We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Hurricane Energy Plc | LSE:HUR | London | Ordinary Share | GB00B580MF54 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 7.79 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMHUR
RNS Number : 6012P
Hurricane Energy PLC
18 November 2016
This announcement contains inside information
For immediate release: 18 November 2016
Hurricane Energy plc
("Hurricane" or the "Company")
Award of P2308 licence
Hurricane Energy, the UK-based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, is pleased to announce that it has been awarded the P2308 licence ("Halifax") by the Oil and Gas Authority in an out of round application. The licence is contiguous to, and extends north east from, Hurricane's existing Lancaster licence.
The recently drilled Lancaster Pilot well (205/21a-7) encountered a minimum oil down to (ODT) of 1,620m TVDSS, indicating that the Lancaster oil accumulation is likely to extend beyond the Lancaster licence boundary. The Company believes that if mobile oil can be demonstrated outside of local structural closure at Halifax, then the Lancaster Field could extend further north east along the Rona Ridge.
A previous well (205/23-2) drilled on the Halifax structure encountered oil and gas shows in sandstones immediately above the basement. In addition, Hurricane's analysis of basement cuttings from the 205/23-2 well indicates the presence of oil thus mitigating the oil charge risk to Halifax. Seismic interpretation indicates the presence of a well-defined fault network within the fractured basement of the Halifax Prospect, analogous to that seen in Lancaster.
Recognising this, Hurricane has identified a well location on Halifax (the "Halifax Well") and acquired a site survey over the prospective well location in preparation for the drilling of an exploration well. On the basis that permits can be obtained in time, Hurricane intends to drill the Halifax Well immediately following the Lincoln Well. Hurricane has extended the date of its second well option with Transocean until 25 November.
A map showing the new licence area and a 3D depth surface of the Halifax prospect indicating its relationship to Lancaster, can be found on the Company's website at www.hurricaneenergy.com.
Halifax, in common with Hurricane's other licences, is 100% owned and is an Innovate Licence. The work programme is broadly limited to the drilling of a well which would be satisfied by the drilling of the Halifax prospect.
Dr Robert Trice, Chief Executive of Hurricane, said:
"The Halifax prospect is an extremely exciting opportunity for the Company and a logical target after this year's drilling success at Lancaster. Our exploration objective is to demonstrate that Halifax is analogous to Lancaster in that the reservoir is highly fractured and that a significant hydrocarbon column is present outside of structural closure. If we are successful in this aim, then we believe it will be a significant step in establishing the true extent of the Greater Lancaster Area. This would not only be tremendous news for the Company but also for the UK's oil and gas Industry."
Contact Details:
Hurricane Energy plc Dr Robert Trice, Chief Executive Officer Alistair Stobie, Chief Financial +44 (0)1483 862 Officer 820 Cenkos Securities plc Nominated Adviser and Joint Broker Derrick Lee/Nick Tulloch/Beth +44 (0)131 220 McKiernan 6939 Macquarie Capital (Europe) Limited Joint Broker +44 (0)20 3037 Alex Reynolds / Guy de Freitas 2000 Vigo Communications +44 (0)20 7830 Patrick d'Ancona/Ben Simons 9700
About Hurricane
Hurricane is an oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs. The Company's focus is to discover, appraise and develop oil reserves in basement rock. Hurricane has already successfully discovered substantial volumes of oil on the UKCS. The Company has 444-470 mmboe of 2C Contingent Resources and 432-442 mmboe of P50 Prospective Resources on acreage it controls 100%.
Further information on Hurricane can be found at: www.hurricaneenergy.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCAKFDBNBDDODD
(END) Dow Jones Newswires
November 18, 2016 08:29 ET (13:29 GMT)
1 Year Hurricane Energy Chart |
1 Month Hurricane Energy Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions