Hurricane Energy Share Discussion Threads

[francis55] 01/3/2019 08:11

Not sure how to see all my own.posts on here so i can repust but I put up a link a few weeks ago with a video of how you connect to an FPSO for anyone interested in the actual process of how it physically hooks up.

[gary38] 01/3/2019 08:11

Hopefully AM off to hookup soon Laser.

[soilderboy] 01/3/2019 08:08

Blue is my colour!

[bocase] 01/3/2019 07:54

Another delivery from G.S.

They get through some sausages don't they. Hungry work this waiting around.

[laserdisc] 01/3/2019 07:47

thats what i was looking for gary

[gary38] 01/3/2019 06:28

Grampian sovereign will arrive back in Cromarty at 10.30am.

[pro_s2009] 01/3/2019 02:13

Thanks Fireplace. Its worth highlighting those main points from the recent Stifel note again.


.....'Our unchanged thesis on HUR is that technical de-risking during the first six to nine months of production, i.e. by around ~YE19, should close the 66% discount to NAV (vs sector 27%) implied by our unchanged 130p target price.

Today Stifel hosted a desk presentation from FD Alistair Stobie.

The next attempt to hook up the production vessel, a precursor to first oil, should be around the end of February (weather permitting) while exploration drilling will recommence in April. No impact on valuation (Figure 1) or financial estimates.'

'Hookup possible from ~month end: HUR is waiting on replacement kit for a third attempt to hook up oil production vessel the FPSO Aoka Mizu to existing subsea infrastructure installed over the Lancaster oilfield (UK West of Shetland).

The spare should be available from around the end of February with a hookup attempt possible thereafter depending on the weather. As a reminder, a period of ~24 hrs with swell < 3 metres is required to attempt the operation.

We come away with more comfort the failure mode of the first and second attempts will not be repeated, i.e. was chance rather than evidencing systematic engineering failure.'

[bountyhunter] 28/2/2019 20:10

I agree that does seem more likely than simply waiting for the rope(s) given the length of time and would also fit in with possible recent sea trials when the AM went out on a brief offshore excursion.

[gibso6767] 28/2/2019 20:03

Re Delays , my own tenpenneth is this , a Rope be it SWR or Synthetic with test certs and jewellery fitted would have easily been sourced , made , tested and delivered since last mishap , perhaps engineering and mechanical modifications to the AM Turret retrieval System

[jimjam5] 28/2/2019 19:49

Sorry all for OT. Ref engineering in the uk
..... there is still actualy a lot of it about. Infact there is a shortage of good egineers in the uk. True a lot of the heavy engineering is gone (which i am not happy about) BUT the uk still turns out a lot of ultra high quality rngineering. About 70% of the F1 grid is engineered in the uk. The mercedes f1 engines are designed and made in northampton. Im not in F1 but its a good example. What im saying is that with all the doom and gloom we hear these days, as already stated we still do a lot of good stuff here : - ) we do still have a lot to be proud of its just no one upon high gives a shut about it.

Love it or hate it top gear did a great show a few years ago on it.

[the guardian] 28/2/2019 19:23

Just came across this video of the AM on Youtube. I thought it had been taken by a five year old. Not much to see really, but here you go.

[ltinvestor] 28/2/2019 18:48

Anley.I am not sure about the “ big seller in the background”.I am aware that CA have reduced their holding over the last couple of years but at present they are buyers.Major institutional support for the stock will come when Hur have cash flow, and finally move from Aim.I am expecting a bid from one or two oil majors as oil flow is proven so in 6 months time I expect the share price to be much higher than it is today....LT

[laserdisc] 28/2/2019 18:37

Grampian sovereign coming in, will be the next vesselin ,presently awaiting highland prince, karen c to leave, its very well lit .just interested to see where it docks
catch it on east camera presently then switch to west camera


EDIT on camera @7.14pm

[anley] 28/2/2019 18:19

FIREPLACE....thank you so much for posting part of that well know US brokers comments on HUR.

