Member Info for haggis_trap

now down to 15p.
this is utterly insane... I am certain share price no longer reflects fundamentals, nor even general sentiment.

therefore have to conclude the share price is being manipulated ?
the obvious question is to whose benefit ?
if this company get taken out in next 3 months then something stinks......

Agree - the tie back to Lincoln was dependent on Spirit Energy (who have their own problems / financial issues). From Hurricanes perspective focusing on Lancaster is actually a good idea. What the company needs now is sustainable revenue and EPS proving that fractured basement can deliver.

^ yup : basically the decision on Lincoln has likely been by made by Spirit energy (who have their own financial issues). without their support why would HUR throw money at Lincoln just now ?

I don't see a problem here : focusing on the low hanging fruit is sensible consolidation strategy right now.

^ yup : basically the decision on Lincoln has likely been by made by Spirit energy (who have their own financial issues). without their support why would HUR through money at Lincoln just now ?

I don't see a problem here : focusing on the low hanging fruit is sensible consolidation strategy right now.

At risk of stating obvious : HUR wouldn't be ramping production up to 20K bopd if they had any concerns about production / water-cut.

Fantastic RNS.
Well done HUR.

Stonking RNS. DELIGHTED
Well done all PIs for holding nerve against the shorters.

^ could be number of reasons. CA fund (as a whole) not doing very well at all.
if they need to free up cash quickly then dumping some HUR might be one of their easier options.
time will tell - however a big seller on low-volume would explain recent drop.

An RNS announcing Crystal Amber had sold off a chunk would explain this drop... The price drop has been savage - however if they are forced / distressed seller selling on low volume with no institutional buyer then it seems plausible.

This Energy Voice article is the latest information released by HUR.
Read it, put things in perspective, and step-back.
Despite the share price being hammered the fundamentals remain good.

The company is producing oil and debt free.

https://www.energyvoice.com/oilandgas/215554/exploration-headwinds-force-hurricane-to-alter-course/

Insane share price given lack of news.
Basically a PE ratio of 1-2. Bonkers.

^ DSPP implied that HUR were preferentially producing from the 6-well (dry) to try and hide something. However the 7-Z well is only 300m away. So assuming the 6-well remains dry (as appears to be the case) then running it on its own is surely the best way to test production water-cut?

HUR have always stated that both wells would be produced concurrently from the end of January.

One thing is for sure - *if* there was real-world reason for recent drop the internet would know about it... Recent share price movements are simply market creating trading opportunity based on uncertainty (from DSPP) and knowledge there wont be update until CMD in March. However as we get into February and closer to the CMD I personally expect share price to recover.

If someone did want to take HUR over then manipulating share price lower works in their favor. One day I certainly expect to wake up to RNS informing us of a take over. However PIs will be the last to know when that might happen.

Now is not the time to sell assuming you believe in longer term story : sit tight and ride it out.

I am certain if there was a credible real-world reason for this latest drop (beyond market manipulation) the internet would know. Basically the market is playing upon the lemon-fool uncertainty to create a short-term trading opportunity.

Sit tight - selling at these price crystallizes the loss. If there was valid reason for the drop (beyond market manipulation by big players) the internet would know. The value and reason to invest in HUR remains the same. Assuming all goes to plan then share price will surely rise before March and the CMD day ?

Last time share price dropped like this Crystal Amber had been doing some trading... The volatility is disconcerting : however best to sit tight. Good luck all LTH

True...
Either

1) There has been an issue and also a news-leak (which internet hasn't heard).
2) The AIM market (hedge funds / MM) taking advantage of the jitters. Crystal Amber playing games again...

Number two seems far more likely to me ?

The problem with "de-risking" now is that you do so at lowest share price in at least 12 months. 30p is just above my break-even point (been in since 2014 and bought at various prices from 10p->40p).

My problem at present is that success (or failure) appears more binary than ever - however for now I am holding to CMD as I expect clarification then.

essential reading !

^ that is a very valid point.
running the dry well exclusively is arguably the right thing to do for data acquisition (as opposed to a cover up)
if it stays dry then that is a huge positive.

HUR themselves state in last RNS they plan to run both wells concurrently from January onward

Interesting post. I was going to post on lemon-fool (but dont have account). Perhaps DSPP can reply here ?

If one well is dry and the other one wet then of course the water content will increase with production. Why ? Simply - because you need to draw more oil (and thus water) from the wet well to increase production. This may not be bad news : it is possible that the wet well has encountered a pocket of perched water which will deplete over time (however I am not a geologist).

Without full data it is simply impossible to second guess what is happening : however the fact the 2x wells apparently have excellent pressure communication, but one remains dry, is surely a positive ?

(ignore above : ctrl-V error!)