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
  -0.18 -2.41% 7.30 5,562,883 16:35:28
Bid Price Offer Price High Price Low Price Open Price
7.25 7.45 7.77 7.25 7.35
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 240.54 18.21 0.92 7.9 145
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:28 UT 127,636 7.30 GBX

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Hurricane Energy (HUR) Discussions and Chat

Hurricane Energy (HUR) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2022-06-24 15:35:287.30127,6369,317.43UT
2022-06-24 15:29:377.251,12881.78AT
2022-06-24 15:29:227.3226,1571,915.50O
2022-06-24 15:29:207.282,348170.93AT
2022-06-24 15:29:207.289,205670.12AT
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Hurricane Energy (HUR) Top Chat Posts

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 7.48p.
Hurricane Energy Plc has a 4 week average price of 5.75p and a 12 week average price of 5.75p.
The 1 year high share price is 12.34p while the 1 year low share price is currently 1.51p.
There are currently 1,991,871,556 shares in issue and the average daily traded volume is 12,774,417 shares. The market capitalisation of Hurricane Energy Plc is £145,406,623.59.
mirabeau: Crystal Amber says that if production from Lancaster continues on its anticipated trajectory, Hurricane should be able to generate revenues of approximately $550m (£409m) and operating free cash flow of $278m (£207m) by 2024, based on Brent prices of $85.4 per barrel and the forward curve. The fund notes that P6 is currently producing in excess of Hurricane’s guidance, with January’s output above the 9,100 bpd forecast for that month. It adds: “The Fund believes that production could be extended through to at least January 2025 and, if so, based on the rate of production decline published by Hurricane in May 2021, this could generate revenues of approximately $750 million [£558m] and operating free cash flow of approximately $375 million [£279m], equivalent to 14p per share.” In the event of any corporate transactions, Crystal Amber said additional benefits to shareholders could also be realised from the company’s historic tax losses. and Life extension Ashley Kelty, an oil and gas analyst at investment bank Panmure Gordon, said there was “likely to be greater recovery” from the Lancaster field, but that additional work would be needed to sustain production and longevity. “Given that crude prices are much higher at present – and not likely to soften any time soon – the economic cut-off is likely further out. However, Hurricane is in a trickier position as it would have to extend the lease for the FPSO in order to recover those reserves,” he said. “If it does extend the lease, then it would likely have to reinvest in the field to increase production.” “The next few months will be key – whether Hurricane does extend the lease and manages to repay the remaining debt,” he noted, but said that with oil prices at $90/bbl, its lease should be extended.
gersemi: Hurricane's bulging coffers should open up new opportunities - 10 June Canaccord Genuity upgrades Hurricane Energy to 'speculative buy' Analysts at Canaccord Genuity upgraded exploration and production firm Hurricane Energy from 'hold' to 'speculative buy' on Friday, stating the company had "weathered significant storms" that had nearly left it shipwrecked. 17:30 22/06/22 Canaccord Genuity said Hurricane's fortunes appeared to have changed, with winds "gentle" and the waves "calm", while all the elements also appeared to be "responding kindly" to the company's wishes. "It is clear how this transition has come about; good operational management, continued better-than-expected P6 well productivity, very high levels of operational performance from the Aoka Mizu FPSO, and much-improved oil prices," said Canaccord. "It really needed convergence of all these to put Hurricane in its current position, where the company has rapidly pivoted from a potential existential threat to a much brighter future with growth options." The Canadian bank, which kept its 9.0p target price on the stock unchanged, highlighted that largely fixed costs had enabled a matrix of production/oil price combinations that defined project cashflow neutrality. "At our oil price assumptions, that is around 5,200 bopd, but more optimistic oil pricing (though still in line with the forward curve) would reduce that level to around 4,600 bopd. Based on guidance production declines that would extend production by about three months," said the analysts. "On that basis, assuming continued single well production, we anticipate positive asset cashflow into early 2024; and an additional successful producer would extend that to mid-2025."
senseman: kooba - last post is what i posted on lse earlier. i agree share price a pain - I take comfort that it's only PIs (who own circa 20% HUR so smallish 'free float') selling which has driven share price down. so not overly worried as good news will see flow back in. and as you say, $ strength is good. uncertainty and need for patience always the killer. we are stuck in 'wait & see' time. windfall tax will certainly have both HUR & CA scratching their heads. and for us Brent price a godsend
senseman: Yesterday's musings omitted the obvious proviso and biggest HUR risk - namely the single well dependency. Any problem, even a 2-3 week shutdown to get 2nd pump up and running, would significantly impact recovery progress & share price This concern will have been CA's biggest impetus for timely exit as soon as share price reached acceptable level. Even a Rolls Royce (well 6) breaks down occasionally. And full credit where due to Maris that operational performance has been exceptional. Others knowing his background have posted that he is a good COO, which requires different skill set to CEO. Whereas pre-windfall tax the intention may have been to not address the single well dependency by risking investment funds, the tax effectively obliges HUR to now do so (the no-brainer) in preference to donating funds to taxman. The single well risk has always been live. It was just pointless expending much thought towards resolution whilst bonds still live and zero or piddly free cash. And that without having safety first chief execs with no skin in game save salary, and CA's winding up position. The new tax, and soon to be decent free cash protection, changes things dramatically and enables the single well position the issue to be addressed. The question now is - how quickly & pragmatically can it be addressed?