I see the bigest problem as brokers or the City not realling understanding oil/gas exploration companies so prices will remain drepressed unless there is some startling news.

HUR will pop as and when they Hook-up so I am a buyer at 43p.... then they may drift up to the 65p level once the company announces good flow rates BUT after that who knows unless the Farm-in comes up with good news.

I have been looking at Cluff (CLNR) who are signing up with Shell and here we have no real broker who is able to give a reasonable NAV on the shares and that is why the price is all over the place.

Back to HUR - many punters will hope that the price will shot up but there is still a big seller in the background and so 60p+ looks about right as the Hook-up looms and even calmer waters up North!!

[bountyhunter] 28/2/2019 17:46

TG I was thinking along similar lines this morning but also couldn't recall the reference, thanks fireplace for finding it.

[greyingsurfer] 28/2/2019 17:29

It's lifting kit they are awaiting not merely a rope.

A rope is lifting kit! Perhaps it's more, but we don't know.

[danny baker] 28/2/2019 17:02

tournesol, I totally agree. I was thinking more of those specific jobs 40 years ago which were in Killingworth, North Tyneside. These days Glaxo at Stevenage and the tech firms around Oxford and Cambridge as you say all employ fantastically highly skilled scientists.

[laserdisc] 28/2/2019 16:31

Grampian sovereign has made v good headway this afternoon, approx. 60 mins ahead of sch expect into Aberdeen around 6.30pm

[hiddendepths] 28/2/2019 16:00

I remember seeing the intelligent pigs used in the Trans Alaskan Pipeline. Great big things they were! That was a great analyst visit - thanks BP!

Probably produced great bacon! ;-)

[the guardian] 28/2/2019 15:55

Thanks very much fireplace.

That's the line I remember.............

The spare should be available from around the end of February with a hookup attempt possible thereafter depending on the weather.

We are just too impatient.

[tournesol] 28/2/2019 15:55

"sadly those jobs no longer exist"

No but there are lots of other highly skilled jobs in all kinds of areas. The UK is a major force in AI for example and also in Pharmaceutical research . Someone I know works for a world leader in applying AI to pharmaceutical research. I'd respectfully suggest that his job is just as skilled as those of the engineers of the 80's.

[fireplace22] 28/2/2019 15:52

It's lifting kit they are awaiting not merely a rope.

[fatnacker] 28/2/2019 15:51

Greyingsurfer, I agree except I can't find any official reference to the spare pull in rope that suggests there was two to start with, I've read a lot about it on this thread though;)

[fireplace22] 28/2/2019 15:45

TG i think this is it from Muddy: POst 41299

Thanks to PC01 on the LSE, an extract from a Stifel note last night. so it seems we are waiting on lifting kit and expect it the end of month.

Sorry no link as below

No, the new MIFID rules that exist make sharing of research a tough gig - but the opening paragraph says :
'Our unchanged thesis on HUR is that technical de-risking during the first six to nine months of production, i.e. by around ~YE19, should close the 66% discount to NAV (vs sector 27%) implied by our unchanged 130p target price. Today Stifel hosted a desk presentation from FD Alistair Stobie. The next attempt to hook up the production vessel, a precursor to first oil, should be around the end of February (weather permitting) while exploration drilling will recommence in April. No impact on valuation (Figure 1) or financial estimates.'
and
'Hookup possible from ~month end: HUR is waiting on replacement kit for a third attempt to hook up oil production vessel the FPSO Aoka Mizu to existing subsea infrastructure installed over the Lancaster oilfield (UK West of Shetland).

The spare should be available from around the end of February with a hookup attempt possible thereafter depending on the weather. As a reminder, a period of ~24 hrs with swell < 3 metres is required to attempt the operation.
We come away with more comfort the failure mode of the first and second attempts will not be repeated, i.e. was chance rather than evidencing systematic engineering failure.'
Hope this helps...

[buzzzzzzzz] 28/2/2019 15:44

TG

It never happened otherwise it would have been all over the BB.