Hurricane Energy Share Discussion Threads

[gary38] 13/1/2017 08:36

From the LSE posts.New q1 2017 presentationWhichWayHow Thanks for that. I worked my Lincoln volumes from the prospective resources in the 2013 CPR. P1 = 44m barrels, P2 = 150m barrels and P3 = 355m barrels. I then took the bottom level for P1 as the spill point of the structural closure, 1780m TVDSS and the bottom level for the P3 as 2135m TVDSS as this is the lowest oil considered by the 2013 CPR. I took the P1 from the P3 giving 295m barrels and divided by the distance from 1780 to 2135 (355m) and them multiplied by the actual oil down to value of 520m to give a value of 432m barrels, that added back the P1 44m barrels to give a figure of 476m barrels. This is clearly a rough estimate, as you say the fields widens at the bottom, but it will be on the low side of the correct figure. As to the licence extension, Hurricane have revised the P2 up from the 2013 CPR value of 150m barrels to 250m barrels so I increased my figures by the same ratio to reflect this giving a value of 793m barrels. Lets say 800m barrels for ease! I feel calculating it this way includes all the assumptions made within the 2013 CPR. I am quite happy to receive any feed back or comment on these numbers from yourself or any other poster as I would like to confirm that these numbers are in the right ball park and I have not made a simple mistake. I have not added anything for the RF or water saturation and I agree with yours and Shedful's thoughts on the RF, even a small nudge up of either would give us 1bn barrels at Lincoln.

[gibso6767] 13/1/2017 08:08

control ,apart from bespoke dilution/funding ie CA and kerogen ,which lots of us also took I cannot see any issues re IIs V ourselves ,bond holders always get the cream when theres big problems ie GKP but the current performance ie since 2016 campaign im happy with.

if we do end up being bought out surely the end event is the same for us all .

im not naïve to say that a pi like my self holding 300k plus is as important as Iis for want of a better word but I hold with an intention to buy more when funds come available

[control1] 12/1/2017 23:55

FSA, if you are in for 5 minutes then that will be a problem for you. However, as has already been explained to you on this board (partly in reply to my little dip out/in yesterday), this is not an issue to anyone who does not have ADHD like symptoms and who can manage to sit still for more than 5 seconds. If the end outcome is considerably higher than the current SP, it makes no difference...

gibso, if only I had a pound for every time I heard that one (your last sentence) on the BB's. Rest assured that the directors will do the best for HUR as a business concern however more often than not, this does not include retail shareholders interests. We are not considered important by "the market" and have little to no say.

Dr Trice has come up trumps so far, what we retail holders need to hope for is that he continues to produce the goods which IS in our interests...

[gibso6767] 12/1/2017 22:32

I will buy more if this happens , contracts are pretty secrative , why should competitors etc know share price civic costs etc or other potential hirers of suchlike .
I'm confident that HUR have everyone's interest for the best

[fsawatcher] 12/1/2017 22:23

yeah i tell you dont like questions that raise concerns

just talk of billions of barrels

you not bein frank with investors are you?

you know wot happen if that weather window drift nuther week dont ya

40p comin soon

is that scarey for ya

[gibso6767] 12/1/2017 21:41

Re Spitsbergen costs well unless there's a load of service hands on there then daily manning costs are reduced , as will diesel i.e. No cranes no drawworks , I've seen contracts before where WOW rates where about 50% less normal rates however we don't know very much st all about our contract with TRANSOCEAN .

So perhaps they where given £££; to carry out certain operations and if successful then if in time a bonus of sorts .

But it's Winter it's WOS it's priced in .

FSA please stop scaremongering ,please stop planting the seed of discontent in fact please stop

[telbap] 12/1/2017 20:22

My guessing is that any person/corpoorate/bank/hedgefund, call them what you like , who will stick that many millions of squid into a single O and G exploration company must be pretty confident with the possible outcome. They did not amass such sums of cash easily or quickly, one would assume they know what they are doing when they invested. I am quite happy to sit on my purchase, 50p, 40p or 30p, it will come good and make me money.

