RE: Investors Chronicle25 Apr 2019 20:24
NigWit,
Cutting to the chase, the Investors chronicle were focused on the commercial realisation of the reserves not climate change. As by your own admission, you have been a long term investor here you must have been aware of that particular risk when you first invested and I personally have only seen progress since and nothing to indicate that this risk has increased subsequently; so just remind me of the relevance of flagging this up now?
According to oil consultancy Wood Mackenzie, Hurricane’s reserves are just shy of BP and Shell’s combined UK continental shelf resources. However, almost every one of these 2.18bn barrels of oil-equivalent is listed as technical (or contingent), rather than commercial reserves. Until we get a clearer impression of Lancaster’s performance, we’re on the sidelines. Hold.