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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 Shares Traded Last Trade
  0.03 0.39% 7.74 3,498,862 16:35:13
Bid Price Offer Price High Price Low Price Open Price
7.71 7.77 7.75 7.68 7.70
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 240.54 18.21 0.92 8.4 154
Last Trade Time Trade Type Trade Size Trade Price Currency
17:39:46 O 211,523 7.70 GBX

Hurricane Energy (HUR) Latest News (3)

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Hurricane Energy Investors    Hurricane Energy Takeover Rumours

Hurricane Energy (HUR) Discussions and Chat

Hurricane Energy (HUR) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
17:39:577.70211,52316,287.27O
16:35:137.7485,3876,608.95UT
16:27:337.73200,00015,456.00O
16:22:557.71400,00030,840.00O
16:08:177.7323,9461,851.03AT
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Hurricane Energy (HUR) Top Chat Posts

Top Posts
Posted at 07/12/2022 08:20 by 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 7.71p.
Hurricane Energy Plc has a 4 week average price of 7.68p and a 12 week average price of 6.52p.
The 1 year high share price is 12.34p while the 1 year low share price is currently 3.30p.
There are currently 1,991,871,556 shares in issue and the average daily traded volume is 2,772,215 shares. The market capitalisation of Hurricane Energy Plc is £154,170,858.43.
Posted at 20/11/2022 20:43 by sheepshagger1
It's not a dividend. Its a capital return programme.

Lets say HUR is at 10p on the record date for the 3.1p Q1 pay out.

The next day after this date the shares would be circa 7p.

Capital repayments will affect the share price big time.

By the time we get to 2025 and all the capital is returned the shares will be zero as there will be nothing left of the company.

Dividend payments also affect the share price once paid and they go XD. They usually fall by the value of the dividend

Posted at 20/11/2022 19:38 by bocase
A cash rich, debt free oiler @ 8p share with a possible 3.1p dividend (38.75% based on 8p a share) to come and maybe a takeover at a much higher price with multiple parties interested....

Motaovkid: I agree its a risk work taking but the 3.1p is NOT a dividend. It is a return of cash to share holders so can't be compared to a dividend for one important reason. Once the 3.1p has been paid it will then be reflected in a lower share price whereas a dividend payment would not affect the share price. Having said that totally agree that it should be a superb investment for those buying at this level, providing of course the well keeps producing.

Posted at 18/11/2022 16:44 by sheepshagger1
Copy of letter from the CEO of Harbour Energy in the FT

https://www.ft.com/content/09f55568-63ab-4825-b20b-3df3ce6bcc5c

There are no easy choices for Jeremy Hunt, the UK chancellor ahead of this week’s Autumn Statement (“Chancellor lines up big tax rises and spending cuts: Dire predictions for the nation’s finances spur effort to reduce public borrowing”, Autumn Statement, November 15).

At a moment of national hardship it’s right that we all play our part. But the recent energy profits levy (EPL) on UK oil and gas producers does not, as the chancellor said on October 17, target “genuine windfalls”. The associated investment credit will not offset lasting damage to UK industry and jobs.

Independent companies like Harbour Energy account for half of UK oil and gas investment and production. We have invested twice as much as major oil companies since 2017.

Our businesses use capital to acquire assets from larger companies, and reinvest in them to extend their life, contributing to domestic energy supply and sustaining UK jobs.

We are also beginning to invest in repurposing infrastructure to store millions of tonnes of CO₂ each year, helping the UK meet its energy transition targets and create new jobs for thousands.

For companies like ours to invest, we need to borrow. To borrow, we are required to hedge our commodity price risk. This means we do not realise the benefit of market oil and gas prices. Yet we are taxed as those that do and have already seen a more than 50 per cent increase in UK tax.

The average UK independent producer has seen their share price fall by more than 20 per cent since the EPL announcement. In the same period, the share price of the UK-listed majors has increased by almost 10 per cent and US independents have seen an increase of over 25 per cent. Increased pressure from our global providers of capital for geographic diversification should surprise no one.

Should the chancellor levy UK oil and gas companies further — a second time in six months — he risks driving investment out of the UK altogether.

