Member Info for somm

Say 10 days to bring each well in line - 6 months.

Some workover wells may produce 10-20 bopd some better, but looks like better techiques are being applied from the initial well production 76 bopd - or is that down to a better pressure build up from 2013?

Thanks for that info C.C.

‘’Hurricane remains in positive negotiations with Bluewater over alternative extension options that would allow production to continue beyond June 2022’’

‘’Hurricane continues to evaluate options to bolster production from the Lancaster field, in addition to engaging with GWA stakeholders on possible pathways towards development for the Lincoln discovery’’

‘’The Company continues to engage with the Joint Venture, and OGA, on the most appropriate timeframes for future GWA activities’’

And here we have it at last! Confirmation that they WILL be able to fund any shortfall of the bond – I as I and other have being saying for the past 12 months.

This is the BoD acknowledging they got it wrong and we’re very much on our way to financial stability – then we’ll get more than just a bridging loan but new financing for a new Lancaster well and Lincoln Well to boot later on.

‘’Whilst there remains uncertainty if the Company will have sufficient net free cash to repay the Convertible Bonds, the board of directors are optimistic that even if a shortfall remains it may be possible to bridge the gap’’

GLA

They're currently using the G40 rig on the A8 Well.

They will be using the RT50 rig to drill the 802 Well.

RT50 Rig looks more powerful, which rig are you referring to that could do it?

''Drilling is now complete at Well 153, the second horizontal well, which is now being tested.''

They're letting us know the 153 Well has completed the planned 200m horizontal drilling safely and they're now testing the well - news next week. imo.

What is a bit odd though is this bit:

''Drilling will continue for the time being towards the original total depth of 5,300 meters. Once the drilling has stopped we will look to test each of the new intervals detected.''

''For the time being''? / ''Once the drilling has stopped''?

This Carverspeak indicates to me a couple things: either they don't expect the A8 Well to hit TD (for the time being comment doesn't make me feel confident the drill will hit TD) - and why say ''once the drilling has stopped'' why not say ''once the drill has reached TD'' we will go back to test the 4 intervals?

I mentioned before the drill speed has slowed to approx. 9m per day.

Could C.C. be right in that the rig isn't powerful enough to drill to the planned 5,300m TD and therefore it's slowing down and unlikely to drill much deeper.

If that's the case then news may be out sooner than the expected 3 more weeks to TD and IF they don’t hit TD the next RNS will be about testing the 4 intervals – maybe 5 if they drill deeper.

Who knows maybe they will hit their Primary Target much deeper down, I certainly hope so.

May be Dr. Livingstone I presume and may be if the they don't find him they'll find him on their second way down to the Devonian (801 Well) later this year?

Sorry caught CASP fever from C.C. & K.K.

C.C.,

We'll have to agree to disagree mate.

When you see million+ traunches being sold at double digits+ who that be? The rig seller oh hang on he'd have sold out by then and lost out on millions, chuckle.

Divemike,

Not a chance mate imo.

less than £2k a day of $750k worth of shares? The rig seller will be in it to the end or at the very least double a digit share price at worse, they know the potential here.

All these small sells are PI's moving funds around - no doubt to pay for their Allegro repairs, chuckle.

rhertig,

Yep, that's where my thoughts are re TO/Partner IF the A8/ 801 Wells flow in the Devonian etc. then I'm pretty sure the Majors will approach CASP with an offer.

With regards to the current A8 drill speed now averaging around 9m per day (much slower now than before) it reflects the A5's drilling speed of around 7m per day they'er estimating (3 months to drill 650m) so must be hard work down there - please no more blockages.

So I recken they're really taking their time with A8 well to get it right this time.

The 144 Well being redrilled had a high water cut - they'll likely be drilling horizontally at a shallower depth away from the OWC and we get more oil than before.

Wonder if they'll have new pipes to start redrilling the A5 Well this month?

This RNS was all about the A8 Wells progress and the 153 Well having hit TD with neither having any problems thus far. imo.

As I've said for the past month by calcs the 153 Well would be testing this week and news out next week, got to be testing something 600bopd? Bang on!

Also A8 by my 20m per day drill speed guestimate would have meant TD next week, but it looks like they've been drilling around 10m per day so I reckon another few weeks to TD and then add on the initial 5? day flow testing.

4 intervals averaging 22.5m each - whats the net pay? If all flowing oil they could mix these 4 intervals into one flow rate, happy days.. Devonain looking to be a winner.

All in all we're pretty much on target with the 153/A8 Wells.

A8 Well finding live moveable oil at 5,300m and boooooommmmm - that's not a ramp that's a fact.

KK,

Having been invested in oil companies for many years and met many of the worlds higher hierarchy of the Majors I assure you the initial discoverry well will have a very consevative RF number around the 9%-16% mark.

Like I said it will take many appraisal wells and years of production to increase the RF number to 30%+ - plus you have to leave that RF increase to the takeover company to add value for themselves.

Big fields keep getting bigger and if the Devonain proves to have live moveable oil it will take billions of dollars to extract the oil over many years.

Guys, come on you know if I were to really ramp our lovely CASP I would have used KK's 40% initial RF number lol!

I suggest peeps re-read my maths as they're spot on IF there's that much oil in the Devonian - I only based the 58kmsq field as ONLY having 1 billion barrels of oil in place - what if there's 10 billion barrels of OIP?

Let's hope it's note a duster/ blocked.

See you neeext weeeeek folks ddd ddd ddd ddd beep! beep!

KK,

Forget all that.

Focus on OIP numbers if the Devonian comes in and will need many appraisal wells to add up the billions of OIP across 58kmsq!

So if we concentrate on just 1 billion barrels of OIP, which will need the Recovery Factor proving up over time/production/ appraisal wells.

1 billion OIP * 15% RF = 150 million barrels recoverable * $50 net proft on = $7.5 billion / 2.1 billion share = $3.57 per share * GBP 0.8 = £2.86 per share at 100% full price.

Half that for early years.

Utility,

See my post at 10:39

''350 bopd * $50 pb net profit * 30 days = $525,000'' (less three 0" typo)

Try learning to read you illiterate waste of space.

Utility, not only are you thick you can't read.

Utility are you thick?

Can't you add up?

Chablard, I won't as it's only a poxy £200K per 2p to me.

Diggittt,

Lol!

Yes $525K per month net profit for oil revenue, but you knew that :- )

Though remember Argentina pay nearly the full wack of the current oil price and sometimes more!

Ultility,

350 bopd * $50 pb net profit * 30 days = $525,000,000 per month. I.e. ECHO's shre of the CL costs then add on all the net profit for their gas sales.

Please try keeping up mate.

Digitt,

60% of the costs are covered by our partner, not sure if our 40% has be paid before or after. I thibk someone said our cost was $500K.

Our 350 bopd net revenue covers that cost easily in one month.

CL needs testing asap.

If CL is none commercial then MA could pick the share price back up if the sp were to drop on poor CL results.

No point seeing the share price 2p+ only to see it fall later on the back of CL having a poor test result, get the testing out of the way so we know if it's a commercial discovery or a duster so we can move on to MA.

As I've said before a few barrels being added here and there are not going to light the touch paper, the boarder is opening 1 November and we shareholders want to know its going to be tested before year end.

They've had nearly two years to organise testing so no more delays/ excuses for the Specialists to be here in November.