Member Info for adoubleuk

haggis_trap,

"Currently the share price looks like a binary bet."

Yes, I agree with you there. Whereas I never considered it as such before.

And I consider the 'new Edison Report' to be a very sneaky move on the part of the new BoD.

NOW, they have to give shareholders (current, sold-out but maybe still interested, or potential), a new 'road-map'. Put up or shut up, in other words.

I will not buy back in here until such a forward-plan statement is issued by the company.

Malrees,

"adoubleuk,

I think you know more about actually drilling wells and getting them working than any of the current contributors on here."

Thank you for the compliment, but there are one or two others who 'know their stuff' here, but tend to hide their lights under a bushel.

" I am very interested in your thoughts on what the plan might have to be to re-work 7-Z, particularly how long we have to suffer production reductions and what the actual risks are that the re-work would fail to improve matters at all."

OK, that's two questions. To which I have no exact answers at all. But I very strongly suspect that any workover (or rather complete re-working of 7z, because it wouldn't be a 'simple workover') might very well involve shutting down production from 6 for the duration. Ie, loss of production, and thus revenue. Yes, there might be 'windows' of maybe ten days here or there when 6 might be 'run', but that's stop-start, never a good thing, and very likely not cost-effective.

The two wellheads are adjacent. So anything like rig move-in and attachment to 7z would require 6 to be shut in. Likewise, downhole, the wells are (despite 670m distant) in 'instant' contact. So workover operations on 7z will have an effect (possibly negative) on 6, so best to remain shut in during that time as well.

But I can't quantify this. Nor can I really give an opinion as to whether such a remedial operation would work or not. But my seat-of-the pants feeling is that it might be something of a coin-flip. 'Suck and see'. Not very scientific.

"We have very little leeway to play with here."

Yes.

Because given the sums involved, plus probably production downtime, a new well would almost certainly cost no more, and probably wouldn't require loss of production and thus revenue.

This is why I'm very very wary about buying back in. Because the new BoD might (and by inference are) be adopting a 'to hell or bust' attitude. And really (reading their CV's) with not much to lose. Because if they break the thing, the oil remains there, for someone big to snap up for peanuts later.

" I've been invested in several companies where re-workings occurred, but none of them in fractured basement."

Yes. Some companies have drilled an exploratory well, it's been a duster, done a sidetrack, and bingo ! Not an uncommon story. But this is different. Doing a 'workover' on 7z as it is (And it would be a huge major workover) would be expensive enough, and complicated, with no guaranteed success. The idea of a 'sidetrack' of 7 makes even less sense. Think of it like a car-racing team. You've got one car which is a winner, another which shows problems. What do you do? Keep running with the winner, keeping the other in reserve, while meanwhile building a third, which may or may not bring the entire thing to victory? Or shut down the entire show for a season?

This has got Shell's fingerprints all over it.

Ge nhis,

"I do feel the new Bod have, as often happens, "kitchen sinked" all possible bad news at once to give themselves a clean sheet. "

I think you've hit the nail on the head.

Also, I would plead with other posters not to reply willy-nilly using this thread header, but instead, let's try to keep it to the tech stuff. Yes, I know, I sold out last week, but I'm still watching like a hawk, because the SP is such that I may buy back in. But not just yet.

The new Edison Report (yes, comissioned by the company itself) to my mind (opinion only) gives a number of pointers as to why the CEO has resigned his place on the BoD, and I believe it's based on forward technical strategy rather than anything else.

One particular point being the notion of re-entering 7z for a 'remedial' workover, isolating a particular 'perched water zone' close to the 'heel' of the well. The report actually goes into detal to the extent of mentioning slotted liner and 'swell packers', which (to those familiar with such iron) would be the obvious way to do such a workover.

HOWEVER, the success of such an intervention is at the very least uncertain, and would also involve some extent of complete production shutdown (ie no incoming revenue from well 6) while certain operations were carried out.

I'm now beginning to feel that Dr Trice has been far more in favour of instead drilling a further well 8. Which of course would in itself carry the risk that the new well might not be 'good'. But at least it wouldn't involve faffing about with what's already in place and doing very nicely, thank you, even if not quite as nicely as previously prognosed.

It's a very difficult sort of balancing act. And I can quite imagine a sort of scenario in which, exasperated, Dr T may have said "OK Guys, go screw the entire thing up for the sake of haste, but I'm out of here."

Especially while the ESP's haven't been commissioned, and I think we'd all like to know why that is not already done.

Also, it reeks of Shell, who aren't being stupid enough to start preaching the 'green energy' mantra like BP.

I made a 'sudden move' last week, selling out almost immediately of learning of Dr Trice's departure. But having made some big top-ups around the 6p mark, so no terrible loss.

But I don't see any significant movement until the company (as distinct from Edison) gets its ducks in line and outlines a forward plan.

And if it includes a re-entry of 7z, I'll be keeping my cash in the bank, not buying back in.

Eithe

"

WWN.

"Do you think a rate dependent water cut is a key indicator of coning? What might that imply for the debate on acquifer vs perched water?"

