Member Info for Elementary

Excellent stuff here by the new absolutely outstanding proactive HUR BoD:

Dear ......,

Thank you for your e-mail message earlier today.

The non-executive Directors understand and share your concerns and have begun to investigate these matters.

We will convey our findings within a month.

Yours faithfully,

David Craik / John Wright

And let's not forget permission was granted..

"..Hurricane Energy plc, the UK based oil and gas company, is pleased to announce the approval of the Lancaster Field Development Plan Addendum (the "FDPA") by the UK's Oil and Gas Authority (the "OGA").

The FDPA approval, together with associated production, flare, and vent consents, enables production with the flowing bottom hole pressure up to 300 psi below the bubble point pressure of the fluid (1,605 psia at 1,240 metres TVDSS), subject to the Company ensuring that no incremental liberated gas is produced to surface.

The initial consent is for a three-month period from 16 June 2021 to 15 September 2021. Production, flare, and vent consents will be issued on a three-monthly basis. The Company will regularly provide the OGA with data to demonstrate conformance with the consent conditions.

In line with the FDPA, the Company will ensure that no incremental liberated gas is produced to surface and commits to choking back or shutting in any well which may produce incremental gas liberated due to below bubble point production..."

Interesting to note that Institutional Shorters here now seem to be rapidly closing their HUR Short Positions, particularly with the new HUR BoD in full action and Brent reaching ~$80 (both Kite and Astaris have just further reduced their positions with now only Kite remaining with a very small position which will also likely be closed soon):

https://shorttracker.co.uk/company/GB00B580MF54/

Looks like bids are coming back in, way oversold here on nothing, PoO will also be back above $80 before the end of the week.

Good to somehow see nice coordination here on RNS timings with CA, and absolutely great to see return of some form of efficiency/planning back here in HUR with the new BoD taking grip, GLA.

“Heading to 5P, let’s hope double to 10P”

HUR SP was artificially suppressed by the old incompetent BoD in order to help them achieve their incredibly crooked giveaway agenda/scam, otherwise, anything less than 20p as absolute minimum here is a joke of a MCap for HUR, particularly with Brent today hovering at $80+ and still forecasted to go lot higher in Q4, DYOR.

From ADVFN today:

https://www.ii.co.uk/analysis-commentary/what-are-chances-oil-prices-hitting-122-ii521400?utm_source=newsletter&utm_medium=email&utm_campaign=NEW-DLY-ENGAGE-ii_afternoon_round_up_160921%20(1)&utm_content=newsletter&spMailingID=15339904&spUserID=Mzc4MzIwODk0MDQ2S0&spJobID=1834925578&spReportId=MTgzNDkyNTU3OAS2

“As a result, we’ve taken a further look at the tea leaves as the visuals now imply the price need only exceed $78 anytime soon, with fireworks possible thereafter. From a near-term perspective, there are plenty of arguments suggesting such a movement is very possible.

Above the $78 level now suggests continued travel toward $96 initially. If exceeded, our secondary calculation brings the potential of a high at $122. This will doubtless be great news for those holding shares in oil companies. But folk forced to purchase heating oil will doubtless remember the ‘jaw drop’ prices being asked, last time crude oil surged above $100”

"...Espec as cash positive commercial production currently forecast to last till early 2024. Hurr could , doing nothing, be sitting on $200mill cash pile by then,"

FWIW
https://storage.googleapis.com/crystalamber-com.appspot.com/_downloads/monthly-net-asset-value-2021-08-05.pdf

States "...Based on historic margins, this would deliver operating cash flows of in excess of $250 million. "

Nicely highlighted fandg2. HUR is clearly way too oversold and undervalued at the moment but markets often do that but in the end do always adjust overtime, and now with a new proactive Board of Directors in place along with $75 Brent (forecasted to go lot higher from Q4), HUR market capitalisation will massively and positively re-rate north from these extreme lowball levels as we move forward, DYOR.

Brent price is now surging towards $76 here, only great times ahead for this clearly way undervalued and oversold company with it’s new BoD now in place.

