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Brent at circa USD $58, and very timely for HUR BOD/Executive Team who likely couldn’t have wished for better tailwinds here at this key juncture.

“Oil price surges on signs of a tight global crude market”:

https://www.worldoil.com/news/2021/2/1/oil-price-surges-on-signs-of-a-tight-global-crude-market

Extremely interesting; institutional Shorters here are now reducing continuously and on daily basis at the speed of light!

1nvest, Certainly not the case even if comparing with peers, for example, Short positions in PMO have only gone up in January (up on both 25 & 28 January 2021) and there have been no reductions there since September, also, latest changes in TLW positions were increases in Shorts and were on 13 & 26 January 2021, hence the 3 consecutive Short position reductions in HUR seem very much HUR/Company specific and extremely positive.

Updates imminent here, and kitchen sinked SP currently priced for Armageddon, HUR has potential to be THE U.K. Multibagger of 2021 with truly massive upside potential ahead, DYOR, and GLA.

HUR is likely today the most undervalued/oversold share trading in the U.K. markets based on company forward potential/fundamentals including increasing net cash, tax credits, extremely prolific West Shetland acreage to further explore and develop along with rising oil prices, DYOR.

Apart from “Simply Wall Street”, “Proactive Investors” have now also turned very positive here as stated by their recent note on HUR below:

"Hurricane Energy (LON:HUR): Water cut at Lancaster remains under control":

"Our take: Following an extremely challenging year for Hurricane, today’s update is much more positive on outlook. Production is in line with expectations, and a December lifting from Lancaster, and higher oil prices combined to deliver a US$19m million increase in net free cash at year-end compared to end November 2020. A continued recovery in oil prices would further enhance the value in the Company’s West of Shetland portfolio. It is also encouraging to note the continued control of the water cut at the Lancaster EPS which is now below Q3 levels through what appears to be strong reservoir management."

https://www.proactiveinvestors.co.uk/companies/news/938454/today-s-oil-and-gas-update----wentworth-resources-zephyrenergy-tower-resources-938454.html

This continuous weekly plunge in Oil stockpiles, latest of which now being a massive ~10M, simply highlights extremely tight supply/demand fundamentals ahead for crude, and subsequently, lot higher Brent prices as demand recovers with minimal investments in the O&G industry during past 6+ years. Now, also as mentioned by others, needless to say that HUR revenue and net cash will clearly also substantially increase this year providing much needed cashflow/funding in a company of currently joke of a market cap at ~48M! So something tells me that this crazy low valuation here has to change significantly to the upside, and pretty soon, DYOR.

Also agree. At HUR’s current extremely oversold lowball valuation (i.e. ~47M joke of a market cap today), equity raise is meaningless, but I do agree that a share buyback here can now make a lot of sense, time will only tell; HUR is in a relatively strong and improving position with decent cash in the bank, rising oil prices, outstanding West Shetland acreage, and bonds not due till 24 July 2022, hence, plenty of time to discuss funding with variety of parties in today’s ultra low interest rate environment, all IMO, DYOR.

Noteworthy here that HUR now likely has the required cash flow/production to take and build on the immediate company challenges of this year, and with “Year-end net free cash1: $106 million, compared to $87 million at 30 November 2020” which will still continue to significantly rise as we move along with potentially higher oil prices ahead.

CA note on HUR today, will now likely act as a catalyst here to speed up ongoing HUR stakeholder discussions, widen available options and thereby, help reach an optimum solution for the company ASAP, IMHO.

Obviously this is all speculation likely fuelled by CA’s seemingly HUR positive RNS today raising potential farmout options here which suggests that with Brent looking bullish at circa $56, there is likely numerous interested parties/farmees looking to potentially invest in HUR’s rich lucrative assets, and that is certainly something that all stakeholders and even potential bidders here will likely consider, DYOR.

All sounding extremely bullish for Oil prices (and by default for the kitchen sinked HUR) ahead.

“Biden’s plan to cut U.S. oil production”:

https://www.worldoil.com/news/2021/1/22/biden-s-plan-to-cut-us-oil-production-becomes-clearer

“Focus on stimulus efforts to help boost demand, analysts say”
“Delay in lifting Iran sanctions to further supply tightness”

https://www.google.co.uk/amp/s/www.bloomberg.com/amp/news/articles/2021-01-22/goldman-says-biden-s-first-steps-are-bullish-for-oil-prices

I concur, all here mentioned HUR updates should actually occur this very quarter with more then expected as the year progresses.

Interesting read now that Biden has finally been inaugurated.

“Goldman says a Biden win could be a 'positive catalyst' for oil prices”:

https://www.google.co.uk/amp/s/www.cnbc.com/amp/2020/10/12/goldman-says-biden-election-win-could-be-positive-for-oil-prices.html

Brent prices up again today, and looking extremely good as Biden is about to commence his term, also, it’s been made very clear in the latest HUR RNS that every additional $ increase in Brent prices has a massive impact on company “net free cash” and thereby, provides Executive Management with a very much stronger hand in any stakeholder discussions, DYOR.

“Oil caught up in early commodity supercycle fervor”:

https://www.google.co.uk/amp/s/www.hellenicshippingnews.com/oil-caught-up-in-early-commodity-supercycle-fervor/amp/

IMHO, reason HUR BOD cannot top up/buy shares here at present is primarily because they are currently engaged in key stakeholder discussions on forward plan funding/bond extension and additionally, HUR’s updated CPR is now due out by the end of this quarter and can also significantly effect company SP, DYOR.

And Brent now up more than 2% at ~USD $56+

Brent up, and all sounding extremely bullish here:

“Investors Flock Back Into Oil for Reflation Trade, Hedging”
“Brent, WTI futures holdings at highest level since May”
“Some investors making inflation trades, others hedge supply”
“Investors and oil companies are rushing back into the crude market.”

https://www.bloomberg.com/news/articles/2021-01-19/investors-flock-back-into-oil-for-reflation-trade-hedging

HUR’s latest update highlighting significant “Year-end net free cash1: $106 million, compared to $87 million at 30 November 2020” and Lancaster water cut stabilisation or as Proactive Investors now nicely put it “water cut at Lancaster under control”, all now means that I’d HUR decide to do the side-track ASAP without any further finance, they likely easily can and if as Hannam & Partners state, this then “will add a significant amount of incremental production starting in Q4 this year (2021) at an estimated cost of US$60mm. Hannam & Partners believe this could potentially allow production to return to 20Kbbl/day in 2022 and thereby, providing enormous additional revenue/resulting net income here with POO still potentially rising further, consequently, plan funding for drilling program will not be a challenge for HUR”. All sounds outstandingly bullish IMHO, particularly at current way oversold SP levels.