Hurricane Energy Share Discussion Threads

[laserdisc] 13/3/2025 19:36

Notice someone bought DCU'S and paid 2.07
06/03/2025 900,000 2.07
If the Prax deal goes ahead end of this month then we should be confident that the returns from DCU'S in 2025 & 2026 will nearly fulfill what was promised at the takeover, other factors out of our control are oil price & Lancaster p6 continued production

[laserdisc] 05/3/2025 09:41

census is maintenance schedule re jigged but too many unknowns poster on the other thread last week mentions that flare has reduced but not completely out. mentions welding of a tank, The Total deal seems on track, certain staff from Total are being trf to Prax on 31/3 . Could check the heat map for flaring at AM but will not give many answers, Bluewater have to give 6mths notice if AM is being moved presently still making good money on Lancaster

[porrohmahnn] 05/3/2025 02:25

That's quite a significant 19% drop in oil production from December, but the water percentage is the same and gas percentage has fallen slightly. I presume that there must have been a production interruption and/or some scheduled maintenance.

[laserdisc] 01/3/2025 11:01

Production figures for January now showing 5030 per day

[laserdisc] 01/3/2025 09:53

TANKER WATCH the Altera Wave has done a part offload 27/2 now at Rotterdam Anchorage this morning awaiting to unload at Europort terminal my estimate 384,000 this volume will fall into the September 2025 calculation for dcu's payment

[laserdisc] 01/3/2025 09:24

Gipps i am no expert but the dcu payments are shown as a cash distribution. The initial special dividend of 5.19p prior to issue of DCUS was shown as a dividend. it seems different providers show narrative in different ways.

[gipps] 28/2/2025 19:21

I didn't have them in an isa and on my lloyds share account the payments showed up as dividends so my accountant said I had to pay the tax on them.

[rahosi] 28/2/2025 08:20

AFAIK, current payments are a return of capital, not dividends.

What I am uncertain of, if the original investment was inside an ISA, but now not, whether these ROCs are deemed to be linked to my ISA or not.

[gipps] 27/2/2025 11:38

Advice required. I have been paying tax on the dividends from Prax but does anyone know if you can claim capital gains relief on the loss on the original Hurrincane shares ?

[laserdisc] 18/2/2025 09:16

info on the other thread

[laserdisc] 18/2/2025 09:16

info on the other thread

[volsung] 18/2/2025 09:10

Thank you please sir

[labourout] 14/2/2025 12:04

My calcs are 0.53p (2 loads) or 0.77p (3 loads) if £1 = $1.24

[laserdisc] 14/2/2025 12:00

Oleisatthewheel. Over on the lse thread calculations of revenue are prepared by divecenter thanks to him for that ,I have extracted a line in his post a few unknowns at present on offloads and exchange rates

“I am now estimating £0.00516 for 2 offloads and if 3 then £0.0075”

[oleisatthewheel] 13/2/2025 07:38

Does anyone know what the expected payment will be at the end of March. Thank you

[oleisatthewheel] 13/2/2025 07:22

Does anyone know the expected payout from Prax at the end of March. Thanks

[marmar80] 04/2/2025 23:35

Another words Prax made a good deal

[porrohmahnn] 04/2/2025 22:26

Thanks for your reply Steve73. The FBHP hasn't been reported since March 2023 AFAIK. At that time it was 1,498psia. It would be interesting to know what it is now but Prax are keeping that info to themselves.

I've been sourcing data from the gov't website.

[steve73] 04/2/2025 02:54

porro,

The effect of the production shutdown during maintenance will "normalise" the reservoir pressure in the region of the wellbore, and also any water "coning" will drop back to a level interface. Net effect is higher overall production, and with a lower water cut. Normally (in a traditional sandstone reservoir) this takes only a few days to get back to previous rates, but I guess FB will respond similarly, perhaps with the "premium production" lasting much longer due to the higher permeability (of the fractures), but lower overall porosity, and the production coming from a much connected wider area.

btw, are they still reporting the FBHP, or are you just sourcing numbers from the gov't website?

[porrohmahnn] 03/2/2025 23:19

On a moving 12-month average basis, the rate of increase in water production continues to diminish as does the rate of reduction of oil production.

Looking at oil production rates since first oil, each time there is a shut down for maintenance, production over the following two or three months roughly offsets what was lost during the shutdown, with most of that offset happening in the month after the shutdown.

[laserdisc] 01/2/2025 11:18

6180 daily production for December 24

[fat frank] 17/1/2025 19:19

Porrohmahn:

If the Aoka Mizu is still producing during the last half year of the arrangement, and taking into account the additional production from the purchased Total assets, the maximum DCU payments should have been achieved well before this time.

[porrohmahnn] 15/1/2025 12:37

I have read the Scheme Document and the Deed Poll and cannot find any reference to what payment, if any, that DCU holders would receive three months after the end of the last Half-Year period in relation to any unsold oil that is on board the AM or in relation to any unsold oil from any other asset(s) that Prax might buy using the tax credits. I'm disappointed that the agreements don't appear to include provisions that entitle the DCU holders to a share of the stocks of oil that are held at the end of the last Half-Year, valued at whatever price these are eventually sold for, less applicable deductions.

Am I missing anything? Have I misinterpreted? If not, there would be little incentive for Prax to sell shipments of oil towards the end of the last Half-Year. We have already seen situations where uplifts of oil have been very close to the end of Half-Year periods and its not inconceivable that a similar situation might arise at the end of the last Half-Year.

There is a provision in the Deed Poll that requires; "The Company shall discharge its obligations under this Deed in good faith and shall use all reasonable endeavours to maximise the Deferred Payment." There is also a dispute resolution process but I'm not convinced that these would provide the necessary confidence that the scenario I envisage above could not occur.