Member Info for JoeSoap

I said on Saturday that "There are many references to providing shareholder value in the Annual Report." (A very melancholic document imo.)

Well it appears eight times actually.
There are also eight occurences of 'value for shareholder'.
"Value" appears 227 times....

wrt the AGM it is worded slightly different, as in:
Recommendations
The Directors consider that the passing of all of the resolutions will enable us to promote the success of the Company for the benefit of all its Shareholders. The Directors will be voting their shareholdings in favour of the resolutions and unanimously recommend that you do so as well, using your proxy vote.

although I don't see how Resolution 7 'provides Shareholder value'.
Does it allow a 'placement' for upto 5% of the shares in issue or have I not understood the nuances of this R.7?

jimo
joe

aduk. You've still got your 2019 wells cross-threaded.
It was the WW. 2Dec RNS
" A stable rate using an ESP could not be reliably measured as the well was still in the process of cleaning up. "
HTH

If you refer to the 6 March RNS (and oil was still >$50 when it was written) they seem to rule that out at the moment.

"While Hurricane has no current plans to proceed with the WOSPS installation, ..."

There are many references to providing shareholder value in the Annual Report. They have many suggestions.
Specifically:
AR pg9
Whilst the Company’s share price remains below the Convertible
Bond strike price of $0.52/share, Hurricane needs to prepare for
its potential repayment in 2022. This is factored into the long-term
viability assessment on pages 24 and 25. Although a potential draw
on the cash in the Company, repayment would avoid the dilution of
conversion and therefore has a similar impact to a buyback of shares
without the same limitations of distributable reserves. Repurchases of
the bond ahead of maturity could also be considered given the
additional benefit of reducing future coupon requirements.

and pg11:
During the year in review, the Board held
meetings with certain major shareholders
on a one-to-one basis, in ad-hoc small
groups and with broader groups at
Company events such as the Company’s
Annual General Meeting and Capital
Markets Day.

And we know RB has both met with them and suggested sharebuy-back.

Look out for the AGM motions, imo. Due to be sent out on the 27th with hardcopy AR.
Same day as CMD.
Same day as offload. Will the price be below company breakeven, I suspect so, but above lifting costs hopefully and not all can say currently that!

Busy time....

"How the devil is one supposed to drink a glass of beer in a cafe while wearing a facemask?"

I guess the Germans are one step ahead of you aduk:

The Oktoberfest 2020 will not take place due to the Corona pandemic.

Negative hop prices next??

johnpwh apropos your 00:27 (and aduk's reply)
https://pbs.twimg.com/media/EWE6gc1UEAEY86G?format=jpg&name=900x900

Oil prices double in under 4 minutes.

Oil prices halved within a minute.
http://www.livecharts.co.uk/MarketCharts/crude.php

https://www.foxbusiness.com/markets/oil-price-crashes-record-low

Sorry, make that the $8s.

Rich, has your mate finished his chart mod.??

Yes, I can see that it was wrong.
It's now into the $9...

BlooBird try search of the quote and you'll get The Hill, reporting on the Bloomberg tory from the 15th - when WTI oil was still on $20.

I'm sure there was a post early suggesting $10 oil today, but I can't see it now.
Was I hallucinating?

@johnygaddar
http://www.livecharts.co.uk/MarketCharts/brent.php
v.
http://www.livecharts.co.uk/MarketCharts/crude.php
HTH
@DiveCentre
Is someone trying to force closure of shale; they are so far under water?
HUR can still breathe through their nostrils ....

Requires comprehension.

With the Decmber quote provided, the Brent-WTI spread was $4.72.
Today, post agreement to cut we have prices around $27/27.5 and $18/18.5.
Why is the spread twice what it was and Brent worth 50% more than WTI?

Any views?
Will it hold or is Brent heading down or WTI up??

aduk:"7z is a weird beast. ... I don't know. "

Answer was given in the 'Finding Petroleum' presentation Jan 2018.
Around 23 minutes in, referring to slide 32.
About 70m drop.
HTH
joe

P&A no longer shown in the latest Kingfisher.
https://seafish.org/media/1587043261-Issue_08_Oil_Gas.pdf

DC.
It was quite clearly a deliverable in their goal to utilize the full capacity of the AM.
But, equally, you are right to remember the Disclaimer at the start that it is all forward looking and as such may not happen.

DC.
Thank you.
Indeed you make my point for me, whilst failing to explain why that is not achievable.
But that is also true for most of the total content of the July CMD, but hey-ho a new one is promised today.
joe.
PS ADUK, check out pages 54&55 of the July CMD, there is even a picture to explain it...

aduk: We have no information whatsoever regarding current individual well flowrates and settings.
In the RNS it says:
"In March, the combined production rate was increased to approximately 20,000 bopd comprising 12,000 bopd from the 205/21a-6 well and 8,000 bopd from the 205/21a-7Z well, before downtime. This recent oil production rate has been associated with approximately 6,000 barrels of water per day, predominantly from the 205/21a-7Z well."
I believe that they have disclosed sufficient parameters to enable such a calculation, irrespective of 'settings'.
I note that dspp made such a calculation, but as he did not include any water from #6 he has the worst case for #7z, which if true is a large percentage increase from the November data of c17%. A trend, if you will.
But of note in the RNS was the word 'materially', as in-
“Whilst water production rates have materially increased since start-up of the Lancaster EPS, Hurricane’s interpretation of water behaviour data has continued to support the Company’s perched water model. Although it is not possible to predict future changes in water cut at present, the combination of high productivity wells, potential for currently unused production support from ESPs, and water handling capacity of the Aoka Mizu FPSO give the Company sufficient confidence to maintain its forward guidance at 18,000 bopd, net of 10% assumed downtime.”
So not the CMD 20,000 flatline forecasted, which would have been a useful bonus at this time to reduce the Opex.
DYOC.
jimo
joe

Yes Longwait it's not hard to suggest that the headline may not reflect the full reason for the fall today, but out of curiosity have you tried doing any water production calculations to try and understand the trends here and what they may mean?