Share Name Share Symbol Market Type Share ISIN Share Description
Hurricane Energy 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
  +1.25p +4.13% 31.50p 31.25p 31.50p 31.50p 30.75p 31.00p 2,669,980 08:16:17
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -4.7 0.1 450.0 617.15

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Hurricane Energy (HUR) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
07:16:1731.5024,5737,740.50AT
07:16:1631.4930,0819,471.75O
07:16:0031.259,6293,009.06AT
07:16:0031.259,0212,819.06AT
07:15:5431.255,9791,868.44AT
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Hurricane Energy (HUR) Top Chat Posts

DateSubject
25/9/2017
09:20
Hurricane Energy Daily Update: Hurricane Energy is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker HUR. The last closing price for Hurricane Energy was 30.25p.
Hurricane Energy has a 4 week average price of 26.25p and a 12 week average price of 26.25p.
The 1 year high share price is 67.75p while the 1 year low share price is currently 26.25p.
There are currently 1,959,210,336 shares in issue and the average daily traded volume is 7,827,567 shares. The market capitalisation of Hurricane Energy is £592,661,126.64.
13/9/2017
07:39
laserdisc: The Fund continued to build its position in Hurricane, investing a further £10.7 million at the company’s placing of shares in October 2016 and taking the Fund’s stake in Hurricane to 15.3 per cent. In April 2017, the Fund announced that it had reduced its position in Hurricane into demand to manage its exposure to this successful investment, realising gains of £15.7 million. In July 2017, Hurricane completed a placement of ordinary shares to raise $300 million at a price of 32 pence per share. The company also raised an additional $230 million via the placement of convertible bonds. The Fund invested $10 million in this raising ($3 million equity and $7 million convertible bonds). rackers that 49.6 relates to hur price in relation to the CA fund valuation
07/9/2017
05:11
alamaison5: Hurricane Energy plc (“Hurricane221;) In July, Hurricane announced that its shareholders had approved the company’s plan to raise $530 million to fund the Early Production System (EPS) at Lancaster. During the month, the Fund wrote to Hurricane expressing its concerns about the way the fundraising was handled. The fund maintains the view that the way the company has gone about the recent fundraisings has created a significant disconnect between the operational value of Hurricane and its strategic value. Drilling results over the last 12 months indicate that Hurricane holds a very large, quality asset, with a resource that the Fund believes could be in excess of 1.6 billion barrels of oil, drastically undervalued by the current valuation. Over the month, Hurricane’s share price fell 7.7%.
13/7/2017
17:16
greyingsurfer: Peter agreed they have found plenty of oil but quite simply have created no shareholder value, so far, which is measured by upward movement in the share price. The company does not determine the SP, the market does. As an stock picking investor you make money if you successfully pick stocks where the underlying value is greater than the current SP, and there are events likely in the future which would change that. HUR seems to me such a case. They have shown there to be significant amounts of oil in their licences, they have a clear plan for proving those up further as commercial resources, and they now have the money to do it. If you believe the story this is a good investment, as over the next two years that will be proven up, and the value reflected in the share price (some of that share price appreciation may happen a lot sooner, as the work progresses and people take note - or it may not). If on the other hand you doubt the story, or you see a limited CoS of the EPS proving up the commerciality successfully you shouldn't be invested. In recent months all they have managed to achieve is to increase the market discount to the underlying value of the oil. They haven't. Yes, the warrant issue looks a mess. But what difference did it actually make? As I've said many times, I doubt the end result would have differed very much. They managed to raise $12m at 51p - some way down from the peak share price shortly earlier. Do you really think they would have been able to go to the markets and raise 40x as much at anything like that price? If nothing else, the warrant issue showed that buyers were not queuing up to fund the EPS at 50p+. What they did, however, manage to do was raise the cash to allow the EPS to proceed - instead of either accepting a poor farm out deal, which would almost certainly have diluted holders further, or borrowing large sums on poor terms and putting the company's future at serious risk if any difficulties were faced during the EPS development (they wouldn't have been the first E&P to disappear without trace if that had happened). Of course we would all have liked the fund raise to take place at higher levels (none less than the BoD you can be sure), but that simply wasn't ever likely to happen. If I'd been smarter than I am I would have sold in the 60s and be rebuying now, instead of just topping up. But I'm not a short term investor and what sticks out to me about HUR over the past couple of months that it's a far better investment now than it was then - I no longer have the significant fears I did that they would fail to raise the cash for moving forward, or make a potentially terminal mess of the funding. Peter
01/7/2017
12:18
