Hurricane Energy Share Discussion Threads

[nicebut] 08/1/2017 17:14

How accurate is the marine tracker that you are using?

The key thing is that its moved, IMO

[pcok] 08/1/2017 17:06

Thanks for the addition of the link. It does look just about possible but they will have moved from the extreme NE point in Lincoln to the extreme SW point of Halifax.

Time will tell.

Your input has been really helpful.

[oilretire] 08/1/2017 16:44

It's moved approx 24km.

From page 4, Halifax is about 2 blocks over (25km?)



The past tracks for the Maersk Lifter & Laser certainly suggest anchor handling ops to me?

[pcok] 08/1/2017 16:22

Hi All,

Interesting times. I have been watching the links to the rig position and feel there is no chance it is yet at the Halifax spud point. It simply hasn't moved far enough. However, it must be in the process of said move, I just don't understand why it is now stopped.

Any out there with much greater knowledge than I able to explain the pause?

Very much Long Term here. What a prospect!

[zztop] 08/1/2017 14:51

7 billion Mooted? Is that possible?

[pounddreamer] 08/1/2017 12:39

Thanks Laser,
Its going to be an interesting week all round as I am currently in HUR, SOU, TLW and PMO

[laserdisc] 08/1/2017 11:16

pounddreamer it did move not far from licoln drill at the start of operations, approx. 600 metres I estimated was stopped for quite a few hours at that point , I thought at time they were waiting for weather, you never know they could have been doing more seismics on Lincoln , I don't know , wonder when we are going to get more update info on Lincoln.
19/12
stated
The Lincoln Well was planned to exclude testing, and the well is now being plugged and abandoned ahead of the Transocean Spitsbergen drilling rig being demobilised from the Lincoln Well. A further announcement will be made once weather and sea state conditions have allowed for the rig to move to the Halifax well location and for the well to be spudded.

does wording "A further announcement" relate to Lincoln final well data and third party reports ? or just the spud

AS said its going to be a busy year certainly plenty of newsflow in the pipeline from now till the agm in June

[pounddreamer] 08/1/2017 11:08

Laser re your post 13734

How long was the rig stopped for?
I wonder if they conducted a quick survey of the ridge under the rig to ascertain/verify best position for a drill between the Halifax and Lancaster if a)Halifax comes in as hoped and b)time and money allows.

So pudding on Halifax next week - hopefully add 2 or 3p to SP

[leeson31] 08/1/2017 11:07

The cpr due course will establish 2P reserves. Imo the market could use ~4/b per 2P. Lancaster Lincoln and Halifax should yield ~1b barrels 2P imo... it'll be a nav based play correlating to spot price Brent until they produce from Lancaster... they need just $400m for production at Lancaster as per cfo.

[laserdisc] 08/1/2017 11:04

8th June co stated
The Company expects to reopen its data room for farmout discussions, once the results from the Lancaster 7 Wells have been interpreted and integrated with the ongoing development planning.

words "new faces"mentioned I think it was on a malcy interview, so data room could be in process

[nicebut] 08/1/2017 11:00

Is the rig on site now?

Will the Co RNS if and when they open the data room.

[davidblack] 08/1/2017 10:44

Maybe $1 a barrel for undeveloped oil now but how much when oil sells for at $75 in two years time as supplies tighten? I think that $1 will have moved up towards that $5 area?

That $1 value was more relevant when oil was at $30?

Once the price stabilises back in the $70-$80 zone and people have confidence that the Saudis are not looking to crush other people's political agenda we will be back to normal.

It's worth remembering that the Saudis use oil pricing as a political weapon and are happy to take a lot of pain to protect The House of Saud. In the early eighties they drove the price down to $5.50 to castrate the political ambitions of Iran and were supported in that agenda by the US as it destroyed the USSR along the way. So the recent drop to $30 might be seen as a replay of that previously successful "Play." Guess what the Itan's and Russians have now agreed to adjust their political agenda to be inline with The Saudis. Putin had no interest in becoming the next Gorbachev.

[gary38] 08/1/2017 10:36

The cup is half full not half empty.Talk of dilution and fantasy is to miss the potential here of a once in a life time investment the Doc and team management of Hurricane Energy not putting a foot wrong with facts all the way .

[greyingsurfer] 08/1/2017 10:21

$1 per barrel or less is a normal valuation metric for unproduced oil in the North Sea.

And they are a VERY long way from proving up 1bnbbls recoverable.

There's plenty of potential here, but there's no point throwing around fantasy valuations.

Peter

[oilretire] 08/1/2017 10:13

gary388 Jan '17 - 09:09 - 13740 of 13741 0 0
7 days a week investors

or 7 days a week shift workers passing the time ;-)

[ngms27] 08/1/2017 10:11

$1 per barrel or less is a normal valuation metric for unproduced oil in the North Sea.$5 to $10 per barrel is more normal for producing assets.Thus plenty more capital needs to be sunk to get to the point whereby the barrels are worth anywhere near the projections which means a farm out or dilution.

[gary38] 08/1/2017 09:09

7 days a week investors including me .

[deanroberthunt] 08/1/2017 08:07

actually Malcy reckons nearer 1.15bn.....just need to sort funding.

[oilretire] 08/1/2017 08:04

Position Received: 2 min ago (2017-01-08 07:59 UTC)
Vessel's Local Time: 2017-01-08 07:59 (UTC)
Area: UKC - North Sea
Latitude / Longitude: 60.26017° / -3.549333°
Status: Stopped
Speed/Course: 0.2kn / -
AIS Source: 2298 Esvagt Chastine

Read more at

[deanroberthunt] 08/1/2017 08:03

So, potentially HUR has access to 1bn barrels of oil reserves in the ground....
In the ground valuations, presently, range from $5/bbl to $10/bbl...so if we take $7/bbl, that equates to a valuation of $7bn...or could say between $5bn and $10bn, althought with Oil rising....>>>>>>>$$$$$$$$$$$

[oilretire] 08/1/2017 07:59

Looks like a couple of anchor handlers on location too.

Maersk Lifter & Maersk Laser.

[laserdisc] 08/1/2017 07:46

bh yes it holds and has plenty of fuel,reached 4 knots but capable of more, seems to have stopped @
23:59
Midnight position
North Sea
STOPPED
0.1
55
60.26017
-3.546667

current postion this morning as I post
Latitude / Longitude: 60.26017° / -3.549333°
Status: Stopped

so looks like its arrived at destination

[bloodhound] 08/1/2017 00:49

"probably going this slow as its most economic re fuel consumption"

Surely it topped up when it was drilling Lincoln? That'll leave us with 399,999,800Mbrls;-)

BH