Member Info for adoubleuk

CaptSwag,

"good point on the long lead items already secured for lincoln....lets put them to use."

Precisely.

They're worth a lot of money, currently sitting in a warehouse...

This BoD is now just stting on its arse, collecting their salaries and doing nothing, other than proposing ridiculous 'technical ideas' which won't work.

Meanwhile, somewhere in the background, there others who might pick up the entire thing for ten cents on the dollar, having previously pooh-poohed the complete idea from day one...

Slift,

"The "technical review" that they're all so proud of has done nothing for this company unfortunately."

Completely agree with you. The 'watercut issue' cropped up early, and was unwelcome news. Now the rest sounds like flim-flam to me. Shutting-in 7z is not really an answer. But also, a sidetrack of the (very shoddily-drilled, though we only discovered that too late) 7z will necessarily involve complete production shutdowns, to get the rig in place, remove Xmas tree, install BOP, etc., etc.. Plus a lot more. It's flim-flam. Drilling a new hole would (imho) be a lot cheaper. Maybe 500 metres away fron Lancaster 6, using the already-ordered equipment destined for Lincoln. Then tie THAT in, before shutting down Six for plug and abandon of 7z.

And a water-injector to 'drive' oil from the Victory sandstones 'towards' the producers ? More flim-flam. A gas-injector I could understand, maybe producing a gas-cap drive for Victory. But water? No way.

People are being led by the nose by a cynical BoD who believe that they can continue to raise cash by proposing 'solutions' which 99.9% of people don't understand. And which won't work.

Slift,

"Is it hope? Is it because they're deluded? Or is it because they're just dumb?"

Unable to answer that. But one thing of which I'm sure is that the BoD have continued to draw their salaries, while cash in the kitty diminishes, and they dream up some very dubious sorts of 'solutions'.

It's no longer the Hurricane Energy we knew and loved four years ago.

DC,

"f you bother to look at the company’s website you will see that whilst they have given up the peripheral area of P1368 they still hold P2308 (Halifax)"

No, I can no longer be bothered to look at the website. But it seems I've got some things wrong, so stand corrected. But nevertheless, if the company is holding onto the 'northern acreage', I can't help wondering why that gets no mention in the latest RNS.

Financially I've got virtually nno interest in HUR any more, but technically I remain interested in the story. Why not? As a shareholder for many years, without people like myself having invested, that big blue boat wouldn't even be out there.

But what's happening now is a completely different ballgame, not one I particularly like, and I wouldn't trust the players further than I could throw 'em. Doesn't stop me watching what's happening from time to time, though.

Project121

"I don’t know how what or when you managed to come to the conclusion of blaming Petrofac or Schlumberger. "

You've read me wrong. Because I'me not a 'blame culture' person, and certainly didn't want to imply that. However, just being somewhat realistic, I do believe that Dr Trice got a bit carried away with his reliance on Schlunberger's 'computer modelling'. And Petrofac's drilling of 7z was a sloppy and f**ked-up thing. it was in no way a 'horizontal well' like Six. No excuses for it, neither.

"You say you are an oilman that I would question, because you would know the process of what it takes and is decided before during drilling a well. "

Ok, question away as much as you like. You don't know who I am, nor what I've done, and I have no desire to know who you are.

CaptSwag,

"I agree with you that 12,000 bod from one well is pretty good. However I am not sure how long that will be the case for and with only one well in action they will probably be running at a loss within 6 months."

Unfortunately, I have to agree with you there, as well, which is why (not at all wishing to appear to be a 'deramper') I feel that financially this is now a huge risk as an investment proposition, and why I'm not buying back in. And which also causes me a lot of sadness, as a (now retired) oilman, and not because of not having made money out of this venture.

Because Dr Trice has essentially been proved right in his thinking. The oil is there. (And also, I believe the new BoD's flim-flam about the Victory Sandstones to be very wrong, but that's a whole different story.)

But something went wrong, and it was the way 7z was drilled, maybe Dr Trice's reliance on Schlumberger and Petrofac, and a certain amount of not questioning his own 'confidence'. Hence the result. But I still feel that any investors who have lost out should not apportion 'blame' for this. The thing's worked, and is still working, but whether now in this 'anti-oil' climate it's cost-effective is unsure.

