Member Info for mover123

Away from the CFO subject does anyone of our ship watching friends have any idea how much we offloaded this week?

only slight reason for concern might be that it comes three weeks before they announce their 2019 financials. Hopefully there are not some problems that have been uncovered on year-end audit etc....

I like the wording in this - the Board have taken action here. One question in my mind however is year-end financials - whether he has gone because there has been a ****-up on the numbers which we may find at the 2019 results announcement.

27 February 2020

Hurricane Energy plc



("Hurricane" or the "Company")



Directorate Change



Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, announces that Alistair Stobie has resigned as Chief Financial Officer and a Director of the Company by mutual agreement with the Board. Although not carrying out his day-to-day responsibilities after today, he remains available to assist Hurricane with the transfer of his responsibilities.



Richard Chaffe has assumed the role of Acting Chief Financial Officer at the request of the Board. Mr Chaffe joined the Company in 2016 as Head of Finance. He was previously Finance Director at EOG Resources in the UK and before that worked for Ernst & Young.



Steven McTiernan, Chairman of Hurricane, commented:



"We thank Alistair Stobie for his contribution to Hurricane and are pleased that Richard Chaffe has agreed to assume the role of Acting Chief Financial Officer. He has considerable finance and audit experience both within Hurricane and the wider oil and gas sector."

clearly he has been asked to step aside. This I think is a good move as we need some fresh energy there. This is positive IMO

....also interesting that there have been 4 sell trades coming to a million in the last hour and the price goes up....

Market is in a rout and we are break-even possibly blue by EOD - worth celebrating!

apologies 600,000 @ $56 / barrel is $33,600,000. Therefore its even more crazy a share price!

The last offload was 22/1. According to the Operational update on 29/1 they said they would pump 12,500 /day to end Jan which would have been 100,000. Then assuming 20k bopd to 25/2 that would be another 500,000, 600,000 in total or $28,000,000. Crazy when you consider the share price. Expect choppy seas today. We may go down before we go up given what is happening in the market.

Can anyone with access to L2 see what the buy / sell ratio is looking like today? we are outperforming the market rout to quite some degree so wondering if there is some chunky buying going on

BP down 4% along with the other majors, we're down 2%. we seem to be outperforming the market generally which I think talks to the fact that we're just about to offload another $25m of crude. I agree with other posters in that each successive offload just simply validates the performance of EPS and therefore should be price supportive. Can't believe there are some posters bailing out - just need to sit tight and make a cup of tea.

are these genuine? anyone have any insights or is driven on expectation of an imminent offload?

thanks all. hard to believe that another offload won't move the SP at these levels. If we can understand the volume as well then it will give us clues on the production but I still contend that the 29/1 RNS was quite clear - 20k bopd (or thereabouts) from end Jan unless they tell us otherwise.

Anyone of our ship-watching friends have any clues about an offload? If we are 20k bopd for the last 19 days then it would seem we are due one

in the same boat Pete- although have averaged down having pruned by holding in the 30's, I bought a big slab at 16. To that end - I see 15/16 as the "new" 40 - in other words I see it highly possible that a doubling or tripling in the next 6 months is possible (having thought the same was possible from 40. There will be no keeping this stock down when Lancaster is fully proven and we have a line of sight to monetising Lincoln....

oil stocks up but we seem to be in the vanguard which is good - hopefully we are turning a corner here. Logic and value will win the day (eventually)

seems to be en route for Scapa Flow

Exactly Genghis - lets deal with whats in the public domain, viz:

Hurricane intends to complete its individual well flow test on the 6 Well before the end of this month and thereafter intends to flow both the 6 Well and the 7Z Well at a combined rate of approximately 20,000 barrels of oil per day. The Company intends to discuss the data acquired from the separate well tests and the subsequent combined flow at the Capital Markets Day on 25 March 2020, unless at any time prior, that data is outside of expectations.

The last announcement was quite clear on this - they will lift 20k bopd from end Jan and next update will be CMD. So the company is pumping $1.1m of revenue per day unless they notify us otherwise - its very clear.

Second - the only way this share goes in the medium term is up. I see 15p as the new 45p - ie we are highly likely to see a 2/3/4x rise over the next 6 months. So the best thing all LTH's can do is buy-up, average down and hunker down....

Hurricane intends to complete its individual well flow test on the 6 Well before the end of this month and thereafter intends to flow both the 6 Well and the 7Z Well at a combined rate of approximately 20,000 barrels of oil per day. The Company intends to discuss the data acquired from the separate well tests and the subsequent combined flow at the Capital Markets Day on 25 March 2020, unless at any time prior, that data is outside of expectations.

they cannot do this immediately - it needs to be approved by shareholders by which time we could be back in the 30's. I would say better to invest the effort they would spend on that getting a main market listing so we don't get gamed all over the place by the MM's. I also think the cash is far better deployed exploiting our resources in Lancaster, Lincoln and then Warwick.

3 tankers currently in Lerwick - Navion Oceana, Petroatlantic and Petronordic. I think all three have taken offloads previously. Does anyone have any intel on whether these might be used for the forthcoming offload? Any comments on weather conditions?