He will do so at a time when investment — both in production and transforming infrastructure for CO₂ capture and storage — is critical to the UK’s energy security and longer-term energy transition.

Linda Z Cook

Posted at 18/11/2022 13:52 by sheepshagger1
MALCY TODAY:


Hurricane Energy
Hurricane notes the Autumn Statement issued by the Chancellor of the Exchequer on 17 November 2022 containing changes to the Energy Profits Levy. From 1 January 2023, the EPL rate will rise from 25% to 35%. The Investment Allowance will be reduced to 29% for all investment expenditure (other than decarbonisation expenditure) broadly maintaining its existing cash value. The EPL will end on 31 March 2028.

As previously announced, the EPL charge for the Company for 2022 is currently expected to be less than $5 million taking into account capital allowances available in the period as well as the effect of the Investment Allowance that is included within the EPL legislation.

The Company is assessing the impact of the proposed changes to the EPL, in conjunction with its tax advisers. Currently it anticipates that, assuming oil prices remain at current levels, the impact of the increased EPL charge for 2023 and for 2024 will be a similar amount, but this is heavily dependent on the Company’s cost base at the time and the achieved level of revenue, driven by the price of oil.

The Formal Sale Process announced by the Company on 2 November 2022 is progressing, with multiple expressions of interest received from credible counterparties. The Company will provide further updates in due course.

Hardly a battery of information as you can see, but at least the FSP is ‘progressing’ and we should hear something soon. I can’t get any comment from any of the parties so I am not surprisingly unable to add much, on Hurricane that nowadays is situation normal, the brokers have even managed to silence Crystal Amber and that takes a bit of doing.

Posted at 18/11/2022 07:26 by agnabeya
18 November 2022

Hurricane Energy plc

("Hurricane" or the "Company")

Financial and Formal Sale Process Update


Hurricane Energy plc, the UK based oil and gas company, notes the Autumn Statement issued by the Chancellor of the Exchequer on 17 November 2022 containing changes to the Energy Profits Levy (the "EPL"). From 1 January 2023, the EPL rate will rise from 25% to 35%. The Investment Allowance will be reduced to 29% for all investment expenditure (other than decarbonisation expenditure) broadly maintaining its existing cash value. The EPL will end on 31 March 2028.

As previously announced, the EPL charge for the Company for 2022 is currently expected to be less than $5 million taking into account capital allowances available in the period as well as the effect of the Investment Allowance that is included within the EPL legislation.

The Company is assessing the impact of the proposed changes to the EPL, in conjunction with its tax advisers. Currently it anticipates that, assuming oil prices remain at current levels, the impact of the increased EPL charge for 2023 and for 2024 will be a similar amount, but this is heavily dependent on the Company's cost base at the time and the achieved level of revenue, driven by the price of oil.

The Formal Sale Process announced by the Company on 2 November 2022 is progressing, with multiple expressions of interest received from credible counterparties. The Company will provide further updates in due course.

Posted at 09/11/2022 09:30 by deltalo
The dividend would be a better return, as the share price would rocket, I mean even with a share price of 20p where else would you get a 15 percent on your investment!I can't see 7.7p being excepted tbh.
Posted at 08/11/2022 17:56 by sheepshagger1
"With possible Dividend payout a possibility, wanted to get my holding into an ISA, so thought that's ok, will double my holding and sell off original, as modest profit on sale would be capital gains (but not above threshold) but dividend tax would be bad news tax wise. So from a selfish point of view want share price to stagnate around 7.0 to 7.5 for a bit. Hoping to buy and sell around the same value, but with all the turmoil HUR has dealt over the years, don't want it to have 1 last laugh at me."


Can someone inform PROFITORLOSS on LSE that a capital return programme which HUR might do is not the same as a dividend payment.

