Hurricane Energy Share Discussion Threads

[senseman] 07/9/2023 19:38

Laser - Do keep on eye on those aspects if able, and post when appropriate. Though boards quiet, more than a few of us will monitor, and not just for intellectual curiosity. Any skullduggery re accounting, production & DCUs may reopen a door, especially if CA are batting straight and have not done a DCU deal with Prax. Regards

[laserdisc] 06/9/2023 20:13

next uplift should be around 1st October (subject to maintenance ops)) which will run for 2 weeks i est.
Prax have had proceeds for 1 offload in July, not sure of actual date of DCU interest payment i would have thought by 10th October, then they can incorporate proceeds of proposed October lift. Otherwise we wait for Prax to issue 2023 annual results and see what figs for P6 well have been incorporated in their accounts

[janekane] 06/9/2023 19:24

When do we get another payment

[laserdisc] 06/9/2023 16:33

the original hurricane takeover presentation was previously on their website there was an audio to convince shareholders the best deal was chosen, i don.t think its avail now, i kept a copy of their figures, these figs were shown in presentation at $80 oil . So as long as Lancaster continues production

Returns to Shareholders for 2023 2024 2025 2026 expected
Prax Offer FOR THE
(Lancaster Revenue Only) was 6.29p 1.21p 1.13p 0.35p in addition if prax use the tax losses they obtained from Hur then we should expect more

the more Brent rises Above $80 the better for holders of dcu's as the Lancaster revenue when above $80 should be pure profit , all overheads production costs etc have been covered in above figures when it was calculated at $80

last sat supply boat attended AM just the norm with supplies

[senseman] 06/9/2023 16:10

Courtesy of Senseman LSE

BRENT $89/$90 Today 16:08
Current situation

1) HMRC ruled DCU’s not retainable in ISA, thus taxable. Considerable loss to most PIs. A flawed decision. But what PI can fight HMRC?

2) Tories announce 100+ new N. Sea/ Shetland licences to be issued. Prax to revisit P8? And utilise other Lancaster resources? Tories blinked first - Labour will not reverse licences decision.

3) World oil consumption new high. OPEC+ extends production cutbacks till end 2023. Overdue supply crunch begins to bite. IEA revise POO estimates upwards. Standard Chartered & others forecast $90 Brent 2023 Q3, continuing through 2024 with $100 being visited.

4) P6 continues problem free. Brent today $89-$90. HUR/ Prax P6 standalone figures set to be proved fairy tale by Xmas.

[wbodger] 05/9/2023 15:55

Hmmm. I think to get 6.48 Prax have to invest in their Hurricane division. My numbers don't work for 6.48 by end-2026.

Imagine if they could buy Shell's interest in Buzzard (22%, which came over with their BG acquisition, and must have been written off now). CNS, oil could be tankered to Humber refinery, priority access because Prax own it. And Shell might accept payment from Prax's entitlement from Buzzard. That also uses the Hurricane tax credits.

[fat frank] 05/9/2023 15:23

If we are to receive the 6.48p maximum over the 3 years it has to be 1.08p per half year

[wbodger] 05/9/2023 15:13

As a Crystal Amber holder I would like to hope it is that high, but I have been working on the illustrative figure Prax issued before the EGM, quoted in laserdisc's #37754 above: about .27 pence. Quarter of a penny per half-year.

Where do you get 1.08 pence from?

[rahosi] 05/9/2023 09:29

Ballpark figure for cash flow purposes. What is reasonable to expect as DCU income, twice a year? 1.08p?

[rahosi] 18/8/2023 10:48

Interesting. I already have an account with XO / Jarvis, where our DCUs reside.

To deal in the DCUs the Prax site says:-
Trading with JP Jenkins Traditional

To trade in these shares, please instruct your existing broker or directly place an order through sharedealactive.co.uk. JP Jenkins regularly trade ordinary shares of each company listed, but of course some are more liquid than others.

The sharedealactive site says
Have any questions?

Email us: [e-mail]
Call us on: 01892 700800
Write to us:

shareDeal active
Jarvis Investment Management Ltd
78 Mount Ephraim
Tunbridge Wells
Kent TN4 8BS

Which is the same as XO !

However for me to buy more of the DCUs, I would have to do it through ShareDealActive rather than XO.

[wbodger] 11/8/2023 19:09

I think most people who have DCUs are going to hang on and trust the process. Prax have good business reasons to keep to their plan, and keep Lancaster going.

[laserdisc] 11/8/2023 17:01

Thanks wbodger seems so.All my dcu 's prev in my ISA have now been moved to a trading account by iii. Next payment expected late Sept 1st week October should be around 0.027p per dcu .