Appreciate that your question was for someome else.

Equally the 'debate' about water-cut being related to aquifer is one reason I've sold out. I can wait.. Let the idiots have their way for now.

But no, there is no indicator of 'coning', which would not apply anyway.

WWN,

"Are you suggesting the SP should rise if the water cut increases with increased production?"

Post of the week!

BigBear2,

"BOD need to get a grip here... Trice has been sidelined so they need to give a clear indication of future direction sooner rather than later"

They have done this in the RNS. Or rather, haven't.

"the Board is keenly focused on the need to increase production, whilst also keeping capital expenditure focused and to a minimum. Principal among the near-term tasks of the Interim Chief Executive Officer will be to propose a revised forward activity programme in support of those objectives. "

But yes, HOW?

A 'near-term task of the Interim CEO etc....'

I reckon it should be her first task, and forget the kids and any social activities. Show us how she can run the company now the person who created it has been run off.

Careful,

"Think you should re consider ! Buy back in !"

Not right now. I now want to see which way the wind blows, especially with a mutinous crew in charge of the ship, and (financial) gale-forcasts worldwide.

I remain the proud (?) possessor of 1 (ONE) Hurricane share, meaning I can put in an internet order at the drop of a hat. It may happen, but again it might not. Right now, cash in the bank feels a bit more comfortable.

I'll remain watching this closely, though, and post occasionally (maybe) on this BB, though try to keep it to weekends. The BB has becomed overrun with a bunch of t''sers who know nothing about the company, its history, nor the technical side, and I'm not going to continue casting pearls to swine. It was different a few years ago, when on the tech side we were all trying to to guess what was happening via 'shipwatching', rumours from the granite city, and so on. But that's changed.

I liked Dr T's 'slowly slowly' approach, and am very uncertain of the new 'increase production while reducing costs' one. So my money's staying firmly in the back pocket until I'm sure the new team isn't busy c**king things up ! Of course, there's always the outside chance of some sort of takeover, so I'll kick myself if next week the SP skyrockets to 30p in anticipation of that. But let's be realistic. Everyone (including the Majors) is drawing their horns in right now, not going on buying-sprees.

ENTANGLED.

"if you ever venture near Rockfield let me know..."

Rockfield? Oh happy days. Dave Edmunds & Co. Doubtful I'll be near the place again now, though.

(next page)

This slump was of course a great shock. But personally, and it didn't take long, I started topping-up like crazy. Which was a good decision. Despite the 'fundamentals' not having changed, shut-in of 7z notwithstanding, it was a good buy, and eventually a skin-saver.

Then came last Monday's RNS. The CEO, the guy who built the company from scratch, has somehow been given the heave-ho.

And for me, that's wrong. I'd anticipated one day his relinquishing his COE title to become Exploration / Geological Director, working in parallel with a Production Director and the Operations Director, with someone new in the 'hot seat', but being knocked off the BoD? To my mind, unthinkable.

Hence my 'sell' decision. I NO LONGER TRUST THE MANAGEMENT. It IS a 'fundamental change'.

Oh, before signing in to my poker game, I'd like to thank all those who wished me 'godspeed' when I announced my sell and only (now) very occasional presence here. And it will only be very occasional, because I'm not going to give free technical education to people who can't even be bothered to do their own DYOR.

Oh, and for those who wondered if I might not be Dr T himself? That gave me lots of laughs. I've never (unfortunately) had the pleasure of meeting the man. But I do know he likes cigars and those peaty west-coast malt whiskies, whereas I'm blended scotch and Camel filters.

MB111,

"Hello ADUK . Good to see you back."

Thank you, but it'll only be very occasionally, I think. But this is the start of the weekend, it's been a funny week, so why not?

"The new BoD seem to be production focused (at least that's what they're claiming)."

Yes. Plus reducing capital expenditure at the same time. I don't know how that will be done, unless it means shelving further 'semi-exploration' drilling, and maybe laying off staff.

"Do you think the absence of DrT will hinder them much here? "

His absence may possibly help them in such stated goal, but I don't think such goals are those which Dr Trice was necessarily aiming for.

"Or is there pssibly something more murky to be wary of?"

No comment, because I'd never accuse someone of 'murkiness' unless I had some sort of evidence to back it up.

However, I'd take this opportunity to explain some of my thinking.

If investing in something, a company, be it O&G or frozen pizza, you're 'putting your trust in the management', ie the BoD. And for years, HUR has had pretty much the same 'core group', other than one chairman for a couple of years (probably shoehorned in by Crystal Amber) who got himself shoehorned out. But overall strategy remained unchanged, until fairly recently, like the last nine months or so.

For me, cracks started appearing in the plaster (or writing upon it) with the appointment of the now Acting CEO. Why? I wondered. Then came the announcement that despite the success of Lincoln Crestal was going to be P&A'd, despite the kit for that having been ordered and logistics booked, because of some decision by OGA. BIG why? No logic to it. Then came the 'voyage of the Seawell', followed (and correctly interpreted by 'seawatchers' here, but the results of which only came later. AFTER (and without forwarning to shareholders) that Whirlwind was going to be abandoned.