Remember all my posts with allusions to Hoover and Dyson ? I still believe that's what's happening. Hurricane may wind up as a company, who knows? They'll have a hard time raising more money. However, the oil's still there on Lancaster, maybe Halifax as well, and that well's flowing like a b**stard.

https://www.youtube.com/watch?v=gPy2DHHnlqQ

JoeSoap,

"re Halifax. Suggest you check your feet for lead pellets.
They have updated their Licence acreage maps on the website."

My holding (and confidence in the new BoD) is so small that I can't be bothered to look at the website. However, this is a quote from the '9/11 RNS'

"In light of the revised interpretation of the OWC, the area of the P1368 Central licence outside the determined Lancaster field area is being voluntarily relinquished "

OK, if the cowboys an' girls have changed their mind, and decided to hang on to the acreage up to and including Halifax, fine. But the latest RNS mentions nothing about that, and maybe it should have, if that's the case.

Wulbert,

"Jeez Adoubleuk! You're still here? Nice to see your handle. "

Yes, still looking in from time to time, and even less frequently writing a bit. Because let's face it, it was money paid by people like myself who got the show up and running, so I stick around to see the 'endgame' whatever the result, however sad, may be.

Heck, like all good scientific experiments, the thing's not over until the beakers have been washed out and put back on the shelf.

And let's not forget that Lancaster is still producing at a wallopping 12,000 barrels per day from just one well. Which is pretty extraordinary. But financially, the company seems in a fairly parlous state despite that, plus I don't trust the new BoD an inch, and from a technical viewpoint I feel that the 'forward planning' is very dubious, so have (personally) no intention of putting more money back in.

Groundhogday1

"This will re-rate back up to ~5p+ very very soon, and once funding plans have been confirmed here, HUR SP will be back in double figures, potential in HUR’s rich acreage will speak for itself moving forward."

Balls.

Dire Emblem,

You've just gone shot yourself in the foot.

"6) How does this revise potential for Halifax."

The new BoD has 'relinquished' Halifax, and all related areage.

Biglam,

"Well it was a RNS from the company"

Yes, from a 'new' BOD who have comprehensively driven it into the ground.

First post from me here for a very long time. But I'd remind people of some posts I made ages ago. And the more the way things go on, the more I feel I was smack on the nail, even if it's cost me. (Not too much, fortunately, still got enough to play poker. Though finding anywhere to do so is becoming difficult.)

It's pure Dyson / Hoover. That big boat's still producing 14,000 bbl/day or therebouts, just from one well (or do they turn on 7z from time to time? I dunno, given up with the day-to-day stuff.)

BP, Shell, they DON'T WANT TO KNOW ABOUT POTENTIALLY HUGE NEW RESOURCES. They want to bury 'em, which keeps their companies nicely in in line with the new 'green' thing, and the politicians.

Just like Hoover would (had they succeeded) put Dyson's machine on the back-shelf and hidden it from everyone.

Oil companies are not in the business of producing oil to help everyone's transport and energy needs. They're in the business of making money for themselves.

Slipanchor,

"The SP is down by 50/60% since Tony Maris arrive on the scene, that is not a good performance in my book."

Well observed.

Hurricane has become an investment crock for about a year. Likewise on the most part this BB with people trying to ramp / deramp it. A lot of LTH have lost money, but the idea was good, and is still not bad. However what with idiocies like covid, 'climate change', the US elections and so on, I wouldn't recommend anyone to this share. Nor any other shares, come to that.

'Basement play' Wos is technically still very interesting. But at the rate things are going, it's only the Mad Max's who are going to be driving cars twenty years in the future anyway.

Unless you believe some Utopian electric dream, that is.

Glad I've still got some physical gold, 'cos the market's going down the pan.

halfpenny,

"Roll up Roll up anybody wanting to take a punt on a basement play?"

That's no longer really the point. It's more a case of wanting to take a punt on HUR, now devoid of its creator and erstwhile CEO. There is a new (and very quiet) BoD who have decided to divest the company of the License N. of Lancaster, up to and including Halifax. That's a huge amount of acreage, and retaining the licence would have cost a drop in the ocean to maintain. No doubt CWR (Warwick / Lincoln) have been retained simply because of Spirit's involvement. A couple of years ago Shell and BP took most of the licences surrounding Hurricane's patch.

