Member Info for Slift

Yes, this should re-rate to 245p according to a well known site. Ask Elementary, Tuxedo8, eurofil, Dickbat, y11-shx, etc. all about it!

https://simplywall.st/stocks/gb/energy/aim-hur/hurricane-energy-shares#valuation

"wtf are we doing giving freebies away and lending an ear to Slift?"
Inconsistent statement. No comment.

Why do you always bring me to your posts?!

Yes, Bring on the operational update with 29% watercut and production at 11.6k!

Ofcourse pure guesses!

Yo Buckles,
Surprised you're still invested! What's keeping you in?

taken*

Would be interesting to see FY20 balance sheet following today's RNS.

The current balance sheet (HY20), takes into account "the best estimates" considering if water injection was successful.
With diminishing reserves with production, I wouldn't be surprised to see negative net assets. That is.. if they have take away the additions to balance sheet from water injection.

Regarding Tullow's Ghana assets, ofcourse the assets are great.
I've always held the view that developing the Ghana assets to get out of debt was the best strategy forward following the downturn in 2019.

However, EG assets are equally as good (and definitely better than developing Kenya or developing exploration assets).

14% of STOIIP production is low, but fields become mature around the 20-25% mark. Obviously, Tullow can produce more oil should they wish, however OPEX will just increase.

By 2030, The Ghana fields will have mostly depleted of recoverable resources at very LOW OPEX costs. So what i'm saying is, Tullow needs something to replace Ghana by then. We'll see what happens between now and 2025!

I do hope Tullow succeeds, and will look to getting back into the company should the opportunity arise.

MarcelKrell,

Yes, I agree. However, majority of getting Tullow's debt under control is done. All that's left is a restructure and refinance of bond(s) and possibly RBL too - which following what's been said and provided, is a given.

I agree that there is share price potential as debt is paid off between now and 2025 (enterprise value is added to market cap as debt is paid off), but during this time, there is little potential to grow.
It's just a shame really as Tullow was always my #1 pick until the recent sale of producing assets (especially EG assets).

For a company of that size, future oil finds (minus Suriname Block 47) will not be significant due to the forseeable farmdown in exploration assets. But we'll see what Tullow does farm down and what sort of oil finds Tullow achieves.

As for Block 47, the ongoing drilI is important, not just for oil discovery, but for Tullow's other assets. I think a duster @ Goliath Voltsberg North will be very disappointing. I see Block 47 as Tullow's most prospective license in Suriname. It will be a shame should Tullow not find oil here. But hopefully they will.

Ofcourse ECO can wait, but I have a holding here for the forseeable future. I'm not fully invested here, but like to have this in my portfolio.

adoubleuk,

Good to see you're doing good!

I agree that there's a high chance for HUR to just pull the plug and end operations when well becomes uneconomical or when AM ends first option contract (whichever comes first).
Personally, rather than wasting more of shareholders' money, that would be the best option considering the board are still can't seem to make a decision.

At the projected oil production and oil price, HUR should have enough cash in the bank to pay *majority* (if not all) of the convertible bond by the end of the year.
The licenses and assets should then be sold (if not before end of period) to further fund the remainder of CB and for shareholder returns.

I'm sure someone bigger or someone more experienced than the current BOD will be able to make better use of HUR's assets.

The delays in drills has significant impact here. HUR would possibly need a miracle and a lot of money to rebound from this slump in 2022 otherwise.

ALL IMO.

AM is 3 years initial period btw, ending end of 2021.

HUR have an option to extend another 3 years to end of 2024, then a second option to extending further until end of 2028 (which was meant to be full field development)

Better hold your daddy's hand and put more money on here via CFD's.

You might aswell be a betting man. Off you go to plus500.

yes fandg2,

Talks with "stakeholders"
AM Renewal info?
Lincoln Tieback or P&A?

Yo "my dad was an oil man",

Do you know what will happen if HUR farmed down Lancaster?
Answer: Working interest production falls --> less money --> rip bond

Where are they going to get a rig for a new well and how much is a new well going to cost?
Answer: No rigs available in 2021 (esp summer) for UKNS. A new well will cost more than $60m.

Everything can change very quickly, including the price of oil you say. What about production amounts?
Answer: Reducing day by day, so any increase in oil price offset. That's not accounting for any oil price falls.

Much higher share price next year following this? Tell me another joke.
Next year HUR will be producing less, and if oil price doesn't keep up, will be on brink of defaulting to not be able to pay the bond. Worst case, HUR consolidates shares and dilutes the bond, no change.

Dickbatters,
Listen to yourself. Do you not read the RNS?

HUR wants to do BOTH water injection + sidetrack next year. That's $135m.
Good luck pulling $240m out the bag between now and next year to both do the FWP and pay bondholders.

Idiot. Dilution is now more than ever on the cards should HUR wish to continue operating.
Only a takeover will save this company from dilution.

Yes Jonno.

Elementary is typing cr**!

What I don't understand is, what are they going to provide in the CPR if they are unsure about the forward work programme?
As a best guess, i'd imagine that the CPR will take into account side track + water injection.. but following today's RNS, this work programme is raising questions whether they'll even go with it!

Elementary doesn't understand anything. HOPE doesn't make shares rise people.

P.S. Where's Dickbatty?

y11-shx,

How is it not green at all. The company has net zero carbon emissions and are distributing LOCALLY.
In fact, I wouldn't be surprised if the company is carbon positive following the planting of the trees last year.

Lol... If sidetrack of well 7 is difficult to do in 2021, why not get the water injection completed this year?

As Elementary pointed out yesterday: "Time is precious".

Bunch of fools lying to shareholders, and a bunch of sheep following these BOD.

Apparently significant risk to drill sidetrack in 2021 following months and months of planning and hardship for shareholders following the kitchen sink.

But should be good to drill the same sidetrack in 2022 with little risk!

What a bunch of distractions and lies.
No hope here sadly. Only takeover left.

Incompetence of board, kick them out!!
What has Maris actually achieved in the past 6 months??? So much of fractured basement experience..

Another year to milk shareholders to fill their (directors') pockets via salary.
That's what's really going on.

It's over. I don't believe Lancaster will hold up until summer 2021 at economical rates. All depending on oil price ofcourse.

"drilling in 2019?"
*In 2020