Member Info for adoubleuk

"Analysts at Berenberg reiterated their 'buy' recommendation and 100.0p target price on shares of oil and gas explorer Hurricane Energy despite the disappointing test results for its Warwick West well.''

I'm going to stop reading any 'share analysts' reports altogether. Though I must admit I'd never even heard about Berenberg before today.

What were the 'disappointing test results' they refer to? Yup, those guys are 'analysts' with their noses so stuck up their own fundamentals that they don't even know what the word sunshine means.

As mentioned before, I'm personally an idiot as regards 'the market' and its devious doings. But I've heard the expression 'dead cat bounce', and think I understand what it means. Except I don't reckon this particuler cat is dead by any means, and will instead 'bounce back' spitting and clawing, and the thick hide of the trolls won't be enough protective armour.

THEMANWHODOES

What, exactly? Please tell us. What do you do?

No, forget it. Maybe we don't want to know. There are ladies present on this BB, after all.

capdailbrit,

"Private investors are nothing but clueless birds following a trawler."

And people making such disparaging statements are the fish already caught in the net. Which would you prefer to be? Catfood, or still on the wing?

Go suck it.

JoeSoap,

Oh why oh why aren't I back in bed? It was just the sun coming up, so I thought I'd look in here, and have been banging on the keyboard ever since just to help make this a possible record number of posts on this BB in one day.

But let's try and keep things factual, can't we?

"The GLA oil was discovered with the Exploration well and Spitzbergen."

No. Or rather, and quite obviously, the GLA was 'discovered' with the 'exploration well'. But not with the TO Spitzbergen, which was hired for the '7 wells' campaign in 2016, and was kept on for Lincoln and Halifax.

Crikey. I'm now beginning to feel effin tired, and may actuall go back to bed. To sleep, perchance to dream. But before doing that I'll read the rest of your post...

Wellwell,

"Which part is balderdash?"

OK, good point. So now I'll speak from the point of one oilwell professional talking to another. Put my head on the line, with the risk of it being cut off.

The document you have on your desk refers to 'decomissioning' of wells, which (along with the infrastucture) is the biggest N.Sea growth-business. Wish I were younger and fitter, because it's something I'd throw myself into like a shot.

It's also understandable, because of the number of now non-commercial N.Sea installations being dismantled, but with 'satellite' subsea wells tied back.

Do you have a link to that document? I'd like to find out more, just out of curiousity.

However, I'll maintain that with the rig over 'our' well, P&A means just as I said, leaving no 'leftovers' for someone to come and clean up later. In fact I think that's probably a clause in the licence approved by DECC, but correct me if I'm wrong.

Wellwell,

"Not quite. P&A refers to the reservoir only plugged with cement, probably something that satisfies the 800ft single length combination barrier recommendation as per OGUK well decommissioning guidelines (issue 6 June 2018). I have a copy on my desk. The wellhead will remain where it is for removal later by some sort of cheaper vessel. I'd expect that to happen in the 24 months Albi1 mentioned."

Balderdash, and chuck whatever piece of paper you have on your desk into the bin.

Albi,

"Right, so P&A on WW 1 but then data analysis overall determines where WW 2 etc. may next be drilled in 2020? Correct?"

Don't know, and wouldn't want to second-guess. But overall yes, thinking along those lines.

Albi,

"Had to read up on the OGA guidelines as to which permits needed for what last night (and again today) - it would seem that by choosing the P&A option it makes good economic sense, leaving it open to unplug and clean up in 2020. GWA is all about gathering data. On that note this data will be the real proof of the pudding next year. My view is they are being very conservative at the moment."

Unfortunately, I'm obliged to correct you on some parts of your post, as an oilfield knowitall.

PA means what it says. Total abandonment. What was a nice bit of well-construction plugged back with cement, certain sections of casing maybe retrieved, wellhead removed, seabed cleared so that prawns and scallops can go back to doing their thing there. Byebye Warwick West 1. Won't exist any longer. But she's served her purpose (sorry if this sounds horribly Prince Andrew-style sexist, it isn't meant to be), which is to PROVIDE REQUIRED DATA.

This is something which 99% of people don't understand about oilwell drilling. The whole thing's about data-acquisition, principally. Finding out about what's 'down there'. It's like my preferred card-game. And sometimes you hit the aces, and (again, with luck) they pay off, and you make big money. (Though last night I had my aces 'cracked' , and I lost some, but I'm big enough to live with that. My own fault really, as well. But it's hard to fold aces, even though I knew I should have done so.)

No. Re-read the RNS, is my advice. (And just for once, this is serious advice, provided for free.) Warwick is obviously a 'field', with production potential. So is Lincoln, So the 'GWA' is obviously a 'goer', given that LC will be soon tied into the Lancaster FPSO, boosting production as soon as the tie-in to the WASP pipeline is done. Which is work-in-progress. So it's a no-brainer, longterm. Hurricane Energy is online, making money realtime, generating more in the future, and has potential for far greater things, assuming a comet doesn't come and wipe us all out.

And Greta Thumsuck and a poster here calling himself EmptyVessel can stick tobacco in their pipes and smoke it.

The 'fundamentals' of this company and the work it's doing haven't changed, the presence in the headlines of a 'Greeta' isn't going to get me to change my diesel rangerover for something silent and electric and no fun, and also the vast emergence today of trolls on this board won't make me sell 'em any of my shares!

:-))

https://www.youtube.com/watch?v=G0iCMfc_X3s

bartleb,

"I bet you a packet of wine gums is won't reach 42 or 43 on close...."

Call. Knowing I'll probably be giving you my chips, but keeping things 'controlled'. Just 'limping' in. Price of some winegums ain't going to hurt. But back over 40 is written in within days, once the spreadbetters find some more money to lose.

