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L3
Yes I got my $ per boe wrong on gas. You say $60. On reanalysis I think it will $70 on average. But let's take your figure, and we get @$900m in net debt reduction.

Interestingly the %age of gas is increasing, so presumably operating costs will be lower. Oil must cost more in operating expense per barrel.

Also cost synergies with Pmo merger have not yet materialised. This suggests future cost saving as the operations are consolidated.

This will be a very different business come 2022. Also the creditors overhang needs to be cleared before Harbour can truly ditch its Pmo baggage.

Jeff
But can you see anything wrong with numbers, assuming world does not end ?

From presentation, say low end 200kboepd production, 50% oil, 50% gas
50% of oil hedged @61.00, 66% of gas hedged @$26.63

Hedged oil daily cash = 50k @$61= $3.05m
Unhedged oil daily cash = 50k@$75 = $3.75m

Hedged gas daily cash = 66k @$26.63 = $1.76m
Unhedged daily cash = 34k@$180=$6.12m

Daily total cash = $14.68m
Operating expenses= $3.2m
Daily operating cash flow = $11.48m

Annual operating cashflow =$4,190.2m
Less capital spend $1,300m
Less Interest $260m
Less divis $200m

NET DEBT REDUCTION = $2,430.2 !!!

This looks too good. Have I done something wrong?

NOFEAR
I have no doubt you will double your money in 3 years .... enough to retire on comfortably !!

Yes HC, you are missing a brain and common sense

The is severely undervalued by any metric

Luckcount
HBR seem a solid business with huge potential upside. Currently seriously undervalued.

Another down day ... that's usual for Enq

NOFEAR
Agree.... nothing that bad in the update. Just MMs shaking out panicked holders

The dividend is ok, but more importantly, very affordable . I thought we would be in 440s today. Oh well, just a bad day in the office

Tomorrow is another day !!

Totally unjustified imo

Kraken
You can't look at just mkt cap, what about debt. You have to add the two together to get Enterprise Value.
On that basis Hbr has more than 4 * production but less than 4 * EV. Plus 4 * better opportunities to grow.

Debt free by 2025

So Hbr wins by a mile.

Tomorrow it will be very different !

Nothing really to justify this stonking fall !

Some idiots have no shame lol

That's puts it all in perspective LuckCounts

Great post!

Can't believe it is sub 400p

Generating $500-$600m FCF this year... much more next year with Tolmount online

Ok Tolmount delayed 1 are- therefore huge complex projects, so no big deal

Reserves downgrade? But I thought they just had a major hit with Tuna in Indonesia.... at least 100m added to reserves there !

It's in black and white !

Apart from Tolmount, which is delayed in Q1 2022. I think we shall return to sanity this afternoon

No fear
Mms messing with our heads to get cheap shares ? I bet this bounces back tomorrow

Just profit taking going on