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 Shares Traded Last Trade
  0.075 1.13% 6.74 35,786,638 16:35:12
Bid Price Offer Price High Price Low Price Open Price
6.655 6.72 7.00 6.535 6.55
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 170.28 -1.81 2.97 2.3 134
Last Trade Time Trade Type Trade Size Trade Price Currency
17:24:02 O 45,034 6.74 GBX

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Hurricane Energy Daily Update: Hurricane Energy Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker HUR. The last closing price for Hurricane Energy was 6.67p.
Hurricane Energy Plc has a 4 week average price of 6p and a 12 week average price of 6p.
The 1 year high share price is 64.50p while the 1 year low share price is currently 6p.
There are currently 1,991,871,556 shares in issue and the average daily traded volume is 63,988,972 shares. The market capitalisation of Hurricane Energy Plc is £134,252,142.87.
dlm2602: Just looking at the $220m convertible bond maturing in 2022. It looks to me that Hurricane has the option whether to redeem the debt by way of issuing new shares or cash payment or a mixture of the two. If it chooses to issue new shares the share price is set at $0.52 or 42.5p at the current exchange rate. So if Hurricanes share price is still languishing at 7p in 2 years time and cash is limited, the convertible bond will still be converted at $0.52 so existing shareholders won't be diluted to oblivion. The fact that the option of how to refinance belongs to Hurricane is good news. At least that is how I interpret it.
hiddendepths: sif12 posted this in a positive post yesterday. I generally concur with his views BUT... "however one again, i appreciate many of you got in years ago on the hope of multiple times returns and potentially at higher prices. IM just saying it may not be the world beating story you once thought it could be, but theres still some significant prospects here and between an increase in the price of oil to say $50,and HUR being able to add say another 10-20k over the next couple of years, that could see the share price to 80-100 pence, or 7 times the current share price " .... speaking as one who was in just a couple of weeks after the initial listing and retain a large holding, I for one still believe that it has every chance of being a world-beating story. It's early days yet and the eventual reserve base could well be north of 10 billion barrels recoverable. It's easy to forget that when we're sitting at 12p and there's so much negativity around, but I don't think anything that has happened has changed the fundamental argument. Not water and not Warwick/Lincoln. If Halifax had turned out to be a dud, it would be different, but we are still waiting for that and its CoS is significantly higher than the GWA ever was. Whether that is pie in the sky or not is hardly relevant when the share price is 12p however. The blue sky hope value embedded in such a price is a big fat zero!
mhin2: As an aside to the nonsense discussion on the justification of race theory, I reckon every USD1 increase in poo (above USD26) is worth just over USD6m free cash to Hur. What is that worth to Hur share price...I recon about 0.25/0.3p, although it seems to be exponential....I wonder if 12 will become the new base?
kenmitch: tournesol. I’ve no problem with anyone posting negatives about any share. Unwillingness to consider both sides of the argument is a big failing on so many ADVFN bbs. I agree that while the oil price stays low, there is little reason for HUR share price to go up, unless it joins in the sector in looking ahead to normality and beyond current massive oversupply and very low oil price. So no likelihood of HUR going up against the sector trend. But do you have serious doubts about HUR surviving if the downturn lasts for months, and if so why? My current thinking is that a dip back to around 10p would be a good top up opportunity even assuming Warwick proves a dead loss. Perhaps you think otherwise?
hello31: What should the price of Hurricane shares be when compared to its peers? Unfortunately our share price has been octimated (as opposed to decimated) by likes of NGMS and DSP peeling the same fake news over and over again on tanker loads of water rushing through due to giant jellyfishes and pretty coloured graphs. There were posters including myself with rose tinted on, who tried to provide evidence to contrary but failed as demonstrated by the share price going down from 45p one year ago to as low as 15p before the oil price war. We now have others (including Arden today) who point to production levels and results as vindication of Lancaster and FB concept. However, only very little of the activation has been reversed as Hurricane has not fallen as much as other oiler from the oil price drop. We should not compare Hurricane to TLW nor ENQ nor PMO as they have very high debt multiples to current market values - significantly higher risk profile in times of uncertain cashflow. A better comparison is Cairn which has virtually zero debts and was 12 months ago 164p. The impact of the oil price drop gives it a current price of 114p. So applying the same %age decrease to remove the FULL impact of fake news we would get to 45p / 164p * 114p = 31p versus current 16p share price. There are other measures - like production levels, 2C EV per production, EBITDA multiples, etc etc and which one can argue to be better comparisons. This is just one using market valuation of a debt free peer member. pre and post oil price drop. There is lot more to make up on the share price relative to others.
