Hurricane Energy Share Discussion Threads

[kooba] 14/10/2021 08:16

It is firmly an issue..there is no opportunity to find a replacement vessel ..i would like that risk taken off the table and then can extrapolate some production numbers going forward to second half '22 and into '23 .Think that certainty would be reflected in valuation imo.

[mirabeau] 14/10/2021 08:11

The FPSO issue is a non-issue. Bluewater cannot simply detach the vessel from Lancaster, reconfigure it at hefty cost and then look for another customer. I suspect you'll see a rolling contract of some form which is perfect for HUR as it means not being tied to a long term FPSO contract

[nufcfan] 14/10/2021 08:10

Imo Maris needs to be outed….he has outstayed his welcome and was leader at the time of the ex-bods shenanigans…i agree that he is unlikely to be running ops atm ….

[wbodger] 14/10/2021 08:06

But there's the point. San Leon Energy was suspended six months ago and are functioning well enough without their AIM listing. When they come back there will be a new quotation, and a very different company. Now that the cram-down has been seen off we don't need a CEO who has not agreed heads of paragraphs with Bluewater to continue using Aoka Mizu at least to the extent of the Lancaster licence. At least Wolfe may help get the bond situation resolved - they should already be talking to finance houses about an extension.

[cyrilsneer1] 14/10/2021 07:58

Mr Wolfe is going to blow the house down. Very strategic move, I wonder who was behind parachuting him in, and why?All to revealed......

[mirabeau] 14/10/2021 07:57

I'd bet that Maris is no longer in charge. He's become a mere regulatory necessity

[bobsworth] 14/10/2021 07:54

Wbodger "Maris still does not seem to be committed to the original project I invested in and I want to see the back of him."

I totally agree. I have no confidence in him at all.

[kooba] 14/10/2021 07:51

My only disappointment considering the much improved financial position is that the Bluewater contract is still not agreed..the board are maybe playing a clever game on timing and comment that the talks continue and are positive but a key to unlocking the inherent value to shareholders is securing the Aoka Mizu to continue production past June.

[wbodger] 14/10/2021 07:51

I know the CEO has to be cautious but I found Maris's words grudging. No admission that the application to dilute shareholders by much more than 19 for one was way premature, he is still at war with his own shareholders. No acceptance that Crystal Amber's motion to remove directors was why we have new ones, nor that CA's stalwart defence of their own interests is why they haven't already been wiped out.

Maris still does not seem to be committed to the original project I invested in and I want to see the back of him.

[kooba] 14/10/2021 07:46

Interesting the appointment of Philip Wolfe.The company needed some City experience on board.Mr Wolfe undoubtedly has done his homework and must believe the company has a future i guess.Be really good to see some director buys as currently they have very modest holdings.

[bobsworth] 14/10/2021 07:44

Happy with that RNS
Onwards & Upwards
Future looks bright
GLA

[monkeybusiness1] 14/10/2021 07:44

An absolutely outstanding RNS, thank you very much to the New very proactive Hurricane Energy BoD here, and big shame on the extremely crooked, corrupt, and totally useless old Ex-HUR BoD who should all go to jail.

[kooba] 14/10/2021 07:34

Now think my prediction will be far too low...I'm pleased to say !The board have woken up and smelt the coffee. Lets get a business plan to build shareholder value. The bondholders are firmly back in their box as the board are clearly saying the business is solvent in the current conditions.

[lfdkmp] 14/10/2021 07:32

Maris couldn't quite bring himself to move into "transformational" speak. Suppose in that respect he has to acknowledge his involvement in the "challenging" past.

However the tone is transforming with (on first reading) no emphasis on doubts about well 6 future performance and the appointment of Philip Wolfe, there are green lights appearing and quite quickly.

Can see why CA have increased their already substantial stake.

[linz22] 14/10/2021 07:29

Yes, fantastic news, and marked change of tone.!

Now for the investigation to get underway, and let's see the jailings..

