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
  0.87 8.92% 10.62 17,345,366 16:35:13
Bid Price Offer Price High Price Low Price Open Price
10.60 10.70 11.16 10.00 10.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 170.28 -1.81 2.97 3.6 212
Last Trade Time Trade Type Trade Size Trade Price Currency
17:11:23 O 28,412 10.606 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 9.75p.
Hurricane Energy Plc has a 4 week average price of 7.15p and a 12 week average price of 7.15p.
The 1 year high share price is 64.50p while the 1 year low share price is currently 7.15p.
There are currently 1,991,871,556 shares in issue and the average daily traded volume is 31,263,262 shares. The market capitalisation of Hurricane Energy Plc is £211,536,759.25.
hello31: I still believe it was a good investment when you bought it at 59p and it is still so now Tournesol. We beat ourselves up at times, but what has changed is: * Price dragged down from 50s to 30s based on Warwick deep and crestal results, when Warwick was never previously drilled and never in the 2C resource nor had significant value in the share price. * Price dragged down from 30s to low 20s on mischievous analysis of water cut from jellyfish models leading to offloads of water diverted to Germany, when Dr T provided evidence that it was peached water * Price dragged down from low 20s to mid 10s on reading the RNS as decision to abandon a commercial rate flowing Lincoln well when infant it was application to extend suspension. So price knock down twice over from GWA. It is also relative. Over the last 6 months, the share price drop is: Tullow -92% Enquest - 37% after rising 48% mid term PMO - 72% All three have huge net debt to market value ratio and higher risk from servicing the debt at lower oil price. Craine - 62% with hardly any debt so a better yardstick? Hurricane - 76% which will reverse once the doubts over the FB concept is finally resolved. We just have to wait for this to reverse as it has a number of times over the years, and given the advances Hurricane has made over the years. Russia and SA will come back to the negotiating table as before, once the 3MM bpd produced by private firms in US is made unviable at lower prices (or the threat of future price meltdown) and austerity in oil producing countries starts to bite. There is also speculation this may happen earlier once Putin consolidates his grip on power and longevity " .. amendments which are expected to pass through three parliamentary votes this week, would strengthen Mr Putin’s grip on power to the point where he could remain as president." ..... "and if voters backed the overall constitutional changes in a “people’s vote” set for April 22." Good Luck All.
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?
grandmaster1: For once I must agree with NGMS who only highlights negatives. In a couple of months we have gone from Lancaster humming along nicely, a discovery in Lincoln to be tied back to now having to spend $150m+ on two appraisal wells that I do not believe were planned before. The Lancaster 8 in my view is a very positive development as I believe the risk of it being a producer has to be very very high unless you believe that Lancaster is a failed concept (in which case one should not be invested). But the investments to increase capacity on the AM and a good result at Lancaster 8 will result in a higher share price, no issues IMO in financing with the likelihood that the convertible will be converted as the share price goes up. Also on this and other forums, the figure of $300m keeps getting quoted (because of a stupid article with factual errors). That is not correct. The CB is $230m and if you add 10 quarters remaining of interest, you get to c. $265m. Lastly, though I am not a fan at all of amaretto1's style, he is absolutely right. The shares going down is not at all because of short sellers. Over the last 5 days HUR has traded over 200m shares. The shares are actually not easy to borrow. The vast majority of shares traded are by long holders bailing out. What short sellers may be doing is weaving a story of fear and doom to drive out the long holders so that they can cover at a lower price. Maybe that is working. But the company's poor communication strategy (imo) and the turn of events have not helped them. Now having said all that, the share price reaction is ridiculous. The shares are trading at 2x cash flow and though NGMS keeps saying, yes but they have to invest that, I don't think those investments are wasted money notwithstanding the fact that I would rather they tie back Lincoln and drill Lancaster 8 rather than drill two appraisal wells. The other alternative for the company is to just produce the Lancaster EPS and not make any new meaningful investments other than maybe one more well in Lancaster and that would justify multiples of the current price. These investments should help both increase production and therefore cash flow and they should increase confidence in the very substantial reserves the company believes it has (and I do to).
