Member Info for senseman

Putin podcast to russian industry on sky news - world is wrong and he is right - insane barking mad drivel from talking polished turd in a suit. new law tomorrow saying all gas must be paid for in roubles

true, 1 mill a day for up to 180 days

the us maybe releasing 180 mill barrels from strategic reserves has cause today's brent crash, shame we couldn't last out the last day with this hit as i think last 5 days would have been $110+ average. still, better were hit one day not five.
then it's down to praying 180 mill barrels works it's way through before next offload month comes round
usa has 570 mill barrels strategic reserve, so 180 is big hit it won't want to replicate

Brent creeping back up from low start. Now $110
And more sanctions needed to stop the pig
https://oilprice.com/Energy/Crude-Oil/Sanctions-Or-Not-Putins-Oil-Fueled-War-Chest-Continues-To-Grow.html

https://news.sky.com/story/licence-for-controversial-cambo-oil-and-gas-field-in-north-sea-extended-as-uk-backs-domestic-supply-over-russian-fossil-fuels-12578166

i think there is fair chance CA may revisit the 'scam' issue if and when new management in place. both as matter of principal, and because HUR held company insurance. so insurer likely to cut a deal in claim against previous HUR BoD issued

Dalt - that was what I also have always thought. does anyone know what (if any) early termination 'key money' BW currently hold in escrow of HUR cash relating to existing contract?

and of $18.7 mill required for BW, circa $13.5 mill still belongs to HUR. ie it is 75K x 180 days 'key money' security to cover 6 months termination period

quite agree Andy.
CA have 18 months to exit which is a good length of time. long term high Brent will have cheered them up and provides more confidence and leverage on all fronts. i think their next sequencing targets will be management and new partner. with AGM due late june, that is why i see july as good time to assess where we really are. by then there will also be a solid chunk of cash in the bank

Andy
you can add at least 12 months to the 'at least' 18 month BoD prediction due to slower than expected bpd depletion and higher brent (+$80). at brent $110 you can add a likely further 18-24 months till feb 2026. moody maris chose not to highlight this
the most secure way for HUR to (i) protect growing cash in bank (ii increase production, is a farm-in partner with deeper pockets - the deal being the new partner pays all new well/current well(s) remedial costs, and production profits from these new endeavours being split (say 50-50 or whatever agreed equitable). HUR provides acreage, license & Aoka Mizu, new partner provides exploration/remedial cash. with new long term high Brent prognosis and low OPEX, it's sweet deal for both HUR and new partner. that is what i would be looking at, and i hope CA are

noel - figures mean HUR net monthly cash profit should add 1p per share per month to SP on a do nothing further basis

noel - very helpful. shows how important next few months are in getting a few more things sequenced and cash in bank so that HUR starts becoming viewed as a 'normal company and P/E kicks in. And also the value of having zero debt

https://www.bbc.co.uk/news/uk-scotland-scotland-business-60907660

flynchy - yes, till dec 23 is decent timespan, and high Brent will enable CA to telescope their SP enhancement plans into shorter timeframe. To extend beyond dec 23 if needed would just need their SHs agreement.

pete - it was already $60 june 21 court hearing as vaccines already winning in grand style. but feckwits so greedy they wouldn't give up the ghost

Divey - I share your angst. But know this - before we had to fight like dogs for survival. Now all we need is patience. Experienced CA know this, most overstressed SHs know this but are not receiving salaries to enable them to be 'chilled'. Make no mistake - HUR WILL SOAR AGAIN!
Forgive me getting off my chest something the canaries will no doubt sound off about again and which repeatedly pees me off - the fallacy that HUR has been 'saved' by high Brent. B*llocks!
1. HUR SP minor- crashed due to poor drill results. So what, PoO $70 and drill a few more to recover. Normal exploratory hiccups.
2. Covid craters PoO - $20, then to -$0 giveaway. So what? - HUR at circa $20-$25 extraction will survive. Vaccines always win - Covid time is limited - bond repayment NEVER in doubt - and if so can by back at 35c in S - with $70 in bank to buy, problem solved
3. Vermin feckwits try steal company via $17 mill worth volumes of drivel/ misinformation. Feckwits f'cked by CA & SHs

Covid destroyed oil price and vermin feckwits tried to steal HUR on back of this. But village idiot could see Covid & low oil temporary - and oil price would rebound utra-high as markets recovered
The ONLY 'lucky-bone' thrown HUR is Ukraine war. In light of being '2 lucky-bones down' (ie Covid + attempted scam), by my reckoning HUR is still 1 lucky-bone down on the deal

https://www.energyvoice.com/oilandgas/north-sea/rigs-vessels/398354/hurricane-energy-agrees-charter-extension-with-bluewater-for-the-aoka-mizu-fpso/
'troubled North Sea oil firm.....etc...'
it took vermin just 6 months to nearly destroy HUR - will take just a tad longer before lazy imbeciles cease wrongly printing the 'troubled' moniker.
tomorrow is another day - our beautiful Phoenix with powerful wings today , just having little sleep - HUR will be fine
Slava HUR, slava UKRAINI, f*ck vermin

Forgot - between now & June/July I expect SP to rise organically in any event as rising free cash sum & management changes return market trust in HUR

Last June I opined we would see $80 Brent by Xmas & $100 Brent Q1 22. And those in at +40p with neither funds nor will to input further funds to average down should not despair as recovery to 40p was not a fantasy, but possible. I opined this believing 2022 would see a supply shortfall on account of post-Covid market recovery & curtailed exploration budgets
Brent broke $80 late Oct & $100 end Feb. My view re 40p SP possible remains, & now in shorter timespan due to Ukraine.
We are highly dependent on 4 things:-
1. Brent price post-hostilities, when we see what premium market has added for long term Russia oil loss.
2. Brent price when pre-existing supply shortfall expectations begin to impact (1 & 2 related)
3. How long China Covid lasts.
4. When CA choose to exit; what has been put in place pre-exit; & company quality into whose hands we are delivered

Should Brent eventually settle at +$120, and CA sequence 2-3 more recovery steps to raise SP before actively seeking to exit, +40p comes into range. For reasons 1-4 above I believe it will be at least July before even the whiff of a clear picture emerges. Note - IF is a big word. I do not say we will see 40p. I merely reiterate it is not fantasy, and a pathway exists

morning
i will be happy to close today with friday's late gains held. it was a 5 out of 10 RNS re a long overdue issue
kami is right - cash in bank will be driver. i would add to that ceo & cfo change. if they published a forward plan tomorrow i'd use it for toilet tissue. sod all use putting cart before horse
i'll start to be cheerful when the next (not current) offload cash is banked and the agm is on the horizon