Member Info for schlemiel

'During the period, the Company engaged with management regarding the utilisation of tax losses. In its 2021 results, Hurricane disclosed that it had $382 million of ring-fenced trading losses at group level and other allowances and supplementary charge losses and investment allowances of $693 million, which have no expiry date and would be available for offset against future trading profits. Additionally, it had $328 million of capital allowances available against future ring-fenced trading profits. It commented that the estimated value of these losses and allowances at prevailing tax rates, including the Group's pre-trading expenditure, future decommissioning costs and non-ring-fenced losses, is $410 million. **In the event of a corporate transaction, the Company believes that the benefit arising to Hurricane's shareholders could be very substantial. **'

From today's CA RNS

''-- Hurricane Energy prospects transformed with company now debt free with net cash accounting for around 50% of market capitalisation and production of three million barrels forecast over the next year. ''

I'm happy at that. Always thought P8 was a risky venture. Build the cash and buy a gas company like PMG or IOG

''Outlook



With the ongoing success of our technical and operations teams, especially in beating the target for scheduled maintenance, the Company anticipates that, barring any unforeseen issues, production from Lancaster will be towards the upper end of our production target of 7,500 - 8,600 bopd during 2022. On this basis, if the price of oil is up to $90/bbl for the remaining cargoes in 2022, we forecast our year end net free cash being up to $110 million.



Our staff and management, together with our contractors, have done a great job over the period and I would like to thank them for their excellent performance and contribution to the Company's current strong position.

While water cut will continue to increase and pressure to decline, the field is expected to remain highly cash generative into 2024 at current commodity prices. Retaining these funds for further investment and acquisition for the future will be key but always measured against delivery of value to stakeholders.



The decision not to proceed with P8 is very disappointing. While the current extreme volatility of oil and gas prices makes it harder to plan for the future, we are confident that we can deliver additional value for our shareholders. Whether this is in further investment in new opportunities in the UK oil and gas sector, or beyond, Hurricane is well placed for a successful future.''

No further investment in Lancaster which might be a good thing. Time to look beyond Lancaster

https://uk.advfn.com/stock-market/london/crystal-amber-CRS/share-news/Crystal-Amber-Fund-Limited-Final-Results/89183054

https://www.londonstockexchange.com/news-article/HUR/half-year-results/15651534

'THE US PLANS TO ANNOUNCE NEW SANCTIONS TARGETING IRAN'S OIL SALES AS SOON AS TODAY- BLOOMBERG REPORTER TWEET

oil longs'

https://twitter.com/zerohedge/status/1575524173597724676?cxt=HHwWiMCq5e24sd0rAAAA

'The Tanker was for Solan our supply vessel was at the AM for 3 hrs this early morning. We are a couple of weeks away from our next offload . My own view is production continues and has been for last couple of weeks, they have flared although i dont know periods but sat did show some hot spots around AM. Maint all completed . Expecting some positive news, anticipate progress on drill program front for 2023.'

Tks to the ever reliable Laserdisc on t'other channel

Let's see what emerges shall we

I can't see a quoted or personal comment from the CEO of CFO. That's unusual. BHP need to take out this company and do it a favour

https://www.investi.com.au/api/announcements/tbn/e0020656-950.pdf

*RBC SAYS OPEC+ MAY CUT 500K B/D -1 MILLION B/D AT OCT. 5 MEET

https://twitter.com/zerohedge/status/1575216201751756800?cxt=HHwWgIDU3cSypdwrAAAA

carp = halfwit

You have no choice if you're a holder to let it play out until it does turn around. That's the brutal reality of equity. Accept the risk or stick your capital in a savings account with the Halifax or whoever..it's shhhhiitt but that's the way it is

nm

https://www.sharecafe.com.au/2022/09/26/tamboran-origin-deal-paves-way-for-beetaloo-development/

It's a hefty article but zero reference to FOG and its ROFR

dpruskky

Use an adblocker like Adblocker Ultimate, Privacy Badger and ublock Origin...they all work for me and halt any videos that tend to pop up on all sites

PMG as well though I would love it if HUR climbed into bed with PMG

My advice :

HUR assuming its future plans are not too risky.
HBR
DELT if they can hit a discovery
KIST
Check out Oilman Jim's Newsletter for all things oil

https://oilman.substack.com/

KLAIN: 'NEXT SALE FROM US STRATEGIC RESERVE TO OFFSET OPEC'S CUT'

Let's drain the whole thing by November'

https://twitter.com/zerohedge/status/1574360006551650305?cxt=HHwWgoC-sbWFoNkrAAAA