kirtonender9: Another write up from Shareprophets Hurricane deal disappoints investors, but is it really that bad?By Gary Newman | Friday 30 June 2017Hurricane Energy (HUR) is a company that I have followed closely, and have been invested in at various times, since it first floated on the AIM market, and it has come a long way since then.The market was clearly not exactly enamoured with yesterday's RNSs relating to the funding of the company through to first oil in 2019, but I think that once the dust eventually settles, the UK offshore oil company still has great prospects longer term, even following this large amount of dilution.News of the fundraising was not exactly unexpected, as the company had made it clear that a substantial amount would be needed to pay for the Early Production System at its Lancaster field, with a final investment decision due during the summer of this year.The EPS, which will consist of two wells tied back to a FPSO, will cost $514 million in total, with $45 million having already been spent, and is expected to produce 17,000bopd as well as providing further data to form a full field development plan on the best way to extract the 523mmstb of 2P reserves and contingent resources currently in place.In the current climate, especially when it comes to investment in UK offshore projects, I believe that the company has done incredibly well to raise $300 million via a placing at 32p, along with $220 million from convertible bonds.But I can also see why a lot of those currently invested in the company aren't happy as many had been expecting a farm-out deal. Whilst it is true that such a deal would have reduced the amount of dilution at this stage, it is also worth remembering that it would have had a significant negative impact on future profits net to Hurricane once production started, as at least this way it has kept 100% of the field, which is a big step for a company of this size and one which only began drilling a few years back.Judging by the recent drift in share price I suspect that some institutions got wind of what was coming and have actively been shorting the stock – although Marshall Wace are the only fund with a disclosable position, but given that is for net shorts it would be interesting to know if the two largest holders (Kerogen at 28.94% and Crystal Amber at 12.11%) have also shorted whilst still being net long. It certainly did drift quickly from the 50p area down to the low 30s before rallying slightly.It is also interesting that Crystal Amber appear not to have taken part in the placing – there is certainly no mention that it has – and Kerogen has only taken up $35 million of shares, which is a long way off of its holding on a pro rata basis.The company also looks to have done well on the convertible bond issue, with July 2022 bonds being issued at a coupon of 7.5%, and a conversion price of $0.52, which is a 25% premium to the 32p placing price. In theory this should give the company three years of production revenue prior to the settling of the bonds, assuming of course that they aren't converted instead, which may well be the case at that point.Obviously many PIs are miffed that they haven't had the chance to take part in the fundraising at this price – other than a token $5 million open offer being mentioned – and would have preferred a full open offer or a rights issue, but that was never likely anyway. The funding does of course still need to be ratified by shareholders, given its size, and currently anyone who had wanted to buy can do so on the open market at a similar price anyway.In the near term I can see the potential for this dropping even lower – although I did close my short this morning – as sentiment is now negative, but ultimately I am still bullish on the company and can see upside long term.I suspect it will trade in a similar way to the recent large fundraise by Sirius Minerals (SXX) and that the number of extra shares coming onto the market will stall any rise for a fair length of time, but once things settle the share price will rise again.Whatever your view on the financing package, it is hard not to applaud what Dr Robert Trice and his team have achieved in such a short period of time.Currently I would be watching this one closely rather than being in any rush to buy the shares as you well get in at a significant discount to the placing price, or worst case will still be able to buy at the 32p level in the coming weeks or possibly even months.
30/6/2017
07:48
hiddendepths: I broadly agree with DB. They're raising $520m against an EPS cost of $360m, some of which is already paid. They don't NEED a farm-out to proceed. So the terms will be slewed in favour of HUR whereas 24 hours ago it looked as though they were over a barrel on financing and could be shafted on the farm-out. I do like the extra cash. Halifax needs to be flowed - and deepened so they can find the oil/water contact and get a better idea of just how much bigger Greater Lancaster is. Furthermore, if Warwick and Lincoln really are another monster field, at least one well is needed to demonstrate the fact and give a more accurate size estimate ahead of development. I hate the way this financing has been done but the important thing is that money is on the verge of being raised and that will fully address one of the major worries that has been hanging over the share price for a couple of months. There may well be an overhang for a while but more importantly there seems little scope for a decline from here and a substantial share price recovery in due course looks extremely probable. If the share price falls back to around the placing level of 32p, we can buy in the market, effectively allowing us to participate in the placing. If the share price lifts from this morning on, at least the value of our shares will have gone up. Let's just hope that the bookbuilding this morning has been properly pre-arranged and that the placing can be completed in a professional manner. As long as it's over-subscribed, even by a small amount, I'll be happy!