Then Stobie suddenly 'resigned' or was kicked out from the BoD, for reasons never explained. HUGE 'warning sign' for me. Just before the CMD (which didn't happen because of CV19) and publication of Annual Results. Something VERY wrong there. Followed by the webcast CMD which was a shambles. With two participants who look like they're made of plasticine, and semi brain-dead, plus a very unhappy-looking CEO.

Shutting-in 7z came as a surprise, the RNS following just 2 days after a positive Edison Report. And of course, 'the market', not knowing a hole in the ground from a hamburger, trashed the SP.

(cont next page)

Longwait,

"This board is has certainly changed since Double departed and the new crowd arrived."

It's kind of you to say that, but the 'new crowd' had already arrived before I made a drastic decision. But BB's shouldn't affect personal investment decisions: they're just punctuation marks in the writing on the wall. Nevertheless, like misplaced or uneccessary apostrophes, they were getting on my nerves.

No, it's the 'new crowd' on the Board which actually does count (the Bod), and their own statements ,which drove me to call it quits.

JB,

Just to say I'm shutting down here (slowly) having sold out today. For me, Hurricane without Dr Trice is like Ferrari without Ferarri, or Jaguar without Bill Lyons.

So no more 'nightshift'.

But have enjoyed our various conversations.

Now, back to my poker game. That hasn't changed.

Albi1,

"I'm sorry things are where they are, wishing you good luck and god speed on your journey where ere you go."

Thank you. Indeed, I suspect 'kindred spirits'.

I've now got scared, and decided to run. And am not ashamed of it. Fear is a powerful emotion, but one which has saved my life (and that of others) more than once.

As I've decided to write here a bit more, despite having sold out today), I'd reccommend to everyone to re-read that RNS very very closely, slowly, and phrase by phrase. I did this myself this afternoon, on my phone, sitting on a cafe terrace with a large beer in front of me.

And was left just shaking my head. Because it's almost incomprehensible.

"Dr Trice will remain available to assist the Company during a transition period of six months. "

'Transition period' ? What the heck does that mean ?

Ah, an answer

"as the Company continues its transition from pure exploration towards a maturing production company"

So right now it's 'immature', is it ? Yeah, son, here's the keys to the Mustang.

And we now have a Dr Parsley onboard ? Sorry, time to leave.

PS Yup, I've SOLD. But still hold one (yes, just ONE) share in Hurricane. All 7.87 penceworth of it.

Last word for today, and those following. But I have to mention it.

"it is possible that something as simple as a side-track will get the production back up to the 20,000 b/d"

Yeah, right.

And just WHERE in 7z will kickoff point for your 'simple' sidetrack be, Mr Directional Driller?

Big fat simpleton.

Something of a Judas, as well, I feel.

Oh yeah, one more thing. I have just instructed LSE to cancel my 'premium' subscription, which I only used for the personal messaging service, and almost exclusively about technical stuff between fellow HUR shareholders.

So I'll no longer be 'reachable' there.

Longwait,

Thank you for your kind words. I will miss this chatboard (especially the O/T weekend stuff!), but that's the way it goes. I've just checked back with my broker and my sell order was executed in rapid time. So I'm gone.

"I think he (Dr T) is a victim of today's world, in which presentation skills are overvalued."

And the writing was on the wall about that at the CMD webcast. But the other two clowns who appeared on that are even worse.

I too am a 'victim of today's world', what with this CV19 madness and all the rest of it. I can't go play poker in a casino (the thing which paid my rent), the entire truckracing season has been cancelled, so the excuse for a massive p***-up and noisy fun with dozens of friends has disappeared, and yes, I guess my own 'presentation skills' are maybe not what they should be.

But Hurricane Energy without Dr Trice on the BoD suddenly becomes very uninteresting indeed, and (to my mind) quite liable not to succeed. Or maybe become victim to a hostile takeover, at which point we won't hear about 'Fractured Basement' again for a decade or so.

Guess I'll put the money I've clawed back into investing in some company which makes hand-sanitiser, or something like that. It's become a sad old world.

Daltry,

" Back in the drawer the shares go!"

For you, maybe.

Me ? I've just woken up, read the RNS, and sold the whole dam lot.

I may very occasionally drop in again on this BB 'in an advisory capacity', but for me, the departure of Dr Trice as a director of the company is the end of the road. That he might step down from the role of CEO was something I've been anticipating for months, but not leaving the BoD completely.

Byebye.

Jiffy,

"You will require a VPN connection to make it look as though you are based in UK, (Nord VPN works fine) "

France is a police-state. Setting up a VPN isn't easy. But that's a movie I certainly want to see.

d(r)aft,

"This is 12p on the bid tomorrow. Then 15p"

On what information is this based?

AqSO!

And WON the mother !

In some ways I think it was thanks to you explaining to 'Daft' what I'm on about, so many thanks.

Only small stuff, a little game. usually end up at the final table, but first is first, and 600 euros will come in useful !