Before you rush in thinking about news regarding Warwick West, I have no news.
I can however confirm that HUR hit it big a couple of years back at Lancaster and are flowing a marvellous amount of oil as we speak, They also hit it big again about a month ago with a wonderful flow test of Lincoln.
HUR have hit it big, success at WW would just be a cherry on an already very tasty pudding. Cherry (WW) or not, HUR is going to be a great investment.
>> This is assuming the PBLJ is assigned to GWA and not a sneaky drilling campaign on GLA I'm guessing a bit of both myself, the board stated the desire to stick another couple of producers on Lancaster as part of their 100MB reserves project.
My guess is with potential new Lancaster producers and the GWA... we're going to need that bigger boat. (FPSO)
>> Isn't the problem with having CA in us (sorry) that it has to sell down any of it's holdings >> if they excedd a certain (25%?) of it's nav? CA have stated previously that they have no such company rule.
>> Perhaps I shall Genghis. By all means, please go back to whatever you were doing before I came here >> wrongly thinking that a discussion board about HUR was the place to have some back and forth about the company. Yeah, but it gets to the point where it's technical enough to email the company. After all, your deducing things based on a few graphs and a subset of copy. You're using that to question the company with access to live data and multi million pound modelling software.
>> I suppose your response to everyone here is ‘just email the company ffs? Why not? I did and got a response. Takes a few days but they're pretty forthcoming.
...and to add to Biffadog's post, also from the interims.
--- We have gone to great lengths to explain why we do not expect to see coned aquifer water during the lifetime of the EPS, under our base case. This is our continuing expectation. The perched, or stranded, water we have experienced is consistent with our reservoir model and since our capital markets day presentation this interpretation has been reinforced by the Company's technical work. Notwithstanding the increase in aggregate perched water production to a sustained rate of approximately 7.5%, water cut remains within expected ranges and is not impacting oil production levels or the cost of production.
Now that both flowlines are in operation again, we can see that production from the -6 well continues to be of dry oil. Given the proximity of the wells and strong interference between them, this is supportive of a stranded pocket of water being intersected by the -7Z well. Hurricane's analysis suggests that current production is only coming from a relatively short section of the borehole in the vicinity of the heel in each well. Over time, fractures further along each well bore are expected to contribute to production, reducing the impact of any individual water-bearing fracture. ---
>> Warwick West is another ‘risk’ although personally I see it less so than Lincoln Crestal. To me Lincoln was very much an appraisal as we'd been there already but to my memory we've not drilled Warwick other than WD. Curious as to why would you see it as less risk than LC?
Looks like Halifax drill in the hoped for GLA 2020 campaign will be in a new location if it goes ahead, the previous location is too far away from AM for a tie-back. I don't yet know if there is a suitable Halifax location within tie-back distance.
...so what will HUR do then with no "structures" or takeover? Continue to run the business I suppose. We don't always get what we want and the BOD don't always get what they want. We'll be cash generative so in the absence of a buyer perhaps we turn into a producer on this asset once proven then move onto the next exploration. Even if you wish to sell you have to run it like you'd own it forever so I think the plans are so far correct.