Now with Brent at ~$74 and still rising, HUR SP is undoubtedly one of the most undervalued and currently strangely oversold shares trading in the U.K. markets, please DYOR as this must surely be a Multibagger in the making with potentially many key updates pending here ahead!
GLA

Brent currently up ~1.5% today and climbing nicely/looking very good at ~USS $74:

https://tradingeconomics.com/commodity/brent-crude-oil

https://www.google.co.uk/amp/s/www.thisismoney.co.uk/money/investing/article-9977881/amp/SMALL-CAP-MOVERS-Glass-half-Hurricane-Energy.html

Unlike the old extremely incompetent, and as evident in Court also corrupt BoD, looks like HUR’s new BoD along with CA clearly have a strategy here along with relating plans ahead, all good to note.

“Upside potential in HUR today by far outweighs any downside risks; HUR with it’s new BoD firmly in place is now clearly way too oversold/undervalued and hence IMHO, a sitting multibagger here, so don’t giveaway your soon to be extremely valuable shares for almost free, particularly when trading volumes are this low where SP for small MCap companies can be easily manipulated”

“Once again worth noting that 10p+ is what Hannam and Partners had stated as absolute minimum here based on way less than $60 Brent with Ex-BoD in place, and still vey much stands but now with significant potential upsides here based on various scenarios; narrative here as known so far, has all been stated by the now Ex-HUR BoD, and were clearly all lies created to fit a deceitful, incredibly corrupt “giveaway scam” agenda of an incompetent ex-executive team, however, as the true HUR story now slowly starts to emerge here, I believe company market capitalisation will subsequently also rally north towards much more deserving levels into double figures”

I concur with both statements here and strongly believe that with new management now in place, HUR market capitalisation will rally up to much more deserving levels during this year, always DYOR.

All CA HUR share purchases since last September’s deliberate and brutal kitchen sinking of the company’s market capitalisation here (by the incompetent crooked Ex-BoD) were at over 3p, and lot lot higher for anything before that date, hence although obviously CA average is not ~18p today but I certainly believe it to be very much higher than 3p, DYOR.

“Good list and fine points raised, HUR market cap today is somehow strangely close to Zero as if it’s vast WoS assets, licenses, extremely unique HUR IP, along with cash in bank, ongoing ops/logistics, tax credits …etc. are all worthless, don’t give away your shares for anything less than double figures here and filter the noise, GLA.”

I concur, and personally believe that the “extremely unique HUR IP” has so far been totally ignored and is certainly very much underestimated/undervalued in same way as rest of the listed items/assets.

“The thing is any bidder or fund as you suggest could not simply buy 25% of Hurricane on the open market at 2p a share without sending the SP back above 5p - demand would push it up as would any TR1's. they could I suppose do a deal with CA, but RB would certainly be looking for multiples of 2p per share.

Ashurst are already following the situation and have been since before the Court hearings. It wouldn't surprise me if Evercore, Dentons etc haven't already been asked for tactical or strategic advice regarding Hur by potential suitors, or possibly even our own BoD, who knows.
I do think that a Consortium of Private Investors would be more likely than any established O&G company if any M&A action was on the cards. - Any entity with deep pockets that didn't have to answer to any PI's could take control, pay off Bond Holders, refinance a forward work-plan, appoint 2 primary contractors (Petrofac and ASCO!!!!!!) To run the show and then sit back for a few years and enjoy. ”

Good Post Cebo, and very much looking forward to the various initiatives/updates from the new HUR BoD.

“Extension news of AM will be welcome or another CA TR-1”

Personally expecting AM extension news as minimum company update here from the new BoD this very month, GLA.

And to add to your stated list here FatSam, how about eventually a new and truly independent “CPR on West of Shetland Assets” of HUR, especially since the one conducted by the previous board was motivated by a personal agenda (and greed).

Outlook and potential for progress here is now extremely bright, while HUR MCap today is unbelievably cheap!

“As previously announced, the Aoka Mizu underwent its scheduled annual maintenance shutdown during the month, with production resuming on 27 July 2021. Immediately prior to the shutdown in early July 2021, the P6 well was producing at 10,900 bopd with an associated water cut of 32%.

As of 14 August 2021, Lancaster was producing 11,500 bopd from the P6 well alone with an associated water cut of 29%. Production and water cut are expected to reach previous levels seen prior to the shutdown, and a further update will be given in the Company's next monthly production release.”

“This is from Greenpeace. No way imo that this will lead to anything changing for Hurricane in the next ten years.”

Spot on Rosie, completely irrelevant to HUR till at least 2050, and noise here is predominantly Cambo project related.