Hurricane Energy Share Discussion Threads

[laserdisc] 20/10/2016 19:45

Lt it will be at the upper end as ca will want out eventually a buyout could possibly be the ulitamate aim

[terry hardacre] 20/10/2016 19:34

Thanks for the thoughts chaps - it's a minor consideration anyway, much more interesting stuff to contemplate here!

[terry hardacre] 20/10/2016 19:33

Thanks for the thoughts chaps - it's a minor consideration anyway, much more interesting stuff to contemplate here!

[damac] 20/10/2016 19:32

Untapped North Sea oil and gas is 'significant opportunity'

19 October 2016

The Oil and Gas Authority (OGA) has published research drawing attention to the potential of "small pools" of oil and gas in UK waters.

It described the estimate of more than three billion barrels of oil untapped underneath the UK continental shelf as a "very significant opportunity".

The OGA said the North Sea could have a new lease of life if the small pools are successfully tapped.

It warned, however, that new technologies may be required.

OGA head of technology Carlo Procaccini said: "We recognise the challenges operators are facing to develop these marginal oil and gas accumulations. Small pools represent a very significant opportunity to maximise economic recovery from the UK continental shelf.

"Technology has an important role to play to reduce the cost of development wells, design optimised subsea infrastructure to existing host facilities and develop efficient standalone concepts.

"We are committed to working together with the industry, the Technology Leadership Board and the new Oil and Gas Technology Centre (OGTC) which has dedicated one of their Solution Centres to unlock the small pools potential."

The new publication from the OGA follows a series of events it held last year focussing on "small pool" reserves of oil.

These were led by the National Subsea Research Initiative (NSRI).

NSRI project director Dr Gordon Drummond said: "Small pools have a national importance in terms of maximising economic recovery and they must be considered as an industry asset if they are to be capitalised upon.

"Following an extensive mapping exercise, we now know exactly where these small pools are located and what is required to unlock their potential.

"If the subsea industry can rise to the challenge of economically tapping into these pools, the North Sea could have a whole new lease of life."

Dr Drummond added: "Technology is only part of the solution, the industry must be much more receptive to innovation - there must be a willingness to work more collaboratively on multi-field applications and on access to infrastructure."

[cashandcard] 20/10/2016 19:17

It's all falling into place. We have 2 further wells to capitalise on success from Lancaster 7wells, one of the conditions for placement funds is that there is not major change to revised rig contract.Reading through the RNS, I found it interesting they mention targets in areas contiguous to GLA if they forego Warwick prospect. What does it mean? Drilling a target on an area held by competitor? Drilling on expected new licenses (applied for?) PMO and BP are license holders surrounding GLA. There would have to be a F/I for that to take place. I note the incentives scheme mentioned further down in the RNS to further align management with shareholder interests is a positive.Whilst not really excited about the 76/1 OO, I'm just happy they have the money to build on current momentum. Plus they are certainly getting into higher gear ready for the EPS.Cash

[rayrac] 20/10/2016 19:14

76,000 shares divided x76= 1000 open offer shares...take 'em and run? You can subscribe for any not taken up (unlikely)?

[ltinvestor] 20/10/2016 19:10

800mb 2-5$ per barrel = 1.6 to 4bn $ LT

[talkman2] 20/10/2016 19:07

If HUR has say 800 million barrels recoverable ( it could be 1 billion ) from its prospects ( Lancaster , Lincoln and Warwick ) what is the value to HUR in money terms .

Can someone have a guess at the sums and value ?

[laserdisc] 20/10/2016 19:06

NAO thunder left Aberdeen 5pm on its way to the rig How exciting another 2 months.of boat spotting

[talkman2] 20/10/2016 19:00

Thanks prefab .

I think today's RNS is a game -changer . With 2 significant extra wells potentially adding significant value ( possibly another 500 million barrels ) you can see where the share price is now heading . I expect this share price to double from here .

[prefab] 20/10/2016 18:54

This part of the RNS re EPS funding I found interesting.

'Hurricane is considering a range of financing options for the EPS phase of the Lancaster development and currently intends to finance the EPS via a combination of some or all of the following options: equity, production pre-payment facility, deferred vendor finance, deferred yard and fabricator finance, hybrid ownership of the FPSO, export credit agency guarantees and farmout.'

[prefab] 20/10/2016 18:52

Talkman2 - No, you'll be able to apply for around 1000. 1 share for every 76 held I believe.

[talkman2] 20/10/2016 18:47

How will the open offer to shareholders take place . I have 75,000 shares as of 18th October . Will I get the opportunity to subscribe for 75,000 shares at 34p ?

Will there be scaling back ?

Thanks .

[mirabeau] 20/10/2016 18:41

For the patient, the rewards should prove impressive

[jacks13] 20/10/2016 18:33

They'll be held in the name of the respective nominee presumably, TH. But even if the nominee is the same for both accounts I doubt it could be done. If you were able to request paper certificates in the time available you might still fall foul of not being named on the register on the record date.

[gibso6767] 20/10/2016 18:29

Doubt it , but here's a question if like many your entitlement in your ISA is full do you cannot add anymore to it and you also hold HUR shares in a sipp and other shares account can you apply for the shares in either sipp or other acc not ISA

[terry hardacre] 20/10/2016 18:18

The OO doesn't really amount to a hill of beans in the grand scheme, but casual question; I've 2 accounts TDW and Barclays in which I hold my HUR. TDW is ISA which is full - anyone know if I can get the allocation in the one account?

[geordy2] 20/10/2016 18:12

Jacks

Thanks G2

[kaytom] 20/10/2016 18:08

Record Date for entitlement for the Open Offer was 6.00 p.m. on 18 October2016

[geordy2] 20/10/2016 17:49

where is it stated that the open offer will be 1 share for every 76 held ?

[jacks13] 20/10/2016 17:32

From p9:

‘Hurricane is considering a range of financing options for the EPS phase of the Lancaster development and currently intends to finance the EPS via a combination of some or all of the following options: equity, production pre-payment facility, deferred vendor finance, deferred yard and fabricator finance, hybrid ownership of the FPSO, export credit agency guarantees and farmout.’

Reassuringly, no mention of debt via bank facility or corporate bonds.

[pounddreamer] 20/10/2016 17:10

OK shegnanigens this week me thinks - first signs for me of leaky ship syndrome and things should have been handled better. Wonder what Dr T thinks?
Given the fact that HUR have had to move up a few gears and things had to be sorted PDQ with the rig/kit/resources all in place maybe the reigns slipped a bit. Bottom line is there really is a very good chance of massive amounts of the good stuff being proved up before year end. Onwards and upwards.

[laserdisc] 20/10/2016 17:00

Volume. Over 9mil and trades still to come through