas the new mob just seem to be intent on disguising the possibility that there are still some jewels left in the safe. Or simply want to sell 'em off to their buddies, on the quiet, pocketing some of the loot themselves.

Slift,

"I think it's safe to assume that the downhole pressure data will have reached bubble point in the next few months. I'd give it 6 months tops"

Please elaborate. Remember that to 'assume' tends to make an ass of u and me.

I too read that part of the CPR closely, because amongst other things it was divulging information about the company's discussions with OGA which haven't been revealed before, and also some 'assumptions' being proposed by the new management.

There's a problem here, in the context of a chatboard such as this one. In that lots of people have been taken in hook line and sinker with talk about water-cut. There is a risk that such people will now start talking about bubble point, without the slightest understanding of what the phrase means, let alone the physical processes involved.

I was particularly interested in ERCE's mention of potential formation of a gas-cap, dependent upon production rates and pressure drawdown. Formation of such a 'cap' would inevitably occur at the top of the sandstones, beneath the 'seal'. Which could be interesting, and possibly blow any ideas about water-injection right out of the picture.

Remember, the EPS is very much still an experiment (despite revenue-generating production), and seems to be something of a balancing-act. Which is why I remain interested, even if my financial interest is almost zilch. The Fat Lady hasn't sung yet.

Keepwell,

"the evidence for Hurricane looking like fools, it's everywhere."

Which version of Hurricane are you referring to ? The 'old one', or the current day one ? Obviously, the 'bond issue' and its repayment is a bit of a problem, and I'd be making myself out to be a total idiot if I denied that. But on the technical side ? With well 6 still happily producing abround 11,000 bopd ? There are very few if any other single oilwells on the UKOC matching such output . And it tends to vindicate all of Dr T's thinking. People seem to (conveniently) forget that. Someone who can drill a +10,000 bopd oilwell WoS is no fool, even if he somehow lacked business-savvy. But I doubt that, as well, because over a number of years he managed to raise the finance to do such exploration.

Plus set up shop in Lower Easham, which is a lovely place.