Member Info for Slift

How can the company be bankrupt when there is no debt and when they have money in the bank?

Do explain since you're talking from experience.

What a laughable post y11-shx.
As expected from you, Mr Intu.

But sure, let's pretend and hope that production is 15k/day lol.

Until the trading update that is.. :')

slipanchor,

There's always the possibility of AM being EMPTIED for any maintenance works/shutdowns required. Sure it may be 400-450k barrels, but a lot of this would have been the leftover amounts from previous offload.

The production will not have changed, I'm pretty certain that due to the BHP and watercut management, production will constantly be reducing, at a steady state (that's what good control is).

Unless ofcourse you believe that the so called "perched water" has been emptied and HUR are able to produce at max oil again. But i'd laugh at you if you believed that :)

Idiot alert.

Production is not going to be 14.7k so you can calm down.

Deadline for Lincoln P&A fast approaching June 2021 with no sign of rig contracts to complete P&A.

Is this well going to be tied back?
Is the deadline going to be extended once more?

Even I am tempted to try trading here now.

Yo team. Relax.
Production is not going to be 14.7k lol.

Try 11.7k average at best.
I'd imagine with the sidetrack deferred, current production will likely be reduced significantly to preserve BHP and to manage water cut to allow for economical production for another year.

Joe, agree with all you've said.

"I had earlier asked what this may look like,but was disappointed that no-one was able to quantify the 'better than expected' scenario, especially given the number expecting it."

Assuming that BOTH a sidetrack and water injector is successful and assuming that AM is extended for another 3 years, I have an estimate of 18m barrels reserves for CPR as best case.

Based on 11k avg 2021, 13k 2022, 14k in 2023 and 2024. (Assuming sidetrack in late 2021, and water injection in spring 2022)

However, with the deferral of sidetrack, and questions about FWP going ahead, I'm unsure if there would be any/much reserves.
The deferral in sidetrack by a year would reduce reserves by maybe 2-3+m barrels (depending on how the bubble point keeps up).

As for resources, I'd be very surprised to see big resource upgrades from the FB of Lincoln or Lancaster than that which was revealed at tech review.
As for sandstones, again I wouldn't expect much. Yes there is oil within the sandstones, but not 100s of mills of barrels.

y11-shx,

At least HMI hasn't gone bust like your previous investment in intu :)

Bopd,

There was no guidance 3 years ago.

Can you provide me with an RNS or HMI related document where it shows guidance/forecast?

Or write to CA to stop being a crybaby :')

"I hope they get one of there guys in the driving seat soon."

Return of Dr Trice?

Or.. dump the shares?

https://www.hurricaneenergy.com/investors/placing-documentation

At the point where HUR ceases to produce due to it being uneconomical or other reason, HUR's assets will be valued at approx. $160m at BEST.

With bond at $230m and cash in hand at $xm at point of cease of operations (following all outstanding liabilities).

Shareholders will be left with $ym = $160m + $xm - $230m

Ofcourse the $160m is at BEST value, so probably have to factor in a discount for that too!

"Bondholders dont know for sure we wont have spent it by 2022! They have no right to the money in 2021, none at all, just the 7.5% return."

Actually, there are convenants from preventing HUR just spending the cash.
If HUR do, Bondholders have the right to default the company.

Hence why HUR need the support of bondholders for FWP, as initially the support from bondholders with their money was for the development of the Lancaster Early Production System (which has been completed with well 6 and well 7z).

When debt exceeds assets + liquidity, the bondholders own this company.

"Hold in cuts tomorrow ... opec
Brent goes to $70 ... tanker turns up...
140 million in the bank ..."

And HUR shareholders wake up.

How about £15/share since we're all in a fantasy?.

lol it does matter where the stock is listed.

I'll have you know that instituitions prefer to invest in a company taking action on climate change.

"HMI have been a catastrophic failure in obtaining significant sales"
Have you been sleeping the past few months or something? HMI beat sales forecast.

Bopd,

You're forgetting HMI is listed on LSE.
Institutions give a thought about green initiatives here.
Also, people are looking towards environmentally produced produce too!
So you should really get a move on and start farming with green fertilisers. At least then you wouldn't be complaining here about the product!!