Member Info for malrees

bartlebobton..
It appears you know little about human coronaviruses.
They have been around, 229E among others, since at least the middle of the last century.
Please don't attempt to provide false data to prove your point as there will always be someone on here who knows more about any one subject than you do.

Any comments on why BP would have taken that offload rather than wait for the normal parcel size of around 450k? The only thing making sense to me is that there was a problem during the offload and it was halted for technical reasons, as the sea was calm. Any other explanation suggests that BP spent rather more on that load than they need have done!

wellwell....over a year ago I chose to ignore whisper from outside the company that AS was going as slowly as he could with preparations for a Main board listing as he was opposed to it. That could be another one of several "nails in his coffin".

Fred_Bloggs, So on TMF they show poorly explained graphs from 1976 to 1988. The fields aren't comparable. We know a great deal now against 30-40 years ago concerning FB. Bach-Ho alone has taught how to produce over 1m barrels of oil after water breakthrough occurred early on. We now know that Bach Ho was poorly managed in those early days and DrT's team know a great deal about water management after breakthrough. I think we can ignore any data from FB fields from over 32 years ago.

Bob_L
I'm glad you said that Proactive article 'may be worth a read', as anyone who understands how to value E&P will know very well that Proactive have no analytical skills in the area.
I've been investing in oil explo for 50 years and have made a decent profit doing so since I retired in 1993.
I only use data from the companies directly, supplemented where possible by input from limited access papers and presentations. I hope the upcoming CMD will be available to us all, as was the previous.
I have been invested in HUR since 2014 and am currently showing a loss, but happy to assume that we have not been misled and I will be remaining invested, having bought some at around 12p and recently more at sub 17p.
I am far more interested in the Explo side than Production, so am awaiting details of future drilling schedules and their funding before forming any further views.

The lower price this morning has allowed me a large enough top-up at around 15.7 to lower my average to well below the price at my original investment in 2014. I didn't think we would get here, but I'm an explo investor rather than production, so will reduce when the price rises. I have previously only added on more explo news, so see today's purchase as short term. I am not a trader and in over 50 years in oil explo I never have been.

Have added 6 figs shares at under 17p. The lowest price I have paid since the panic dip on funding, when I paid rather less.

In the 2019 Q2 Corporate Presentation, it was stated that both wells had been tested with and without the ESPs. I am fairly certain that at that stage the ESPs had not completed testing and it seems have not been used in production to date. Assuming there are no problems with the ESPs, we would imo be better off with the option to use them in order to gain additional controls. The only reason fi#or my question was to ascertain whether the pumps have completed testing and been handed over for production use as and when .

I can't see any confirmation that pumps are now operational. Assuming they are, that would give us better control, particularly of choke sizes. It would seem to me that 20,000 bpd with ESPs operational would be an extremely significant move forward. Does anyone have more information?

I don't discount another FPSO funded by the oil it produces. There is a deal to be done if other options haven't come to fruition.

Indy0105

You wrote
"What also doesn't sit well with me is the fact the 6 well was dry and now has "minimal water cut". So there is some water being produced by the 6 well."

Can you help me to find that statement please?

A very simplistic answer to that might be :
"When the cash stops coming in at a rate of almost 1p a share every 4 weeks!"

Just added a chunk at 21.84, bringing my average back under 30p.
I too believe nothing has changed.

Worth reflecting on the price the Chairman paid for his own holding:

Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, was informed on 26 November 2018 that on the same date Steven McTiernan, Chairman of the Company, acquired 375,000 ordinary shares of 0.1p each in the Company at a price of 40.61393 pence per share.

How do you get to £200m cash?

Cash balances as at 31 December 2019 were approximately $58m, which includes $100m drawn from the RBL

johnpwh..
The $181m paid by Spirit for 'phase 1' covered the 3 GWA wells and was effectively the minimum price for Spirit to buy into the 50% of the field. There can be no 'reclaim' of any of that initial spend. Decisions after that are down to JV agreement and obviously that is somewhat confused by both the drill results and the potential takeover of Spirit.
HUR have learned a lot at no cost beyond personnel time, as we would only have had funds to drill one Warwick well without Spirit.
hth

Looks as if EV's posts today have disappeared?

Jhaylock....your 'feelings' make no sense to me. The cost of Spirit pulling out would greatly increase the HUR cash position. The obvious route then would be proceed with more drillings on Lancaster, whilst continuing with the other preparations towards 40,000 bpd. If you read and understand the 29th Nov document to which I linked earlier, you will find where the gold is. Meanwhile I have continued buying today.

There is a great deal of nonsense being written on this board, mainly by people who have no worthwhile knowledge of Lancaster. I assume they have some ulterior motive.
However, I suspect that one of the main issues is that even if they wish to understand more, they are incapable of doing so. I am not a geologist, but having spent two hours assimilating what is in RT's latest Lyell paper, which was posted on 29th November, I am totally relaxed about my investment here.
For those with the knowledge and/or inclination to understand more the link is:

HTTP://jgs.lyellcollection.org/content/jgs/early/2019/11/29/jgs2019-142.full.pdf

Diver69. I was a Dana shareholder at the time. The t/o price was about £1.8b and with HUR we are already about half of that. Much better to look at Market Cap in each case imo.