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.
togglebrush: Recent share price bun fight with Fast Trading an Analysis ‘ Tue 28 Jan … volume 11m Price open 24.82 to close 21.60… Beginning ‘ Wed 29 Jan … volume 69m Price open 23.02 to close 23.64 ACTION Day on RNS 8 seconds per Trade Very fast trading ‘ Thu 30 Jan … Volume 47m Price open 23.90 to close 21.64 Fightback Day 9.1 seconds per trade ‘ Fri 31 Jan …. Volume 29m Price 21,92 open to close 20.74 to close a Draw 8.9 seconds per trade Last half hour saw very narrow max actual absolute prices 20.97 to min 20.60 in 164 trades (all buys and sells). Excludes on larger price after the bell. That why I call this day a draw ‘ Mon 03 Feb … Volume 20m Price 20.00 open to close 20.26 to close clear up 25 seconds per trade -------------------------------------------------- Follow the money it was the Big boys who drove the fight Example Thursday Trades under 30,000 the EMS value were 82% of trades and volume 13% Trades _over 30,000 the EMS value were 18% of trades and volume 86% ‘ Follow the Action (or possible Day Trader) with average of around £1k trades accounted for between 7% and 15% of the volume per day ‘ Market Makers saw their books busting at the seams with volume rising from some 8 million median volume per day over 2yeasr. Closing actions, which includes MM adjusting their books, saw values of £230k to £135k. Key signal micro trades were noted that are often given intra Broker codes. It is also possible, from timing, that Brokers speed dialled clients their lists after lunch on Thursday because there were hot deals to be done and also allegedly needed help??? Maybe a key in the fight back ‘ IMHO A lot of cash changed hands and this may take some time for share price to recover with some traders taking profits and others adjusting their book so prices and volumes may be erratic in the near term. A re match may be possible in the medium term.
hello31: Pro_S20092 post 9428 "dont be surprised if something not so good pops out in the coming months. Thats based on the reality of the share price performance recently." I would respectfully disagree with you for following reasons: Hurricane already stated in various RNS and the last one just 6 days ago that "We note the recent weakness in the Company's share price and I can confirm that we are not aware of any subsurface, operational or commercial reasons that would have caused such decline. The production performance of the Lancaster EPS wells is above our base case expectations and we remain on target..." As I said before, I am NOT saying discredit all negative news, but just the discredited rumours of water cut, declining flow rates, offload tankers diverted to Germany to hide water they are carrying, debt levels etc etc are being believed, destroying good people wealth, causing them to abandon their holdings and selling into market where there are few buyers with such negativity having been spun. "...NOT aware of ANY subsurface, operational or commercial reasons....." means the company cannot be any clear that there is no substance to claims by others that have driven the share price down. As such the share price before the emergence of false rumours of c38p should be at the minimum restored on CMD. Confirmation of Lancaster 3 drilling with potential first oil Q4 2021, should restore the confidence in current AM EPS 10 year production value of circa 55p. The 55p AM production value attached no value to remaining Lancaster resource.Please see Eddisson report of what this is worth and you can form your own opinion. Hopefully we will also have news by CMD on one or more sub vertical Lincoln wells by CMD and results from this could help us to tie in LC and firm up any valuation of Lincoln resources. None of the Lancaster or Lincoln resource is in share price of 55p - let alone 20p. Not long away to CMD - 7 weeks to stay focused on actual news. Not saying discredit all negative news, rather the constant discredited negative spin. I very much hope those who have been forced out of Hurricane will return and will have their hard earned savings restored. What I am critical of Hurricane for is drilling 2 horizontal wells at Warwick where there was no well drilled previously to obtain the data that provided success for Lancaster. Also the BoD reluctance (except the Chairman at 40P ) to buy shares and demonstrate confidence and skin in the game.
pro_s2009: bocase, generally when bid speculation is around share prices rise. My thoughts, which may be entirely wrong, are that either someone has gone rogue and leaked out some data which can be interpreted two ways - glass half full says all ok - glass half empty says there are issues OR there is a sniff of early debt restructuring and the shorters are using that information to hammer the share price. A question - is Dr T more focused on making sure he has time and money to prove, no matter how many years it takes, that this FB play is viable - or is he focused on the share price. Its very interesting as an ex-holder (and who has no intention of buying back in) to observe this and consider the scenarios, albeit you feel the pain for those currently sat on huge losses. Observing companies share prices, events, opinions, future news events looking back after them in hindsight etc.. provide very good lessons in the future.
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