Member Info for CaptainSwag

from the old RNS I would expect it to have been delivered from one well. hopefully second well is / or soon to be put back into production and the ramp up to 20k bod.

oilbeback - I am afraid when DSPP started producing scattergraphs with very limited data he lost any credence with me. I initially described him as a little knowledge as a dangerous thing merchant. However his subsequent fixation with the water cut and thinking he knows better than the board or else they are lying - and I now suspect he has an ulterior motive.

My suspicion is that he is knocking confidence to try and drive the price down - he can then load up knowing it will go up when Hur confirm everything is OK later on.

I Might be wrong .......

personally I wouldn't expect any new partners until HUR have confirmed the longetivity of lancaster.

This could possibly happen around CMD - as some have suggested September was the start of continuous production.

the way i look at it is that every offload is further evidence of the long term prospects. If we do ramp up to 20k bod they should be happening a bit more frequently and that should support SP.

Nice to see a blue day!

fandg2 - fair point. you are right.

Still unfortunate timing though.

got to say the timing of issuing shares wasn't the best....LTH are suffering a lot at the moment.

"Personally, having reread DSPP's posts I find it hard to believe he is trying to discredit Hurricane. "

I initially gave him the benefit of the doubt ...but I am afraid that his continuous inference that Hur are being dishonest now seems to suggest an agenda to me. saying he is still invested may or may not be true ...but it does not give him a free pass.

biffadog - good post.

I had a look at his lemon post and gave up as soon as he posted

"Since they are not revealing the data itself we are left with the unpalatable choice of believing or not-believing their interpretation."

If this was a Lenigas company fair enough. However Hurricane is a serious company who have made it clear they are operating under main ftse guidelines. Trice has always been conservative in his reports. also look at how quick they were to dispel positive rumours.

I am afraid I am left with the very palatable choice of believing the world class fractured basement expert or the dspp's delusions of grandeur ........complete with scattergraph and crayons.

chinski - great post. short and to the point

silence does not imply a problem.

Do we really want Trice checking SP all the time and reading BBs to see the latest deramp? or do we want him doing what he does which is sorting out the geology stuff? testing...get oil out of fractured basement

if there are no issues why would he be worried about a temporary blip in price? he is probably just sit there saying "meh I have told them if they do not believe ...fine...they will see."

I have seen some twitter stuff where they are desperately quibbling over semantics now..."confident " has been written so this does not mean fact and therefore it is all water!..

You just have to look at trices character. he is understated..he never promotes but is always on the cautious side. if someone like him says he is confident you know that he is 99.99% sure.

so yes there is always a possibility but then so is there of a giant squid humping the rig.....it is being overstated .

i agree with jason - the board can't really win. As much as I would like an RNS (again) saying everything is on track I think they are doing the most professional thing in not giving attention to the naysayers. if the release one RNS denying it then there will only be further negative rumours on something else or that the board are hiding or lying.

Another painful day...especially after topping up yesterday...but there is not much to be done other than wait it out.

I don't get the impression Dr T cares much about sharehoolders so My guess is they won't be buying back shares. I think any cash made will be ploughed back into developing the big one or more exploration.

i dont see a deal with spark either. They want someone with a lot of cash to farm in and monetise their assets. Hur probably want the same for a full field devlopment - although with making cash they could potentially do it themselves with time.

I would not expect the company to issue an RNS on the SP fall. They are getting on with production and are not interested in the whims of the market. they have said everything is going better than expected - no need to keep repeating it. In addition everytime they give any info out - it gets manipulated to give false rumour. What's the point.

If spirit do exit from deal. I see that as a good result too. We get the asset back 100%- possibly compensation and the poor drill results were funded. Hur will have learnt a lot from the drills on top.

hopefully next RNS is approval for the lincoln tieback. with a subline that we are up to 20k bod

Thanks bartle. not sure i can resist another top up before close!

the Hargeaves one doesn't show my £20k top up at 15.18. even though bought through HL....does show on lse though.

second top up of the day.

if september is the start date - we could possibly get the full go ahead at CMD......now that would be something!....it would certainly shut a few people up and give a rerate

you are right long wait....my bad...or rather bad memory!

you would have to ask buffett but i would say being able to wait as long as it takes without getting anxious.

Hur have told us they need 6-12 months of continuous production to confirm long term field. we have been producing since July.

Later this quarter we will be producing (touch wood) 20K bod. we are currently on a mcap under £600m with a p/e ratio of under 3. generally oil producers are on a p/e of 25.

something has got to give at some point.

it is not that people have given up - only that there are so many times you can reiterate "read the RNS". Hur are chugging away producing more oil and there isn't much more to be said. eventually the tide will turn. It might not happen for a while but when it does I suspect it will catch people out.

the people that were being so helpful and caring in wanting to alert us to all possible (non existent) issues being hidden - have done the damage. I suspect some are loaded up now waiting for the rise. it has been painful and I feel for those who sold out at a loss. it is going to be even worse when it goes back up and they realise they should have stayed put. Hur did the same when it went to 10p. The RNSs have been saying all along results were better than expected on lancaaster - if you choose to read or listen to something or someone else then you only have yourself to blame.

Spirit were unlucky. they helped fund the exploration and it didn't come in as hoped. I suspect they would be happy for the rig to be put to good use at lancaster and claw some money back.
I also suspect lincoln will come into play in the future so they will get some result out of it.

The rest is just waiting..as a certain mr buffett says

"The stock market is a device for transferring money from the impatient to the patient." The pitfall of many investors is that they want profits, and they want them fast!

Omg 14700 bpd....thats not want they indicated previously. Damn hu always lying and trying hard to hide the bad news... That's it I am out...

good article - thanks miss dosh.

I think that has answered many of the issues that have been dragged up over the last month or so as potential pitfalls.

I see that there have been questions over why HUR are drilling another horizontal well at lancaster - when it was quite clear on the benefits of using an idle rig. Further more the idea for a producer is to get the stuff out as much as possible and as quickly as possible - so it shouldn't be such a brain tease why a company would want an extra well.

this article puts this in black and white - though I am sure there will be those who can as usual add 2 and 2 together to get 5.

Excellent post biffadog... And pretty much as I see it. Though I didn't know about shutting well to reverse aquifer.

To be honest the guy lost any cred with me after his scatter graph.

Wouldn't waste time on him. It is unfortunate that some who don't seem to use any rational thinking are being swayed by him and panicking /selling. Especially if he is being honest and not doing so himself. And he hasn't provided any real evidence in my eyes to justify a sell.