Member Info for MCB55

The price BP pay may well be market rate, but that doesn't stop HUR from using financial instruments to hedge, nothing to do with BP!

Sure they can hedge, but only when they have stable production, otherwise risk too high or just hedge half!?

Yeah I think they must mention the move to the main market at AGM (and the timescale, however vague) and certainly by CMD (which will most likely be the prelude to main market launch)
IMHO they will only move to the main market when they have a solid income stream, say FOIL plus 2-3 months (and by then at least 1 maybe 2 drill results) and certainly 6mths. So most likely 3Q and definitely 4Q.

Not convinced this is being manipulated at all!
What happens when a share starts to go up (on good news) and gets on the leaderboard (of high risers) then inevitably the day traders/short termers notice and hitch a ride for 10% or so (good return over a few days!), this turbo charges the short term rise, then they get out quick or on the first sign of a pull back, which in turn boosts the down turn! They have little to no knowledge of the business they are investing in, merely riding the wave upwards and hope to get out before being burnt. They never had any intention of leaving their money in for more than a few days let alone long term.
This is the "froth" that exacerbates any inevitable upside and downside in the sp. Shares never go up in straight lines due to emotions!
IMHO

Genghis15,
I meant last real opportunity for a TO by end 2020, really a backstop date, not the most likely!
Most likely IMHO is 1Q20, 1Q after 6 months stable production.

I think that a TO/farm in by latest end 2020 or preferably before is about right. Because all the technical information and most of the mapping will be done by then (and new CPR available) and not much more can be done to prove the size and extent of the assets. So if no one swoops and buys out/into HUR by then, then HUR will have to go it alone, which is sub optimal as they just don't have the money for FFD. They would have to go progressively with multiple FPSO's / piecemeal approach on multiple part field developments, rather than a big bang FFD! Once they go some way down that route they begin to make the whole thing less attractive to a full TO, however a farm in is still possible. Don't get me wrong, they can still make loads of money that way, but sub optimal approach. They should plan to go alone to prove that they can, but hopefully be taken out before too much money has been spent down that route.
Also it is easier as a LTH and PI like me to have my exit plan made easy via a TO, albeit hopefully at a decent price (several £'s).
IMHO

The good news is that those warrants/sales don't seem to have had much impact on sp. Good to get them out of the way, maybe clear now for a good run on good news!

Biffa,
I take your word for it, but don't see those trades on LSE!

Kerogen warrants take up, unsurprisingly!

Warwick is a horizontal well, no drilling down to the OWC! See the last corporate presentation.

In fact Catcher 1st HC's was Dec 23 2017 (66 days from hook up) and "first oil certificate" was Jan 6th 2018 after a "72 hour performance test" was achieved. The FO certificate is obviously a contractual milestone, being interim acceptance, probably vessel and crew on full day rate. Final acceptance may well be say 3-6 mths later, after being fully proven?

Cebo,
If you look up Catcher, the 66days is to first hydrocarbons and FOIL for contractual reasons declared about 14 days later! Dr T is going for 20 days because he wants to do more tests than normal, IMO.
Catcher is considerably bigger, more wells and more complex and so I was hoping that HUR would be far less than 66 days to first intro of HC's! Hook up was April 19th so plus 66 days is 24th May, so that should be latest IMO. I know that HUR PR dept said that commissioning will be book ended by Catcher (66 d) and Kraken (129 d), but they want to be conservative and cannot speculate and have a wide margin to aim for, IMO!

aduk,
There is also downhole fishing too, which you will know all about no doubt, but not many others!

Sorry I don’t agree; there will be plenty of hopefully good news coming in the next few weeks! If there was a no news horizon then maybe, the last thing we want is a BoD sending out non concrete hopes and aspirations. There will be flaring news; FOIL, update/presentation at the AGM and Warwick results all within about 6 weeks! So plenty of news flow shortly!

Whats the overview on this production then?
Is it about whats expected, better or worse?

All efforts will initially be on establishing stable flow and testing, so I agree with Cebo. GT 's on gas is a lower priority to FOIL.

SB,
Totally agree, there will be a flare as soon as first few barrels of oil are on board. It will then continuously flare even after turbines are on fuel gas and until we have a gas export line next year!

Surely a flaring rns come tuesday!?

Only other reason for flow line survey is just to do a double check that nothing untoward has happened ie tangled fishing nets, dragged anchors or giant squids

"....right now we need carbons, perhaps not by 2030/40/50....."
More like less so, but still need them, especially close to home! IMHO