senseman: Been musing CA SHs are happy SHs as significant dividends are a regular feature. It would be a fair guess that, pre headache tax announcement, HUR planned to throw off part of increasing free cash as special dividend, then repeat at 6 monthly intervals. I can imagine 2 things may have been planned:- (i) 3-5p as special dividend (ii) investment partner sought for LanFax, with HUR providing licenses, acreage & AM, partner providing cash, profits split 50-50. HUR thus at zero financial input exploration/development risk. Thus HUR (& CA SH cash) finances wholly derisked. Good deal for HUR & new partner. Special dividends would negate HUR's cash mountain being donated at huge discount as part of any eventual sale of HUR in total, or CA's 28%. Consider the selling a car analogy - a buyer usually wants all the extras (aircon, satnav etc) for top of the range model thrown in for free. HUR has acreage, licenses, FB knowledge, data, mega Well 6, AM, huge tax credits....and growing cash pile. It makes sense to not include the cash pile as part of any deal in which the seller will never get fair/full value. Better that cash goes to SHs whilst retaining smaller safe operating cash pile. Now consider 5 things:- (a) Do the sums and find that IF Brent stays at $120, by end Jan 23 (4 more offloads) HUR free cash will be circa $200 mill NET of 25% windfall tax. (b) Well 6's recent stabilisation trend is outperforming all expectations. Should that trend continue, allied to long term Brent above $100, the genuine possibility arises of Well 6 economic production alone extending to Jan 25 or even beyond. This raises the question - how much free cash profit over and above $200 mill would this throw off? A further $250 - S300 mill Jan 23 - Jan 25? $500 mill equates to 25p in dividends alone (c) Windfall tax underwrites (F.O.C) all or bulk of HUR's at present 'go it alone' sidetrack/ 2nd well development. What if it succeeds in good time? (d) The above means that HUR (& CA) can continue their possible plan to use profit flow for regular dividends, with the benefit of a small forward plan underwritten by windfall tax sums. (e) Given this rapidly changing landscape & increasingly positive financial upside, CA may be minded to seek it's SHs' agreement for extension of time for winding up it's HUR element. Why exit HUR whilst zero risk cash is being thrown off? More time = more cash + more time to find partner/ buyer willing to agree fair value deal? As I said - merely musings.
senseman: There has been much argument since last Dec re 2 aspects restraining market confidence (i) single well dependency (ii) chief execs. Always thought arguments a snooze till July as HUR hamstrung till bonds gone + $100 mill spare in bank. Can't do anything without money. Well 6 problem free till July was only imperative, with as high Brent as poss. Prayer mats were used - prayers answered - and now HUR has (bar the shouting) done it. Despite offload due end July It may take till mid August monthly cash & production update for a semblance of formal financial clarity to impress market (bonds gone + $100 mill in bank). Meanwhile the windfall tax curveball should necessitate the (i) single well dependency issue to be addressed - there is June update, AGM ,& July update for this to occur. The tax may transpire to be a blessing in disguise (at $120 HUR receiving $100 Brent cash profit + free exploration/development). Meanwhile If (as seems probable) (ii) CA have resolved to stick (and not twist) with chief execs, the BoD confidence issue will likely remain unaddressed. CA cannot be blamed. It is important we PIs recognise this. CA did not elect to be wound-up, and are obliged to do what is best for their SHs within a certain timespan. It will be the inevitable first time that CA interests to a degree digress from PIs. Put another way - I am sure CA's exit timeline & decisions would differ if they were not obliged to wind-up - they will know the potential lost upside of a 2nd producer allied to dynamic new chief execs fully aligned with SHs interests. Whilst current share price malaise is inexplicable & unnerving, the next 2 months will see considerable positive news flow & likely increased positive media coverage. No institutions are selling, It is only PIs 20% being sold/bought currently dictating share price In Jan this year all SHs would have given eyeteeth for HUR to be in it's current position. I expect mid Aug to see markedly different SP
sji: So, according to last Operational Update, on 30 April 2022, HUR had $92m in free cash and the share price was 9.5p. Yesterday, the latest offload has left our Lancaster oil field, so probably the sale has been logged in. Within a few days, HUR should get circa $45m in net cash (probably much more). After deducting some $8m for monthly expenses, HUR should end up with some $129m in free cash and the share price is languishing at 9.0p! Well, it all adds up, does it? NO!!!! IMO, once the market gets the long-awaited news from our BOD of what they are going to do with all this free cash, HUR's share price should double instantly!
sf5: Is it reasonable to assume the HUR share price is being impacted by the growing clamour for a windfall tax? This pop article suggests the the net will be cast wide (so perhaps as a % lower than had it been restricted to UK producers) hTTps:// Presumably it would be levied on last/current/or next year's profit? Before or after interest? I wouldn't have thought that accumulated losses could be offset. Article talks of a 10% rate, but that's just Labour's working assumption. Perhaps we should look at how the 2011 windfall tax operated?
sji: If HUR still has $180m in cash at end-Dec 2022, I would be highly disappointed with our BOD since it would mean that they are still evaluating what to do with HUR's cash pile! I hope that we start to use that cash mountain VERY soon as this is the only way our share price will substantially rise from current levels. Also do not forget that HUR agreed with BP a few weeks ago to get payments in advance from BP for forthcoming offloads. This is a clear indication that HUR will need extra cash very soon probably because of some corporate activity or new well drilling. Obviously, this is all IMO.
dan de lion: In fact expanding on post 33554, HUR(with no upsets) could have by the end of this year, have more cash in the bank than its current stock market valuation, surely something has to give re-the SP, sooner or latter. Of course there are the tax losses which also make HUR a likely take over target, with the consequent boost to the share price if forthcoming. All making a mockery of the current share price IMHO Pardon me, for stating, the bleeding obvious!
Hurricane Energy share price data is direct from the London Stock Exchange
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