23/6/2017
09:51
jurgenklopp: CA is an investment trust and the announcement this morning should primarily have been aimed at shareholders of that entity. The fact that they had to say that the weakness in the CA share price was, in their opinion, mainly to do with the weakness in the HUR share price suggests that CA is perhaps a tad over exposed to one particular company.
23/6/2017
07:34
kooba: CRYSTAL AMBER FUND LIMITED("Crystal Amber" or the "Fund")Statement re. share priceCrystal Amber notes the recent decline in its share price. The Directors believe it primarily reflects the decline in the share price of its largest investment, Hurricane Energy plc ("Hurricane"). The Fund currently holds 150,000,000 shares in Hurricane at an average cost of 23p a share. In addition, the Fund holds warrants over 23.3 million shares exercisable at 20p a share. The Fund has previously realised profits on Hurricane of GBP15.7 million.The Fund attributes Hurricane's share price decline principally to the poor handling of its warrant issue announced on 12 May 2017 and comments at its AGM on 7 June 2017, which referred to the near term focus being on funding and delivering the Early Production System.As Hurricane's largest independent shareholder owning 12.2% of the issued share capital, Crystal Amber is supportive of monetising Hurricane's assets, which are valued by Crystal Amber's external consultants who have been its consultants for the last two years, on a NPV10 basis and assuming a $55/bbl flat nominal oil price and that contingent resources "trade" at a discount to reserves by 50%, at 219p a share. The Fund also notes comments at the AGM regarding the reopening of Hurricane's data room to a limited number of oil companies that have the requisite development credentials to take the Rona Ridge project to full field development. The Fund also believes in the strategic value of Hurricane's asset base.For further enquiries please contact:Crystal Amber Fund Limited
23/6/2017
07:05
fireplace22: Crystal Amber RNS just out: Crystal Amber notes the recent decline in its share price. The Directors believe it primarily reflects the decline in the share price of its largest investment, Hurricane Energy plc ("Hurricane"). The Fund currently holds 150,000,000 shares in Hurricane at an average cost of 23p a share. In addition, the Fund holds warrants over 23.3 million shares exercisable at 20p a share. The Fund has previously realised profits on Hurricane of £15.7 million. The Fund attributes Hurricane's share price decline principally to the poor handling of its warrant issue announced on 12 May 2017 and comments at its AGM on 7 June 2017, which referred to the near term focus being on funding and delivering the Early Production System. As Hurricane's largest independent shareholder owning 12.2% of the issued share capital, Crystal Amber is supportive of monetising Hurricane's assets, which are valued by Crystal Amber's external consultants who have been its consultants for the last two years, on a NPV10 basis and assuming a $55/bbl flat nominal oil price and that contingent resources "trade" at a discount to reserves by 50%, at 219p a share. The Fund also notes comments at the AGM regarding the reopening of Hurricane's data room to a limited number of oil companies that have the requisite development credentials to take the Rona Ridge project to full field development. The Fund also believes in the strategic value of Hurricane's asset base.
23/5/2017
06:38
casapinos: This is a copy of a post made elsewhere re the HUR share options for directors detailed in yesterdays Annual report. "The VCP is based on an share price of 34p which the share price touched very briefly in NOV 16- so their timing is impeccable. At today share price the 3 directors involved have "earned" £1 million per month(>£6 mill each) as a result of the scheme (in addition to salary). Should HUR market cap reach £1billion (sp about 80p) they will share £50 million , at a market cap of £2bill (sp £1.60) they share >£128 mill and at a MC of $3bill (sp£2.40) they share> £210 mill - I couldn't bear to go further as the numbers become disgracefully generous. As other shave pointed out their greed is served as they have protected the scheme from the effects of the dilution necessary to fund EPS, further exploratory drilling and FFD i can imagine a situation in which the numbers for market cap above are reached with perhaps billions of further shares in issue yet the VCP pays out as described while common shareholders are diluted several times over. This is shameful, we should make very effort to stop it - I certainly shall." I hope some of you share my concerns
15/5/2017
19:34
rainbow23: Not impressed by the ramblings of AS today. Totally unprofessional.If he wasn't capable of giving a decent interview he should have kept his gob shut instead of waffling and sowing doubt in the minds of shareholders. I fear for the immediate future of the HUR share price with this guy on the loose. Despite what he might say the money men have HUR over a barrel and AS is no poker player. More of the same tomorrow I fear.
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