Member Info for JoeSoap

wessexmario, in the May Hurricane roadshow presentation (as per Jacdaniels) the timing plan showed the 'tightened' window on pg 12. The six month window you mentioned is now just three months. Then on page 16 the text is: Aoka Mizu sail-away - Target for sail-away from Dubai remains end Q3 with arrival in Rotterdam ~6 weeks later. If Hurricane remains 'on time' to plan it would surely make September an impossible expectation. Of course, if they are ahead of plan then it could be possible, but that would then make the clarification by 'tightening the window' a misleading statement.

Unfortunately Dive Centre they decided to sell out in April [or at least reduce to outside their top ten holdings] and would have made about �6M on a c�9.3M investment in 11months. So no tears, but look what you could`ve won! https://www.investegate.co.uk/crystal-amber-fund-limited--crs-/prn/monthly-net-asset-value/20180514122954PA86D/ cf https://www.investegate.co.uk/crystal-amber-fund-limited--crs-/prn/monthly-net-asset-value/20180410070000P30FD/ I expect there will be several in the same boat here, when the time comes...

MO Yes, on page 6 Planned migration to full production > MJF July 2018 > Airshagyl deep c Q1 2019 > Yelemes deep Q3 2019 but not all info in this presentation is consistent, viz Yelemes Conversion to full production status Jan 2020. (pg24) But to be fair, it will be academic by then as we will have already been to Poland to paaartee. pmsl

"If the money gets the deeps flowing, happy days!" IF, and if the money was for the deeps, but it isn`t is it?

I noted the December $1.196M interest free one year loan from a company controlled by KO and also this re `going concern` "We [BDO LLP] obtained a written undertaking to provide financial support by the group�s largest shareholder." so I am not thinking that KS is the backer. Therefore, I think we can expect KO to cover the $2.1M needed in June, whether this will also be interest free or on a Vertom-like 12% will become clearer later...

It seems that the shallows are not all that they had predicted either. Currently 2/6 not producing, and "It is not yet clear whether well 146 will be capable of production." Further, "In aggregate the production expected from the six wells drilled on the MJF structure to date is, on a risked basis, in the region of 2,300 bopd." That is not the 4000 used in the presentation that would fund activities. Is the shallows "Revised reserve expected Q2 2018" required before the Licence update? :-)) @ Nighthawk

Rather ironic when viewed with his repeated misspelling of warrants! jimo ;-)

I did not mention the accounts and neither did YJ IR, so I fail to see why that should answer my question. Is it your position that a rush job doesn`t need to be factually correct? Deep Well 801 RNS 9May18 As previously announced our plan to bring Deep Well 801 into production was by drilling a side track of between 450 - 500 meters from a starting depth of 4,501 meters. After weather delays and initial difficulties in drilling through the metal pipes and casing the recent progress of the side track has been encouraging. To date we have drilled 132 meters of the total but expect to increase significantly the pace of drilling such that we would reach total depth in Q2 2018, following which this well would also be ready for a 90-day flow test. As with well A5 the pressure in Well 801 remain high. whereas the previous RNS 19Mar18 After extensive preparatory work we are pleased to report that the planned side-track at Deep Well 801 from a depth of 4,516 meters is underway. The existing pipe is being milled to create a hole in the casing to allow the side-track drilling to commence. The total length of side-track is planned at 445 meters. Provided the side-track operation is successful, the well would be placed on a 90-day flow test. Pressure levels in the well remain encouraging suggesting good pressure communication between the wellbore and the open formation at depth. and from 14Dec17 As previously announced Deep Well 801 has 90 meters of stuck pipe at a depth of some 4,752 - 4,842 meters. Work to allow a 200 meter side-track to be drilled from a depth of approximately 4,700 meters is now almost complete and the side-track drilling is expected to commence in the next 10 days, with an expected drilling phase of 30 days. This is the same operation that allowed Deep Well A5 to flow but at 801 the operation is expected to be easier and quicker as the distances to drill are shorter. It would appear that there has been considerable mission creep between RNSs. [translates to cost.] But YJ IR think only 25 meters has been drilled so far. .oOo. As to the accounts, I do not need last year`s to tell me that this year they have a significant shortfall in income anticipated in the presentation and there is more rework than anticipated. And I have noted Slide31!

Perhaps YJ IR could explain why this is not in accord with the RNS published 07:00 Wednesday?

I think I recall you liking the Presentation showing all the regularly spaced planned new wells. How's that going? Are they getting short of cash now? When they say "more expensive", I always think it is necessary to reassess the original economics premise. jimo

aduk Lancaster RPS CPR pg 42 Hurricane has suggested that the EPS Phase is designed to last for up to a total of six years, comprised of up to three years data gathering and analysis, and a further three years to implement the incremental development design (Table 7.12). This may include additional drilling, laying of flowlines, modifications to the topsides of the facility or even replacing the FPSO entirely. Did IJWT not suggest a cheaper FPSO could be found? imo, the FPSO contract has a lot of flexibility built in with the 3yr options. In the absence of a JV/FI an IFDP could benefit from a larger FPSO at Lancaster and that would allow AM to go elsewhere. The buoy capacity is greater than the ship even with gas export sorted? I'm also interested in the HUR comments re Lundin. They tweeted info and they included it in the May presentation when it was actually 'off the map'. How analogous are their fields/oil and how far is this Rolvsnes well from Edvard Grieg?

