Member Info for Slift

Ricardo2019,

Exactly. This is why HUR is a VERY risky investment.

The production of oil is LIMITED by several factors, not just one factor.
- Coning of water (this leads to increased water production per oil production if more fluids are to be extracted)
- Borehole pressure nearing boiling point (This will further reduce oil production as the well reaches nearer to the boiling point pressure)
- Fluid capacity at FPSO for future wells and works (35k bopd max as it stands)
- Economic limit (If oil production drops such that it becomes uneconomical to operate)
- Flaring limits (If boiling pressure rises such that the production is producing gas beyond limits to flaring)
- etc.

There's just too many uncertainties that people are relying on. There's even risks with the forward work programme. If either one fails, then game over for HUR.
Sidetrack:
- Chance of success of this well?
- Will the well be profilic such that it would provide enough flowrate to replace well 6 and to keep Lancaster economical?
- etc.

Water Injector:
- Chance of success of this well? (i.e. will it provide the boiling pressure support required for production wells?)
- Will implementing this injector "sweep" the oil from sandstone into production wells?
- Will AM water injection capacity provide the pressure support required? (AM water injection limited to 55k bwpd, depending on water production)
-etc.

Sure, but look at production.

Q3 2020 - oil produced 13600 bopd
Q4 2020 - oil produced 12700 bopd
Currently - oil produced 12100 bopd

Ofcourse you can "stabilise" watercut by reducing production. But that'll only work until economic limit is hit and it's not helping cashflow.

Biggest *******s regarding "watercut stabilised".

December 18th Update:
"The 205/21a-6 well is currently producing at c.12,300 bopd on artificial lift with a c.23% water cut."
https://www.lse.co.uk/rns/HUR/operational-and-corporate-update-y7wscaelc7jfxrg.html

Jan 14th Update:
The Lancaster field continues to produce from the 205/21a-6 well alone, with current production of c.12,100 bopd on artificial lift and a water cut of c.25%.
https://www.lse.co.uk/rns/HUR/trading-and-operational-update-newy0lcuqbns0lk.html

December 18th:
Approx. 12300 barrels of oil/day produced and 3675 barrels of water/day produced

January 14th:
Approx. 12100 barrels of oil/day produced and 4025 barrels of water/day produced.

1. Following the company
2. Providing facts to new investors so they aren't deluded by the posters constantly trying to mislead with ramps to 30p
3. To laugh at Dickbat

Yeah it's great VigoVigo1,
Huge potential there.

Though, I'm not heavily invested there, missed my chance.

"Slift
Posted in: HUR
Posts: 1,957
Price: 2.75
No Opinion
RE: Placing18 Dec 2020 13:59

Gino2903,
No target price.
Won't touch this at all with the current circumstances."

Nope, will not invest here at all.
Even with a funding agreement, I see substantial risk to FWD.
There are better companies out there, and if you wanna bet on oil, Tullow or maybe Enquest (depending on forward strategy) would be a better investment. Heck even Anthony Maris' former company: Pharos Energy would be a better investment.

Nice post DifferentAngle,
Shows how deluded you are.

Here's the actual breakdown for FCF:

Free cash as at 1st April: $129m
Sometime early in 2020, long lead items were ordered: $20m
October: $21.7m moved to restricted
So accounting for this, FREE CASH was at $87.3m in April 2020.

End of year 2020: Free cash at $106m
So FCF for 9 months to end of year from 1st April = $18.7m

noelpbz,

Yup, that's what I think also. I had $5-8m depending on amount offloaded and price they had received.
At best (assuming that offload was December + some of November) = c. $8m positive cashflow.

The rest of cashflow = Receivables as the year has come to a close.

Wow, someone else that's not deluded on this board! Welcome.

Correction.
"My estimates based on projected average oil price and production is c. $200m positive cashflow for 2021."
c. $200m based on current oil price, with every $5 adding or substracting c. $100m cashflow.

