Member Info for mariog

"BP, like rivals such as Shell, France’s Total and Norway’s Equinor, plans to invest billions in West of Shetland projects while scaling back in the mature areas of the North Sea."
“The West of Shetland is vital to the future of the UK oil and gas industry,” Wood Mackenzie analyst Kevin Swann told Reuters.
“If you want to be anywhere in the UK continental shelf, you want to be in the West of Shetland,” Hurricane Energy Chief Financial Officer Alistair Stobie told Reuters.
https://www.reuters.com/article/us-northsea-bp-idUSKCN1NS0CR

It all depends if you need cash now or not. Worth to try.

They can offer them 100%, some might go for it if need cash asap

04/05/22 10:02:13
Last price 99.20
Change to prev. day +1.23%

Still a chance to buy in all or some remaining bonds before July and save at least a few thousands on interest.

Use the money in the bank now.

Just to add to this story.
"Equinor posts record profit as gas prices soar in Europe"
Today's news from Equinor
https://uk.investing.com/news/commodities-news/equinor-posts-record-q1-profit-as-gas-price-soars-2639662

see the old news

https://www.thisismoney.co.uk/money/markets/article-5918723/MARKET-REPORT-Hurricane-Energy-thrust-limelight-BP-takeover-target.html https://www.thisismoney.co.uk/money/markets/article-5918723/MARKET-REPORT-Hurricane-Energy-thrust-limelight-BP-takeover-target.html
"The talks fell through, but interest remains in Scottish oil assets. Both BP and Equinor declined to comment on whether Hurricane was in their cross hairs. "

HMMMMMM

As far as I am aware there is a small link between HUR and BP, so maybe maybe there is a chance for BP making an offer for Hur
"he Company has negotiated with BP Oil International, the purchaser of its crude oil, a facility that will allow for cash to be advanced ahead of a lifting." 25 March 2022 RNS

There is also a question, how much is HUR worth without that producing well and licences. Would 10-16p from taxes be still a desored outcome in case of no oil coming from the P6?

It must be then a relatively new company with recent successful drilling

Someone posted about Harbour Energy. Apparently they have a lot of tax credits from Premier Oil, so the combination with them won't happen.

Any other company in your minds? Has to be one that made a lot of profits and doesn't have enough tax losses to offset against the profits made.

One person mentioned on Hur's BB that Harbour could be the one to takeover Hurricane. Question then here, would Harbour Energy need Hurricane Energy 's tax losses ($400m)to offset against own profits?

and promising!

Im sure the last trades of the day were traders cashing before the BH weekend.
3 days off now.

From next week we're gonna have only 3 weeks till next offload. Oil high again so thats 500k a day to Hur's bank account.
To be expected more than 60m after bonds repayment as it was calculated at $90 per barrel.
Will we see 70-80m Net in July at those prices? Possibly.

Time for a drink.

until now ;)

one thing promising before the weekend is oil price, nicely moving towards 110 again.

Last time when we saw WTI at 110 , price of HUR was around 11p

all day slowly creeping up

Key message between the lines is to keep accumulating when is cheap. And is usually cheap when oil goes under 100. Happy to keep till July when sp may be again around 12p. That's like 25% up from here.

We probably talked about it, but what is the NET difference in two months oil sold for $90 and sold for $100 ?
I can see oil prices moving higher which can help with generating more than those 60m net, especially when you take to the account that 60m is based on $90 per barrel

This is exactly what I think is to happen. TCA will push for a sale just after bonds repayments.

Have a feeling that the closer we are to the real breakeven (debt free on the paper), the less hurray and more long term investors are to arrive here replacing day traders.

Mirasol, I doubt there will be any new drilling before the sweet deal to utilise tax losses is done. Better to look around ways to add 400m to your books risk free and that's 16p extra game.