Hurricane Energy Share Discussion Threads

[greyingsurfer] 07/3/2019 14:10

fp,

He may have a little way to go - a declarable holding is currently around £26m!

[ronwilkes123] 07/3/2019 13:36

Pleased you don’t hold on margin Gary - unfiltered

[the guardian] 07/3/2019 13:35

The earliest hook up window I can see is Tuesday 19th Wednesday 20th March which is too far away to be reliable.

[fireplace22] 07/3/2019 13:35

Gary that's another £40K's worth are you sure you're not trading otherwise you must have a declarable holding by now! :-)

[the guardian] 07/3/2019 13:23

That's called Sod's Law gary and it happens to me all the time.

[gary38] 07/3/2019 13:19

TGIf they had not sail that day l would have got 43.50 + or - instead of 45.2 as my funds did not clear till 8.00 am yesterday, a different of about £1500.,tbats how your luck goes.Still happy l got 45.2 which is so cheap as these should be over a pound given what Hurricane have achieved.

[the guardian] 07/3/2019 13:00

Edited

It's a 24-30 hour sale to Lancaster from Cromarty so the forecast weather window needs to be adequate before they set sail. As yesterday showed, even then, the weather can change quickly.

Having snagged the rope once and then snapped it on the following attempt, the next window is going to have to be calm (swell of 2m or less) and of a decent length (greater than 24 hours imo) because they won't want to fail again.

[bountyhunter] 07/3/2019 12:41

Yes Gary I agree on that it is misleading as I pointed out earlier but was told it's not important lol! I think it is especially for anyone that doesn't realise Hur have stated H1 rather than Q1 and so are not behind on their planned timeframe.

[gary38] 07/3/2019 12:31

From Crystal Amber half year report:-'Hurricane's Lancaster EPS remains on time and on budget for first oil in the first quarter of 2019'.Hurricane energy states first oil in H1 2019 not Q1.The above statement in their half year report is misleading and trader Richard Bernstein of Crystal Amber should point this out to its shareholders and interested partners.

[ronwilkes123] 07/3/2019 12:15

Can’t chart Oiler’s like this

Unfiltered

[manc10] 07/3/2019 12:11

defo downwards chart from here just look at it

[damac] 07/3/2019 11:52

carcosa 7 Mar '19 - 10:53 - 42471 of 42471


Both heading out from Orkney mate ;O)

[carcosa] 07/3/2019 10:53

Well, some were claiming in here to expect FOIL November last year so I wouldn't criticize CA too much lol! Anyway, it may have been an internal HUR target for FOIL in Q1... Not that important anyway...

Meanwhile Havila Venus now heading out from Shetland to Warwick from ahead of Havila Jupiter which is having a bit of a nap in Shetland

[sf5] 07/3/2019 10:31

The CA 2018 report released today refers to anticipated FOIL in 2019Q1 - I thought H1 was the target? Anyway, it sounds a fair summary of the state of play:-

"Hurricane Energy plc (“Hurricane221;)

Over the period, Hurricane reported continued good progress with its Lancaster Early Production System (“Lancaster EPS”) and announced Spirit Energy’s (“Spirit”;) farm-in to 50% of the Greater Warwick Area (“Warwick̶1;).

Hurricane’s Lancaster EPS remains on time and on budget for first oil in the first quarter of 2019. Well completion operations concluded in July, the mooring system was installed in August and the subsea infrastructure was completed in September. The infrastructure is now ready to connect with the Aoka Mizu, the floating production storage and offloading vessel. The EPS’s Floating Production and Storage Vessel (“FPSO”) Aoka Mizu sailed from Dubai in October after completing a programme of repair, upgrade and life extension. The FPSO is now at the port of Cromarty, near Inverness, awaiting a favourable weather window to hook up with the buoy and initiate commissioning.

We believe that the deal with Spirit is transformational for Hurricane. As Warwick had only been drilled once by Hurricane in 2016, it was behind Lancaster in the appraisal and development process. Spirit’s commitment of $387 million to a detailed three-year work programme aims to rectify this. It targets an initial development of 500 million barrels of reserves. To achieve this goal, rig contracts have been signed to drill three horizontal wells in 2019, fully funded by Spirit. Long lead items have been ordered so that in 2020 one of those wells will be tied back to the FPSO for production appraisal. As with the Lancaster EPS, this step will enable collection of additional reservoir data ahead of full field development. It is expected to leverage Hurricane’s Lancaster EPS infrastructure, and so generate incremental revenues at little additional cost.

The Fund is pleased that Spirit’s commitments validate Hurricane’s belief that Warwick is analogous to Lancaster, and also contains significant reserves of oil. With this deal, the cash expected to be generated by the Lancaster EPS will be available to further the appraisal of the Greater Lancaster Area, in which Hurricane retains a 100% interest.

Over the period, the Fund reduced its holding in Hurricane by 22% and realised £11.3 million. This reduction takes into account the subsequent reinvestment of £3 million in the company at the end of the period, following share price weakness.

In 2019, the Fund looks forward to the commissioning of the EPS in addition to the three wells that will be drilled by Hurricane and Spirit."

[fatnacker] 07/3/2019 10:28

Didn't think the drill program would be the lead driver of the share price at this stage but its beginning to look like it might be.

[mhin2] 07/3/2019 08:32

seems no money for new rope!

[the drewster] 07/3/2019 08:27

The longer the delay, the lower it is likely to drift, the more compelling a trading batch becomes. Be lucky.

[mhin2] 07/3/2019 08:23

At least nobody can say that leaving for the Lancaster field is priced in! Hur has to be an easy 10% just on a favorable weather window...nuts!

I read the CA results...not very good, seems as if their major saviour is Hur, and they seem to be milking this volatility...Happy to wait until hook up/FOIL before taking out some risk (not all...its a possible 5/7 year investment!)

[francis55] 07/3/2019 08:19

16 separate transaction all rounded off to nearest thousand. If this continues it could be a move to drive the share price down b4 a large buy?

[hiddendepths] 07/3/2019 08:10

200MPH jetstream forecast, which is unhelpful. Still, it seems that the Azores High MIGHT head north next week, which could produce a few days of tranquil seas. But highly uncertain at this stage.

[ronwilkes123] 07/3/2019 07:58

Wasn’t that yesterday

[francis55] 07/3/2019 07:55

46.13p open?