Member Info for schlemiel

In two weeks time the entire company equity will be attributable to the shareholders rather than the creditors. It's a unique position for HUR to be in.

On what date will free cash at bank exceed the company's entire market capitalisation? There aren't many oil companies in that position of gold plated financial status

Yes

It's all looking very, very promising indeed

Lancaster Field Operations Update

The following table details production volumes, water cut and minimum flowing bottom hole pressure for the 205/21a-6 ("P6") well during June 2022.

June 2022 Lancaster Field Data


P6 P7z(1)
O il produced during the month -
(Mbbls) 256
------ -------
Average oil rate (bopd) 8,527 -
------ -------
W ater produced during the month 214 -
(Mbbls)
------ -------
A verage water cut(2) 46% -
------ -------
Well gauge p ressure (psia)(3) 1,564 -
------ -------


1. The 205/21a-7z ("P7z") well was not on production during June 2022

2.Expressed as total water produced divided by total fluid (oil and water) production

3.Pressure reported is the monthly minimum from well downhole gauges.

As of 16 July 2022, Lancaster was producing c.8,650 bopd from the P6 well alone with an associated water cut of c.46%.

There was no lifting of Lancaster crude in June. The next cargo is anticipated to be lifted later in July 2022.

Financial Update

As of 30 June 2022, the Company had net free cash(4) of $127 million compared to the last reported balance of $139 million as of 31 May 2022. $78.5 million of Convertible Bonds remain outstanding and are due to be repaid by 24 July 2022. Following the repayment, assuming oil prices remain at over $90/bbl, at the end of July the Company is forecasting to be holding net free cash in excess of $75 million. If oil prices for the July cargo are above $110/bbl, the net free cash forecast increases to be above $85 million.

4.Unrestricted cash and cash equivalents, plus current financial trade and other receivables, current oil price derivatives, less current financial trade and other payables.

Following the repayment of the Convertible Bond, the Company intends to reduce the frequency of its production and financial updates to quarterly rather than monthly, being more in line with standard industry practice.

Antony Maris, CEO of Hurricane, commented:

"With another steady month of production, we now look beyond repayment of the bonds with a strong cash position and balance sheet. We believe that there are good investment opportunities ahead and the Company is well placed to deliver significant shareholder value."

From a HUR release dated 30-Apr-2021 : This was from Maris with regards to the filthy, criminal scam 'financial restructuring' to save the company from bankruptcy

'(The Company will pursue a revised business strategy which contemplates (i) an extended
production case (which would see production from the Lancaster 205/21a-6 well (the “P6
well”) continue until its economic limit is reached) and (ii) if supported by the Bondholders
in the future, an opportunity for subsequent investments in the Lancaster field (notably a
potential P8 production well drilled during the summer weather window in 2022)'

https://www.hurricaneenergy.com/application/files/3316/1977/0682/20210430_-_HUR_RNS_-_Financial_Restructuring_vF.pdf

-

So the future for HUR was already been set out last year. I don't see why considering the company is now awash with cash that the plan from last year should not now be implemented immediately....

There's no need to formulate a new plan of action as Maris and co did this last year...

Environmental campaigner Joe Biden demands Saudis up oil output to bring down oil price so that that American users can consumer more at lower prices that increases their FF emissions...two faced hypocritical turd

Blas's view :

'After listening to both sides now on-the-record, I reiterate my views from this morning.

Four important points:

1) no increase announced today
2) but more oil will come in weeks (in small increases)
3) Saudis stick to OPEC+ (that means Russia)
4) Big Saudi geopolitical win

Quote Tweet
Javier Blas @JavierBlas
· 11h
BIDEN IN SAUDI 1/6: US President Joe Biden lands in Jeddah later this afternoon for a two-day visit. Based on conversations with officials, I do NOT expect that Saudi Arabia (or the US) will announce an oil output increase during the July 15-16 visit'

https://twitter.com/JavierBlas

SQZ is North Sea..there is no way they would refocus from NS over to Morocco

CHAR's price strength is superb

From Shrewmole on ADVFN - He's a premum member so not a muuppett

'Pi’s being shaken out.

The 350k at 6.25 are mine. Paid a premium at the time but they posted it after moving the price up and shown as a sell.

My broker said plenty bidding for stock very little offered.

A week from now will be a different picture.'

https://uk.advfn.com/stock-market/london/greatland-gold-GGP/share-news/Greatland-Gold-PLC-Update-on-Havieron-Consideratio/88593154

Greatland Gold plc

("Greatland" or "the Company")

Successful renegotiation of contingent consideration due under original 2016 Havieron acquisition

Vendor has agreed to a two-year restriction on dealing with the Greatland shares to be issued, reflecting their support for Greatland and conviction in the Havieron project

Reduction of 4.5% in the number of Greatland shares to be issued

a saving of over 6.5 million shares

Greatland shares to be issued by 29 July 2022

Greatland Gold plc (AIM:GGP) is pleased to announce it has successfully renegotiated its obligations with respect to the contingent consideration due under the original 2016 acquisition of the Havieron project.

The requirement to pay the contingent consideration, in the form of Greatland shares, remains from the highly value accretive acquisition by Greatland of Havieron.

The consideration for this 2016 transaction comprised an initial payment of AUD25,000 in cash and 65,490,000 new ordinary shares and (originally) a further 145,530,000 new ordinary shares conditional upon Greatland's ownership interest in Havieron reducing to 25% (or less) or upon a decision to mine at Havieron (whichever occurs earlier). This latter tranche of shares (modified as described below) will be issued to the vendor's nominee, a private Australian investment vehicle, Five Diggers Pty Ltd.

In return for removing the conditionality on the contingent element of the consideration, the following modifications have been agreed:

nm

Update due probably tomorrow or early next week if the pattern of previous months is repeated.

The fact that the watchdog even takes these malicious accusations seriously is troubling. This watchdog should be issuing warnings to those who use such tactics not investigating companies who are victims of such political shenanigans

End of July, focus on the building and ever growing cash pile...not far now even if oil price is looking shaky with that bullssshtting climate change tossssser from Washington crawling over to see the Saudis begging them to pump more...one minutes he's a fully paid up member of Greenpeace, the next he's Paul Getty...rank hypocrisy

I don't believe Chariot will be the company taking Anchois to production....Cenkos pointed to the biggest threat to Chariot as being 'corporate action' ie a bid

Another North Sea M & A. Hurricane's heading in the same direction. Indeed the lack of volume and price movement could suggest some sort of deal may be in the offing but then god knows......

with the usual caveats

taking advantage of the new EPL rules