LW,

"According to LSE, there have been more buys today than sells."

Which is of course absurd. Except that I'm a financial nincompoop, and only understand 'the market' in the same way that a fish knows about riding a bicycle.

But I DO know about the oilpatch.

Today's RNS was OK, and (following some gut-feeling having watched the day's 'sentiment') have made a little 'buy' as a trading thing. To be sold, maybe in just a few days' time, at a profit. Without touching my 'base holding'. Play the 'traders' at their own game.

People who mistake HUR for an ECO or SXX or SOU are barking up the wrong tree. And probably still washing their trousers.

fandg2

" Silly idea or what "

Nope. Makes sense. Also 'weather window' to think about.

Get out of the hole, quickly PA, get the f*** Out of Dodge before it's too late.

PA? Because it's a sh**load less expensive than 'suspending', which wouldn't really make sense anyway with no infrastructure in place. The oil ain't going anywhere.

Driver7,

"Albi are you wealthy? And you use the legal system to threaten anybody who disagrees with you?"

I don't know Albi1 personally, nor her financial status. But I'd advise you to back off. Someone with her (obviously good) musical taste is not to be messed with, and I reckon her legal 'threat' may not be a hollow one, on that basis.

This BB has become fun today. A whole bunch of people bleating and crying, on the back of an RNS saying the latest well drilled has 'only' tested at 1500, bbl/day and will be PA'd.

Yeah. And I said I wouldn't trade anything, and was going back to bed.

Instead, and despite the early hour, I'm on a second beer, and have bought a few more shares here! With a huge grin on my face. Heck, I don't drive 400 miles there-and-back to play poker, deposit a bunch of banknotes in the bank for nothing.

What fun.

For the doubters.... Just read Hurricane's literature, and look at the kit they've been using. No fly-by-night outfit.

Longwait,

"Morgan Stanley valued HUR a while ago at 347p per share. Does anyone think that, after today's news, they will be changing that to 34.7p? Richard Bernstein said he believes it could reach 347p. Yet we have posters talking of a share price in the 20s again."

You've missed someone VERY IMPORTANT out of that list. Our new chum on this BB, 'EmptyVessel', who reckoned sometime over the weekend (can't remember exactly when, 'cos I had more important things on my mind), that today's SP might hit 55p, because he knew what news would be in the RNS.

Had it done so, and as I mentioned in a previous post, I'd have sold 75%, 'cos this is becoming a bit of a long story. But because it hasn't, I'm not selling anything (other than maybe a valuable antique, once verified).

People can bleat, whine, whip themselves with barbed wire and blame AIM as much as they want to, comparing HUR with SOU, ECO, UKOG, SXX, and so on. But there remains one solid difference. Oiltankerloads (not of the road-going type) being sold to market, thanks to a longstanding contractual agreement with BP.

People panicking and selling today (not me) should ask themselves a simple question. Who's doing the buying?

bartlebobton,

"AD; did you miss off a word; noise (just part of the background......)"

I dunno. You tell me. Which word did I miss out? I thought I'd go back to bed and sleep a bit more, but this BB has suddenly become fun, with all the racket going on.

skipsharer,

"lol "becoming on first-name terms with" means he can read her name badge."

Showing your ignorance, kid. The Floor Manageress {unlike the croupier (e)s ) DOESN'T wear a name- badge. 'Floors' don't have to.

Driver7,

" I imagine your wearing a cream linin suit and a hat..... Sitting outside a bar in france"

Close, but no cigar. White trousers, dark shoes, a wool jumper, English-made 'sports jacket' draped over the back of my chair, hat checked-in at the desk (because French casino rule prohibit wearing a hat at the cash tables), and inside at a fairly dark room, even if the sun was still shining outside when the game started yesterday. Floor manageress in a nice black dress, bar service quick, even if it had to be delivered from the other part of the place where the noisy fruit-machines are installed and the brain-dead gamblers live out their pointless existence.

Mind you, I DO sometimes (quite frequently) sit outside on a bar-terrace in France, when the sun's shining! Taking great amusement at 'spotting the English', who usually stand out a mile. Whereas me, I'm just part of the background.

2kally,

"Went to the Free Trade Hall in Manchester to see "Family" in the 60's with my mates, but within 5 mins of them starting up dozens were leaving coz the noise was too much for them, don't think I have ever seen so many banks of amps on stage before or since!"

Yeah, 'Family' were loud, and sometimes went a bit over the top in that respect, principally because their sound-engineer was half deaf already. but that was still OK.

Unlike Uriah Heep, who were loud for the sake of it, but utterly devoid of talent.

Driver7,

"Game of poker old boy???"

Anytime. Name your limit. Not your place or mine, though. Somewhere 'neutral ground'. Pornichet casino, maybe?

Albi,

"Thanks for the link - new to me and welcome. The sun is shining here too!:}"

The Streetwalkers were the 'second incarnation' of a band called Family, hailing from Leicester, in the early seventies. Critics called them an 'art band', but really they were just a bunch of boozed-up musical rockers having a good time, and shared that with their audiences, who were just the same. The definitive albums are 'Anyway' and 'Streetwalkers Live'. Preferably on vinyl (costing virtually nothing on ebay) and played through some Bose 802's through a Crown amplifier.

EV,

"AK Stop ramping!!!!!! you just cant help yourself! Can you? You are like chemical Ali with USA tanks trundling up in the background.........."

I'm not 'ramping' anything. And anyway, who are you with the nerve to try telling me what to do? I'll do (and write) whatever I want to. The only crime is getting caught. May I suggest you take your hand out of your trousers and stop playing with yourself? It's unseemly, and according to legend can make you go blind.

Sorry your spreadbet didn't work. Try harder next time.