Member Info for E_AL

Brent Crude Oil $41.32 +1.52%

WhichWayNow, you should take into account:

"The Group recognised a total tax credit for the year of $60.5 million. This comprised a $6.3 million credit under the R&D tax relief scheme noted above, and a $54.2 million deferred tax credit. Due to the nature of the Group’s business, it has accumulated significant tax losses since incorporation. The Group has $487.9 million of ring-fenced trading losses at 31 December 2019 and other allowances and supplementary charge losses of $761.0 million, which have no expiry
date and would be available for offset against future trading profits" From the annual report and group financial statement- April 2020

“ The market is projecting the worse scenario as if the company is going bust and if there was no remedies available which is an absolute joke that is reflecting in the current share price...”

@hasiba, the market is not only projecting worse case scenario but in fact detached from reality. From the operational update in April:

“ With a significant unrestricted cash balance of $152 million as at 1 April 2020 and low operating cash costs of $17/bbl, the current oil price does not pose an immediate threat to the Company as we continue our data gathering programme at Lancaster. ”

Current MCap is £131m , while the company’s unrestricted cash balance is $152 million! As if the market considered Hurricane Energy a cash shell company (A cash shell consists of a company name, a stock market listing, a director or two and a lump of cash in the bank.) .. the current market cap of the company is simply ludicrous ! “From RNS: The Lancaster EPS is currently producing from the 205/21a-6 well at a rate of approximately 10,300 bopd. The Company plans to increase this rate incrementally, to determine its maximum sustainable level. “

10,300 bops x $34 (today’s Brent price -15% discount for whatever reason) =$350,200 of revenue every single day !!

Not sure what the seller is trying to achieve selling at almost all times low. If it was an institutional investor then logically we should get a tr1 by now, otherwise if it was a shorter then he could easily tell that people are loading up whenever the sp drops below 6.7p so no point in keep pushing and playing his luck here. imo its too risky now for shorting

Ah ok, thanks guys

Reading the results of general meeting, it shows that all the resolutions received above 90% against-vote

How this could be possible if Richmond Group, the main shareholder owns 60.7% of the company's shares wants the board out?

I agree Eurofil, this is becoming more of a bad joke now! Brent is over $41.5 at the moment, our cost price is between 17$-21$ and we produce over 10K bopd

FTSE 100 Index
INDEXFTSE: UKX
6,282.97 +218.27 (3.60%)

Brent $41.11 +3.27%

Dunno for how much longer they could keep the lid on HUR but surely it will violently break out like a compressed coil spring!

I think the company's IR should look into this:

PMO 19% today's sp recovery 8.6% - Shorts: 8.74%
TLW 7.5% today's sp recovery 7% - Shorts: 7.84%

HUR today's sp recovery 2% - Shorts: 2.04%

Brent - today's recovery 2.19%
FTSE 100 - today's recovery 2.6%
FTSE 250 - today's recovery 3.05%

Yep, sp was 9.5p only 10 days ago but dropped because of the the FTSE's meltdown last week and the drop in oil prices. FTSE looks very healthy today and Brent showing recovery as well ($38.85)

They can't keep the sp down for much longer, so undervalued atm!

Two top ups from me at such a bargain price :)

09:16:35 5.333 53,104 2,832
09:12:35 5.34 100,000 5,340

Brent bounced back up , $39.78 at the moment , DOW & Nasdaq closed high last night and Asia’s indices have climbed back up:

“ Shares in Asia jumped in Tuesday afternoon trade as investors reacted to recent announcements by central banks.

The Nikkei 225 in Japan surged 4.1% in afternoon trade as shares of robot maker Fanuc skyrocketed 5.73% while the Topix index advanced 3.52%. Over in South Korea, the Kospi soared 4.28%.

Hong Kong’s Hang Seng index gained 2.95% by the afternoon. Mainland Chinese stocks were also higher, with the Shanghai composite up around 0.9% while the Shenzhen component added 0.983%.

Stocks in Australia saw robust gains, with the S&P/ASX 200 up 3.88%.

Overall, the MSCI Asia ex-Japan index gained 2.94%.”

late trade just got reported @ 113p

13:03:00
113.00
5,430
£6,136

Brent is creeping back up - Brent Crude $ 38.08

Thanks mate, will check it now :)

No it wasn’t me, I never posted (or read) anything about a board room coup

BTFATH1, add to that Monday will be the reopening day so that should boost the optimism in the market which would reflect positively on the index and the stock market too.

More people will start commuting to work, more fuel for cars needed so oil prices should see a little bit more recovery.

Some European countries will reopen their airports for public , more flights, more demand for oil, oil prices see more recovery:

“ Flights from Italy, Spain and the Netherlands to Athens airport allowed from June 1

“ RYANAIR, the number one airline in Spain, will resume more than 110 routes to and from Andalucian airports starting July 1 as part of Ryanair’s 2020 summer calendar. Some of the connections will be available from June 21.”

and if she announces tomorrow is the end of the world then I can guarantee you the share price will drop 99% lmao

C'mon man, why would they announce a well currently producing over 10K a day fooked?! fml

Good recovery so far

Brent $39.13
+1.53%

FTSE 100 Index
6,162.75
(1.42%)

Total trades so far 1,302

Vol. Sold 17,239,465
Sold Value £1m

Vol. Bought 26,770,560
Bought Value £2m