Hurricane Energy Share Discussion Threads

[officerdigby] 04/10/2021 18:12

ngms274 Oct '21 - 16:52 - 30286 of 30297
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It's only right and proper that those less knowledgeable on here understand what risk bubble point adds to HUR.

ngms - I get this yes. The point is about the executive selling the gas cap and producing below it as part of company saving plan when they wanted to sell the restructure now they failed, so the man in charge switches to the most negative outcome warning.

When indeed they could/should have read the runes and switched to equities side. And sell the the latest field plan to equity. Cheap new style RI perhaps at 5p to do something. Whatever it is, equity is clearly suckers for risk here.


Perhaps post bubble P6 could even be run as a stopped gas cap, that drives p7z.
With gas cap driving increase of reserves.

Increasing, beyond the increase not yet reported as a result of slower declines etc. LOL.

OK I'm quite new here.. We shall see. But at $80 oil the bonds will be gone significantly before the bubble.

[tradoil] 04/10/2021 18:08

Walter Mitty

[tradoil] 04/10/2021 17:52

I notice you are still waiting for an answer Kooba....I suspect you have rather stumped the genius !

[bearnecessities33] 04/10/2021 17:48

HUR institutional Shorters are all gone, Shorts here now stand at absolutely 0%, after all who would want to be Short HUR at this nonsense extreme lowball MCap with $82 Brent and new proactive management in place!

hxxps://shorttracker.co.uk/company/GB00B580MF54/

[tradoil] 04/10/2021 17:32

Kooba - it's a fantasist .

[bobsworth] 04/10/2021 17:17

Looks to me like the BOD owe shareholders an explanation for their recent bubble point RNS!

From what I have read, when the bubble point is reached the trapped gas in the oil expands and helps to further push out the oil from the reservoir. Therefore, all the time there is expanding gas escaping the oil flows more. Not less!

Example of a research article in

“For oil reservoir without dissolved gas (dead oil), oil recovery was 2–3% due to the limited reservoir natural energy. In contrast, depletion from live oil reservoir resulted in an increased recovery rate ranging from 11% to 18% due to the presence of dissolved gas. This is attributed to the fact that when reservoir pressure drops below the bubble point pressure, the dissolved gas expands and pushes the oil out of the rock pore spaces which significantly improves the oil recovery. From the pressure propagation curve, the reason for improved oil recovery is that when the reservoir pressure is lower than the bubble point pressure, the dissolved gas constantly separates and provides additional pressure gradient to displace oil. “

That said, I am no expert here, so I could be misunderstanding all this.

[kooba] 04/10/2021 17:13

It's only right and proper that those less knowledgeable on here understand what risk bubble point adds to HUR.You are putting yourself up as some sort of expert on this ..do you have professional experience in the sector?

[kooba] 04/10/2021 17:11

So pre hearing ..comment on OGA approval of production beyond bubble point 17th JuneAntony Maris, CEO of Hurricane, commented:"I would like to express my thanks to the OGA technical and management teams for the open-minded approach they brought to these discussions. This approval, whilst not having any immediate impact on the reservoir performance of the Lancaster field, will assist with longer term reservoir management, enabling us to optimise the field's performance. Approval now, while we still have some months before we reach bubble point, will allow both us and the OGA to establish base line performance and to test the three-month approval process."So ngms you reckon he should have thrown in a "well although this is good we could still be forced to cease production" back then ..it would have been more consistent ! Why now when the bubble point is now anticipated months beyond their previous thoughts?? This is a positive they have turned on its head..why??I understand that the risk of cessation of production or anything beyond a further minor choke back is considered very unlikely. So why the front and centre warning..its not consistent with previous messaging on this and unnecessarily hit the shares.

[tradoil] 04/10/2021 17:06

It's also only right that those who haven't realised you have no skin in the game , constantly push a negative bias and try to influence others understand what you are .

[tradoil] 04/10/2021 17:04

Zzzzzzzzzzz

[ngms27] 04/10/2021 17:02

Yes it could form a gas cap and yes that could be beneficial. However you won't get 9k bopd from well 6 on natural flow now due to water cut. Imagine the drawdown required and the liberation of gas into the well bore that would be beyond permitted levels.

[officerdigby] 04/10/2021 16:57

Hi ngms,Well if the bubble point does come after Q1 as now predicted.And the pump eventually has to be turned off they then will potentially be able to run freely producing with choke. at what 9k bopd? For months.Indeed it was part of the companies plan to do this... When the y were selling the restructure..!"..Plan to allow reservoir pressure to go below bubble point, as an emerging gas cap may provide a "piston" like effect where oil in the Lancaster field is driven into the producing wells..."..So apparently, it was an opportunity back then. Now it is field ending risk.Go figure!

[ngms27] 04/10/2021 16:52

The moment you post in such a manner you lose the argument.

It's only right and proper that those less knowledgeable on here understand what risk bubble point adds to HUR.

[ngms27] 04/10/2021 16:28

This highlights the potential issue with bubble point:
One of the limitations of achieving full potential in pumped wells is the presence of excessive free gas at pump intake. Presence of free gas at pump intake affects the pump performance negatively, reducing the liquid rates and the pressure added by the pump. This performance reduction may sometimes be quite severe, resulting in unstable pump operation, significant production losses, lower reliability and increased operating costs due to premature equipment failure.

The RNS was correct to point out that bubble point may terminate production from well 6 as oil production may go below commercial threshold and the ESP is more likely to fail.

[bobsworth] 04/10/2021 16:28

Chances of Brent POO hitting $90/barrel just got higher on OPEC ruling.

[cyrilsneer1] 04/10/2021 16:14

I completely agree, but it was stated in a way for maximum damage. What and why, we can only guess. If the next news is half decent this will fly, the POO alone is incredible and if I'm honest I didn't see it coming.

[kooba] 04/10/2021 16:12

I believe latest rns text relating to the bubble point was very badly communicated. The position is that the anticipated bubble point has been pushed back which is positive , they also have existing agreement on production with OGA and have previously communicated that production past bubble point manageable, the risk of a cessation of production is very very unlikely from what i gather yet they ended the text on that note. So what was a known known and already risk factored in is communicated as a negative when the very fact that the bubble point has been pushed back to the very end of 6 month window of guidance is negated. Don't think this executive know how to communicate a positive ..so used to talking it down to get the restructuring through!

[kooba] 04/10/2021 14:47

Crude Oil Brent - Cash price82.082.66%2.13pts

[kooba] 04/10/2021 14:44

Brent heading for $82...anyone short oil will be running for cover.

[kooba] 04/10/2021 14:40

Update (0900ET): According to leaked details from a delegate, the JMMC has recommended proceeding with a 400,000 barrel a day increase in November. As we detailed below, this is on the more bullish side of the possible scenarios.Brent is back above $80 and WTI is extending gains above $76.50 for now...https://www.zerohedge.com/markets/opec-meeting-preview-400k-or-800k-bump