We would love to hear your thoughts about our site and services, please take our survey here.
Thank you really appreciate the reply. I have a fair number of shares in a SIP and after losing such substantial amounts on HUR I still hold the PRAX shares there awaiting the periodic payments - whilst paying a fixed amount to Standard Life each year to maintain this account. When I asked to get this fixed amount reduced they suggested I sold the shares and closed the account - definitely not doing that as I can expect up to around £19k to come in through the payments by December 26.
Apologies in advance as I am sure this has been covered many times before. Can someone please summarise what we can expect in terms of cash payments for our PRAX shares and what the key dates are?
Apologies in advance as I am sure this has been covered many times before. Can someone please summarise what we can expect in terms of cash payments for our PRAX shares and what the key dates are?
and my 830,000
"How many active platforms does Hurricane have?"
none....one active FPSO though
I have my suspicions about some one who states " my knowledge of the oil industry is extensive (32 years) " and follows up a few lines later with - "a single rig moving towards its end of life"
"Followed by the voice of doom (Mirasol)"
However, to be fair this is what is holding us back - we do only have one well. Any RNS that outlines a strategy to secure the AM and drill additional wells within a reasonably short time frame will have significant impact on the sp......right now as Mirasol correctly points out we are reliant on one single well.
0161
"this is without even opening the other well which now I feel is likely to be announced"
I am a little confused now - can you explain exactly which well and how this could be achieved. There is so much contradictory information on here I would like you to detail what you believe can be done.
Topcat - "If HUR CEO & CFO intend to seek re-election at this year’s AGM (as I believe they do), I then expect them to complete CB purchases here ASAP and subsequently for a debt free HUR to renew the BW AM contract which is an absolute no brainier, especially in today’s environment, I envisage a very much higher MCap here by the upcoming AGM."
what leads you to believe they are seaking re-election? Genuinely interested - have you spoken to them?
Nidgeyr - think you have mis-understood Rangers1 message to you......he mentions the P&A well - you refer to it as Suspended - big difference.
That's impressive Senseman - well done...you have done everyone a favour there.
I actually posted the article yesterday not knowin if others had done so earlier as i was without power, internet or phone for three days
I asked yesterday but didnt se an answer - I still dont understand why Maris and Chaffe are still on the board - what is the process for removing them and why has nothing been done to date?
I will have missed it but can someone simply explain why they currently remain, the process to remove them and why that has not been done to date?
in full.....sorry if this has already been posted but only got power back through the night......
Investment fund Crystal Amber has claimed that prospects for the flagship Hurricane Energy Lancaster field may be better than have been presented, and that it could sustain production to 2025.
The AIM-listed fund currently owns 28.2% of Hurricane Energy (LON:HUR) and is the company’s largest shareholder. It describes itself as an activist fund which takes stakes in “undervalued small and mid-cap UK companies” and initiates action to enhance value.
In a January 28 update, the fund’s owners said that Hurricane could generate up to $550 million (£409m) in revenues from the field by February 2024, based on production estimates set out last year.
As of January 15, Hurricane was producing around 9,650 barrels of oil per day (bpd) from the P6 well at the 100% operated field, with an associated water cut of about 39%.
Production is tied back to the Aoka Mizu floating production storage and offload (FPSO) vessel, and output averaged 10,000 bpd over the final three months of 2021, the operator said in a recent trading update.
Crystal Amber says that if production from Lancaster continues on its anticipated trajectory, Hurricane should be able to generate revenues of approximately $550m (£409m) and operating free cash flow of $278m (£207m) by 2024, based on Brent prices of $85.4 per barrel and the forward curve.
The fund notes that P6 is currently producing in excess of Hurricane’s guidance, with January’s output above the 9,100 bpd forecast for that month.
It adds: “The Fund believes that production could be extended through to at least January 2025 and, if so, based on the rate of production decline published by Hurricane in May 2021, this could generate revenues of approximately $750 million [£558m] and operating free cash flow of approximately $375 million [£279m], equivalent to 14p per share.”
In the event of any corporate transactions, Crystal Amber said additional benefits to shareholders could also be realised from the company’s historic tax losses.
The fund said it had written to Hurricane to request that one of its investment advisers, Juan Morera, be appointed to the company’s board with immediate effect.
Production decline
Hurricane’s stance on Lancaster’s prospects has been more cautious.
In October, the company said its production guidance of 8,500 – 10,000 bpd for the six months up to March 31 2022 would be slightly lower than average production for full-year 2021 “due to the expected gradual production decline from the reservoir over time, partially offset by the higher FPSO uptime assumption.”
It has also warned that the field was expected to hit its ‘bubble point’ – the point at which reservoir pressure declines and gas is liberated from oil – by the middle of February 2022, which “could result in production being reduced or ceased altogether”.
This point was reached in December, though Hurricane sa
https://www.energyvoice.com/markets/383982/hurricane-energy-crystal-amber/
No way would they be able to do a ship to ship transfer in current weather. My power was off for 24 hours but braced for further power cuts tonight. So many trees down and rooves blown off....cant imagine how it must be at sea
Senseman - I absolutely wish for all those points to come true and for true value to be realised here (I am one of the long-term holders who is seriously underwater and quite frankly over exposed here on a ridiculous scale)
However, on what basis do you believe that it "likely" that production from well 6 will extend to 2024 and that again it is "likely" that a new 3rd CPR will improve on the previous one - do you state this with any logic or fact to back it up or is it simply wishful thinking?
Just sent email as requested....can I get 40p back per share (880k) now please?
Stick to HUR Schlemiel - we have pointed it out before, you clearly know nothing of Scotland nor politics in Scotland. You are a good poster when it comes to HUR but come across as a bitter Unionist when it comes to ploitics.
"If HUR survives, which is very likely at oil prices c. 70USD, then I am expecting share price to go up to 15-20p. Return from investment will be huge"
or as I, and many others on here would put it, return from investment will be around 50% of initial outlay
No shares updates today? Is it an English holiday and stock market closed?