Member Info for Biffadog

Boyzee,

That "late trade" you have highlighted is more than likely just a "late reported trade" from earlier in the day.

The volume of nearly 250k shares with a value of over £100k means it would certainly fit into that category.

I'm never sure how much info can be gleaned from trades after the bell anyway. The only factor worth it's salt on a daily basis is whether or not the SP has risen or fallen over the course of a particular trading day.

Yesterday was a solid up day. Yee bloody ha !!

GLA.

I'm sure I've said this before but I checked with HUR at the time and the slight delay in leaving Dubai had nothing to do with extra work requirements as a result of the Spirit deal.

Any work required as a result of the Spirit FO will be done in-situ at Lancaster.

Think about it. It makes sense not to do any work on the AM until the results from the GWA drills are known to be positive and the HUR/Spirit partnership decide to move forward to the next phase, especially if the upgrades can be carried out whilst the AM is at Lancaster.

Whilst I am not prepared to provide direct quotes on here, this is exactly what I was told back in September and I have no reason to believe it's not true.

GLA.

Go on then. One last time. The considerable risks of FB just for old time's sake !

GLA.

"Stop looking for ghosts in the machine....." (wellwell).

It's great when you are on board and loaded up with HUR stock / Long on a Spread Bet because all of a sudden you're not the one looking for "ghosts in the machine" and instead are fighting the other corner. Hurrah !

Anyone up for a discussion on whether FB is all it's cracked up to be and whether or not it can possibly perform to the expected level WOS ?

GLA.

PS: I would also add that any engineering work pertaining to the Spirit deal would surely have been carried out in Dubai and not Rotterdam. That's just common sense.

Genghis,

Please can you explain why you take a poster who has never posted about HUR before and refuses to back up his claims of 3 weeks in Rotterdam at face value ?

GLA.

sookma,

HUR has a relatively small number of short positions in place and most are as a result of CB Arbitrage by the CBHs anyway, so have no relevance whatsoever to your point.

HUR has been subject to a sell off (for reasons previously discussed) rather than a short attack, so your post is a load of old tosh.

Not sure why you would expect an apology when you are just highlighting your own ignorance.

I'm also not entirely sure why shorting has been such a hot topic on here today as it's not particularly prevalent here.

GLA.

"Most PI cannot take a position where they gain if the SP falls, that is why they are so against it." Ricfle.

Not true. Anyone can open a spread betting account with IG and short to their heart's content.

Just to be clear this is not investment advice.

GLA.

Hi wellwell,

I think you may be a bit premature in calling the bottom at 43p. Oil looks very likely to have another leg down left to go and IMHO 40p is where it's at.

Too late for any meaningful trading in and out. Just need to sit tight and wait for the bounce back up.

GLA.

Hi Boyzee,

Not overly worried about the SP as I'm happy with the fundamentals and all the information I have waded through over the last few years with regard to HUR.

It's a sod the that it has taken a hit of late and like you I don't think it's bottomed out just yet but I think we are very close (40p anyone ?)

However, I think now is not the time to sell, that was at 60p and it's long gone.

It's all about holding your nerve and reminding yourself why you invested in HUR in the first place.

GLA.

Boyzee,

There are plenty of reasons for the recent fall in the SP and all of them are in plain sight.

1) Price of Brent has collapsed from nearly $87 to $72 in 2 weeks
2) Stock Markets have seen a major correction (ongoing ?)
3) Derisking before FOIL
4) Mcap of £1.2B at 60p was a bit toppy (open to debate but my personal view was that it was a bit)
5) A combination of some/all of the above

I don't know why you suggest " a change in the fundamentals that we don't know of " as being a reason, when there are so many obvious reasons to chose from, without looking for something more sinister.

The only people who really thought FOIL was likely to be in late 2018 are the PIs on here (I was in that camp up until very recently) and as the company has always stuck to H1 2019, I can't see that as being a factor either.

FWIW I think we will hit FOIL in January 2019 and I don't think there is anything to worry about with the progress of the EPS.

GLA.

Donscot,

The AM is only scheduled to have the flare stack fitted in Rotterdam and that operation is estimated to take under a week.

Why do you think it will be there for three weeks ?

Don't hide behind confidentiality because it just doesn't wash.

If you can't answer that simple question, please can you do us all a favour and don't bother posting in future.

GLA.

Useful link for weather at Lancaster, including the all important wave height information.

Require a 6 hour window of waves less than 3m to hook up the buoy.

For example, Friday, Saturday, Tuesday or Wednesday would all be ideal.

http://www.windy.com/60.180/-3.870/waves?59.651,-3.867,7,m:fltaf2I

GLA.

Just stuck down by sixpence worth under the comments section of The Times article......

Hi escargot,

See P24 of HUR presentation.

http://www.hurricaneenergy.com/~/media/Files/H/Hurricane-Energy/documents/presentations/Hurricane%20Corporate%20Presentation%20-%201Q%202018.pdf

GLA.

Escargot,

OPEX is only about $20 per barrel. OPEX and CAPEX combined is not even $32 per barrel and comes in at roughly $28.

GLA.

RT advised 6 weeks in total including a one week stop in Rotterdam to fix the flare stack in the last Malcy interview

HUR have not issued any further guidance, so one can only assume that this remains the case.

Not sure why everybody is so excited about whether any extra work for the Spirit deal was done in Dubai.

FWIW I was advised this was not the case by HUR when I contacted the company directly. Any work required for the Spirit deal will be done on site at Lancaster nearer the time.

Makes sense, as I would have thought HUR's priority would have been to get the AM on site WOS as soon as possible and get hooked up to the buoy and producing oil. Any delays for extra work pushes further into the bad weather zone.

The priority has got to be FOIL especially when you consider that HUR have confirmed the required upgrades can be done whilst the AM is at Lancaster.

If extra work had been done in Dubai then surely HUR would have mentioned it as a justification for the sail away being slightly late ??

I'm going with what the company told me when I asked them.

GLA.

IJWT,

I thought I better add a list of things that the BOD have done that you haven't approved of, otherwise my comment may look a wee bit harsh.

I guess the upside is you must really rate their assets otherwise I fail to see the investment case from your prospective.

Dealings with Majors.
The structuring of the $530M finance package.
The Spirit Deal in it's entirety.
The delay (negligible mind) to the AM's departure from Dubai.
General Governance.

GLA.

IJWT,

What have HUR done specifically that comes under the banner of “keep thumbing our noses at the majors” ?

Please enlighten me because as far as I can see it’s the majors that have been sitting on the sidelines trying to smoke HUR out and waiting for the cash to run out.

It hasn’t worked as HUR secures independent funding for the EPS and a FO deal with Spirit.

At least HUR are now in control of their own destiny.

GLA.

IJWT,

What have HUR done specifically that comes under the banner of “keep thumbing our noses at the majors” ?

Please enlighten me because as far as I can see it’s the majors that have been sitting on the sidelines trying to smoke HUR out and waiting for the cash to run out.

It hasn’t worked as HUR secures independent funding for the EPS and a FO deal with Spirit.

At least HUR are now in control of their own destiny.

GLA.