Hurricane Energy Share Discussion Threads

[royaloak] 21/10/2016 16:57

8craggle

I had an email from IG today informing me of my entitlement in the Offer for shares I hold in an ISA with them.

I originally joined IG to trade CFD's with direct market access. They then offered ISA's also with DMA, so I opened an ISA account with them, I have been very impressed.

[laserdisc] 21/10/2016 16:38

40.75p UT close. excellent week have good week-end all and well done management

[8craggle] 21/10/2016 16:15

Hi I trade with iweb has anyone got any info regarding the open offer shares yet? Have to give em a ring Monday if they haven't got there finger out by then. Gotta say Dr trice has done very well when it comes to raising cash on the last 2 occasions. The institutional investors seem to have faith in him. Also looked after us long term holders with the open offer although would have liked a few more at that discounted price. GLA

[terry hardacre] 21/10/2016 15:57

Shifting northwards now it seems. The market is giving its judgement on this placing, and I'd say it approves. I suspect a little weekend press and discussion will set this to open higher still on Monday morning.

To rephrase a popular cliche - I would want to be buying my shares here this afternoon and not after the weekend ;)

[brahmsnliszt] 21/10/2016 14:08

very promising indeed. nothing to add to whats being posted here, lse and iii and a poster on there actually posted something that I had thought of last night in retrospect

'It would be embarrassing for the BOD if they had to face the shareholders on Nov. 7th to propose a placing at 34p if the share price was 60p wouldn't it...................Just saying. '

no wonder it appears a lid has been kept on things. Makes sense.

[kooba] 21/10/2016 13:54

Malcys blogHurricane Energy- The more you look at it the bigger it gets....The Hurricane announcement came out yesterday just as the blog was going to bed but there is nothing much to add although I had a very useful meeting with CFO Alistair Stobie this morning to tie up a few loose ends. There was very substantial over-subscription and the shareholder register has some very serious names on it which is just what they deserve. Whilst it must have been tempting to raise more, it is what they need for this two well programme and the speeding up of the EPS process and I applaud their restraint. Looking at numbers, whilst the company are now on 300m barrels I am increasingly of the view that my 400-500m range is looking conservative, the bottom end is rubber stamped, the top end could be much higher. Just make sure you climb aboard the Open Offer...

[garymegson] 21/10/2016 13:54

Hurricane Energy PLC’s (LON:HUR) strong institutional investor support puts it in a position of strength for future farm out talks, says stockbroker WH Ireland.

The North Sea oil firm on Thursday announced a £70mln share placing, backed by its cornerstone private equity shareholders, which will see the group accelerate the development of the large Lancaster oil field in the West of Shetland area.

This injection of cash also allows Hurricane to keep the Spitsbergen Rig in the water for two new back-to-back explorations wells, getting underway as soon as next month.

“The fundraise suggests the company benefits increasingly from wide institutional support which means it is in a position of strength relative to potential farm-in partners,” said analyst Brendan Long.

“The open offer for essentially retail investors will be appreciated by smaller investors who supported the stock at its lows.

“Despite some misgivings we might have, Hurricane continues to surprise us positively and we are delighted to see public equity market support for this pioneering company.”

Long added: “We are a bit surprised that funds will be applied to drilling more exploration wells before the Lancaster reservoir is fully delineated.”

The analyst also highlighted his expectation that Hurricane would further increase its estimate of Lancaster’s size. He said: “Every indicator suggests that the company’s 300 mmb of recoverable oil estimate for its planning purposes will be revised upwards.”


www.proactiveinvestors.co.uk/companies/news/167760/broker-says-hurricane-energy-is-in-a-strong-position-for-farm-out-talks-167760.html

[investment dave] 21/10/2016 13:04

breakout higher looking all the more probably now

[cashandcard] 21/10/2016 12:54

I see it as; prove up Lincoln then follow-on with immediate Warwick well to double up results. If Lincoln results do not come in as expected, leave Warwick & try another similarly risked target/prospect. If they go after another target, it will be interesting to see where the well is located.Cash

[leeson31] 21/10/2016 12:42

two spud wells in the near term, farmout new, and a CPR... even thats got to be an opportunity for buyers now thinking Jan/Feb...

[kooba] 21/10/2016 12:38

Kdr248Thx for highlighting...the man sounds very confident.Lots of newsflow.