tournesol: I posted earlier about Warren Buffett's leading indicator which effectively calculates something broadly equivalent to the P/E ratio for the US at the level of the entire country. Basically it compares the total market cap of all quoted companies with the GDP/GNP of the country. Buffett describes it as an indication of whether the total outputs of the economy justify the total value of the companies which underpin it. It rose beyond its normal range and peaked around 2000-2001, then again around 2008, and would you beleive it, it peaked just recently. On each of the previous occasions it ushered in a period of recession. Basically the valuation of the stock market as a whole has got ahead of the overall economy. When that happens there is an inflexion point and things revert back to mean. Seems to me that's what is happening now. It's not about Hur, it's about the global markets. Of course we also have an oil price war which is cutting the legs of every oil producer in the world. And we have Corvid-19. And there is all the uncertainty around Hur specifics. So putting all of that together provides, in my opinion, more than enough rationale for the behaviour of the Hur share price.
buzzzzzzzz: Like NGMS I "intended" to stay away. However after sleeping on it I decided to write to IR as I do not get a warm fuzzy feeling from the recent tanker offload. If I get a meaningful response I will update everyone. Dear Sir It is quite clear from the above RNS that production will be from both wells from the end of January, the RNS states that any material variations from the parameters outlined will be notified to the market. As there has been no notification to the contrary I, and many others, are assuming that both wells have been producing since 1/02/20, however given the timing of oil offloads from the FPSO and the subsequent tonnage that either there is a substantial stock pile on the FPSO or that production is materially different to the guidance of 20,000 BPD. As you can imagine, given the recent fall in the share price, this is causing significant concern to small investors especially myself. The RNS of the 29/01 was issued to assure the market that there there were no problems which could have caused the share price to fall. I cannot stress to all at Hurricane Energy that if both wells are not producing as envisaged in the RNS what a fundamental breach of trust and a slap in the face for the PI's that trusted that statement from Dr Trice. Cannot you confirm that Hurricane still stand by the details of the RNS and that PI's can assume that both wells are producing as no statement has been issued to the contrary. Further more from the interims of Crystal Amber it seems that they have had recent discussions with the board and as a result have increased their holding in HUR .from CA's Dec interims: ' ..At the current share price, the Fund believes that a buyback of shares could be an attractive use of capital in the interest of the company. The Fund has consulted with other shareholders and engaged with the board to consider the company's alternatives and has put forward specific ideas regarding a sensible capital allocation strategy. Please can you confirm that CA have been given no other information other than what was contained in the RNS 29/01 and RNS 6/02 and that is available to all shareholders. Be rightly understood the frustration that shareholders are feeling with a very depressed share price and and what is perceived to be an RNS which states production will be from two wells and there has be no contradictory announcement yet doubters still insist production is only from one well and evidence from the recent tanker offload would support their view. I and many other shareholders would like a definitive answer. So I put it to you does HUR stand by the RNS and do the management agree with me that production from only one well would be a material variation. I look forward to hearing from you. Yours faithfully xxxx xx Shareholder
hello31: TG "The retail buys are getting larger. " Thanks for the confirmation. Up to now they were having to catch a falling knife that fell to sub 15p. So what's changed on Feb 20th: 20 days of NO RNS means at least 20 days of * 20k b OIL pd with NO NO NO NO MATERIAL change in WC or in Hurricane’s view that it is PERCHED water. * Offload evidence coming soon : 23 jan -31 Jan @12,5000 bopd well 6 = 100k barrels 1 Feb to 20 Feb @ 20,000 bopd incl 7Z = 400k barrels Expect circa a500-540k offload dependent on ramp up level and ramp up period but there MAY be couple of days where production halted due to 80mph winds * LC NOT NOT NOT abandoned - nobody can answer why OGA would want to nor why Spirit walk away from