There is no tax to pay by anyone on the 3.1p Q1 2023 figure

Posted at 06/11/2022 09:03 by kooba
https://www.hurricaneenergy.com/investors/financial-restructuring-documentationThe company production forecast in the business model from May 2021 is not out of line with actual production.Currently at 8100 bopd seems to be falling by 100 bopd with water cut increasing 1% a month roughly speaking. The shut down ( in Sept) often leads to a blip up when production resumes and a slight drop in water cut..it then catches back up with the normal incremental decline. I've looked at the replenishing well idea and I haven't necessarily been convinced that it will extend economic viability though there was a small increase in estimated recoverable. The economic life of the well could extend slightly with higher oil but obviously there is a high fixed cost and and as we move into the 6000's bopd the big net money is no longer coming in.Re other stuff think you need to realise that Hurricane doesn't own the AM and has it on a short term rolling contract ..so moving it here and there is not really something they have control over.Foinaven is not producing and has been a nightmare for BP who are looking to sell it. If they wanted to recommence production they would get their own FoSO or just negotiate with Bluewater if they wanted the AM in particular , who would happily give Hurricane 6 month notice for a long term contract with BP.Nice to talk of possibilities but they are very much out of ideas hence FSP ..they hope to flush out a higher bidder but the data on the company is well thumbed already.The best for shareholders might well be running this to distribute cash as if the well holds up should offer higher return than the offer that was made..I am bullish on oil and the operational gearing on higher oil means we could get near 12p if the price moves back up by 15% or so..so gives a ride on that.If the oil price falls then that in reverse. If the ESP fails in the short term shareholders will get less..replacing the pump neither easy to get rig and rather expensive I understand might not be worth it.So running for cash and keeping one's fingers crossed might be the best option if you accept the risk. If they get an offer nearer 10p should rip the bidders arm off...all imho.
Posted at 02/11/2022 10:05 by fat frank
I posted the below a month ago:

"Fat Frank - 04 Oct 2022 - 09:45:07 - 35526 of 35943

From CA statement:

'The share price weakness enabled the Company to take advantage by increasing its shareholding to 29% of the company. Having previously banked profits of GBP43 million on Hurricane, the average cost of the Company's current shareholding is 6.7 pence a share.'

It worries me that their average price paid is only 6.7 pence per share. With c600 million shares even a deal at 10 pence would make them over £20m"

CA's average price of 6.7p a share still worries me

Posted at 29/10/2022 13:28 by senseman
Energy Profits Levy + Other Matters Today 13:57 LSE
EPL will almost certainly be increased and/ or extended. Politically & financially now almost unarguable. The crucial question being – will small oilers (HUR) be protected (as should be) or it applied broad-sweep (most likely).

Other Matters
Have just finished short ban to the naughty step by Moderator. Thursday am Daltry called me a 4 letter word. I returned the compliment. A certain poster (one wonders who?) reported me. Only my post was removed. So I reposted same. Again – complaint - removal. So I reposted 3rd time. Moderator finally got message & removed both posts. But senseman briefly on naughty step for temerity of reposting removed comment. Such is life.

Yesterday Daltry proposed (07.44 am) that I construct a template email for all to send re CEO removal, because ‘…heR17;s good at writing such presentations.’;

In June 21 pre-court my reward for sweating blood for the cause was (i) my area location being posted on forum (ii) receiving 2am-6am silent phone calls to my home over a 2 week period (iii) a stranger posing as a former acquaintance visiting my building & pumping my neighbours about me. RB & I decided not to put this information before the judge because, already confident the restructuring application would fail, we did not want to occupy court time and risk muddying the waters to HUR & ad hoc bondholder group advantage in any way. I do not know how my name, address & phone number were obtained. What I can state is that those details were included in standard query emails to HUR sent when I first became a SH.

The reason people propose actions but do not themselves construct template emails & nurture others to send is that doing so requires considerable time & effort, and is stressful. And by raising one’s head above the parapet, one becomes the cat easily kicked.

I understand why any ex-bondholder(s) may actively belittle me and certain others – it’s hard to lose an expected free windfall – but then again why cry so much about something which was never rightfully yours? My sadness & confusion is why others who are not ex-bondholder do so. Whilst at the same time expecting difficult emails to be written & promoted which seek to hold the BoD to account and support the share price By the way, I firmly believe that carefully selected emails do impact by, minimally, providing backup and ammunition to CA & responsible NEDs. There is one which might usefully be collectively sent prior to Xmas. But I doubt I will be the writer as currently I feel like the cat kicked once too often.

Note to Moderator - I have carefully read posting rules and this post does not trangress any.

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