Jubileey,
Your figures are all over the place and completely wrong.

I agree with Moodys' figures on breakeven and production.
They are not wrong to say that projected cashflow being "broadly neutral" @ $45/barrel average.
Obviously, yearly average for oil price will be higher than $45/barrel.

My estimates based on projected average oil price and production is c. $200m positive cashflow for 2021.
But this may change as projections around oil price and productions vary through this year.

As for liquidity for RBL..
Yes, oil price has influenced it, but I still see a shortfall if Uganda FID does not provide that extra liquidity.

Laurenti,

All you've done is brag about your gains.
Can you post something that will provide value here instead of complaining about those that do?
I'm okay with "waffles about pizza" as long as the same person provides valuable to this board in another post.

You on the other hand..

- Production decline
- Water cut increase
- 7.9m barrels reserves left (subject to economic limit)

= Positive RNS????
Lol

LOL 4 posts in a row.
You definitely do seem upset.

Try the chat filter if you're that upset lmao.

Yes, ofcourse i'm going to be toxic on a board full of toxic PI's.
Dickbat started the point scoring, so ofcourse i'll keep at it.

You seem upset.

Just a repost on this drill and Block 47:

Drilling will likely spud in Jan/Feb 2021, and will last about 2 months.

Goliathberg-Voltzberg North:
- Targetting dual targets in the Cenomanian and Turonian ages (Cretaceous)
- Depth of drill: Approximately 1900 m water depth, with total depth of 5400 m.
- Cost of well: Approx $55m ($27m to Tullow at 50% stake)
- Prospective Estimates: Highest - 938 mmboe, Best - 235mmboe, Lowest - 35 mmboe
- Chance of Success - 34%

Strangely enough, Tullow has better prospects in Block 47, namely:
- Goliathberg-Voltzberg South (37% chance of success, 3 targets, 368mmboe best estimate)
- Bernau G (33% chance of success, 3 targets, 324mmboe best estimate)

But supposedly the North well will provide more info about the area and may de-risk the other blocks/prospects.

Either way in total, Block 47 has prospective resources of 133mmboe to 4300mmboe with the best estimate being 927mmboe.

lol, imagine depending on oil price to bail out this company.

At current oil price, still a dilution.
Maybe you should do some research and calculations.

Don't worry Dickbat, i'll laugh at you soon enough.

1nvest,
I believe known sandstone resources from 2017CPR are included in the current resources. However, the board believes that there could be more resources within the sandstones, which is what they are/were evaluating but has yet to provide us any detail of. The CPR will provide more info.

But there is currently no access to sandstones from well 6, and sidetracked well will not have access to sandstone resources either.

The water injection well however will be implemented such that it "sweeps" oil from sandstone so that it can be produced by existing wells. The injection will add reserves, but not the sidetrack.

The sidetrack is required to be a going concern as the water cut in well 6 is increasing. The more the watercut increases, the more BHP lost to maintain production.
Too many aspects are against HUR. "Significant risk" is an understatement.

"Just need further reserves to put 2021 into a transformative year rather than share holder annilation."
No further reserves in 2021 unless added from Lincoln.

Lincoln P&A in the first half of this year.

Dickbat,
Your words, not mine.

"Slift go run alone... your inexperience in oil and gas and and utter contempt and bitterness for this company shows through I suggest you write your long winded post on the company’s you have your clever money invested in sorry short term traded on !! instead of making yourself look a bigger fool on here... if it fails which I don’t believe it will you can laugh and gloat as much as you like and if it succeeds I would take great pleasure in reminding you..but I doubt I will care I would be to busy counting my patient gained whilst you trade in and out for your 10%"

hasiba,

No, I don't believe that HUR has turned a corner.
Not until the finance is agreed.
I disagree with HUR being among the best recovery oil stocks.
HUR has and depends on one well and will continue doing so until 2022.

But i'll stay here until finance update so I can laugh at Dickbat. Dickbat wants me to do so.