Member Info for Jhaylock

It makes sense to me, our biggest shareholder prefers private companies, the board of hurricane seems more worried about the shares going up than down. I am sure Dr T would be happier running a private company, no more RNS or share price to worry about. There could be a concert party collecting shares before making an offer. God, I hope so!

jhaylock

I was at Hurricane presentation a geologist from Kerogen Capital was the presenter, he said the big unknown in fractured basement is how much of the space is taken up by the granite and how much by the oil, this is estimated by core sample and similar rock collected from out crops, he has studied a lot of the data and he thinks estimates are on the conservative side. He said he is not worried about the water being drawn up from the aquifer, the PI index plus the distance from the aquifer mean that if each well produce 20,000 bpd the drawdown would 120 lbs psi, no way it would support a column of water from the aquifers to the pump. It could happen if you pump at a much higher rate, if then the well was shut in the column of water with no suction to support it would drop back to the aquifer and you start the pump at a lower rate the water would not reach the pump.
This presentation was 2017 since then the well have been producing better than expected and without a pump, but perch water has been released by the drill bit, so the porosity equals oil minus granite minus water this knocks back the amount of oil but its marginal.
jhaylock

I am very suspicious of the way the board has handled the shorting attack on Hurricane, if the wells are producing the guidance 20,000 barrels a day why don’t they announce it, when share price went up by 6 percent they issued a RNS at 10.51 to quell the rise. The board 100 percent know who is manipulating the share price, the nomads working for Hurricane will have that information, it also is a red flag to me that RB has been quiet of late.
Lets hope for an end to this manipulation soon.

jhaylock

I have been in hurricane many years and seen this drift down before, my feeling is that Spirit Energy are pulling out and Hurricane are going it alone with the Lincoln tie back, there is a placing so that the time table can be met by Hurricane. Just a theory on my part, but if true will only be a small bump in the road for long term investors. GLA

jhaylock

I lost a lot of money on AIM, now I am making money by getting out too soon, it not a mistake to take some out even if it goes up afterwards, waiting for the top can lose you money because you never know were the top is and its always that little bit more.

jhaylock

I am between fear and greed at the moment, I have two big calls ECO Joe 1 ,Hurricane Lincoln Crestal, If both of these come in I will be back in the blue after years of trying to make thing right for passed mistakes.
GLA.

jhaylock

I cannot see the logic in Total farming out part of their Guyana licenses, Tullow large debt and 60 percent of the license, Eco not big enough, full field development will be a massive commitment, but I would have thought Total would have wanted a bigger slice of the cake. There must be a lot going on in the background, could be a big surprise, my guess large Tullow farm out and Eco bought out.

That would be a big surprise a AIM CEO that kept his promises.

jhaylock

From Fleetmon website
Petroatlantic
Capacities
Liquid @ 98% 103,887; Segregated Ballast 37,397; Slops 2,281
Aoka Mizu
Storage capacities
Exportable crude 98,000 m3 (618,000 bbls)
Slop tanks 7,758 m3(48,796 bbls)
The offload will be a little over 500,000 bbls from poster hoofhearted2.

jhaylock

IJWT:
Our two biggest investment are the same and I can see why you might be inclined to transfer more into your other investment at this pivotal time, but your reasons I do not accept, the contents of Hurricanes CMD were fantastic, the way they were presented has no bearing on the value of the assets.
I suspect the reasons are your impatience in Hurricane SP and your believe you can make big money on other companies imminent drill results, I think both company’s are good investments and I prefer to spread my bet. Good luck to all investors in both companies.

jhaylock

The EPS has not put one penny on the share price, the share price was walk down from 67p, the warrant issue plus the raise half the value of SP. The news from EPS should have doubled the share price, this is the pivotable moment in the UK fractured basement concept and the combination of ten years work, instead we are at the same price has last year.

jhaylock

The truth is Hurricane energy has not been a good investment over the last five years the share price has gone up by 7.8 percent, more money has been raised by the company than the market value. I am not blaming the company but the successes Lancaster, Halifax, Lincoln have not added to the value. I have had success in Cap-xx, I3E, ECO and Hurricane not due to long term investing but trading, also lot of bad knocks. My conclusion is the risk outweighs the rewards. If I had put all my money into Fundsmith unit trust, I would have been better off. The way the Market punished Hurricane over the Warwick failure was ridiculous, if it was the other way around it would probable gone up by 6 percent and then fallen back. I expect the SP to recover over the next months due to the release of Lancaster flow figures and a successful drill at Lincoln, when I can get a reasonable share price I will sell the lot. I still believe the value will be realized when there is a takeover, but the manipulation of the price is not worth the wait for me.