[wbodger] 10/8/2023 22:02

laser, re 37742, check out LSE Chat board page 2, poster Kever posted on 18/7 at 17:36 that he had an order for two million DCUs. "No takers" then, but perhaps one million three days later?

[senseman] 10/8/2023 17:11

some perhaps useful dcu and tax comment over on lse after 6 weeks of it principally being occupied by the usual negative suspects

[senseman] 10/8/2023 10:24

jacks - much appreciated. spot on

[jacks13] 10/8/2023 08:52

at bottom of screen;

Field Production Data, PPR (WGS84) select: 'Options'
from the drop-down menu select: Filter

A dialogue box will then appear, select: 'Add expression'

In the left-hand drop-down box select: 'Field name (String)'

Then in the third box type in Lancaster and click 'OK'

The data for Lancaster will appear

to download the data;

Select 'Options' again and choose 'Export all to CSV'

[senseman] 09/8/2023 22:07

jacks - can you give me a pointer on how to find hurricane via the link you posted? doesn't seem very user friendly. much appreciated

[senseman] 09/8/2023 15:16

Courtesy senseman LSE
RE: REFLECTIONS Today 15:15
And for the record - neither details nor evidence was ever provided of the purported '7.8p unsolicited offer' rejected by HUR which provided the justifying rational for the Formal Sale Process to be instigated. Given the absence of such (without good reason), I have no faith that any such offer was received. Alternatively, that if one was, it was a bogus bid instigated by agreement with another party in order to provide justification for an FPS to be conducted.

[jacks13] 09/8/2023 13:48

"continues pumping away like a good 'un". It looks that way; Prax will have done their due diligence. The latest available numbers from North Sea Transition Authority are for May 2023. They reported oil production at 7,345 bbls/d and water at 8,577 bbls/d (c54% water cut). Good for another year or three it seems.

I believe things would have turned out so much better and we who were invested at the time could have been so much wealthier had Well 7z been drilled with more care. Trice's geology was sound, it was the engineering that failed in my book.

[senseman] 09/8/2023 12:46

Courtesy senseman LSE:-

REFLECTIONS Today 12:44
So disgusted at Prax being gifted HUR, first time logging in for weeks. And so things begin to play out confirming worst fears:-

DCUs - Since HL messaged clients on 18 July stating DCUs can't be held in ISA, most of us will get tax-stung. For thoroughness am awaiting phone call from HL confirming HMRC confirmed such in writing to them, but regard the call as formality.

BRENT - today$86.7 & slowly creeping up as supply tightens. I expect it to be clear by early 2024 that HUR's P6 standalone figures were fairytale, and markedly greater than Prax's slightly higher promised P6 figure.

LICENSES - scared of losing election, Tories blinked first and will issue 100+ new N. Sea/ Shetland licences. Labour, if it wins election, won't reverse licenses decision as would have done similar post-election win. Let's wait to see if P8 now revisited, + other goodies spring up to help now privately owned HUR make a fortune & rub our noses in it further.

DCU's again - some will argue HUR doing well enables us to get full DCU money (less tax). That may be, but why should we be grateful for a shilling when a pound was stolen from us? And remember there is often a slip between cup and mouth.

P6 - continues pumping away like a good 'un, problem free

[porrohmahnn] 08/8/2023 15:27

Another follow-on question.

Will the DCU payments take account of oil produced or just oil delivered by tanker, sold and paid for? If it's the latter, there might be no incentive for Prax to collect a final tanker-load towards the end of 2026 and it would make the DCU payments quite volatile from one period to the next.

[ifaze] 08/8/2023 15:12

Not seen anything Porrohmahnn. I am relying on someone here posting that they have had something paid into their account so I can then tell Barclays ThickInvestor to pull their finger out and give me my money.

[porrohmahnn] 08/8/2023 14:50

Ref Laserdisc's message #37730;

Have we been told when / how the DCU payment amounts will be communicated with DCU holders and what verification, if any, will accompany the declared payments?

The first payment is supposed to be made by 30/09/2023 with subsequent payments at 6 month intervals until 31/03/2027 but, given that this is an unusual arrangement, I'm anticipating that there might be more of a delay than with normal share dividends before the proceeds reach our share trading accounts / SIPP etc.

[laserdisc] 02/8/2023 15:36

someone bought DCU's on 21/07/2023 1,007,585 @1.77 GBX

[impvesta] 02/8/2023 08:55

"If hurricane shares were held in an Isa,the allocation of dcu’s would have been credited into the Isa but the Isa manager will remove them and credit them to a trading account.
II Lloyd’s and Barclays have already either done this or stated that the dcu’s are not eligible to be held in an Isa"

As have HL. They have said they will move DCUs from an ISA into a Fund and Share Account soon after 31st July.