Member Info for winalot

My order of 505k just went through at 1.15p but took all day.

As Cebo says, it is routine operations. As far as i'm aware production has resumed, the shutdown was only scheduled for a week during the first half of Sept.

A supply boat is nothing to get excited about, they are a regular thing offshore usually weekly to delivery essentials (food, materials, etc). It's a oil tanker we need, although even they don't seem to do anything for the share price from past liftings.

Our day will come some time!

I've worked offshore Shetland for over 20yrs, and still do. 60kt winds is not a storm and is a regular occurrence off Shetland during winter months. As pointed out restrictions for flying are mainly down to sea state being below 6m (for the standby boat rescue purposes for the fast rescue craft (FRC)). Wind speed is up to the pilots discretion. I've flown may a time in 60kts. Not that I'm saying it's a pleasant journey when landing!

The statement at the end of the article highlights possibilities for companies to farm in to Lancaster. BP maybe, with their close relationship with our oil offloads and the loan facility recently agreed between Hur and BP plus their close proximity of operations.

'One potential area of UK growth could be the farm-in market, where Mr Boroujerdi said taxpaying companies may look to make the most of the EPL rebates and “explore a bit more.”'

Flyingpie,

Not sure in the cost difference between fractured basement and sandstone drills but they have a similar approach.

The fractured rock is drilled into horizontally to catch as many natural fractures as they can to provide a flow path back to surface whereas sandstone is drilled down to the payzone and cased (cement), once the drill is complete and cased. Wireline re-enter the well down to the payzone with explosives and perforate through the casing at several key depths, these perforations extend wide into the sandstone and provide the flow paths for the oil to go (essentially simulating a 'fracture')

Imagine a sponge, pockets of oil everywhere and only extracted if you tap into one of the pockets, this is sandstone. Fractured basement is more like slate piled on top of each other where the oil is trapped in between each state. Drill through the middle of them all and you access all the individual 'fractures'

Hope this gives you an idea.

If the bond holders know something positive that we aren't privy to, then I can definitely see some chunky buys coming next week once their funds clear. So maybe another week of the sp being held back to get their buying opportunity then a miraculous rise from the ashes.

Imo

El19, couldn't agree more. I wish we could fast forward and just get it over with, whatever the end game may be

We know roughly CRS average, do we know Kerogens??

One has to wonder how greedy CRS want to be. Yes, they own 29% of the company but the cost of their HUR holding is circa £40M. I remember them saying a while back that to date they have released £40M profits from HUR. Based on that they're currently riding this venture for free. So they can afford to be a bit risky with their investment.

I've just emailed HUR to question why the CEO, never interviews, does he plan to do any now that HUR have turned a corner and soon to be debt free.

I mentioned that there are a lot of passionate but frustrated shareholders and that a bit of positive publicity could bring a well deserved boost to the share price but also to bring HUR to the attention of future investors.

There are a lot of positives to get out there publicly to those investors who don't have HUR on their radar; cash rich, steady stream of income, tax credits, looking for M&A, potentially field development, etc.

I also watched the interview with Wentworth CEO, KatherineRoe. Very up beat and positive, the way it should be from a CEO.

Will see if I get a response!

I would agree in saying that drilling into the sandstone would cost less and more than likely have a higher CoS (especially with the quoted figures of oil within the sandstone) So why aren't they?? Is it not possible to target both on a single drill, ie. drill into the sandstone (and perforate once cased) and continue into the fractured basement P8 target? Or even drill into one zone and pull back and kick off to the other (I'm no drilling expert, just putting it out there for comment)?

Regarding HUR talking about drilling P8 and making a decision by Sept and CRS mentioning in their RNS that they expect to pay out significantly to shareholders in Sept definitely has alarm bells (coincidence?). Is there something HUR/ CRS know that we don't?? And are HUR are just talking up a "P8 forward plan" to keep us PI's quiet for a bit until "something else materialises"

CRS are here to make money, nothing else. Personally I don't think they have any interest in P8, they have to wind up the company by Dec next year, drilling P8 next summer (and if successful) doesn't give HUR much time to build back a healthy bank balance to satisfy CRS for winding up with a decent profit (good for us PI's in the longer term), unless the share price remains high after a successful drill but do they want to risk that??

Does anyone else think that the SP is being held back until the bonds are repaid and then the bond holders can reinvest their cash buying ordinary shares? They wanted to steal the company for some reason last year, this is their option 2 for being involved & making a profit (without wearing the mask).

Based on the feedback from the AGM, I continue to have no faith in the BOD and I'm tentatively watching this space.

Just received this

"Dear Mr XXX,

Thank you very much for your email and for your questions for the AGM.

There will be a presentation at the AGM, at which many of the questions raised will be covered."

Email sent

Taking the most recent P6 well data analysis into consideration (bubble point, water cut, etc), how confident are the board that P6 well will be economical viable into 2024?

One month today until the remaining bonds are due then we can finally move on and build a better brighter future with full company control (unless the end game has a different idea, ie a takeover)

How do i vote? I haven't received any corporate action notifications from AJ Bell. Do I need to contact them first? I voted last year but can't remember how.

Yeah - lets just hope by then we have secured further reserves to produce from, unless of course HUR no longer exist having been bought out.

Surely we have to find out which path we are going down over the coming months. The AGM should at least disperse some of the smoke?

Further to that, the economic life at this oil price could be right down to 3000-4000bbls a day

Flyingpie - There is no specific end to the contract. Either party can give a 6mth notice to pull out.

From the RNS: "The charter has been extended to cover the remaining economic life of the Lancaster field."