According to the announcing RNS, "The purchase of 3ABest is subject to further due diligence, the entering into of a definitive binding agreement, compliance with the AIM Rules for related party transactions, the UK Takeover Code and the approval of the Company's Independent directors and shareholders." imo it would make sense for all if it was one of the proposals at the AGM, as it will be the ordinary shareholders that vote it through, or not, rather than the concert party and BOD. The onus is on the Exec Chairman and CFO to present a compelling case for his masters. The last Presentation identified 3 acquisition targets. Do you think this is the third? Do you think it possible that the concert party owns the other two?

aduk Aoka Mizu sail-away - Target for sail-away from Dubai remains end Q3 with arrival in Rotterdam ~6 weeks later Therefore to arrive on site by the end of September it would have to leave before the mid-point of Q3, and that does not allow for work in Rotterdam or transit to the field, but jimo.

Got to love a CA holding RNS for generating some traffic... As far as I am aware, there was no obligation on RB to take up the warrants. I firmly believe it was his decision to try to shore up the SP (and in consequence, that of his fund due to the high proportion of the fund that HUR represented) by his very public show of magnanimity. HUR put the warrants with their new broker. Whether that was to test Stifel`s ability to shift them at the current SP or to let the SP bleed away to the level conducive to a $500M raise is academic now, though still apparently interesting to Pis. Although the fact that Stifel Europe, has raised 1.3 billion pounds in the first quarter for clients, more than any other investment bank in the London markets, may be an indicator. https://www.investegate.co.uk/stifel-financial-corp-/gnw/stifel-vaults-to-top-position-in-u-k--capital-r---/20180501110013H9142/. The Chairman may have apologised at the AGM but I would be interested to know when he told HUR about his new appointment, because they did not not issue the customary RNS, rather he left immediately and then cited Corporate Governance issues. For those interested in Dr A, you may be interested to know he has moved on from the Senior NED role and stepped up to the role of Non-Executive Chairman yesterday. It was coincident with a substantial fund raise with this opinion expressed by DL, (~not for those easily offended!) https://guerillainvesting.co.uk/2018/04/30/andalas-energy-investors-face-wipe-via-consolidation-another-placing/ [guerilla investing . co . uk] I think many expected an early farm-in. Even the presentations foresaw a FI! But things changed rapidly when the OOR licence was obtained and drilled. imo HUR now had a greater expectation for the expected OIIP, but deal or nodeal? They are going it alone, currently anyway. How long for? Again imo, longer than many on here think. I believe CA will sell more into demand in the future as the SP rises. Question may be why did it rise? New chairman, TA, ley lines or corporate activity? Your choice. May 1st, Steven McTiernan's first day: there's a lot to get your head around and then to look at monetising... jimo joe

Lmfao. That was Friday... Gotta wonder why Bernie has now left the scene, but his mates haven't noticed that, and not before dusting the site! lol. Was it for incorrectly predicting the oil draws? He is still with "Andy" on iii, so just what was his role here in his fourth incarnation and who to believe? Makes you wonder, eh?? PS. Where's cookie today?

ijwt. The new chairman is non-executive, the previous one was also non-executive and in the interim we had a Senior Independent Director sitting-in, a not unusual situation. I am not sure what point you are trying to make now: are you alleging bribery or inferring MS's alleged wrong doings have been repeated by our CEO? I understand that you do not like the VCP. Perhaps greater clarification will come from HUR in their promised expanded Governance section of the imminent AR. Choice of Independent Directors and how they will be effective and how they are selected and how independence is determined are all facets of Premium Listing imo.

ijwt "Perhaps has come in on the promise of options if he tows the party line and follows the good Dr. " I think you may be forgetting the Jan LGC update. "To affirm their independence under the provisions of the Code, Dr David Jenkins and John van der Welle have relinquished, for nil consideration, the awards previously granted to them under Hurricane's non-executive director share option plan. The Company confirms that it does not plan to make share incentive awards to non-executive directors in the future. Dr Jenkins is currently acting as Interim Chairman and will therefore only be deemed independent upon appointment of the new Chairman." Hope they haven't reneged on it already... But I echo Birthdayboy's sentiments, and await the two new (totally !) independent directors.

extrader: "..why not get dspp involved as a professional consultant,.." CA is more than RB, although he does sell himself very well, and they have their own O&G consultant, David Craik. He was called on to give a presentation on Hurricane Energy at Crystal Amber Conference in June 2017. This is still available here: https://vimeo.com/223760753 David was at the Finding Petroleum Conference where Dr. T presented earlier this year. Richard, meanwhile may be wondering what to do next with his, sorry, their 29.9% holding in Leaf Clean Energy following the Court judgement that awarded them $1, not the $126.0million they were seeking. Leaf (down 27% at 19.00 pence on Friday) as 6th largest holding represented 9p of the valuation in the most recent, end March, disclosure. Read the full 96page judgement here: https://law.justia.com/cases/delaware/court-of-chancery/2018/ca-11830-vcl.html concerning the Series B Convertible notes...

"if you can get an off the shelf FPSO then an EPS solution takes some beating" http://fpso.com/fpso/ Thought this might help find a WOS ready FPSO. but seems whilst the date/time is current, the info leaves you cold. Apparently the AM is located at Ettrick Field, North Sea, and the WOS-proven Schiehallion [now the Bumi Armada Intrepid which has been scrapped] is still with BP. Ho hum...

aduk, 11:05 - 11:50 in the presentation recording DrT explains the 6km limitation. Have a listen, I think dspp might have...