Member Info for Genghis15

" I fear that it calls in to question the prospects for the wider extraction from the Rona ridge ."

Not sure why you think that ; the 2019 well results have certainly delayed things, but given Spirit's situation, this was really just a natural progression.

Once the EPS is proved, the wider play should once again attract attention, given, of course, a supportive PoO.

That statement appears to me be merely a rephrasing of what we know from HUR's RNSs.

100%?

JAdam, once the well uncertainty is positively addressed I would think 300 to 400% perfectly achievable, given supportive PoO environment.

Share buybacks are for cash rich companies with no other use for their cash. Any ST SP benefit is usually only rewards executive option schemes.

the value to be added here is enormous, but requires further development. To start share buybacks would be an indication of stagnation and failure, not an indicator of huge unrealised value.

Thinking caps back on, please, gentlemen.

CA can pitch any ideas it likes, I can't see them getting any more traction than some of the ones on here.

Share buybacks would be dumb, and HUR will know it ; they have much better uses for cash in drilling, development, and just mb, provision for CB maturity.

Share buybacks are a a ridiculous suggestion for a co of this nature, Bernstein should know better.

There is no comparison to AMER.
Jurisdiction, director reputation, reservoirs, reserves potential, production, all totally different. just simply irrelevant.

If you take the slightest notice of that sociopathic misfit you may be on the wrong meds......

""Malcy said earlier " I understand that operationally all is going according to existing guidance.""

Yes and Malcy is not official and has no governance wrapped around him - speak to the company."

True, and that means it is deniable. Nevertheless, I would say it is a message the co is seeking to put out, without wishing to RNS it ; my point is it is not just Macy's opinion, it has come from HUR.

Given its deniability, I agree it is not as reliable as an RNS, but some reassurance nonetheless, perhaps?

Malcy said earlier " I understand that operationally all is going according to existing guidance."

I repeat, forget AS.

Malcy is a paid mouthpiece, so HUR wanted the message out, but didn't want to be drawn into constants RNss, so have used him to say "in the meantime I understand that operationally all is going according to existing guidance."

CFOs come and go. Production and well performance is what matters.

https://www.malcysblog.com/2020/02/hurricane-energy-4/

"in the meantime I understand that operationally all is going according to existing guidance."

Forget AS, that is the potentially significant statement, even if it is at arm's length from HUR.

fang
Pardon my irritation, I have used other bb s similarly where I haven't had time to keep up.

But I recall your handle here for a considerable time now, and really thought you would have had time by now to know about gas solutions, which are pretty important to understanding what HUR is about.

Does no one here do any research, or are you winding me up?

Gas reinjection is not an option, at least at this stage, for reservoir reasons. If t were, it would require a dedicated well and lots of subsea infrastructure.

FFs, take a good, long read of the backstory on the website.

flaring permit. Tbc, WOSPS tie in (or other solution) is mandatory.

The Lancaster flinf permit is for a limited period, mb 3 years, I think.

WOSPS tie in is not optional.

This 35 of MAM's direct portfolio ; much less when the PE component is included ; then there is the 3rd part AUM .

just how far do you really nthink MAM's sp will move, even if this takes off?

I guess if enuff PIs move in, you might make a turn ; but the impact on MAMs true mcap is tiny.

Please think this thru.

What you are saying is that HUR might commit to spending tens of $m to satisfy an interested buyer who has signed no agreement (RNS able!) rather than drill commercial producers. Nonsense.

FB, not DB.

1. Spirit have always had a parent ; it is he sale to an as yet unknown new one which has b$ggered things.
2. I don't understand your "pre existing condition". Lincoln was long planned as a producer to be plugged back to AM, the OGA appear to have vetoed this, with no explanation in the public domain.
Whirlwind has had $67m spent on it, has 2c resources of c.200mboe, and sits directly below the T piece on the WOSPS that we need to plug in to for our gas solution. It mb gas, condensate, or light oil ; but in the gas case would be a no brainer to tie in also to WOSPS. This could have been a very valuable add on to the development, yet has been removed by the OGA for no good reason.

3. "nothing wrong with delineating the extent of existing discoveries2. No. Except that HUR don't think non productive appraisers are necessary, and wanted to go straight to producers. So we are being force to drill expensive holes which will produce no revenue, against our better judgement. And who the hell at the OGA has better judgement than HUR in DB? No one, I'll wager.

I don't agree.

The market has sold us down to these lvels bcos ;
1. Spirit's situation has let them unable, or unwilling, to commit to progress on Lincoln/Warwick.
2. The OGA, inexplicably, has ordered a (possibly reversible) P&A on the Lincoln well, and required us to relinquish Whirlwind (for no good reason I can see).
3.The OGA, again, has insisted on appraisal, rather than production, wells being drilled on Lancaster (tho it seems one will likely now be a producer).

that means a book entry (non cash) w/off in 2019 of c. $60m (?) re Whirlwind ; and a capex program of appraisers in 2020.

However, all the above still leaves HUR, imho, with a desrrved MCap well above current levels.

The big driver down from 30p level, again imho, has been the constant doubting of the water cut data and HUR's interpretation, largely by posters om TLF with a level of technical expertise beyond most PIs. This has led many to worry that Lancaster will fail to met expectations either of production or reserves.

HUR have, again imho, done what they can to quell these doubts, and their statements (and in context, lack of them) are saying there is no problem, the reservoir is performing as expected.

But all the other issues, even PoO, can be placed on one side for now. If, as I believe, HUR know what the reservoir is doing far better than the doubters on TLF, this is a screaming BUY. If you believe the posters on TLF, you shouldn't be here. Simples.