Hurricane Energy Share Discussion Threads

[cyrilsneer1] 11/10/2021 11:56

Poo at $84.5 and peeps are selling, I give up.

[kooba] 11/10/2021 09:50

Monthly production update before end of the week? Probably combine with the interims … “As such, the Company anticipates releasing its 2021 interim report and half-year results on 14 October 2021.”
Wonder how upbeat they can make these updates..Antony Maris CEO of Hurricane commented ..this time next year year we will all be millionaires.
Or perhaps go on about the small chance of unmanageable production when we reach bubble point in almost 6 months time..that we have already got agreement with OGA for continued production?
Having mentioned the Bluewater contract extension and ongoing talks for months what are the chances of them actually bringing a deal to shareholders??

[officerdigby] 11/10/2021 09:32

Looking like 5p+ with the news.I don't like to ramp.Wonder if they'll be sucker line in RNs to keep share price down.Never know it might be tonscare B/Hs. Perhaps the CEO.actually wants equity to win and.is playing a long game here.Stranger things have happened

[luckyjoe999] 11/10/2021 09:14

Post from lse bb today:

y11-shx
Posts: 822
Price: 4.04
No Opinion
Today 04:48

RE: Money in the bank

“Hurricane energy asserts alone are worth 3 x the current market cap! And that’s with out one drop of oil been pumped. Just a short wait now for a re rate back to something more realistic like 20p now the world has realised oil is not dead after all and in fact a massive investment is need to keep up with demand.”

[sji] 11/10/2021 09:14

ngms27: Or it suited them well to show that HUR will NOT have enough funds to settle the bondholders, so they could give them the whole company for free!

I agree that one should investigate in detail our previous BOD's actions during the last 8 months! They thought that HUR was unable to pay in full the bondholders by July 2022 and yet, they agreed to spend $17m in professional fees for the failed restructuring plan!

[kooba] 11/10/2021 09:08

They may have just signalled a lower case scenario to support the restructuring ...as if !I can see further spike in oil ..gas (wholesale up 5 fold) and coal prices seriously spiking and in grab for energy security ahead of northern hemisphere winter can see national hoarding.If the cold winds blow still think $100 strong possibility ..if it got there should lock in a few months production which would secure the redemption.

[thecomposer] 11/10/2021 09:03

Brent Up Again Today circa 2% Now Trading At ~USD $84 While HUR Market Cap is Unbelievably Still Only ~£80M!

Markets always adjust overtime, and the very much suppressed HUR MCap (by Ex-BoD) here will certainly not stay this ultra ultra low for long, DYOR:

hxxps://tradingeconomics.com/commodity/brent-crude-oil

[bocase] 11/10/2021 08:57

I think we will see POO a lot higher yet!

[ngms27] 11/10/2021 08:36

sji, the old BoD may have been inclined to keep the choke closed a notch or two to prolong reservoir life based on price projections at the time. It maybe that this BoD are going hell for leather whilst we have high POO.

Thus you cannot really compare the two without additional information that isn't in the public domain.

PS I think I'd be going hell for leather at this POO.

[kooba] 11/10/2021 06:30

Brent Crude 83.77 +1.38 +1.67%

[magnusprinceps] 10/10/2021 08:51

sjiYou have provided a more defined overview, re. the water cut, for which you are to be thanked.Having invested and currently under water - oops, no pun intended - this all of a sudden looks as though an opportunity is presenting itself, saved, as we just may be, by the strong price of oil and the disentanglement of a financial structure that appears to have been heavily biased against the common shareholder!

[sji] 09/10/2021 22:46

ngms27: You are right, in September 2021, HUR was producing c.10,800 bopd with a 33% water cut.

Now, compare that with what our previous board forecast in their Restructuring Business Plan dated 24 May 2021 (when they wanted us to give away HUR to the bondholders for nothing).

