RE: Media5 Jul 2018 13:26
Fwiw see this comment on the DM piece by a poster
"Hurricane is around 6 months from First Oil in the 1st Half of 2019.
Some speculate sooner.
If and in my mind not too big an "if," Hurricane's potentially massive asset base gets proven up, the numbers might be astronomical.
They are in the final throes of putting the Early Production system in place, with currently a small flotilla of specialised boats installing mooring points, flowlines, a manifold for the pre-drilled wells that have already had the Christmas Trees installed.
The final part of the jigsaw is the Floating Production Storage Unit (FPSO) which has undergone refurbishment in Dubai DryDocks and is due to embark on the voyage back to UK waters imminently in preparation for duties West of Shetland.
The targeted field is Lancaster and it is "Fractured Basement" which is a type of reserve that has worked in many oilfields, worldwide for over 50 years. But never in UK waters, not that should be a detriment. Within 6 months to a year post First Oil from Lancaster, all interested parties will have the information they require either to take their own fractured basement blocks forward to exploration/appraisal and development or even bid for the Hurricane assets which might be as high as 5 Billion barrels.
Around $500M was raised to make this project a reality, it might have huge consequences for the UK economy given the numbers involved and the potential tax take. The eyes of BP, Shell, possibly Chevron and even a Chinese entity are locked onto the possibility of who might blink first and make a pre-emptive bid. This is high stakes Texas Holdem with the prize beyond the imagination of man.
Exciting times for Hurricane shareholders, the denouement imminent or even 18 months away, it's all in the hands of those who control the purse strings within the upper echelons of the Mega Oil Major"
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