Member Info for proverloop

Here's a random post Dire from full year results 19 March 2020
Outlook

· The combination of low oil prices and COVID-19 have created an unprecedented economic environment

o However, at our guided production rate of 18,000 barrels of oil per day (which includes a 90% uptime assumption) cash operating costs are expected to be approximately $17 per barrel

o Hurricane has been working with its offshore rig, FPSO and aviation contractors to put measures in place to prevent COVID-19 having an impact offshore and limit broader impacts on production operations

· Hurricane holds significant cash balances ($164.3 million of unrestricted cash as at 18 March 2020) which is forecast to be sufficient to meet obligations and committed costs as they fall due

o Hurricane is reviewing its forward capital work programme beyond existing commitments, in light of the macroeconomic environment

Around 700+ days till July 2022 even at $40 @12000 Bbld that's over £109 mill in profit,(@$27 bbl lifting cost) if they choose to pay off the bonds, + the cash in the bank, which IMHO they won't, they'll remortgage.
Again IMO they probably will have to re-drill 7z , but in the mean time they will probably flow the well again, at a manageable rate until the water becomes a problem again, then close it in again like they've been doing during the well testing, they will have a good idea of the optimum choke settings by now.
Some of the long termers that are left here will remember DrT saying a few years ago now that he wanted to be an exploration company, what he probably meant was that he'd be happy to let someone take over the operator-ship of the fields as long as there was enough coming in for further exploration, so it may not be a surprise if they part with some of the asset,but mind you he's almost gone(still a large share holder) so that outlook may have changed.
Swazer's keep the charts coming and ignore the white noise, (its an open board, so everyone can voice there opinion) as there's been some amount of crap written on the board recently.
I'll be back in 6 months when I'm hopefully not so deep under water.
Keep the faith.

They should've been fined the day rate x the amount of days they delayed the rig, shower of do good %$&*$rds.
Keep the faith and ignore the noise.

The plan was to commission the pumps, but restrictions on non essential personnel coming offshore at present has put this on the back burner.
I can't see Hurricane actually using them anytime soon,(once they are commissioned) if the well or wells are flowing naturally, especially as we are still in the testing phase.

If you look in the RNS section at the top of the page and highlight the holdings section you can the majority share holdings.
There none.

From 24th March RNS - $17
Market Environment

The impact of COVID-19 is unprecedented and, as we previously announced on 19 March 2020, we expect the oil industry to be increasingly affected. Since then, operators on the UK Continental Shelf have faced increasing challenges from travel restrictions on the offshore workforce and a significantly depressed oil price. Whilst the Lancaster Early Production System ("EPS") has cash operating costs of $17 per barrel at current production levels and oil prices, operating cash flow from the Lancaster EPS will be materially lower than previously forecasted for an indeterminate period. Hurricane has a strong balance sheet, including $164.3 million of unrestricted cash (at 18 March 2020) and is therefore in a strong position to weather this current downturn. However, should this change in the market environment persist, it is likely to have a material impact on our capacity to fund capital expenditure.

Sharehunter; Probably because they're buying instead of filling up this board with needless comments.

https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-financial-calendar-2020.pdf

Ammu123 ; How is shutting in in production is going to save the workforce ?
Its safer to leave things running unless critical members of production/maintenance are unable to work.
Its more hazardous to shut in production than to leave it running, (why introduce another hazard?) If the process were to trip,(which its designed to do safely) then they may re-evaluate if staff measures dictate.
Operators have things in place for this happening.

On the other hand there's no mention of it being postponed?

Annex 1

· ABENGOA CLASE B (ISIN: ES0105200002)

· ACCIONA, S.A. (ISIN: ES0125220311)

· ACCIONES FOMENTO DE (ISIN: ES0122060314)

· ACCIONES IBERDROLA (ISIN: ES0144580Y14)

· ACERINOX, S.A. (ISIN: ES0132105018)

· ACS,ACTIVIDADES DE CO (ISIN: ES0167050915)

· AEDAS HOMES, S.A (ISIN: ES0105287009)

· AENA, S.M.E., S.A. (ISIN: ES0105046009)

· AIRBUS (ISIN:NL0000235190)

· AMADEUS IT GROUP, S.A. (ISIN: ES0109067019)

· APERAM (ISIN: LU0569974404)

· APPLUS SERVICES, S.A. (ISIN: ES0105022000)

· ARCELORMITTAL SA (ISIN: LU1598757687)

· ATRESMEDIA CORPORAC (ISIN: ES0109427734)

· AUDAX RENOVABLES, S.A (ISIN: ES0136463017)

· BANCO BILBAO VIZCAYA (ISIN: ES0113211835)

· BANCO DE SABADELL (ISIN: ES0113860A34)

· BANCO SANTANDER S.A. (ISIN: ES0113900J37)

· BANKIA, S.A. (ISIN: ES0113307062)

· BANKINTER, S.A. (ISIN: ES0113679I37)

· BIOSEARCH, S.A. (ISIN: ES0172233118)

· CAIXABANK, S.A. (ISIN: ES0140609019)

· CELLNEX TELECOM, S.A. (ISIN: ES0105066007

· CIE AUTOMOTIVE, S.A. (ISIN: ES0105630315)

· COCA-COLA EUROPEAN P (ISIN: GB00BDCPN049)

· CODERE S.A. (ISIN: ES0119256032)

· COMPAÑIA DE DISTRIBUC (ISIN: ES0105027009)

· CONSTRUCCIONES Y AUX (ISIN: ES0121975009)

· ENAGAS,S.A. (ISIN: ES0130960018)

· ENCE ENERGIA Y CELULO (ISIN: ES0130625512)