For September 2021, they forecast production at c. 9,400 bopd and an estimated poo of $67.4/bbl! So, we are over-achieving at a rate of 14.9% at production (or 1,400 bopd) and another 22% on price of oil(at $82.2). So, we are currently earning c. $20k extra daily above their forecast.

Once bondholders are out, expect plans on how HUR intends to take corrective action to get much more oil from the Lancaster field. IMO, we should be there within the next 6 months if things continue as they are now - gradual reduction in production from P6 and Brent remaining substantially high.

[ngms27] 09/10/2021 22:05

H2owater, wrong the latest production stated was:

As of 15 September 2021, Lancaster was producing c.10,800 bopd from the P6 well alone with an associated water cut of c.33%.

Let's not try and mislead.

[kooba] 09/10/2021 18:23

If they want to convert I'd be delightedInitial conversion price at issue US$0.5200Currently i would say its too close for them to try anything..but if there were issues on production or poo..they will undoubtedly try something..the high court though has clipped their wings so i believe their options are very limited for now. My feeling is that they (AHG) are mighty peeved with Crystal Amber for spoiling their cunning plan so are waiting in the wings to make life difficult. The buyback , good production numbers and oil heading over $80 giving a clear route to repayment for now means they are toothless.

[laserdisc] 09/10/2021 15:59

a fast improving cashflow now, i remember way back when they said main objective was to strengthen the balance sheet. Chaffe said only consider a further spend on rigs etc when oil above $43 and free cash increases

[sji] 09/10/2021 15:50

According to my rough calculations, once we get paid from BP for this offload, our cash position will be back above $100m.

In 6-7 weeks' time (end Nov/beg. of Dec), if well continues to perform as expected, we should have our next (26th) offload which will take us back to about $130m in free cash. IMO, by end December, HUR will be in a position to consider a second bonds' offer at an improved price. Only $152m convertible bonds still outstanding now.

Once we get rid of the bonds, HUR's prospects will be substantially improved and so, will its share price.

[laserdisc] 09/10/2021 15:37

excellent offload ,supply vessel has been waiting for departure, would agree full load , was in port over 28hrs, due rotterdam monday afternoon a 24 hr slot allocated @ terminal jetty1 allocated Maasvlakte Oli

edit vessel had a 3.2 draft increase 12.3 from 9.1 = 525,000 b of oil edit confirmed eventually in rns 14/10 offload was 525,000

[sji] 09/10/2021 15:26

PetroAtlantic is finally about to leave AM having spent over 24 hours hooked I guess. Laserdisc will have more precise details but I guess it's another full load as the last one, c. 505K!

Draught increased to 12.3m from 9.10m.

The only difference will be the oil price. This time much higher, some $10 per barrel more!

[bobsworth] 09/10/2021 13:27

Having emailed myself, my wife and my son who are share holders too have both emailed as well. I sense from their reply that an investigation will take place. I hope this happens and justice is finally done.

[senseman] 09/10/2021 11:52

Bocase - many thanks - see 11.47 am post - 100 EMAILS REACHED. Omitted in error thanks to ADVFN who chipped in and got us there sooner- will correct. Note - SH should still email is so minded - in these circs the more the better. These emails WILL make life easier for 2 new NEDs

[bocase] 09/10/2021 11:42

Senseman: I have sent the supporting email to the two NEDs.

Thank you for initiating this.

[senseman] 09/10/2021 10:34

anyone else from advfn care to stop up and help us over the line to magic 100 emails sent to neds supporting CA formal request for investigation into old board & bondholder scam plan naughties? - we are currently at 99 emails sent - for draft email text & 2 new ned email addresses for sending see today's LSE forum senseman post 08.28 am

[senseman] 09/10/2021 10:21

welshwiz - forum thanks from lse - will post on lse - we are now at 99 emails just 1 short of 100 target and job done. up the welsh! (am welsh

[welshwiz] 09/10/2021 09:03

Anyone who posts on LSE ?
I have sent an e-mail in support of investigation requested by Crystal Amber to the 2 NED's
Good work.