Don't lose these positives16 Nov 2021 08:46
1 The Company is pleased to report that due to better than expected uptime on the FPSO, the production for October 2021 was above the Company's previous expectations for the month........ ABOVE EXPECTATIONS
2. Previously the Company announced that it anticipated the well gauge pressure would reach the bubble point by the end of Q1 2022. While uncertainty remains, analysis of the most recent trends indicates that this point is now anticipated between late December 2021 and mid February 2022...... EXETENDED THE TIME FRAME
3. As of 14 November 2021, Lancaster was producing c.10,150 bopd from the P6 well alone (with an associated water cut of c.37%).....THIS DOES NOT MEAN P WILL NOT START UP
4 .As previously announced, the 25th cargo of Lancaster oil, totalling approximately 530 Mbbls, was lifted on 9 October 2021. The next cargo is expected to be lifted in late-November to early-December 2021......ANOTHER UPLIFT BEFORE XMAS
5. As of 31 October 2021, the Company had net free cash(4) of $99 million (including the revenue from the lifting during October 2021), compared to the last reported figure of $73 million as of 30 September 2021....... $26m EXTRA
6. Hurricane remains in positive negotiations with Bluewater over an extension to the Aoka Mizu charter beyond June 2022. An extension of the contract may require Hurricane to ring-fence material additional funds as security.... BLUEWATER GETTING NEARER
7. Hurricane has a 100% interest in and operates the Lancaster field, the UK's first field to produce from a fractured basement reservoir.
8. Hurricane also has a 50% interest in the Greater Warwick Area licence, which contains the Lincoln and Warwick assets.
9. Brent Oil 83.277
10. Brent Oil likely to rise according to strategists
......
GLA
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