Member Info for Fez125

Shearclass - what is exactly meant be a fall in monthly bookings, monthly “bookings” of what exactly?

Noted.

What about the monthly average bookings being down. Monthly average bookings of what ?

Strong revenue growth and cash growth in the results

Seems the market didn’t like the monthly average bookings being down, what is exactly meant by monthly average bookings?

Also saying annual ROC liability of 33million seemed spoke a weird choice of words, specifying “liability” and the actual amount

He hasnt referenced it being a liability in previous trading updates despite it always being an annual cap ex, and also never mentioned the actual amount before, I wonder why he has this time?

No figure to compare the £33 million to from the few previous July trading updates I’ve seen?

Thoughts ?

It’s the opposite of soft

He is saying that elements are against them, i.e lower prices, yet they are still on track to meet the market expectations which was forecasted to be 50% growth

Baring in mind 60% growth has just been achieved in H1

Lol so obvious to see how many accounts “planted” has after this sobering update

Appointment of new ceo experienced in FB. Production back up and running & sniffing about for a drilling rig. Buy and enjoy the rise in the coming months. All negativity has been priced in with previous doom and gloom rns’s

They did have the Stena don scheduled in to drill earlier this year slift before the pandemic so if resources are viable enough I would imagine they will carry on with the planned drill but probably at a discounted rate then first agreed. Bleak day for shareholders, nothing short term In terms of raised SP but next year could be a different story, slow burner this SP but with a bit of luck in 6-8month time it’ll be a far brighter outlook. But as of now it’s ride out the bleak low SP storm to all those who are willing to wait, myself included

Hurricane Energy plc

("Hurricane" or the "Company")

Lancaster EPS update

Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, provides an update on the Lancaster Early Production System ("EPS").

The Company is pleased to report that the commissioning of the Electric Submersible Pumps ("ESPs") has been completed successfully on both Lancaster EPS producing wells. Following the successful ESP commissioning programme, the 205/21a-6 well has been returned to natural flow, while the 205/21a-7z well will continue being produced using an ESP.

Following the Company's most recent update on 8 July 2020, a period of ESP testing has seen Lancaster EPS production increase from c.15,000 bopd to c.17,000 bopd as oil and water production from the 205/21a-7z well has stabilised.

Currently, individual well production rates are as follows:



205/21a-6
205/21a-7z
Oil production
bopd
c.12,000
c.5,000
Water cut(1)
% total fluids
c.12%
c.53%
1. Expressed as total water produced divided by total fluid (oil and water) production

With the 205/21a-7z well currently flowing using the ESP there has been no evidence of the performance issues which led to this well being temporarily shut-in at the end of May 2020.

As part of the ongoing geological and technical review, the Company continues to evaluate options to enhance production from its West of Shetland asset base. Production guidance will remain suspended at this time until the technical review is complete or until production uncertainties have reduced. Further Lancaster EPS production updates will be given when appropriate.

Hopefully early because they’ve upped production and needed it out earlier ;) couldn’t be more in need of a RNS

Hoping for a 7am RNS tomorrow to answer all these questions. A lot of worries and unease at the moment. Let’s hope for a stable water cut & increased production, or at least plan to slowly increase and this stock should fly and never see these lows again. The next RNS is going to be significant either way you look at it

Correction 22nd July at the latest ** two weeks after the 8th July RNS

Began commissioning the ESP’s on 3rd July as per the RNS. Depending on how long that would take the period of testing is upto two weeks, so 15th July at the latest, would presumably be make or break day for the share price, following the RNS ops update