jhaylock

This used to be my biggest holding because I thought it was low risk, over 6 figures at one time, when PW resigned and the Morocco sales shortfall, I sold my entire holding at 28p, PW lies had cost me 18K. I bought a small amount at 22p after the oil discovery, but the shares are still dropping. I think the trouble is that the market does not believe the figures, I must admit I am not sure myself. The SDX Directors all went along with PW lies and are tainted by it, the only thing that is going to turn this around is a gradual replacement of the directors, hopefully we get a new CEO soon.

jhaylock

jag11:
I can see you are an investor in Sound Energy and believe the hype from JP, the truth is that the market for gas in Morocco is small because there is no gas grid, the only customers are those at the end of SDX’s pipeline. The Peugeot factor plus suppliers and a few ceramic factories, the amount of gas sales have been less than projected by Paul Welch our own in house bullsh@@er .
The joke is that Sound’s Market cap is twice that of SDX energy and Sound is struggling to keep the lights on.

jhaylock

Can't believe I bought in at 22p after the good news, been in this share for years before I sold out when news on Morocco gas sale were disappointing, could not understand spending money on wells when they could not sell the existing gas. I believe the Morocco drilling campaign should be held on hold, the drilling campaign should go ahead in South Desouq to fill the gas pipeline and the South Desouq deep need to be drilled meet the license obligations.
Instead of looking for other assets to buy, the best bargain is SDX shares, and surplus cash should be used in a share buyback scheme.

jhaylock

Post LSE hoofhearted2 Thursday 13 11.19 pm

Take not of the post date before Amunsen Spirit set off to offload Aoka Mizu.

- OK to put it very simply - in my opinion it is decision time. Take your seats at the table, or throw in your hand, cash in your remaining chips and walk away. After many years of being invested here, the fun is finally about to begin.

- Both wells are reported to have produced better than we could have ever imagined, IMO 7Z will have every major OC taking note. This could blow the doors off when initial flow rates are released by RNS on the 11th.

- I understand that a DST will be attempted on 26b-c, but not this week (22/6 onwards) "all issues have now been resolved and we are back on track", looking good.

- The FPSO tanks are filling up nicely, very nicely and will need to be emptied soon to make way for more production, or wells choked back. Watch this space!!!!! – WE ARE TALKING IN DAYS, rather than weeks or months before an offload is required. The age-old adage about not wanting to be away over the W.E could not be more pertinent, particularly the pesky tanker-watchers.

- The usual caveats about Doing YOR apply. IMO those that keep a cool head, a warm heart and a empty stomach will be very well rewarded.

The post is spot on.

jhaylock

The trouble is a lot of talk on this board is about share trading that OK up to a point but you should have a basic knowledge in what you are investing in, then you will understand the time-line of events.
The share is driven by the underling technology, the APP, a computer program, there has never been a APP written that is bug free, most of the APPs bugs are removed in-house before release, but bugs will always emerge during operation. That is why Big Dish is only launching gradually, when a bug is detected it will be handled by a small subroutine program written in-house and sent to all users over the Internet. There are many programs that we all use daily that get updated some have been for running for years, once the APP is working in a small number of location successfully, then I am sure the roll-out will be accelerated.

jhaylock

Most of my investments are in oil and gas, but have made a bit on tech companies, I saw JW Portfolio and checked out each company and this one appeals to me. I downloaded the app and was disappointed that it was a startup and there was no coverage of London, not in an investment point of view but as a customer for a cheap meal. I think it is a great idea for the customer and the restaurant owners to utilize their premises. So Yesterday I put it in my watch list to wait for a buy in opportunity, I could not believe it would come so soon and I bought in today with a small purchase, if it goes down by ten percent I will top up again.

jhaylock

It seems like Lancaster wells have been averaging over 20,000 barrels a day since the 1 June to offloading.
Not bad during a disruptive test period.

jhaylock

The offloading data has been remove from Bluewater website, it was there yesterday.
Aoka Mizu Offloading (max) 33,000 bbls/hr
but has been removed today.
You ship watchers are being watched.

jhaylock

hoofhearted2 post has got me thinking.
The Thursday post is so far 100 percent correct, it’s very early to need a shuttle tanker, only two explanations much higher production than expected or unloading before long bad weather window. The weather will be calm for the next week unlike the share price.
Hoofhearted was a race horse, the race commentator when saying the name quickly use to say
Whose Farted.

jhaylock