Member Info for PlantedBHA

The grim reaper cometh to your door... best get yer sneakers on and start running ...

CA have now got their average sp down to :
6.6p

Hurricane Energy plc
6.6
11.2%

Exposes them as lightweights in the industry ...
That’s simply not oilfield ...

I couldn’t believe they ousted him....

Could this statement by CA be a pre curser to a better than expected CPR.

At least we’ll get a free cigar ...,

Or embarassement to the industry ..perhaps

Really not good qualities to be labelled with ... expect heads to role as infighting starts at board level. Crystal amber will likely split the pack and gain a seat .. come time ... chaffie has to be first head to go.. if I were him I’d get my bags packed ..

However, they do seem to be in the camp of there being value, POO is aiding their cause and that the cash generation has things covered ...

Return of Trice .... don’t count it out... he had major connections to money in the city ... he made some people a lot of money.

The Fund is no longer prepared to be excluded from participating in the evaluation of impending critical decisions by those who have virtually no skin in the game. The Fund always prefers to engage privately and constructively with its investee companies. However, the Fund has found the board of Hurricane to be both indecisive and obstructive. Therefore, it now intends to take appropriate action in order to maximise Hurricane's potential.

A trading update in January 2021 highlighted how cash generation has recently improved as a result of the recovery in the oil price, with the company generating $19 million in the month of December 2020 alone, taking cash to $106 million. The Fund notes that the price of Brent crude has recently continued its strong recovery, from $38 per barrel in October 2020 to more than $60 a barrel. The Fund believes that in 2021, this increase alone should add more than $100 million in cash to Hurricane. It should also significantly increase the value of Hurricane's other, hitherto, untapped resources if this level is maintained.

Fund taking appropriate action.... mmm

Looks like the bond ain’t a problem after all...

What action can they take ?... or is it sabre rattling by one p@sped off investor ...

Interesting even they have no idea why Lincoln cannot be tied back or why they ain’t payed off half the bond ...

If I were a director I’d be worried, maybe louboutin Shiela will be first to go or chaffie.. both of which I’ve found to be less than useless ..

Brent goes to $70 ... tanker turns up...

140 million in the bank ...

Do they have an ace up their sleeve or will the sharks take them out....

Not sure the shades are working ...

As a result, the Company has concluded that it will not be possible to drill this well during the 2021 summer weather window without unacceptable operational and cost risk.



While no firm decisions have been made, the Company is now considering various options including:



i. drilling the side-track in 2022 following further planning activity during 2021;

ii. drilling the side-track together with the previously contemplated water injection well as a combined programme in 2022; or

iii. drilling the side-track in 2022 and the water injection well in 2023.

Is there no operational or cost risk in 2022..,

It sounds like BS from a management team incorporating a new CEO who was sold as our saviour..,

No respected oilman or woman would have put out such a statement ... let alone people on £200k a year ...

They are an embarrassment to our profession ...

Turns up again within the week ?

Not a drill planning issue ..

No questions....

I’m guessing louboutin shiela still at the trough after yet another dismal performance..

If we are not drilling for a year I’m sure we could get rid of a few of the deadpool...

I’m still very concerned that management don’t think we can drill our well given all the expertise at hand ...

I for one could help ...

Ages ago.... yet nothing ....

Re what was coming yesterday...
Would it not be feaasible that they could , along with others, have forced this statement, knowing the effect on the sp.

Then now comes the eureka moment whereby now things are agreed and sp takes a climb.., oh a great CPR

Possible... absolutely ...

Was BS of the highest order and any oilman who stood by this should not simply not remain in post long...

Chaffe and Maris should be removed ... and soon ...

In practice .. RSS tools can take you where you want to go... no exception ... period ..

This proposed side-track is more complex in nature than previous wells on Lancaster due to the incorporation of an intelligent completion and the challenges of delivering the well trajectory from the side-track location. As a result, the Company has concluded that it will not be possible to drill this well during the 2021 summer weather window without unacceptable operational and cost risk.

This bit especially ...

delivering the well trajectory from the side-track location.

I have grave doubts about any CEO who would sanction such a statement given the technology at their disposal.
Current drilling techniques and Rotary steerable systems can attain any trajectory you want hence shale became so successful in the USA with wells kicking up and going horizontal with large doglegs at shallow TVD’s...

Maris ... if you are looking to be taken seriously ... don’t make such statements...
chaffe must be close to the door for this utter nonsense ...

Get maxed out on mizu handling

Pump like a r@ndy b@ll in heat ....

The Company confirms that these stakeholders include an ad hoc group of convertible noteholders. Discussions on the Company's forward work programme, strategy, financing and balance sheet recapitalisation are ongoing.

Ad Hoc ..... mmmmm , sounds like hurricane management have been in a few rounds with the financiers; who want blood...

Where is our fabulous finance guy chaffe in all this ???

Is it time that he got ousted ...

After all... if your a truck driver and you can’t drive then your not driving ??

Urraca

I’m a tachnical head of driving a truck... will that do?

Technically, I don’t believe the statement they have made.
Directionally they can do it... challenging yes... but given enough experience this can be done easily..there are very clever people in oil...

As muted by louboutin Sheila previously ... I think the 6 well is now seeing more support and therefore they have done some calcs and , the production added to the increased .. forecasted oil price gives them
Confidence that they have the cash going into 2022 to keep them going... and some ..
Like others... I suspect they know most; if not all of the CPR by now so have made their decision based on this new report...
I actually find this RNS positive ... the game of Russian roulette has played out and management are ballsy enough to say ...give me the shooter... I don’t care if there is a b@let in the chamber ... I’m going to survive ...hurricane is going to survive...