Hurricane Energy Share Discussion Threads

[mhin2] 18/12/2020 14:32

no mention of interconnectivity either....we did not get much that was new in this RNS

[leoneobull] 18/12/2020 14:32

Did you make up 10 billion shares at 1p? Don't forget, the big II holders especially CA are going to be fighting for equity....

[terminator101] 18/12/2020 14:31

"Well oversold"Utter waffle. People are selling because there's no future here for shareholders and they are salvaging what little they have left. Nothing to do with being oversold.

[leoneobull] 18/12/2020 14:30

What about Lincoln and Spirit? Interesting that no mention of this....

[tournesol] 18/12/2020 14:23

IMHO the most significant part of the RNS is the bit that says:-

.. This could add meaningfully to the production capacity from the existing 205/21a-6 well, accelerate production of existing reserves, and, depending on oil price, materially improve near-term cashflow generation.

This seems to me to be a tacit admission that the remedial measures will not increase existing reserves they will merely allow existing reserves to be produced faster than would be the case without the remedial measures.

Bearing in mind that existing reserves are just enough to allow production to be maintained for what? a year and a bit? (haven't got the energy to go back and check so relying on memory), what the above means is that they might be able to exhaust the reserves in say a year.

Which means they could hand the keys back a bit sooner than would be the case without the remedials.

What Hur actually needs is more reserves. Its existing reserves are not enough for it to continue as a going concern. The fact that they say nothing about measures to increase reserves speaks very loudly. And not in a good way.

[deltalo] 18/12/2020 14:20

Well oversold , this'll bounce next week.

[terminator101] 18/12/2020 14:19

Looks like those institutions that were in this are bailing out big time. Shareholders will have nothing left when the debt gets conversed to equity :-(

[ghhghh] 18/12/2020 14:16

Tournesol

It’s also glaringly obvious that the co has no confidence in its reserves figures and expects further downgrades.

Not glaring obvious to me?

What do you base this on?

The only glaring obvious thing that I can see is that we must wait for the Q1 CPR...

The Bulls will hope that this factors in CA's potential upside resources, the Bears that 'complexity' means downgrades

[leoneobull] 18/12/2020 14:02

Wouldn't want to be out of this over the weekend lol

[charlie88888] 18/12/2020 13:50

I do not understand people following shares on a daily, hourly, minutely etc basis.Every slight movement in the share price is dissected for reasons behind the movement!!!

[thegreatgeraldo] 18/12/2020 13:26

deltalo
18 Dec '20 - 13:17 - 22100 of 22100
0 0

, it's not going under as the forward plan is to increase production through 2021.



...What the company actually said in today's RNS....


..."While several development options continue to be evaluated, a side-track of the existing 205/21a-7z well to an up-dip oil producer location could increase oil production from late 2021. "


The sidetrack is not a definite yet & while it should produce oil, drilling is not without risk. Meanwhile, for at least the next 9 months, the company is extremely exposed to the performance of well 6.

I suggest you read this morning's RNS (all of it) a few times & digest what the company is saying.

[tournesol] 18/12/2020 13:21

It's also glaringly obvious that the co has no confidence in its reserves figures and expects further downgrades.

[tournesol] 18/12/2020 13:19

I would say though that today's rns is a clear and long overdue admission that the co is in an existential crisis. Profit warnings typically say that trading is disappointing. Today's rns is far worse than that. It says that the co does not have the means to do what is needed for survival and is dependent on its creditors. That has sadly been glaringly obvious for some time but many people have remained in denial. They can't reasonably do that now.

[deltalo] 18/12/2020 13:17

To sell at today's level is just giving your shares away, it's not going under as the forward plan is to increase production through 2021.Oil is alot higher now and thats good for Hur with such a low cost per barrel lift.

[tournesol] 18/12/2020 13:11

HDI must say that today's news and share price fall is not good news for me or anybody else other than the tiny few who have short positions. I got Hur wrong. Badly wrong. And I suffered a substantial loss as a result. The fact that other people are losing money is not good news for me it's really bad.

[hiddendepths] 18/12/2020 13:09

raggedtp - thank you, very honest and self-exposing post. It was certainly a very credible story and, I believe, had an excellent chance of coming good. Maybe we both should have taken more heed of Rob Arnott's abrupt departure. To my mind, it was a big red flag and I wish I'd called him to find out what he had to say. I knew him well in my oil analyst days and had a lot of respect for his integrity.

I wish you better luck in your future ventures!

[deltalo] 18/12/2020 13:07

Exactly, I'm not giving my shares away, the value is still many times the mkcap, and as stated there going to increase oil production through 2021, all is priced in now so fill ya boots I'd say

[raggedtp] 18/12/2020 12:50

Are you referring to me, Myrmatt? If so, all I can do is assure you I'm not a short seller. I don't even how to do that sort of thing.

All I am saying is that you are in the hands of the bondholders, and Richard Bernstein at Crystal Amber said in his last report that he regarded their stake as 'option money'. Fine, he made money trading it before. I think the option is out in two months. I may be wrong, but it's a relief to cut a long-term loss, when I had yesterday finally satisfied myself what to put any remainder into. With a nailed-on high yield. Remember, I am 15 years older than when the HUR story started.

[master of disasters] 18/12/2020 12:45

Mr The Abbot, I think I remember you on i3E, your niece of 8 years old told you buy at 30p and it went down to 3p.

Hope you have stopped getting your niece of 8 years now, to do stock picking for you.




the abbot - 13 Sep 2019 - 11:52:25 - 11861 of 18460 I 3 Energy - I3E




the abbot - 13 Sep 2019 - 11:48:06 - 11859 of 18460 I 3 Energy - I3E
My 7 year old niece says 32p coming soon then a steady rise from there after the company have given an full update post vertical seismic.

I guess she has a better handle on this than all the suddenly arrived moaners, its alright though, she tells me they will all be gone once the price starts rising and their fantasies are shot.

Apparently, she tells me I'm already invested so just stop reading the garbage and come back in a few weeks time - less stressful she says - amazing how astutue children can be.