Hurricane Energy Share Discussion Threads

[chessman2] 08/1/2020 23:30

HAFool, What a good memory you have!

In the meantime I am also wondering about the big trades we continue to see which are notified at the end of the trading day. I'm guessing they are buys as I do not believe the MMs would pay so much to sellers of such stock.

The next few months could prove interesting. Perhaps Dr T is a clever guy after all!

[tournesol] 08/1/2020 22:41

ITinvestorcertainly am. would be interested in your thoughts. T

[ltinvestor] 08/1/2020 22:24

Tournesol.Are you still looking for an AI company.I should have something for you in a few weeks time...

[soilderboy] 08/1/2020 20:49

I will chuck in a packet of fruit gums and some of the old black puddinh if it helps.Every twenty quid spare is going on HUR.

[haideralifool] 08/1/2020 20:09

tournesol when I do a search for the word 'aspergers' on my hard drive I get posts from the TMF Soco board from around 2007. I don't think money cures it.

[edgar222] 08/1/2020 20:08

Or you could just filter the OCD idiot?

[tournesol] 08/1/2020 20:03

NGMS

If you stop banging on about bloody water I'll donate £20 to a charity of your choice.

Anybody care to join me in doing likewise? Can we get 25 people to do the same?

T

[thegreatgeraldo] 08/1/2020 20:03

How much gas are they allowed to flare?

[ngms27] 08/1/2020 19:38

Correct production is limited by quantities of gas they are permitted to flare.

[greyingsurfer] 08/1/2020 19:15

Well, tgg, the gas tie back won't pay for itself in terms of gas sales. But it will far more than pay for itself in terms of ability to increased oil production.

[thegreatgeraldo] 08/1/2020 18:46

btw, that gas export line won't provide a return on cash invested. Even if they can get the FPSO up to 40kbopd, based on Lancaster gas production (5mmscfd) they'll only be pushing 10mmscfd down it...... Assume the OGA is not a big fan of flares.

[thegreatgeraldo] 08/1/2020 17:51

Strikes me there are 2 areas to consider re Spirit....the tie-back & future drilling.

On the tie-back, can't see any reason why the Lincoln well won't be hooked up & the deal there is,

.." Spirit Energy will pay 75% (up to a maximum of $140.7m) of the anticipated gross cost of the tie back and of the required modifications to the vessel,.."

with HUR presumably paying the $50 mill or so to tie in to WOSP

Future drilling seems up for discussion, namely the plan to .."target drilling three additional wells to further appraise the accumulation.."

Presumably those 3 wells would have covered the licence commitment to esablish the OWC?

[superbobtaylor] 08/1/2020 17:33

Moving past water issues......

What I am wondering is what the drill programme for 2020 and beyond now looks like? I suspect that the one shown above in the lovely chart is now up in smoke, with regards to the GWA production wells at least. My understanding is that HUR now have to drill 2 x vertical wells to conclusively establish oil/water contact on Lancaster and Lincoln. I am wondering:

1. Why this new requirement for the vertical wells? What has changed?
2. Who is paying for the Lincoln well - HUR, Spirit or 50/50?
3. Can we bring any of the other work forward now there won't be 3x GWA production wells to plan and pay for (estimated at $90m)? Specifically the gas export solution.
4. When will we know if HUR will drill a further Lancaster production well? Without the gas export solution it won’t make a difference with respect to output but you have to feel it would be very important that this well is shown to be a decent producer.

By my reckoning HUR should comfortably have funds to pay for all of the above from existing cash ($150m) + 2020 FCF (projected at $220m). They have to pay $50m for GWA tie back.

Will HUR pay off the convertible bonds if 2020 proves to be a low CAPEX year?

Any comment/answers from you knowledgeable bunch would be much appreciated!

SBT [very long..... :-( ]

[johnhelme2704] 08/1/2020 17:31

there was a 3million share buy yesterday,,,I have seen a 2million today go thru at 1637

someone is accumulating

[damac] 08/1/2020 17:08

fortune cookie

Therein lies the problem.

Hur have repeatedly laid it out for everyone since (and including) the last RNS, based on data gathered from the wellheads since they began extracting oil from Lancaster, that in their expert opinion, the current water issue (if it even is an issue) is down to encountering perched water. Yet some people are hellbent on ignoring what Hur are telling them for what can only be assumed as furthering their own agendas.

[fortune cookie] 08/1/2020 16:51

Fact If you think water is an issue don't invest

Fact if not then invest for the oil

Nobody on this board knows the answer and all I read is people trying to prove they are clever

HUR will let us know when thay are ready

[telbap] 08/1/2020 16:41

For the love of god!Fact there is oil Fact there is waterFact I am exhausted reading thru a million posts on the subject, someone please bring back brexit!!!!

[hashertu] 08/1/2020 16:15

NGMS. My interpretation of the 2014 article is that they postulated water was coming from below for the -4z DST. There was no mention of perched water. So the the 2016 assessment just repeats the story.
Well -4 testing was a mess.

[jacks13] 08/1/2020 16:14

ngms, yet they signed off on a best case estimate of 5% to 10% water saturation range. (They didn't use the term 'perched water'.)

In the cmd RNS, 11 July 2019, Hurricane said:

'Whilst the RPS Energy May 2017 CPR stated that it is not possible to measure the volume or distribution of water trapped in isolated parts of the fracture network, a best case of 5-10% was estimated.'

[ngms27] 08/1/2020 15:41

Jacks13, no I don't.

Given they also say they expect no water to be produced in the lifetime of the EPS.

[jacks13] 08/1/2020 14:35

ngms, the point you are ignoring is that RPS cannot model perched water and so chooses to ignore it. Nowhere do they use the term perched water. Do you agree?

[ngms27] 08/1/2020 14:25

Steelwatch, no but you produced the chart after someone else stated it was ;)

[steelwatch] 08/1/2020 14:22

ngms - I certainly didn't offer Bach Ho as a good analogue. Simply confirmed what Jacks13 reported about perched water production increasing and later decreasing.