Member Info for Genghis15

I know broker notes need a good salting, but in this case there are things investors should take note of.

Warwick was never in the price , so on that account no drop justified.

At 45p or so, even the EPS alone is at a 20% discount.

There is no read across from Warwick to Lancaster.

And, altho the note doesn't say so, Warwick is not a duster. Wait till the data is in: the market may have got this wrong.

Add all the above together, and this is ridiculously cheap at 35p.

WW
"It’s the Achilles heal (sic) potentially"

I disagree. The water issue has been done to death by RT, right back to 2016 when I posted an email here from him, and again and again at various presentations. The EPS is producing perched water, with no signs of aquifer water. It's sorted, put to bec ; if the cut goes up or down a bit its of no consequence..
The only issue not clearly addressed, at least on Warwick, and mb on Lincoln too, is connectivity. WD cast doubt on that for Warwick ; WW has only partly dispelled those fears.

But on Lancaster, the EPS has pretty much proved connectivity, with PIs of over 200 and 6 months of continuous being, imho, pretty conclusive. production,

We will have to wait for further info on Warwick ; the RNS says a further update later this month on the EPS, at least.

Fwiw, I agree with much of ronok's separate post ; too much is being read into a low natural flowrate. of course its disappointing I wasn't 10,000bpd ; but Dr T did touch on cleanup issues at the RGS,. There are particular issues with FB which do not apply to a sandstone reservoir ; it is much harder to drill the well safely and then rapidly clean it up for a flowtest when your drilling mud has quite deliberately blocked the very fractures you need to flow.

I'm happy to give HUR the benefit here, roll on the CMD for some clarity on this.

Fred
You don't seem to be acquainted with co strategy.
HUR have flaring consent up to the AM current capacity of 30k bpd, but ONLY from the Lancaster wells.

The Q4 presentation shows the gas solution and the LC hookup for Q4 2020, allowing production to rise to max 40k bpd by then, net 35k to HUR.

He seems to be saying they are funded to the "back end of 2020", but no clarity on just what the current cash position would allow to be progressed in that time.

"There will be no upgrade in production until the gas export is installed which won’t be any time soon. Or the new well tie in again wont be any time soon"

Q 2020/Q1 2021, according to the HUR website. https://www.hurricaneenergy.com/application/files/1115/6355/5427/20190718_-_Hurricane_Corporate_Presentation_-_3Q_2019.pdf

1750

There are lots of possibilities as to where that leaked, tho, from NOMAD to PR co, etc, etc.

I am not here to defend the i3E BoD, just that one may not stand up.

Thx MT Sparky, I will research them a bit soon.

"I3E board are not to be trusted !!!"

Well, mb, mb not. Perhaps you could explain why not?

Of course, "trust" is relative, I know in the corporate world to always be wary, but you seem very emphatic!

i3E?

$61.71 close, according to live charts.

As long as it stays above or around $60, no worries at all.

That was my interpretation.

" the fpso mooringvsystem diesnt involve anchors"

So what, exactly, is the" 3x4 leg mooring system," referred to on Hur website?

I am surprised the SOC would quote Dr T saying that.
I know the SOC screened a lot out, as they could have sold out twice, and sympathise with anyone out of pocket as a result.
I took the precaution of joining the SOC, as advised in an earlier email, and believe that was what got me in.

I am travelling atm so cannot post extensively about the event. But I will say that I was in the company if 3 other PIs, 2 of whom were fairly critical of Dr T, esp his presenting communication, and personal relation skills.

After the talk they were completely won over.
Great performance from RT, but of course no news: this was about the Lancaster evolution and HUR backstory, in the main.

WW
Sorry I've pinched it already.

Be v surprised if it doesn't land next week, tho.

It's not complicated. There are almost no sizeable fields where the operator has 100%

nen
"Nothing to do with Spirit when the RNS lands. It’ll be issued when the result is know. You cannot hold news to suit HUR or Spirit."

There is as far as I know, no need to inform shareholders immediately ; it is a matter of judgement when news is sufficiently well interpreted to be released. The obligation is to release it in such a way as to prevent a disorderly market, where some participants learn news before others.
I am not suggesting news is "sat on", just that the duration of any testing will be determined by Spirit, not HUR, as they are paying the piper. So I doubt that the timing of the RGS precentation will be the main driver behind the timing.

We shall see!

On RNS timing, I can only agree with wellwell.

When Dr t booked the RGS for 28 Nov I have no doubt he expected the 3 well programme to be over by then. It would be very neat if the RNS landed Thursday, it would give the chance of a cleansing of info that would allow him to speak reasonably freely. However, as I keep reminding, Spirit are paying for this and will not necessarily march to the same drumbeat.

So, could be this week, could be next. Either way, I'm sure the RGS will be interesting!

McGill

It might just be... but its outright gamble, imho.

All sold out, with a waitlist.

A number of us will be there, tho.

Ls
Yes, but that doesn't rule out a resource upgrade if there is no barrier, and he does say that they had not yet, at that time, detected one.
So it seems we have an unknown, at least for another day or two...

What does that mean?