well flowing at commercial rates when they are also taking on Lincoln commitment wells requirements for 2020. - LC Tie-In is delayed by 12 months at most - The high-resolution gauges in the wells are also providing pressure measurements that can be used to refine the oil gradient and the estimate of the deepest oil-water contact (OWC). - Hurricane need LC NOT to be plugged and abandoned to see the impact from the new commitment wells on Lincoln and whether it is one giant field. * 75% AM upgrade work related to LC Tie in will be by Spirit – Cash requirement does NOT NOT become an issue for Hurricane as assumed by some posters. * OAG requirements for Commitment wells - if successful will be source of future horizontal wells that adds to their success as with Lancaster EPS. * Expect RNS before CMD regarding the rig and drill schedule "The retail buys are getting larger" or do I just have "rose tinted on" A 1p rise in one day is nothing - So Warwick is a failure but it was never in the share price of 49p and for the share to be decimated from 49p to 39p There was no reason for the rumours of the off loads in tankers being full of water and diverted to Germany and for the share price to be decimated from 39p to 25p There was no reason for the acceptance that LC will be abandoned when they were requesting a delay and for the share price to be decimated from 25p to 14p Forget the takeover rumours, expect no less than the reversal back to 49p at a minimum for now.
avsome1968: Touresol Wouldn't let something like that bother you, more you mention more they will do it to wind you up means nothing, main concern is HUR share price?
bocase: Very positve take on the RNS by Malcy: Hurricane Energy Hurricane has provided an operational update regarding the Lincoln Crestal well on the Greater Warwick Area (GWA), whilst also describing plans to accelerate the next production well on Lancaster. The Lincoln Crestal well was drilled in 2019 and tested at 9,800 stb/d. It was suspended with gauges downhole for purposes of completing pressure build-up tests and gathering interference data. The GWA partners, Hurricane and Spirit Energy, always hoped to be able to obtain consents to be able to tie it back to the Aoka Mizu FPSO. This is the Lancaster early production system (EPS) vessel which has been producing from two Lancaster wells nearby since last June. The Lincoln Crestal tie-back would deliver long-term dynamic data as well as production generated revenue – it would effectively be another EPS on the GWA. The plan had been to do this tie-back during the summer weather window this year, though regulatory consents had been highlighted as potential hurdles. The GWA partners have now concluded that it will not be possible to tie-back to the Aoka Mizu FPSO in 2020 and have released the vessels to carry out this work by the service provider. They continue to pursue an extension to the suspension consent for data gathering purposes during testing of the planned Lincoln commitment well, scheduled for this summer. Without any such regulatory approved extension, the Lincoln Crestal well will be plugged and abandoned in March 2020 prior to drilling of the Lincoln commitment well. Hurricane was at particular pains to point out that the decision to defer the tie-back was driven by the OGA and did not reflect Spirit’s technical view of the GWA nor was it caused by Spirit’s ongoing sales process. The good news is that Hurricane is planning an additional production well on Lancaster in 2020 in addition to the one or more subvertical wells in 2021 to determine maximum extent of the Lancaster field. In its Lancaster update of 29th January, the company reported a very strong performance by the Lancaster EPS with production significantly above guidance, indeed they reported having sold the best part of 3m barrels of oil with revenues of $170m. So, overall whilst the RNS infers a different upcoming plan for the company, Hurricane is still pressing ahead with the development of its assets. This will provide opportunities to ramp-up production and cash flow, whilst proving out its acreage. The RNS came out as Hurricane had to release the vessels that would have been required under the previous work programme. The OGA is taking a strict approach with regards to suspended wells in hostile environments such as the West of Shetlands and Hurricane is changing its own work programme to accommodate this. Fortunately the ongoing success of Lancaster gives it the capex flexibility to think about the share price and I can see the significant upside of taking this route.
Hurricane Energy share price data is direct from the London Stock Exchange
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