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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Hurricane Energy Plc | LSE:HUR | London | Ordinary Share | GB00B580MF54 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 7.79 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMHUR
RNS Number : 1943B
Hurricane Energy PLC
05 June 2019
5 June 2019
Hurricane Energy plc
("Hurricane" or the "Company")
Publication of AGM Presentation
Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, announces that a presentation which will be shown at the Annual General Meeting of the Company, being held today, is available for viewing on the General Meetings page within the Investors section of the Company's website at www.hurricaneenergy.com.
Contacts:
Hurricane Energy plc Dr Robert Trice, Chief Executive Officer +44 (0)1483 862 Alistair Stobie, Chief Financial Officer 820 Stifel Nicolaus Europe Limited Nominated Adviser & Joint Corporate Broker Callum Stewart / Nicholas Rhodes / Ashton +44 (0)20 7710 Clanfield 7600 Morgan Stanley & Co. International plc Joint Corporate Broker +44 (0)20 7425 Andrew Foster / Tom Perry / Alex Smart 8000 Vigo Communications Public Relations Patrick d'Ancona / Ben Simons +44 (0)20 7390 hurricane@vigocomms.com 0230
About Hurricane
Hurricane was established to discover, appraise and develop hydrocarbon resources associated with naturally fractured basement reservoirs. The Company's acreage is concentrated on the Rona Ridge, in the West of Shetland region of the UK Continental Shelf.
The Lancaster field (100%) is the UK's first producing basement field. Hurricane is pursuing a phased development of Lancaster, starting with an Early Production System consisting of two wells tied-back to the Aoka Mizu FPSO. This development is initially expected to produce an average of 17,000 bopd (gross production of 20,000 bopd with assumed operating efficiency of 85%, following a period of ramp-up). First oil was achieved in June 2019.
Hurricane's other assets include Lincoln (50%), Warwick (50%), Halifax (100%), Whirlwind (100%), and Strathmore (100%). Together with Lancaster, these assets have total combined 2P reserves and 2C contingent resources of 2.6 billion barrels of oil equivalent (2.3 billion barrels of oil equivalent net to Hurricane).
In September 2018, Spirit Energy farmed-in to 50% of the Lincoln and Warwick assets, committing to a five-phase work programme starting with three wells in 2019 and targeting sanction of full field development in 2021.
Glossary
2P Reserves Proved plus probable reserves under the Society of Petroleum Engineers' Petroleum Resources Management System 2C Contingent Best case contingent resources under the resources Society of Petroleum Engineers' Petroleum Resources Management System =========================================== bopd Barrels of oil per day =========================================== FPSO Floating production storage and offloading vessel =========================================== Spirit Energy Spirit Energy Limited ===========================================
Inside Information
This announcement contains inside information as stipulated under the market abuse regulation (EU no. 596/2014). Upon the publication of this announcement via regulatory information service this inside information is now considered to be in the public domain.
Competent Person
The technical information in this release has been reviewed by Dr Robert Trice, who is a qualified person for the purposes of the AIM Guidance Note for Mining, Oil and Gas Companies. Dr Robert Trice, Chief Executive Officer of Hurricane Energy plc, is a geologist and geoscientist with a PhD in geology and has over 30 years' experience in the oil and gas industry.
Standard
Resource estimates contained in this announcement have been prepared in accordance with the Petroleum Resource Management System guidelines endorsed by the Society of Petroleum Engineers, World Petroleum Congress, American Association of Petroleum Geologists and Society of Petroleum Evaluation Engineers.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
MSCUVANRKVANRRR
(END) Dow Jones Newswires
June 05, 2019 06:00 ET (10:00 GMT)
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