[puzzler2] 21/10/2016 12:21

My thoughts following yesterday's RNS, for what they're worth, are that CA and Kerogen want the plan execution to go full speed ahead, with a view to proving up key reserves and maximising value as quickly as possible. If the Lancaster, Warwick and Lincoln drills all result in CPRs showing substantial resources and with the company on track towards first oil with a farm-out secured, then that is when I'd be looking to sell if I were CA or Kerogen - so by mid 2017 IMO. As for price, because of my large holding, I'd be comfortable with 95p and delighted with 150p.

[kdr246] 21/10/2016 12:07

Chief financial officer Alistair Stobie tells Proactive: ''We were genuinely thrilled with the quality of the institutions and the amount of demand we managed to get in this raising. It's a real thumbs-up for what the company's managed to achieve this year''.Interview on Proactive just sent out

[leeson31] 21/10/2016 12:06

fair doos :-)

Im looking fwd to the november spud of Lincoln.... theres already 2P 150mmbo there from the CPR


and intteresting to note that Warwick contingent resrouces is not in the current CPR figures:

The Warwick prospect was not included in the CPR because the Company did not have the applicable licence
at the time. However, based on assumptions derived from the results of the Pilot Well and the work
undertaken for the CPR, the Directors believe that the Warwick prospect may have unrisked Prospective
Resources of up to approximately 250 million barrels assuming, as the Directors believe, the Warwick
prospect is analogous to the Lancaster field.

----

but theres potentially a shed load more reserves here too!

[ltinvestor] 21/10/2016 11:55

I think that CA and Kerogen will make the decision for us.I shall follow there lead...LT

[leeson31] 21/10/2016 11:53

my intention at present is to re-asses post Lincoln, where i feel the Sp wil be considerably higher. Subject to good success on Lincoln, then ID hold for Warwick..... if continues to be good then continue to hold....

i wonder at what point the co. 'might' be taken out? would say Shell or come co. want HUR's assets after only lancaster, or after both lancaster and lincoln, or only after Lancaaster, lincon then warwick? or after whirlwind or typhoon..... too hard to tell in my logic, so i think as long as share price reflects the 2P's or NAV on lancaster then lincoln, then id think the share price will be around 150p - that'd do me to be honest.

cheers

[puzzler2] 21/10/2016 11:49

Me too - as I've said before, CA and Kerogen will sort the exit.

[ltinvestor] 21/10/2016 11:43

Leeson I'm here till the the day the company is bought out...LT

[leeson31] 21/10/2016 11:34

i think we'll have to agree to disagree...

what im more focussed on, is the progression of Hurricane, which is now enabled, and I believe the share price will reflect the growth accordingly, irrespective of speculation of percentages of honourable city folk from speculative conjectured placing positions.

Prior to Lancaster, HUR had a lot of potential, givens its 6 assets, zero debt, and cash from the 15p placing priorly. Since it 'hit' at Lancaster, and selected and subsea provider, and flow tested at 14,500 stock tank b/d, the co. now doesn't just have potential, it's materially derisked itself, thus the share price is reflecting that. I.e the share price was 24p prior to initial lancaster news, now ~40p.

It then needed funds, for the best of reasons, not cash burning or going down the pan, but needs funds for what has transpired to be a rather large field of oil, and accordingly, the investors and other Blue chip investors want in; in an over subscribed placing!

From hereon, I believe the share price will continue to reflect the derisked 'potential'.

We have Lincoln next, this is 7km from Lancaaster, and can materially further derisk the co, and again, the SP/mcap will reflect said progress.

So you see why i dont care about flipping of stock on speculation, because the trend is your friend, and its up, and HUR imo is right up there with the best of stocks with huge potential.

Cheeers

[laserdisc] 21/10/2016 11:28

Looks good bids on l2 looking for a good mid day auction

[ltinvestor] 21/10/2016 11:16

There is a seller in the market.He has been there for several months now and the mm's are managing the situation.He will eventually be out and the share price will move to a more realistic level imo LT

[davidblack] 21/10/2016 11:16

On the amount that gets flipped I agree we can exclude the two big existing players so that leaves 120m shares placed elsewhere.

If just 10% of that is flipped that's 12m shares that need recycled which will only take a couple of days.

So if my "Guess" was accurate it would mean that only 6% of the 200m shares were loose or 94% of the placees were honourable. That would be a good number of honourable people for The City.