[chessman2] 12/1/2017 19:01

And they originally stated they did not wish to go below 29.9%. I'm pretty sure they bought what was necessary to keep themselves at 29%.

[tiltedtrader] 12/1/2017 18:38

I'm guessing Kerogen took up enough that they remained at 29.9% after the placing.

[jacks13] 12/1/2017 18:23

I’m puzzled by the continuing declaration of 29.9% being Kerogen’s share of the issued share capital.

Kerogen first invested in May 2016 when after the (1st) Placing [rns 8502X, dated 10 May 2016] it was declared that they held 293,911,931 (29.9%) out of 981,374,774 shares in issue.

Susequently, in the November (2nd) Placing notification [rns 0966N, dated 20 Oct 2016] we were told:

‘The Company is grateful for the support of its existing shareholders, including Kerogen Investor and Crystal Amber who have conditionally subscribed for 93,017,647 of the Placing Shares to raise gross proceeds of £31.63 million . Kerogen Investor has agreed not to subscribe for any Open Offer Shares under the Open Offer in order to allow for other Qualifying Shareholders to apply for Excess Shares under the Excess Application Facility.’

So Kerogen would forgo the Open Offer element but it makes no specific mention of whether they would engage in the Placing, whereas it definitely says that CA would. It appears Kerogen did not therefore take up any Placing shares, neither have we received any notification of Kerogen adding to their May 2016 holding. On that basis a holding of 294m out of a total of 1,203m is 24.4%.
(n.b. 29.9% of 1,203m is 360m)

[laserdisc] 12/1/2017 18:18

14:52:12 late buy reported
49.50
200,018
99.01k

[laserdisc] 12/1/2017 17:12

looks to me we have 2nd ahv on its way also kingfisher bulletin not updated anchor positions

EDIT 2nd & a 3rd ahv's both gone to anchor will arrive in Aberdeen port late this evg
MAERSK LIFTER
12/01/2017
22:00 expected
PACIFIC CHAMPION
12/01/2017
23:59 expected

[control1] 12/1/2017 17:09

HUR are almost certainly paying for the rig, whether there is a weather clause concession is unknown. Don't forget Lincoln seemingly finished ahead of time though when they almost certainly allocated longer for the site so there may be an offset...?

[laserdisc] 12/1/2017 16:58

MAERSK LASER just left Aberdeen for Halifax will arrive tomorrow afternoon my guess more work on anchors I am expecting another vessel to assist but transponder off presently

[cinques] 12/1/2017 16:35

As there is a further clause for an extra drill, then any later contract with a different firm will have to wait, most likely, for Hurricane to exercise or not.

It's common that rigs are delayed on prior contracts.

[fsawatcher] 12/1/2017 16:25

when does the rig window close?

ave someone else got it booked after hur

sorry for questions but i come on board for help on info

[laserdisc] 12/1/2017 16:22

yes rig costs confidential we have a further clause to exercise 21 days after Halifax spud for a further drill

[cinques] 12/1/2017 16:19

Given that Hurricane knew that they were hiring the rig through what might be a bad weather window, I'd expect there have been some allowance in the agreement for WoW issues.

The Spitsbergen would have otherwise been tied up somewhere across the winter earning very little, so Transocean were probably okay sharing some (or a lot) of the WoW risk.

Just a view. No evidence to back it up.

[oilandgas1] 12/1/2017 16:06

Just topped up 😄

[oilandgas1] 12/1/2017 16:03

News due:

Halifax spud & Lincoln flow test results next week probably
Jan17: Data room opening soon - bids??
Feb17: Halifax drilling & Flow test +2weeks?
Feb17: FPSO progress update for mid 2017?

Then investment for drilling / production
Capex: 400m+ required?? Farm out/ sale?

[fsawatcher] 12/1/2017 15:57

do hur have to pay more for rig while it waits for weather window

how does it work then?

they hire rig for so many days and that include bade weather

is this costin them more money?

[thegreatgeraldo] 12/1/2017 15:39

Seems a bit premature to be talking about HUR knocking out more equity. Other options are available.