Hurricane Energy Share Discussion Threads

[thecomposer] 26/11/2020 22:03

And a lot sooner than some currently expect, HUR present extreme lowball valuation makes no sense whatsoever.

[mhin2] 26/11/2020 21:21

There has been no RNS...ngms said he would not post until there was. There is either insider trading or its all speculation...interesting the shorters have not brought down the almost 100% rise. Lets await the plan...not long to go...lets hope the tech review was as wrong as Trice, and all the other confirming `experts' ...I hope the analysis of Lanc (links to Lincoln, water etc) throw more light on a murky area.

A lot of questions about professional competence, efficacy of professions and their claim to knowledge etc. The fact that so called professionals can be so wrong/diametrically opposed in analysis on fundamentals is a cause for concern for science and`scientists'. After all this is not supposed to be a humanities subject. Remember Desire and How they turned masses of oil into water (under the sea!!!!) overnight. A lot of wider issues and questions arise...I am fully confident they will not be addressed...

[dazzerman4] 26/11/2020 21:13

Rerate coming

[cobra kai] 26/11/2020 20:31

Leone

I wish I had superhero powers to move share up with my presence. Alas, I am merely a little sardine in the big ocean. I am staying safe in my dojo, till mms stop sweeping the legs.

CK

[leoneobull] 26/11/2020 20:24

Delusional. Bit like Trump .

[leoneobull] 26/11/2020 20:18

Amazed advfn have let you out of the lunatic asylum Deanroberthunt

[leoneobull] 26/11/2020 20:17

Cobra. The last time you turned up the share price spiked 30%. Are you a big fish or was it just a coincidence?

[leoneobull] 26/11/2020 20:12

Just waiting for the forward work programme like everyone else.

[leoneobull] 26/11/2020 19:54

I'm saving up money to afford an advfn premium package so I can vote down NGMS. Wish me luck!!

[bocase] 26/11/2020 19:41

You are right there Frank!

[fat frank] 26/11/2020 18:41

Gotta love that filter!!! Saved me from at least 12 posts of negative bluster from just today!!!!!

[bearnecessities33] 26/11/2020 18:15

Tomorrow should be a much better day for HUR where patience is key, today was simply some profit taking by traders post a few days of consecutive gains but when the anticipated RNS/Updates inevitably does drop here, then the now long overdue re-rate rally will duly commence, and with Brent still bullish and trading at ~USD$48, all IMO, DYOR.

[saint of advfn] 26/11/2020 17:54

I am afraid to say, many gamblers got nailed to the cross at above 5p. Lets hope our saviour comes to the rescue.

[ngms27] 26/11/2020 17:38

Pump then de dump.

[ngms27] 26/11/2020 17:34

What needs to be added is whether bubble point is reached in 2021 is not the most important factor, which is whether they can produce oil above the commercial threshold test. My personal opinion is that with well 6 alone they cannot and additional producer(s) at $70m a pop will be required ON TOP OF a water injector.

[ngms27] 26/11/2020 17:28

Read the RNS of 11th September when 7z was already shut in:
While the rate of pressure decline with cumulative production has slowed, based on current trends, well flowing pressure may approach the "bubble point" (the point at which gas is liberated from oil within the reservoir) during H2 2021. This may require the existing production wells to be choked back in order to manage potential excess gas production. Further work is underway to better understand the impact and possible mitigations of gas liberation in the reservoir, which may also have beneficial effects if a stable secondary gas cap emerges.

While the 205/21a-7z well can produce at high water cuts using the installed Electric Submersible Pump ("ESP"), the optimal near-term production strategy is to produce the 205/21a-6 well on its own under natural flow, leaving 205/21a-7z shut in to minimise water production and manage reservoir voidage and pressure declines.

So do you believe the RNS which is meant to be de-facto information or a transcript that isn't regulated?

[jackthecat1] 26/11/2020 17:20

back down we go. why?. and why the rise in the firat place.

I hold a few in my pension, so not fussed for short term.

[ppceh] 26/11/2020 17:19

Read the bleeding transcript! Clearly states risk of bubble point end 2021 but more likely into 2022.

Colin Smith

Yes. Thanks for taking my question. Just one query about production levels going forward, and the indication that you gave that there would be a risk of hitting double points in the second-half of next year that would require the fuel to be choked back. Could you just talk a little bit about how likely that is? What choke back would actually mean, particularly given the comment you made about 10,000 barrels being minimum economic level?

And secondarily related, should we consider the 7Z well essentially to be not available for production anymore? Thank you.

Beverley Smith

Yes. As far as hitting bubble points is concerned. Clearly, that depends on whether we flow both wells or we just flow P6. And at the moment, we elected – after the shutdown we had in August, we bought P6 back on and we did a series of step rate tests. When those were complete, we elected not to bring back on P7Z, because we wanted to do more work around the voidage issue and the bubble points – and the bubble point work. That work is still ongoing, so 7Z remains shut-in.

But we do have the option to flow 7Z again. And depending what our – what the results of the studies are, we’ll dictate whether or not we decide to flow two wells for one well and also how confident we are regarding bubble points.

As you saw in one of my slides, where we looked at the material balance, you can see a flattening of that trend and it is something that we need to keep an eye on. It’s not unusual in the life of a producing reservoir to see additional pressure support come in. So, at the moment, I think, we’ve done the right thing to alert the market to that risk. But we will keep monitoring it.

When we talk about choking back, we are talking about either turning 7Z off, if we’ve had it on. If we haven’t had it on, then clearly, that’s the point at which we need to choke back goes out further, but we will just flow the well at a lower rate as required at the time. It’s hard for me to give you numbers at the moment, because I have a model, but we’re still working on it.

Colin Smith

Maybe I could ask the question in a slightly different way. If you take 10,000 at a given for sort of minimum economic production, how confident are you that in whatever combination without water support, you’ll be able to maintain at least that level all the way through next year?

Beverley Smith

Yes. I’m looking at the profiles now. I don’t have a profile at the moment that would suggest that would be an issue for next year, even slowing both wells. So it’s not 2021 that we will have the problem, it’s potentially into 2022.

[ngms27] 26/11/2020 16:46

What people like PPCEH don't seem to get is what a water injector would do. It would have the following effect:
1) After a lag of several weeks (minimum) restore reservoir pressure to what it was prior to oil production
2) Stop bubble point being reached which would force gas out of solution
3) Increase the production of water
4) Potentially increase 2C

However what it wouldn't do is improve the out look for running with just well 6. Oil production from this single well would likely be below the commercial threshold test. They would also need to drill additional producers. This is what everyone is overlooking.

[ngms27] 26/11/2020 16:30

PPCEH, you've obviously not listened to anything I've said nor HUR. My personal model suggests that well 6 could become uneconomic with $40 oil by the end of January 2021. That meant less that 10k bopd being produced by well 6.

What HUR actually said about Q2 is that worse case bubble point would be reached nothing to do with watering out.

Next.