Malcy's Blog28 Jul 2020 00:27
Hurricane Energy
Another Lancaster EPS today and the company states that ESP’s have been commissioned on both Lancaster wells, the 6 well has been returned to natural flow and the 7z well is continuing to use the ESP. Oil production has increased from c.15,000 bopd to c.17,000 bopd as oil and water production from the 205/21a-7z well has stabilised, the 17/-has stabilised with the 6 well producing 12/- b/d and the 7z well 5/- b/d with a 53% w/c.
Whilst there is still a way to go before the ongoing geological and technical review is completed and production guidance is reinstated, I remain confident that with its low break-even price and weighty production the share price at below 6p is clearly not in line with any sort of realism…