Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, provides an update in relation to planned activities on the Lincoln subarea of Licence P1368, part of the Greater Warwick Area ("GWA").
In light of the COVID-19 pandemic, Hurricane has requested extensions to certain licence commitments pertaining to Lincoln. The Oil and Gas Authority has responded positively to these requests, extending the deadline for commencement of the GWA joint venture's commitment well on Lincoln to 30 June 2022 and extending the deadline for plugging and abandoning well 205/26b-14 (Lincoln Crestal) to 30 June 2021.
Petroatlantic has had oil on board for a few days from an offload from Glen Lyon so was a calculated guess when they tied up together that it must of offloaded onto the North Sea Tanker... Petroatlantic destination Lancaster Oil Field 09:00 25th February just updated.
Petroatlantic has been dumping its oil on the North Sea Tanker in the Scapa Flow... Petroatlantic & the North Sea tanker have 3 tug boats around them... Petroatlantic leaving imminently with destination TBC... Meanwhile the Heather Knutson is steaming for Glen Lyon (BP Oil Field) surely Petroatlantic is heading for the Lancaster Oil Field. GLA.
My favourite site says Petroatlantic now departing today at 23.00, still unknown destination
Yes i have the same fella it looks like the Petroatlantic has brought forward it’s departure by a few days and has offloaded its oil onto the North Sea tanker... Glen Lyon (BP oil field) had an offload a few days ago so hopefully the Petroatlantic is gonna be leaving in the next 20 minutes for the Lancaster oil field fingers crossed. GLA.
I believe the Aoka Mizu can hold approx 600,000 barrels, the last offload was on the 21st January when we were running at 12,900 barrels approx... So at 12,900 barrels until the 31st Of January = 129,000 barrels approx and then if we assume that both wells started running concurrently at 20,000 barrels for the 19 days of February to date = 380,000 so all in all approx 500,000/510,000 barrels give or take meaning we only have approx 4/5 days of capacity left on the Aoka Mizu so we should be expecting an offload very soon!
Surely now with the Mkt cap at just £322M the bod should be looking to buy back shares to cancel? If they purchased 15% of the shares it would equate to £48M but would cancel out about 300M shares surely with the share price being so low this would be a great time to do so! I can’t see how this would get in the way of any future plans either when the company is grossing about £1.1M a day based on 20k barrels?
The current position of NAVION OCEANIA is at coordinates 59.93378 N / 2.48457 W reported 1 min ago by AIS. The vessel is en route to GLEN LYON, sailing at a speed of 9.4 knots and expected to arrive there on Feb 7, 02:00.
Marshall Wace upped to 0.71% from 0.60% on 16th January, (HUR) share price down 18.69% to date.
Caius Capital LLP 0.52% Short added on 28th January, (HUR) share price down 13.89% to date.
Squarepoint Ops LLP 0.50% Short added on 29th January, (HUR) share price down 11.37% to date.
Total shorts disclosed that are over 0.50% are 1.73% total of the (HUR) market value today £421,000,000M
1.73% of 421M is only a short of 7,300,000 shares! (HUR) had 17M shares bought more than sold yesterday alone! (HUR) had another 12M/15M shares bought more than sold today if the after hours trades were buys, So that’s 29M/32M more shares bought than sold in 2 days!
Shorters will be burned in the long run, Hold tight and watch it rise!
All eyes will be on the 9th offload in February now, 7th offload 21st December 8th offload 21st January Approximate offloads of 400,000 barrels If both wells are now running concurrently we should expect the 9th offload before the 21st of February.
Patience is all that is needed until March CMD we will have the 9th offload in Feb £25M+ then the 10th offload in March £25M+ We will also have CMD in March. Dr Trice has said before that he is looking forward to the CMD when he will be sharing data & news with us then. I don’t think he would be looking forward to it if there was bad news to share with us, He also stated at last years CMD that if there was bad news he would not withhold it from us and would update with an RNS. GLA