Hurricane Energy Share Discussion Threads

[davidblack] 25/8/2017 09:47

For now this is like moving the deck chairs on the Marie Celeste. All is quiet.

[haideralifool] 25/8/2017 08:23

zz, you know you can sign up for their alerts service? The news will come looking for you rather than the other way around ;)

hxxps://www.hurricaneenergy.com/communications/alerts-service

[zztop] 24/8/2017 19:12

True..must admit I do look every morning for news...im lookin for more of a take over news rather than the farm out news stuffThanks

[laserdisc] 24/8/2017 19:04

zz 18months ago someone posted on here saying 6months should be an approx timescale for a farmout deal. You would think if its the same companies this time around at the table ,then most of the dd will now have been done.

[zztop] 24/8/2017 18:40

Laser, do you know summit we don't? :0)

[laserdisc] 24/8/2017 18:34

farm out discussions are possibly close to a conclusion, I hope so, so many false dawns in the past comes to mind.

[ytse] 24/8/2017 17:49

Very bad management
Wrong decisions and no information

[napoleon 14th] 24/8/2017 17:30

I think they should RNS as & when if they've been spending in anticipation.

[wessexmario] 24/8/2017 16:34

Given the lack of information from the company, maybe someone who thinks it's still important should contact them and ask if they have done the FID, or if there will be an RNS when it's done?

I'm in the 'it's no longer important' camp, given that the fundraising is completed and by the visible activities much expenditure must have already been committed to.

[greyingsurfer] 24/8/2017 16:31

So as everybody on this board and more do know that the FID has been completed given its principal purpose is the refitting of the AM, something we all know quite a lot about.


So whilst regrettable the Hurricane board are not in breach of AIM disclosure.

Pretty odd me ending up defending them! Hey no one said the universe didn't have a sense of humour?

Sorry, I disagree. The final signing of the FID is highly material. Until it happens it's possible something will stop it happening/postpone it or whatever - however unlikely it remains a critical milestone.

The fact that it may now seem so close to finalisation that the company is moving ahead with expenditure (which it has openly for some time) doesn't mean either that it doesn't remain important, or that an RNS isn't obligatory when it's done, or that there is currently anything for you to defend the company about. They will RNS once the FID is finalised - not before.

Therefore the FID is not finalised!

Peter

[davidblack] 24/8/2017 16:20

The materiality is based on the news being important and not in the public domain. This is important but widely known so it fails the requirement for it having to be disclosed. But they can if they want to though?

So as everybody on this board and more do know that the FID has been completed given its principal purpose is the refitting of the AM, something we all know quite a lot about.


So whilst regrettable the Hurricane board are not in breach of AIM disclosure.

Pretty odd me ending up defending them! Hey no one said the universe didn't have a sense of humour?

[junk] 24/8/2017 16:03

There is a difference with needing to release information and wanting to. Even if the information is not material they should still have an eye on updating shareholders and potential shareholders...think you call it marketing your company. :)

[greyingsurfer] 24/8/2017 14:10

The announcement of the FID seems to have become "Not a material event" and therefore under AIM rules it doesn't need to be announced.

No - it is highly material, and it will need an RNS - once it is finalised.

That doesn't that the company is not by this stage sure enough that it's going to happen and get signed off that they are prepared to start spending (or rather continue to spend) cash on some items/work to ensure the work program stays on track.

Since the big issue regarding the FID was the funding, which has now been resolved, the outcome of the FID negotiations is pretty visible at this stage - even if they are not finalised.

Peter

[davidblack] 24/8/2017 12:03

The announcement of the FID seems to have become "Not a material event" and therefore under AIM rules it doesn't need to be announced.

The logic for this is not unreasonable given everybody knows what is happening including the location and status of the AM and the boat doing surface work. So on that basis the RNS is pretty redundant compliance wise. It would be a nice communications gesture however in my opinion.

[ngms27] 24/8/2017 11:57

I cannot see how a FID can be connected to negotiations as they are clearly spending the cash. Unless the FID is potentially going to be based on a more adventurous / larger scale EPS with a partner...

[rackers1] 24/8/2017 11:34

Another nice cut and paste there Garfield.

[mrwaite] 24/8/2017 10:57

Any opinions as to whether the delayed FID might be connected to ongoing FO discussions?

[fireplace22] 24/8/2017 10:30

Off the Algerian coast eta 1500hrs on 29th.

[davidblack] 24/8/2017 10:20

Where is the AM ship watchers and how long till we get to sunny Malta?

[davidblack] 24/8/2017 10:19

The FID has been approved with the only issue being that they put a second class stamp on the envelope which contained the RNS notice. The Royal Mail sent it to their lost letters operation for fast redirection based in Bangalore or Timbuktu?

[hiddendepths] 24/8/2017 09:22

ngms - you can draw your own conclusions! I'm guessing that the FID might be approved.

[smelgys mum] 23/8/2017 22:41

weekly MACD just crossed up, i use 7 14 9 parameters, much more effective imo than the default 12 26 9.

[ngms27] 23/8/2017 22:09

How come they are spending all this money without FID?

[wessexmario] 23/8/2017 21:29

Bucentaur won't be drilling a well... it will be working on preparations for the FPSO, most likely preparatory work for the moorings - given that a fisheries alert has gone out which gives the FPSO proposed location as the centre of activities with a radius of 1200m which corresponds with the FPSO's likely mooring cable length.