Hurricane Energy Share Discussion Threads

[gibso6767] 02/11/2016 11:52

Leeson brilliant post , that looks a plan I'd be happy with .

Just finalised my OO , sold free 88E to purchase ISA , and took up other account plus £250 extra moves from SIPP .

That's it for now , hopefully news will be coming on a regular basis now to give a more resolute and defined plan of future events / timescales etc

[leeson31] 02/11/2016 11:24

indeed cash. they'll probly sell lancaster, but i suspect or hope, it'll be after the eps is up and running and lincoln been proved up materially.. if they then sell lancaster, they'd be cash'd up, and can develop lincoln to then sell, then continue the business model accordingly....

we need a hashtag... #intricewetrust lol

cheers

[cashandcard] 02/11/2016 11:16

Cheers lesson. Given the chairman thinks there is no reason why we can't replicate Lancaster success at Lincoln, puts all into perspective.Cash

[laserdisc] 02/11/2016 10:23

zz I looked yesterday morning has only moved slightly off bearing I had 601977at one point, we should see movement over the week -end SIEM GARNET some way from rig its making headway just out at sea past Kirkwall will be there later today

[leeson31] 02/11/2016 10:10

imo cash, post EPS, and further derisking from the lincoln well, then lancaster could easily fetch ~$1.5b on 500mmboe 2P's... $3/b usually id use 10pc of spot price, which right now is about $4.50

[cashandcard] 02/11/2016 10:04

Leeson,Excellent summation of the parts.I have a question for all, what is a barrel of Lancaster oil worth in a sale scenario?Cash

[leeson31] 02/11/2016 09:59

zztop: i dont think the OO shs are issued until the 9th too..

"Announcement of results of the General Meeting and Open Offer 7 November 2016" - from the circular on their website

i think its just small selling.....

[zztop] 02/11/2016 09:55

Thanks Lesson, seems peeps selling there oo shares?... Lots of small trades

[leeson31] 02/11/2016 09:49

spud on 5th nov, as per 'malcy' comment on the back of the tiptv interview with ceo trice..

shareholder approval for the placing on 7th, and shs officially issued 9th nov..

shud get a well update on lincoln late nov.... and hopefully further update dec.... aand theres a cpr in jan... the cpr will be very important, and imo will give the lancaster resrves a good boost..

officially, the data the latest investors of the 34p placing have is what we have, but i think its fair to say theyve been given an idea that lancaster is massive..

no probs cfro..

[zztop] 02/11/2016 09:44

Some say spud middle of next week?Is the rig moving yet?

[cfro] 02/11/2016 09:41

Leeson31,

Thanks so much for your brilliant synopsis above. I am new to HUR so that is a massive help.

[garymegson] 02/11/2016 09:40

okay cheers. I don't believe they have that much but without knowing what deal they have on the rig I cannot dispute it.

[leeson31] 02/11/2016 09:38

from the ~£50m placing rns:

The net proceeds of the Kerogen Subscription and the Placing will be used to fund the drilling of two wells on Lancaster in 3Q 2016 (the "Lancaster 7 Wells") and for general corporate purposes.


-- Lancaster 7 Wells to comprise a Pilot Well and a Horizontal Sidetrack Well, and are designed to refine the Lancaster Contingent Resource range (currently 62 - 456 MMboe), provide a second future production well and provide new information to help optimally plan the Lancaster field development

- i think they raised more than enough for the two lancaster wells.... if we are looking at ~12p/share cash, and they havent got as much as 30m left prior to 70m placing, then perhaps ~10p/share cash... ??

----------
the main point i was making, was that the mcap is made up of a meaningful amount of cash/share, and the market currently valuing just for lancaster, and at a low value too at ~£1/barrel on their stated min base case of 300mmboe

cheers

[leeson31] 02/11/2016 09:30

my estimate....... "imo"... i dont think they were skint...

[garymegson] 02/11/2016 09:24

Leeson31. Sorry but how do you know they have £30m in the bank remaining?

Cheers
GM

[gary38] 02/11/2016 08:50

Totally agree Control and also they have to take into consideration the spread.Very risky.

[control1] 02/11/2016 08:29

gibso, I have several accounts as well and have taken advantage but you would need literally millions of shares for your entitlement to make any serious dough...

Granted I had to sell shares in my ISA to buy my entitlement but anyone gambling by selling their existing shares hoping to get them all back at 34p on the open offer is insane....

[gibso6767] 02/11/2016 06:26

Control , a few of us hold shares in a few different type of accounts , SIPP , ISA and Other .
My ISA allowance of OO is transferable to my other account .
I'm applying for some in that account ( my ISA and Other account plus £250 extra .

HL where confident that due to not asking for some in my ISA I'd get this amount .

But the 1/76 at not much of a reduction on current share price isn't that great really , only thing that's in my mind is if that immediately after OO confirmed then news may released and increase share price .

One problem being that holders may have to sell shares in account to buy OO shares and it's not certain you get them , ergo loss on spread and brokers fee to sell and rebuy although there's no brokers fee on OO

[control1] 01/11/2016 23:52

Hopeful holder - a drop on traders flipping shares...?

Maybe but you don't seriously expect to get any of us to get a bucket load at 34p do you...?

I think that the open offer will be well over subscribed and scaled back (and probably more so the more you applied for) so I doubt that anyone will be retiring on the cheapo's....

[gibso6767] 01/11/2016 21:56

Mandy man you are not alone re GKP I left with the same I'd put in by luck more than anything else.

This is the real deal no TKs , No Heavy Oil , no bah bah black sheep etc

[zztop] 01/11/2016 14:09

Impvesta thanks

[hopeful holder] 01/11/2016 13:53

I do expect the share price to drop after the placing as traders make some money from flipping the shares. However,the value of the company starts o increase again as the next steps are financed. This has moved to my number one holding and I'm still here looking at adding via the open offer