It doesn't take a genius to figure out the strategy.

Cap't Swag,

"i have watched some of the well known covid stocks"

Bother. I didn't know Coronavirus had issued shares. Those little blighters seem to work hard, and are rapidly expanding...

Slip,

"Still unable to locate the Navion Oceania, probably well on her way to either Welhelmshaven or Rotterdam with her AIS Transponder switched off."

Hey! You know as well as I that a tanker would never switch off her AIS unless possibly going through the Straits of Hormuz!

The short time astern of the AM is interesting, though. Following soon after that Skandi boat seemingly astern. Offload-reel problems, maybe ?

Hijacking this thread header, I reckon a bunch of you here sould take a listen to this, and take notice of the lyrics before you give yourselves a heart attack...

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

mcadder,

"This guy has the experience and expertise to come up with a decent plan that will not just maintain and increase bopd, but will materially increase the reserves that were recently massively downgraded. "

How?

"Expect detail of a plan to be announced anytime now."

We were hoping for one on the 11th. Vague waffle about water injection and so-called 'potential' of the Victory Sandstones doesn't meet the nut, I'm afraid.

shedful,

Thank you very much for the link.

"Scroll down to where it says Slide 7 , 4th paragraph"

I've done so. But don't understand it at all I'll stick my head out and say it's self-contradictory mumbo-jumbo with no hard data referenced to back it up, but who am I to contradict the Interim CEO of the company ?

But nevertheless, what's this 'incedible aquifer' dear Beverly is alluding to ? Sounds like Donald Trump after a BigMac too many.

However the link and the transcript is VERY interesting, and will trawl my way through it later on, probably tomorrow, and when I have the time. However I couldn't help noticing this little bit:

"Hurricane remains fully committed to reducing its greenhouse gas emissions, where it is economically and commercially viable to do so, and fully supports oil and gas UK’s commitment for a net zero basin by 2050."

Can someone explain to me what the phrase a 'net zero basin' means, please? Especially when expressed by the (interim) CEO of an oil company? 'Net zero basin'? An empty bathtub, maybe ? Or does it mean an oil company no longer looking for oil, but being 'eco-friendly' just to see out the lifetime of the current directors? That sounds familiar.

Slift,

"Surprised you held onto it until the presentation! I sold it as soon as I could after seeing the horrible downgrade to resources and reserves, mention of bubble point, mention of $70m water injector, and the fact that 7z was shut. "

Hey ! Can't win 'em all ! That morning, having dragged my sorry ass out of bed, I skimmed the RNS in a bleary state, without going into detail. Already it was bad enough. But nevertheless I need a cup of coffee before I do anything... Make no sudden moves. But then Cebo sent the link to the 'slides', and at that point, having seen page 11, there was no hesitation.

I got out at 3.17p, representing an almost 50% loss to me, but what the heck? It's now below 3p and don't see anything to drive the SP higher in the immediate.

And don't see myself ever buying back in in the immediate, neither. Though still hold one share for quick internet access, just in case.

shedful,

"AD any ideas on what this means specifically means by oil coning from above, this is an excerpt from Beverly talking..."

"We see water coming from the aquifer below in the Lancaster 205/21a-6 well, or P6 well and oil coning from above in the Lancaster 205/21a-7Z well, or P7Z well. The material balance work shows more pressure support than would be expected using the volume of basement oil above 1,330 meters TVD subsea and incredible aquifer."

No. Sorry to say it, but I don't understand anything in Beverly's remarks, assuming they are quoted verbatim. Technically they make no sense, and without reference to specific data, even less. In fact, 'coning from above' (ie the Victory Sands) is a concept I've never even heard of before, baffles me, and sounds a bit like clutching at straws.

Though of course, I don't know everything, and might be wrong.

To my mind, though, this is all missing the point.

The 'new' Hurricane has significantly downgraded everything, and the SP's in the pan. But weirdly, Shell and BP bought the leases on all the surrounding territory last year. Plus there's that 'unknown', Spark energy who are trying to get in as well.

Try figuring it all out. I can't.