Member Info for MaverickD

Looking at that key point in the day want to see it bounce up from here 5.65

Well looking at the TA Swazer put together yesterday would have seen our bottom......I have been bullish at these levels as most know and have been buying - personally I see an AMGO type blow out......everyone has an onion I am sharing mine. Would anyone not think 10p+ before the weekend is not possible? Was listening to Malcy on his blog and even he was saying at 6p this was a bargain and holders should not be selling.

.....and a 600k - now some of the ATs being taken out to fill more orders

Can sniff the blue finish.....few 500k buys filled

Stop ramping!!!
Put me down for 38p lol

Wrong board - that was AMGO although expect the winners there to come over here......if they are looking at Swazers chart

Just filled the gap from the last drop off and although I never thought it would get to this level it is exactly what Swazers chart point to......algos will switch and go long.

Operations update next week

DBNO - Are you in here yet.......always a good sign. Been adding all week

Thanks @Swazers
All playing out......

A total of 1.8 MMbbls, or c.10,000 bopd, has been hedged through the purchase of put options with an average strike price of $35/bbl. The average strike price of $35/bbl represents a floor for the hedged volumes of 1.8 MMbbls, with the Company retaining any upside in oil prices above this level. The cost of acquiring the put options was $3.4 million.

@Slift - ummm think you should do a bit of research on what they have in place. Hedges yes totally get them as many would have seen me quote the positions relating to TLW

@Slift - they have options set on 10k, so its not like zero production. The 2nd well is being eased back in with the use of ESPs and production will be optimised.

Debt not an issue here - it genuinely isn't. Crikey I wonder what some would say about my PMO and TLW holdings - please don't start on those boards.

With any debt (ours due in July 2022 I should point out) is for $230m https://www.hurricaneenergy.com/investors/convertible-bond

Production at 15k now with an additional well at Lancaster slated for 2021 and oil now is $43.

Anyone thinking oil will remain at circa $40 for the next 2 years shouldn't be investing in any oil stocks lol.

Hopefully some get the point I am making.

bounce coming......it's on the charts too for those who follow

Filled a few orders again and a 330k buy through.

......lets see now as the spread goes higher

API
Crude -8.322M
Cushing +0.548M
Gasoline -3.611M
Distillate +3.030M

Looking forward to EIA tomorrow......should see Brent climb towards $45.....should see the sector left somewhat. Should of added to TLW at 29 today!

Anyway debt is not a negative, as some here will con you to believe. The bonds fall due in July 2022 and like with anything they can be rolled over. Key short term is maximise production at Lancaster, which Beverley is trying to do. We have the Electrical Submersible Pumps operating now, which were not operational previously. This will address the water cut concerns and keep both wells operational.

Remember just over a week ago we were at 12k barrels with an 8% water cut from a single well and now we are producing 15k barrels and both wells are being monitored with the ESPs operational. The team will be looking at optimum figures with both wells in play and expect a further operational update in a week.

Cash in bank, revenue coming and 10k options secured at $35 strike price - so protects any downside risks.

Crack on with the Perrier comments I guess lol.

I added more yesterday, but have more powder to play with. It makes me even more excited reading all the negative posts, where people want to push this lower. Good return to be made from these levels, just wait for the sp to swing higher and all the negitive posts will quickly disappear. Someone will then say we are bottling the water from well 7 and selling it alongside Perrier for a tidy profit.

Brent sitting pretty above $43 dollars, so only slightly more than Perrier lol.

GLA.

Do I see this being dragged up a little.......my holdings in TLW and PMO looking better

Yep the debt is 2 years away guys. Cash in bank equates to a MKT Cap valuation of 8p. That gives a zero value to Lancaster, Warwick and Lincoln. Production 15k at present.