Member Info for MCB55

Two points:
1) The EPS life at present is for only 6 years and not ad finitum! That is 2P reserves of 37mboe.
2) The flaring consent will limit production to ca 20kb/d

Totally agree that full year final audited results showing a profit for the first time will be a very good indicator for II's, combined with the projected figures for the next 3-5 years! Gives them some facts to base their decisions rather than just potential!

Laughable nonsense!

"Crystal Amber said today that it may not be possible to tie back the well “at all” unless the OGA’s “ruling” can be “modified”.
This quote gives the impression that the reason is not lack of Spirit finance/support or technical, but something else more prosaic, such as a tie back to AM reduces the options for FFD or an EPS for Warwick and hence holds Warwick future development back rather than enhancing it now OR that OGA want more delineation of the field before agreeing a production well OR a bit of both!?
Thoughts anyone?

There should be a raft of good news coming this month......onwards and upwards!

The only reason they might go for a dividend is when they transfer to the main market. A divi might help attract II's and fund managers.

.....and he will stoop to anything to try!

.....oh and the herd, hur are on the risers leaderboard.....

.....sentiment change and bots gone home?.....

The live sp is now over 16p.......if this is a breakout after AS departure and CA buy then I think the manipulation down to 14p was all to do with CA wanting to get AS out and also to make money on the shorts and rebound!!

I am not so sure....I think Sir Jim maybe good for Spirit and also maybe Hur......he knows how to get a return on investment and gets after it!
Even a Hur buyout at fair value less 30% would be say 70++p!?

SG,
Totally agree!
"fastest possible incremental; ie fpso's"
That is the key to a credible plan for Hur.......and I now believe for a farm in/buy out too, because it gives early return on investment (it may not maximise total return, but that's maybe gone now!?).

Adult,
I agree in principle, there are too many variables to get a clear idea what the 5 + year plan should be! That’s one reason the CMD will herald a major change in the future plan, the cost of the extra delineation wells being a big factor. However if another Lancaster well is brought forward to this year and is successful may hopefully also bring forward the FID for Lancaster FFD phase 1 to next year, etc, etc.
So hopefully not all delays and extra costs. Hur May not be in a position to detail the new 5 year plan by CMD as they are probably too pre occupied with all the last minute 2020 drill plan changes, but some clarity should be forthcoming!

Aduk,
"FFD is something that Hurricane just cannot do 'standalone' by itself. It must involve partners with deep pockets."
I think we've been here before, Hur could (IMO without a detailed cash flow forecast) develop Lancaster on a phased basis (say 2-3 phases), that is multiple FPSO's rather than a big bang FFD. Much as they have done with the EPS. The main capex for Hur would then be the drills and the sub surface kit (xmas trees and flow lines) and the FPSO conversion/upgrade would be at the supplier's cost and recovered at day rate related to actual production. Any hopefully smallish shortfall in capital could be covered by a bank loan rather than another cash call/dilution of shares.
I think they have to demonstrate that this is possible via a credible plan/way forward to both OGA and the market, whilst continuing to court a farm in/buy out. Otherwise they would get on the wrong side of the OGA in not being able to fulfil their licence obligations in a reasonable timescale and also be exposed as a lame duck to a predator!

"Perhaps Alistair Stobie was resisting a takeover bid."

Maybe he was pushing for a low bid, having clandestine meetings with interested parties!? Maybe II's wanted him to do something about the sp, like buy back shares or investigate shorting, etc, and he says what can I do? Any number of possibilities, take your pick!?

One of our main UK competitors seems to be Dragonfly Biosciences, they have distribution to Boots and Tesco! They are a small private £50 company as far as I can make out with 11-50 employees. We must be able to blow them away when we really get going!

It means nothing....Ive even seen on here LSE after hours the sell price higher then the the buy, or before the market opens, etc!!!!!

$.152 to buy on OTC!

Agree AS resignation has been forced by RB and others, IMO.
RT and AS have been together for a long time, it would have taken quite a bit of pressure for him to release AS.
However the fact that it is of immediate effect smacks of blood on the floor. Could be RB says AS goes or I pull my investment/support!?

OTC buy today, 25000 at $0.137......best so far in the US!