Hurricane Energy Share Discussion Threads

[the guardian] 16/1/2017 15:18

Disappointing day. I know that we are 10 weeks or so away from any Halifax result and that everyone knew the spudding was imminent but I did expect a significant rise today on the back of the RNS.

I just hope that we creep upwards and that the impatient holders don't sell to trade elsewhere.

[bloodhound] 16/1/2017 14:13

All the above and up 0.5p :-(

BH

[kfr20] 16/1/2017 12:59

All a bit murky in Kurdistan, and little sign of encouragement.Back to HUR, this is shaping up to be a big positive story for the North Sea. Potentially the best thing since Encore Oil and Nautical Petroleum.

[zztop] 16/1/2017 12:56

i'm in the correct place , no sweat here

[nicebut] 16/1/2017 12:11

The problem with Genel is the greedy KRG/MNR who are effectively broke- in debt to the tune of 30bn and incapable of seeing the sense (win win) in paying back costs and indeed for production on time.

[gregpeck7] 16/1/2017 12:00

I am in both kfr but genl is 20% of my HUR holding....

genl is more risky but worth holding a few, if it moves it wont hang about thats the problem with it..

[kfr20] 16/1/2017 11:46

I had originally picked Genel as an oiler likely to do well this year. I have since had a rethink on that one. Perhaps something just doesn't feel quite right there, I may be be wrong, so for now keeping it on the radar so to speak.

I have this morning taken a position here. See this as a promising investment case. Momentum building nicely here. GLA.

[jacks13] 16/1/2017 11:24

That’s a fair point geraldo, the company has set out a range of options and each option carries its own baggage in terms of dilution and/or risk. The current dollar exchange rate does however mean that a farmin partner, at a simplistic level, gets a bigger slice of a Sterling denominated company for each USDollar spent. If nothing else the exchange rate is likely to whet the appetite of majors and inspire a level of interest that might otherwise be lacking.

[thegreatgeraldo] 16/1/2017 11:10

Re the "$400 million fundraising", it's worth remembering what the company has actually said,

....A preliminary estimate is that the capital expenditure required to achieve first oil from the EPS, excluding the two horizontal wells which have already been drilled and tested, is expected to be up to USD400 million. This estimate comprises vessel hull and topside conversion, vessel repair and life extension, turret, buoy and mooring, Subsea Equipment, well completions and vessel deployment and associated service and engineering costs (including the Subsea Equipment, buoy, mooring and control system long lead items funded by the Fundraising).

Hurricane is considering a range of financing options for the EPS phase of the Lancaster development and currently intends to finance the EPS via a combination of some or all of the following options: equity, production pre-payment facility, deferred vendor finance, deferred yard and fabricator finance, hybrid ownership of the FPSO, export credit agency guarantees and farmout.

[oilretire] 16/1/2017 10:59

Chevron.

Although looks like they will revisit Rosebank - just using this industry cost correction to their full advantage....

[cashandcard] 16/1/2017 10:50

Two global majors and a large independent. Hmmm...Someone posted on lse before Christmas they heard at an Aberdeen Christmas do, a company that has recently cancelled an FPSO were checking out Hurricanes Lancaster.Rosebank FPSO cancelled....Cash

[the sage] 16/1/2017 10:37

Thanks to those who shared that link. I joined the party at mid/late forty's. I'm here till we get bought out. GLA.

[jacks13] 16/1/2017 10:22

At 1.20$/£ that $400m fundraising gets cheaper by the day.

[garymegson] 16/1/2017 10:00

I see Cantor are sticking at 69p for some reason!

[oilretire] 16/1/2017 09:49

Quality sign off :-)

“We can make money from Lancaster at $40 [per barrel],” he says. “At $50, we’re laughing.”

[oilretire] 16/1/2017 09:46

Decent simple diagram of the area too

[dcarn] 16/1/2017 09:36

Good read.

I particularly liked, "two global majors and one large independent explorer have expressed interest." & “We can make money from Lancaster at $40 [per barrel],” he says. “At $50, we’re laughing.”

[damac] 16/1/2017 09:28

Davidblack16 Jan '17 - 08:14 - 14001 of 14013 0 0
Is this the last well of this campaign?

Somehow I expected a further hole as a possibility if Halifax came good.



From the RNS....

"This has already been a hugely successful drilling campaign for Hurricane and the Halifax Well marks an exciting opportunity with which to close it.”

[garymegson] 16/1/2017 09:27

FT article Use google and search for "hurricane energy hopes to prove a new force" you can then read without a subscription.

Two global majors and one large independent explorer have expressed interest.

[brahmsnliszt] 16/1/2017 09:26

type in the headline Hurricane hopes to prove a new force in North Sea oil into google and click on the first link. that should work

[idleduck] 16/1/2017 09:25

Can't read FT stuff as not a subscriber
What do you mean by impressive stuff?