Member Info for mcadder

16:10 the SP started ticking up to 2.90p, to 2.95p by 16:20 and 3p by 16:25 with an ask of 3.1p by close with premiums of 3.2p over a million.
The MM's will have known about the trade for some time but yet the door was being firmly closed on anyone getting back in below 3p before close. If the 26M was a straight sell trust me this would have closed down at 2.5p or below but the opposite happened hence why I think it was a delayed buy but from when exactly is the question.

https://oilprice.com/Energy/Energy-General/The-Electrification-Of-UK-Offshore-Oil-Gas.amp.html

By Rystad Energy - Sep 20, 2020, 10:00 AM CDT

"Rystad Energy analysis shows that UK oil and gas production will remain significant for decades to come. After a small decline over the next several years, output forecast to rebound to approximately 2 million barrels of oil equivalent per day by around 2035."

"Rystad Energy projects UK oil and gas production to rise over the years and peak at 2.09 million boe in 2035, up by about 25% from the 1.64 million boe expected this year. In order to reach its ambitious climate goals, the country will need to take serious steps towards decarbonization of its production by electrifying its infrastructure via renewable sources of energy, thus moving away from carbon-intensive gas turbines and diesel generators on offshore platforms."

Plenty of reasons to be optimistic for the future....

"the Technical Review has identified upside within sandstone reservoirs on the flanks of the Lancaster field, with the potential for volumes of recoverable oil which are significant in a UKCS context. Furthermore, together with Spirit, we are working towards consideration of a viable development plan for the Lincoln field."

"We will be engaging with all our key stakeholders regarding our forward work programme and financing arrangements and updating the market on these efforts in due course."

Most oil producers have debt and the level of debt is comparatively low in the grand scheme of things so there's an excellent chance of Hur turning this around. Investor's are realising just how much of a bargain this is at 3p after the drop from 60p so can see a re-rate on the cards here back to 6-8p initially.

I fully agree re where this is heading next week and beyond BUT what I don't understand is if the theory is true from some poster's on here that the 26M trade was a sell AND was Dr Trice then I don't understand why now?
Usually if a director leaves a company for whatever reason the shares they own can't be sold for 3-6 months. So if true has he been forced to sell in order to get rid of him completely? Which would be good news. Either way we are primed for lift off. I think a few buy orders didn't get executed near close on Fri.

Whatever the if's and maybe's of that trade the simple fact is Fri was the highest finish of the day at 3p since the bombshell RNS.
Towards close yesterday it was 3.2p for anything over a million so I think we all know what direction the SP is going in next week

Like I said last night I think it was a delayed buy from earlier in the day. No way we would have finished 5% up with a huge sell trade like that

Surely a sell that size would have crashed the SP but we actually finished up today. Is it possible that was a delayed buy from earlier in the day?

Looking good Brent ticking up again this afternoon currently another 1.37% up at $42.80

Urraca - agree 100%

Exactly my thinking the other day when the bombshell news landed. Perfect opportunity now for the new guy at the helm to do just that now and turn sentiment round.
Am not surprised that the number of short positions continue to fall since last week's announcement.

Brent crude back up another 4.4% today almost $3 a barrel higher than yesterday morning at $42.30.
At 14k bopd from just one well that equates to an extra $42k revenue a day. With recent huge crude draws and drop in stockpiles should hopefully head back towards $45 by end of week

This guy has the experience and expertise to come up with a decent plan that will not just maintain and increase bopd, but will materially increase the reserves that were recently massively downgraded. Expect detail of a plan to be announced anytime now. CA could still be buying more. Follow the money....

“pleased to report that Antony Maris has agreed to assume the Chief Executive role at
Hurricane. His leadership record with entrepreneurial oil and gas companies, and importantly his technical experience and knowledge of the behaviour of fractured basement reservoirs, makes him the ideal candidate to lead Hurricane."

"Maris brings 35 years of wide-ranging oil and gas sector technical and business leadership
experience to Hurricane. Most recently, he spent 15 years with Pharos Energy plc (previously SOCO
International plc) where he was Chief Operating Officer from 2012 to early 2020. In this role, he was
responsible for the development and operation of several oilfields, in joint venture with local and
other parties, including fractured basement reservoirs offshore Vietnam and onshore Yemen. Pharos Energy’s Vietnam assets, which delivered 60,000 bopd gross peak volumes"

On top of yesterday's holdings RNS its quite possible CA haven't finished buying yet.

Hopefully 4p+ close today

Agreed and on the back of this Brent crude has rallied since yesterday evening - up 2.4% yesterday and up 1.7% so far this morning

I think it's taken a few by surprise but sends a clear message that there is still a viable business case here and is now being further supported by CA. They obviously see value here.
The RNS was dated Fri so it's possible they may have bought some more yesterday or today which if the case we can expect another holdings RNS this week. Be surprised if anyone will be able to buy any of these below 3p tomorrow...

Great news.

Plus this....

ShortDataUK Chart with downwards trend
@shortdatauk
2m ago
Polygon Global Partners LLP short position in HURRICANE ENERGY PLC down -0.13% to 1.19% #HUR $HUR #LSE

Burn shorters burn haha

Agree absolutely Goldbars.

Great finish Fri looking good for 0.30-0.40 by end of next week

Tbf the SP has dropped 90% over last 12 months roughly the same amount as the resource downgrade so in that simplistic view here I'd say Fri's bad news is fully priced in.
Definitely a potential takeover target perhaps 2-3 times current mcap

Now 11.1% up.

Anyone heard from Tom? Last he'd said on here was that he was putting his money from here into TYM poor guy

Given how much the price of oil has dropped over last few days with Brent at 39.82 the timing of this absolutely disastrous update couldn't have come at a worse time

Wow what a disastrous update....