Hurricane Energy Share Discussion Threads

[master of disasters] 18/12/2020 12:44

Mr The Abbot, I think I remember you on i3E, your niece of 8 years old told you buy at 80p and it went down to 3p

[rayfenn] 18/12/2020 12:42

Only £30k

You will always get the mugs bottom fishing

[cobra kai] 18/12/2020 12:40

Kai legged it last week at 4.72p, nearly ended up in a coma here with an Eagle Karate kick. While meditating my sensei had a vision of a raven circling over our HUR Dojo.

MMS sweeping the legs now. We have lost the tournament.

Retreat in our Dojo and consolidate, we will return back for the world championship in 6 months time. One of our sensei here will come up with a plan of action(s).

CK
Strike First
Strike Hard
No Mercy.

[babbler] 18/12/2020 12:39

Someone bought over 1m above ask.

[rayfenn] 18/12/2020 12:35

Shares are essentially worthless after todays awful RNS

[babbler] 18/12/2020 12:19

It's hur.... I was surprised it went past 5p recently. But traders are in now for a potential bounce. Risky but they may make 10 to 20 % short term.

[rayfenn] 18/12/2020 11:49

Shocking update today

[raggedtp] 18/12/2020 11:33

Dear All
I don't post here and won't again. While I was not that big a shareholder, I was a long-term investor, by which I mean long, 15 years, from the founding of the company. It was always a punt, but I let myself get sucked in too far, perhaps by the paperweight on my desk that contains sweet, light crude from the Lancaster Discovery of August 18th 2009.

I have finally sold out immediately this morning on reading the RNS. I had always said the story needed to be resolved at latest 10 years from that Discovery. If only I had obeyed my own rule! But I still believed in Robert Trice's theory at that time.

Why I am bothering to post here is that I don't want anyone to be under any illusions. There just might be some real upside (not saying the traders of you won't make 20% here and there), but to prove it requires the bondholders to be onside with a new capital raise, and they, as senior debt, are in charge, so ordinary shareholders are more than 50% likely to get wiped out. I won't wait 2 years more, with an unknowable oil price, to see if the new theory, put forward by a BOD , most of whom with less skin in the game than I had, plays out. Certainly they are not believing in FB any more, and the water cut is ominous. Anyway, I will lick my wounds and rebuild in other plays.

While I am not responsible for the company in any way, I am sorry if the public listing of the company loses you money too. Good luck to you all.

[ngms27] 18/12/2020 11:17

ghhghh, wrong.My model suggests 10k end of January.I still think it's going to be close.HUR themselves suggest 11k now.

[ngms27] 18/12/2020 11:06

Put another way an additional $14.6m over a year gross.Won't make a dent in the debt or fund the work program.Equity remains as dead as a dodo within 12 months IMHO.

[ngms27] 18/12/2020 11:04

Yes they make $40k per day gross extra at 12k @ $50 rather than 14k @ $40

[leoneobull] 18/12/2020 10:56

NGMS! Your model was based on 40 usd ....are you going to update it to 50 USD? 25% higher selling price means that even producing say 10% less than now we would still be generating more income.....than say 14000 x 40 usd. H2 better than H1 as av. selling price in H1 was 30 USD.

[htrocka2] 18/12/2020 10:51

Yes sirrux….it's turned into a game of poker...HUR is telling it's stakeholders (including bond holders)....back us to drill a new well...or we'll all go under.(maybe the separation of the decommissioning costs was trump card they were saving.?)

[volsung] 18/12/2020 10:37

When the moon shines therin lies the lamp of trancendance

[sirrux] 18/12/2020 10:37

Looks like a fun play this, with the threat of decommissioning looming over all stakeholders. That could produce a novel outcome.

[thegreatgeraldo] 18/12/2020 10:35

The BOD need to have a chat with the Crystal Amber guy...... he knows where the oil is.

[leoneobull] 18/12/2020 10:34

For those that missed the Hannem note......"Hurricane currently has US$87m in available cash (versus a market capitalisation of US$114mm and outstanding convertible bonds of US$230mm) plus we estimate ~US$50mm in restricted cash. The company is also free cash flow positive at current oil prices and production levels. HUR remains very geared into oil prices: at current production rates of 12kbbl/d, we estimate US$40mm of incremental cash flow if oil prices move up $10/bbl (35% of the current market cap for just one year’s production). Also, if it can boost production by 5kbbl/d, over the course of a year based on a US$50/bbl realisation, this would add ~US$90mm of revenue with little incremental opex."Not for widows and orphans, obviously.....

[steve73] 18/12/2020 10:28

If they could drill a WI well for c. $10MM as a back to back to 7y, then it would make sense. The bulk of the WI cost is for the riser, flowline and other subsea kit, well completion would be relatively simple, plus any topsides refurbishment works.. Some of this would be long-lead, but IMO it would make sense to wait until after 2022 to fund and commit to this only IF 7y is a success, and after the CB's have been discharged with no further dilution...

[ngms27] 18/12/2020 10:24

Those that think that well 6 will still be producing 11k by Q4 next year must be deluded.Why do you think it's now on ESP at a reduced rate?It essentially likely became unstable with water cut above 30% when producing 14k. It's only going one way.The big decision is now June 2021. Do they commit to running the FSPO beyond June 2022 without remediation in place and knowing if it works.If I were a bond holder I know what I'd want and it's effectively wipeout for equity given the risk from here.

[sbb1x] 18/12/2020 10:15

Found a base.Might be ready to build..