[mirabeau] 14/10/2021 07:27

I wonder if NSNL intend to become involved with HUR? -

---

North Sea Natural Resources Ltd announces a major strengthening of the Executive Management team

North Sea Natural Resources Ltd announces a major strengthening of the Executive Management team with the addition of ex Merrill Lynch, Deutsche Bank, HSBC, UBS finance expert – Philip Wolfe.

Philip has significant CFO experience with Soma, Phoenix and Madagascar Oil company explorers.

Philip brings substantial leadership, commercial and financial skills to help drive the expansion and growth of NSNR to a fully-fledged and ambitious North Sea focussed Explorer and Producer.

January 5th, 2021|News



Our vision is simple but ambitious:

To become a leading independent oil and gas exploration and production company

To achieve this, we are implementing an ambitious exploration and appraisal drilling programme across our license areas, capitalising on the experience of our team and our extensive knowledge of the regions in which we operate.
Strategy

Our primary focus is on the assets that we have, where our team has years of experience managing exploration, development and production projects. We concentrate on areas that are prospective for oil, in proven hydrocarbon regions and where we believe we have a competitive advantage.

Our team has the technical knowledge and experience to find oil and gas fields, properly appraise them so STOIIP and GIIP are correctly estimated production platforms are correctly located and so that the fields are produced and operated efficiently across the full life cycle of exploration, development and production.

A pivotal cornerstone to our company will be a new ethos. There will be geoscience and subsurface excellence at all levels of the company throughout staff, management and up to board level. This will be a strong success theme in the company and will lead to successful drilling outcomes.

The company targets for Exploration drilling will be 50% success ratio, Appraisal Drilling will be 60% success ratio and Development drilling will be 80% success ratio.

This new ethos is not entirely new of course. It has already been trailblazed by other well managed and successful IOC’s such as Kosmos Energy, Far Limited, Encore Oil and Revus/Agora/Origo for example. The difference for NSNR is we plan to keep interest in our exploration successes and appraise and develop them.

We will seek multiple oil and gas field assets to spread risk exposure, improve efficiency and achieve liquidity and cash flow for shareholders.

[tradoil] 14/10/2021 07:26

Walter Mitty

[nufcfan] 14/10/2021 07:25

Where’s our leader NGMS to tell us his pearls of wisdom after todays rns’s…..

[kooba] 14/10/2021 07:23

First time i have seen or heard this admission.."Whilst there remains uncertainty regarding the forecast cash available for bonds holders at maturity, at the current oil prices and based on current production forecasts the Company is anticipating that it may have sufficient net free cash to repay the Convertible Bonds at their maturity in July 2022 in full"There are some hints at future planning too ..third partner in GWA? You know i think the board as a whole is looking to the future!

[philwalker36] 14/10/2021 07:21

Philip Wolfe, impressive appointment. So I wonder if he was 'recommended' by CA. Breaks the potential board deadlock between the 'old' remaining board members and the more recently appointed CA recommended NEDsAltogether a bit more of an upbeat report.

[tradoil] 14/10/2021 07:20

Worth noting that 3 months ago we were in effect doomed. Languishing less than 1p with a 95% dilution prospect. I would personally like to extend my thanks to 3 people.Laserdisc - Informative no nonsense production and offload updates.Kooba - Stalwart of the board and rallying force in the face of the bond holders attempts to steal the company.Senseman - anti troll and fighter for shareholder rights.Cheers

[mirabeau] 14/10/2021 07:15

I can see a placing and maybe some asset sales which would be a real positive if it finally gets rid of the bondholders and provides capital for asset development which I suspect is why Wolfe is now on board

ex-UBS man,

Getting Hurricane back to investment class status is surely the aim though I suspect at some point you may see some form of corp acitivity

[tradoil] 14/10/2021 07:10

Indeed . That is very positive. Let's see NGMS negative spin on this one.

[mirabeau] 14/10/2021 07:09

And Wolfe on board as well...a proper big hitter

[tradoil] 14/10/2021 07:07

Any shortfall on debt repayment now expected worst case scenario to be bridged. Total change of tone. Let's go....