Member Info for NGR1616

Looks like they're using TFT

Flakey.....Peterson is just one potential string they company is involved in. It's outcome is really only material if we win. If BUR doesn't get a successful outcome in this case (which I doubt will be the case) it genuinely doesn't matter long term as far as I'm concerned..

This effort will definitely sort out the geology!

https://www.youtube.com/watch?v=dHS_TFCfl18
Our very own Judge describing an example impropriety.

Black rock is apparently not a suitable word when out together! :-)

Mans wife has a financial vehicle invested in world leading tech companies. If you did any research into your own pension funds you will likely find you are invested in the same equities. I am with Black****. Is a wife or extended family to no longer invest for their future financial security?

easyp
"That said, the well continues to pump out oil on a daily basis, the market price of the oil is high and I am not convinced production might just fade away in a few months time when the company is producing forecasts which cautiously suggest otherwise?"

As Scotty would say, you canny change the laws of physics. That gas is going to come out of solution when it reaches the bubble point no matter how hard you try and believe it won't. The trends tell you that much and only a reduction in production rates can prevent it happening sooner. You need either a new well, or a WI well which some on here were against , or a gas offtake route. None of these can happen without investment.

I see Energy Voice are reporting on the bubble point too! Those pesky shorters do get about!

Significant trading volume as well. Could the US have a different view on this? Avg 3 month volume 44,581. Today 761,244 which is 17x avg volume. The price started to move up consistently throughout the day but volumes have picked up as the day progressed as I see it.

the market seems to disagree with our view! Not for the first time market reactions baffle me! Did anyone view the presentation? Was Jam a subject?

Well that was a lot worse than I expected. From now on I will be ignoring any forward revenue guidance. What a f-ing joke.

Not feeling too confident....RNS incoming I assume!

The CB holders look like they will get paid. Hence the increase in the bond price. But that's not what's killing the confidence in HUR.

Well done JODO. Bank it.

Defaultuza...... I was a shareholder here in the past. I got out with my limbs intact but what it means is I know this company, the reservoir and the wells better than most.

Sadly I think many here, including you are blinded by a bad investment decision.

TC81 that article could have been written by one of my kids. Its just an extrapolation of the RNS and both give the same warnings!

I can guarantee you this much, any one who suggests this RNS contains good news or indeed no new news are the ones you should be wary of, not those describing the harsh realities.

Reading these bulletin boards reminds me of the Chernobyl drama on sky. You lot are Dyatlov denying the reality that the reactor blew up.

Here's the Legasov part explaining how it happened.....
-The reservoir is declining (as they all do).
-It's connected to more water than oil.
-The OWC is increasing as per previous RNS at 33% 17tyh September.
-The flowing wellhead pressure is trending down bring them closer to the bubble point which they estimate may happen by end of Q1.
-When that happens the GOR will dramatically increase.
-Without a gas export solution.......
-the company will be out of tricks..........BOOM.

There is no good news.

Nonesensman
Today 30.09 (29-09 as per his correction) HUR CEO (Maris ) issues RNS 'production update', says 2 things:-
1. Production at upper end of projection, oil price higher than projection
2. Reserves & production capability so fragile that production may end tomorrow, or by 22 July (bond repayment date). ***No explanation given***; previously estimated & published Feb 2024 Well P6 end of commercial production date not mentioned
RESULT - SP price crashes

"No explanation given" How is that the case? It specifically mentions reservoir decline, which will mean a reduction in the bottom hole pressure at which point gas expands and the GOR will increase. HUR has no way of handling the adiditonal gas ergo they will have to either reduce production accordingly (bear in mind that the increase in GOR is not proportional so the oil produced will be much less compared to the gas produced) to the point it is sub economic from an OPEX perspective. GAME OVER> They need to have a plan to deal with the gas or drill a new well. It's that simple.

From the RNS "The guidance for the Period is slightly lower than the average for the full year 2021 due to the expected gradual production decline from the reservoir over time, partially offset by the higher FPSO uptime assumption.



Based on current trends, management estimates that wellhead flowing pressure in the Lancaster reservoir may reach the bubble point by the end of Q1 2022, consistent with the time range estimation previously announced on 25 May 2021. Whilst this has been factored into the guidance for the Period, there will remain a degree of uncertainty regarding the full impact of this, along with the risk that gas liberated from the reservoir could be produced which could result in production either being reduced or ceased altogether."

Anyone who genuinely thinks that people pointing out realities is actually someone trying to close out a short is as mad as a flat earther, climate change denier or someone who thinks Brexit is a good idea. Mad as a box of frogs. The company has no forward plan at the moment and runs the risk of zero revenue in H2 2022 or sooner. They could come up with a strategy to deal with that, there are plenty of M&A opportunities out there and Hurricane could continue and become very successful, but not from Lancaster in my opinion.

I'm guessing I'm in the 'profits of doom' category but I expect you used profit as a pun rather than prophet....?

The BOD I will admit were wrong with the premature winding up of the company. But they are correct in issuing forward guidance to give a 'warning' as to what 'might' happen. How would you feel if they withheld such vital technical information? The facts exists that the OWC levels were mis-interpreted or mis-communicated by Trice deliberately or otherwise. The two wells were drilled in my opinion into the sweet spot of the reservoir, in the higher sections so any new wells can only be sub-optimal. The only other potential is that these particular wells are communicating with the aquifer in ways a new well might not although I doubt that to be the case. Unless they deal with the produced gas then the company will hit the buffers and this will affect the Blue Water negotiations and forward cash projections as well. Well done to those who made up for some losses but this will not be "taken out" now as the reservoir reaches end of life anymore than it was going to be taken out at the early stages when the EPS project started precisely to monitor reservoir performance.

Sorry but I disagree. This company just announced it's closure. Unless they can deal with the gas and/or drill a new well then I can't see any other outcome.