Hurricane Energy Share Discussion Threads

[gibso6767] 12/1/2017 21:41

Re Spitsbergen costs well unless there's a load of service hands on there then daily manning costs are reduced , as will diesel i.e. No cranes no drawworks , I've seen contracts before where WOW rates where about 50% less normal rates however we don't know very much st all about our contract with TRANSOCEAN .

So perhaps they where given £££; to carry out certain operations and if successful then if in time a bonus of sorts .

But it's Winter it's WOS it's priced in .

FSA please stop scaremongering ,please stop planting the seed of discontent in fact please stop

[telbap] 12/1/2017 20:22

My guessing is that any person/corpoorate/bank/hedgefund, call them what you like , who will stick that many millions of squid into a single O and G exploration company must be pretty confident with the possible outcome. They did not amass such sums of cash easily or quickly, one would assume they know what they are doing when they invested. I am quite happy to sit on my purchase, 50p, 40p or 30p, it will come good and make me money.

[chessman2] 12/1/2017 19:01

And they originally stated they did not wish to go below 29.9%. I'm pretty sure they bought what was necessary to keep themselves at 29%.

[tiltedtrader] 12/1/2017 18:38

I'm guessing Kerogen took up enough that they remained at 29.9% after the placing.

[jacks13] 12/1/2017 18:23

I’m puzzled by the continuing declaration of 29.9% being Kerogen’s share of the issued share capital.

Kerogen first invested in May 2016 when after the (1st) Placing [rns 8502X, dated 10 May 2016] it was declared that they held 293,911,931 (29.9%) out of 981,374,774 shares in issue.

Susequently, in the November (2nd) Placing notification [rns 0966N, dated 20 Oct 2016] we were told:

‘The Company is grateful for the support of its existing shareholders, including Kerogen Investor and Crystal Amber who have conditionally subscribed for 93,017,647 of the Placing Shares to raise gross proceeds of £31.63 million . Kerogen Investor has agreed not to subscribe for any Open Offer Shares under the Open Offer in order to allow for other Qualifying Shareholders to apply for Excess Shares under the Excess Application Facility.’

So Kerogen would forgo the Open Offer element but it makes no specific mention of whether they would engage in the Placing, whereas it definitely says that CA would. It appears Kerogen did not therefore take up any Placing shares, neither have we received any notification of Kerogen adding to their May 2016 holding. On that basis a holding of 294m out of a total of 1,203m is 24.4%.
(n.b. 29.9% of 1,203m is 360m)

[laserdisc] 12/1/2017 18:18

14:52:12 late buy reported
49.50
200,018
99.01k

[laserdisc] 12/1/2017 17:12

looks to me we have 2nd ahv on its way also kingfisher bulletin not updated anchor positions

EDIT 2nd & a 3rd ahv's both gone to anchor will arrive in Aberdeen port late this evg
MAERSK LIFTER
12/01/2017
22:00 expected
PACIFIC CHAMPION
12/01/2017
23:59 expected

[control1] 12/1/2017 17:09

HUR are almost certainly paying for the rig, whether there is a weather clause concession is unknown. Don't forget Lincoln seemingly finished ahead of time though when they almost certainly allocated longer for the site so there may be an offset...?

[laserdisc] 12/1/2017 16:58

MAERSK LASER just left Aberdeen for Halifax will arrive tomorrow afternoon my guess more work on anchors I am expecting another vessel to assist but transponder off presently

[cinques] 12/1/2017 16:35

As there is a further clause for an extra drill, then any later contract with a different firm will have to wait, most likely, for Hurricane to exercise or not.

It's common that rigs are delayed on prior contracts.

[fsawatcher] 12/1/2017 16:25

when does the rig window close?

ave someone else got it booked after hur

sorry for questions but i come on board for help on info

[laserdisc] 12/1/2017 16:22

yes rig costs confidential we have a further clause to exercise 21 days after Halifax spud for a further drill

[cinques] 12/1/2017 16:19

Given that Hurricane knew that they were hiring the rig through what might be a bad weather window, I'd expect there have been some allowance in the agreement for WoW issues.

The Spitsbergen would have otherwise been tied up somewhere across the winter earning very little, so Transocean were probably okay sharing some (or a lot) of the WoW risk.

Just a view. No evidence to back it up.

[oilandgas1] 12/1/2017 16:06

Just topped up 😄

[oilandgas1] 12/1/2017 16:03

News due:

Halifax spud & Lincoln flow test results next week probably
Jan17: Data room opening soon - bids??
Feb17: Halifax drilling & Flow test +2weeks?
Feb17: FPSO progress update for mid 2017?

Then investment for drilling / production
Capex: 400m+ required?? Farm out/ sale?

[fsawatcher] 12/1/2017 15:57

do hur have to pay more for rig while it waits for weather window

how does it work then?

they hire rig for so many days and that include bade weather

is this costin them more money?

[thegreatgeraldo] 12/1/2017 15:39

Seems a bit premature to be talking about HUR knocking out more equity. Other options are available.

[laserdisc] 12/1/2017 15:34

re ops weather window still looking good for week end I am watching a couple of vessels , so agreed remain patient is the trick, in fact I am very confident

[brahmsnliszt] 12/1/2017 15:31

CA have 157,374,010Kerogen have 293,911,931Michael Platt (bluecrest) 37.8mAs of last nightRebalancing by offloading say 5m is not a worry.Nice try to deramp.

[fsawatcher] 12/1/2017 15:25

but why aint ca awaitin the good news?

if that good they could sell at 60p instead of 49p

evryone take profit that smart at some stage

but ca know stuff that pi dont

that the worry

[extrader] 12/1/2017 15:24

Hi chessman2,

Good post, in reply to someone who - despite his moniker - doesn't seem to be aware of FSA/FCA rules applicable to one major shareholder and isn't watching what the other one is doing....;->

Sheesh !
ATB

[chessman2] 12/1/2017 15:14

FSA, Kerogen have 29.9% already so cannot increase without bidding for the whole company. CA have too many of their eggs in Hurricane which is why they are offloading a few. Besides they also have purchase options on umpteen million warrants at 20p.

The trick here is to remain patient ans await the good news.