· ENDESA,S.A. (ISIN: ES0130670112)

· ERCROS (ISIN: ES0125140A14)

· EUSKALTEL, S.A. (ISIN: ES0105075008)

· FAES FARMA, S.A. (ISIN: ES0134950F36)

· FERROVIAL, S.A. (ISIN: ES0118900010)

· FLUIDRA, S.A. (ISIN: ES0137650018)

· GESTAMP AUTOMOCION, (ISIN: ES0105223004)

· GLOBAL DOMINION ACCE (ISIN: ES0105130001)

· GRENERGY RENOVABLES (ISIN: ES0105079000)

· GRUPO CATALANA OCCID (ISIN: ES0116920333)

· GRUPO EMPRESARIAL SA (ISIN: ES0180918015)

· INDRA SISTEMAS S.A., SE (ISIN: ES0118594417)

· INDUSTRIA DE DISE\O TEX (ISIN: ES0148396007)

· INMOBILIARIA COLONIAL, (ISIN: ES0139140174)

· INTL CONSOLIDATED AIRL (ISIN: ES0177542018)

· LAR ESPAÑA REAL ESTAT (ISIN: ES0105015012)

· LIBERBANK, S.A. (ISIN: ES0168675090)

· MAPFRE, S.A. (ISIN: ES0124244E34)

· MEDIASET ESPAÑA COM (ISIN: ES0152503035)

· MELIA HOTELS INTERNATI (ISIN: ES0176252718)

· MERLIN PROPERTIES SO (ISIN: ES0105025003)

· METROVACESA, S.A. (ISIN: ES0105122024)

· NATURGY ENERGY GROU (ISIN: ES0116870314)

· NATURHOUSE HEALTH, S. (ISIN: ES0105043006)

· NH HOTEL GROUP, S.A. (ISIN: ES0161560018)

· OBRASCON HUARTE LAIN (ISIN: ES0142090317)

· ORYZON GENOMICS, S.A. (ISIN: ES0167733015)

· PHARMA MAR, S.A. (ISIN: ES0169501030)

· PROSEGUR (ISIN: ES0175438003)

· RED ELECTRICA CORPOR (ISIN: ES0173093024)

· RENTA CORPORACION RE (ISIN: ES0173365018)

· REPSOL, S.A. (ISIN: ES0173516115)

· SACYR, S.A. (ISIN: ES0182870214)

· SIEMENS GAMESA RENE (ISIN: ES0143416115)

· SOLARIA ENERGIA Y MED (ISIN: ES0165386014)

· TALGO, S.A. (ISIN: ES0105065009)

· TECNICAS REUNIDAS S.A. (ISIN: ES017816

It was a bit like The Smiths song from back in the day (Panic) but a bit of normality to the price has been restored.

I've been reading some concerns about separators tripping due to bad weather etc, this may happen if the weather gets lumpy but generally you'd get things reset & back up within an hour or two.
The separators have level controllers (instrumentation) to protect the whole system, in bad weather you can override the high level trips as you get spikes caused by bad weather.(although you're not meant to run with overrrides on for any length of time)
I read some grumblings about the risers, in the bad weather, the flexi risers are attached to the bouy, the clue is in the name flexi, there's a fair bit of play in them, all of that would have been thought of by the boffins long before the AM was in Dubai.
All the rumblings about light load etc; this may be just to tie in with another load just before CMD? Roll on CMD .

The operating company has to apply for these permits annually for anything that has the potential to be discharged to sea.

Done

I posted this on the Hurr board and someone suggested I post it here .
Just a thought for all the UKOG contributors who've been speaking crap on here this last while back, we know where the produced water goes from Lancaster & any other offshore installation (if you care to read my previous posts) but on land rigs, is it taken away in tankers ?
Just a thought?

You've gotta love the last line of the Proactive review, "grow a pair for the long term"

Just a thought for all the UKOG contributors who've been speaking crap on here this last while back, we know where the produced water goes from Lancaster & any other offshore installation (if you care to read my previous posts) but on land rigs, is it taken away in tankers ?
Just a thought?

Esk : RNS is the only true legal reporting line that anyone should believe.
The boards are good or bad depending on who you believe, but if you've been in a share long enough & keep an eye on the messages you get to know who is full of crap and who isn't, you also get to know what people do for there day job or what they used to do.
Its easy to see why people can lose faith in any share, but nobody knows what anyone's circumstances are.
This was always going to be one for the future ,(in my mind anyway) 2021/22 is when I'm looking at for a major increase in share price (although I didn't see it being lower than 40p never mind <30p ) The EPS should be well proven and all potential problems with FB ironed out, also even the doubters should have gone by then, also there should be more oil being produced. (or was that tankers of water)
I also remember listening to Malcy & his £20 for a fiver speech.lol.
I seem to remember Dr T saying a few years back that Hurricane were quite happy not to be the operator, (if the right partner came in)he gave the impression that they were quite happy being the explorer and leave the day to day running to someone else, which maybe imo once the FB at Lancaster has been proven to flow for the timescales mentioned we may find another farm in partner taking over the day to running of the AM.
Keep the faith, if you've got the stomach for it and ignore the noise.

14500 bbopd x 32 days =464000

Buzz : I don't normally post much either unless someone is talking out of their arse!
Read my post from around a week ago, regarding what happens with produced water,(on offshore installations) I should know I've been doing this job for long enough.
Nothing has changed since Dr T said before Christmas that one well is producing with minimal water cut, then both wells will be flowed together.
You and the other newly created day trippers could easily clear off as there is no new news here.
Rant over.
GLTALTH's