Hurricane Energy Live Discussion

Albi1 10 Feb 2020

Warwick & Lincoln 3 wells drilling 2020 Ash, can relate to that, just hoping we don’t break 10p! Though even that has a bright side - might be able to top again!

Albi1 10 Feb 2020

Warwick & Lincoln 3 wells drilling 2020 Hello Bobsson Thanks for sharing your thoughts on current status. I’m not sure we really quite know what’s going on right now. Your hypothesis sounds very reasonable but we don’t know what Dr T does and doesn’t know or what he might have up his sleeve -not at this stage. As one poster on Advfn noted and it made me smile, we’re not too far away from Hurricane generating enough cash to put in a bid for Spirit at this rate! Fingers crossed on 20,000bpd - roll on CMD.

Ricfle 10 Feb 2020

Share Price Bobson Do you think this will not hit 13p with a 10% drop today for no reason? Another 10% and we are there, I will need to look at my target price in the next few days as it is looking a bit toppy.

Ricfle 10 Feb 2020

Share Price Bobson bobsson: Hard to believe but share price now below 16p on 10/2/2020. Not really! 6/02/20. Ricfle: 13p is my target.

bobsson 10 Feb 2020

Share Price Hard to believe but share price now below 16p on 10/2/2020. WTI around $50 and Brent around $54, but seem to be stabilising around there. I can see shale drillers in US parking rigs, and non OPEC cutting back production at these low prices, for fear of losing money. OPEC likely to cut back in an effort to boost prices, they need high oil price to survive. We will have to watch and wait

bobsson 10 Feb 2020

Share Price riverside_red: No takeover this side of a Christmas. By BP anyway. The eco terrorists are doing a good job, they clearly have BP rattled.

Ricfle 08 Feb 2020

Warwick & Lincoln 3 wells drilling 2020 bobsson: Albi1, I think HUR have already come good. What they have achieved so far is a magnificent achievement. With a share pricer of 17p, what could possibly lead you to that conclusion?

Ricfle 08 Feb 2020

Dividends bobsson: “The presentation give a figure of $187.5m for this work”. No it does not. Try again. I will give you a clue what expenditure have you missed out? No need “GWA tie back, WOSP tie in and FPSO modifications are $187.5m” minus long lead items, end of story. bobsson: “Where is the dividend coming from” Its coming from the cash the EPS is generating. The cash the EPS is generating will be spent of increasing production in the near and far term, or the OGA will revoke Hur licenses. Hurricane cannot just fiddle about for years without a funded plan to develop their assets. So no dividend for at least 7 years, if not longer.

fynne 08 Feb 2020

Warwick & Lincoln 3 wells drilling 2020 [quote=“ash6666, post:66, topic:1150816”] Thanks for your post above which expands on my thoughts which never get past the, “I have no clue” stage these days [/quote We’re all guessing what the next step will be aren’t we? … think we all have a wish list of what we’d like to see but that’s just that “a wish list”! There are many possibilities but most are months or years away … what we need are firm plans and atm we don’t have any. IMO the share price has suffered because of thIs loss of direction.

ash6666 08 Feb 2020

Warwick & Lincoln 3 wells drilling 2020 Bobsson Thanks for your post above which expands on my thoughts which never get past the, “I have no clue” stage these days.

bobsson 08 Feb 2020

Warwick & Lincoln 3 wells drilling 2020 Albi1, I think HUR have already come good. What they have achieved so far is a magnificent achievement. I think a lot of people know more than has been released to the shareholders. Clearly Malcy has talked to HUR (probably Dr T) and been given far more than was in the RNS. However I doubt that Dr T is privy to the sale process and progress of the Spirit sale. It will be up to Spirits buyer to decide if they want anything to do with the JV, if not Spirit will walk away, paying whatever compo is due under the agreement. Hence my belief the JV is paused. The OGA know it is paused, and are not happy about it, the “ambitious” drilling programme announced in 2018 by the JV has been proved to be exactly that. So now HUR are struggling to keep the OGA onside and quickly having to come up with a plan B. We know all the negatives that have trashed the share price, so the positives needed to assist recovery are: production of 20,000 bopd recovery in the oil price to $70 + now end of this year due to virus, + see the articles on share price thread. confirmation AND details that capacity of 40,000 bpd on FPSO and gas export to WOSP is happening. Water cut on current wells is stable or decreasing Success with next Lancaster well. Lincoln sub-vertical is a positive result, and I have no clue as to what it is intended to achieve. Just my views

bobsson 08 Feb 2020

Dividends The presentation give a figure of $187.5m for this work.

Ricfle 07 Feb 2020

Warwick & Lincoln 3 wells drilling 2020 Albi1: personally I take the view this will come good, to sell now would be to take a ridiculous loss when the company is making money! CMD is just round the corner … What happens if Hur RNS that Lincoln is to be plugged and abandoned in March around the time of the CMD? Albi1: I personally now feel that MMs have been privy to information that they shouldn’t have been. I feel they’ve exploited potential weak spots to profit. Pure rubbish, MM are the house at a casino or the betting shop they have no interest in any shares, they go up they go down MM could not care less, they make a profit either way. One thing they do not do is bet with the punters.

Ricfle 07 Feb 2020

Share Price Albi1: Gave you the reference before, funnily enough you didn’t read it then either. Must have been of no interest like 99.9% of your posts.

Ricfle 07 Feb 2020

Dividends bobsson: an unknown $$$$ amount for host modifications to the FPSO to handle the extra production and gas. iirc the gas handling facility on the FPSO has to be re-activated. The presentation give a figure of $187.5m for this work. bobsson: Phase 2 HUR pay 50% of $187.5 million, say $94 million of the cost of the tie back of LC to the FPSO Hurricane would have had to pay $46.9m or 1/4 of the cost. If Spirit is no longer interested and Hur go it alone they will have to stump up the whole $187.5m plus the long lead items etc, see phase 1 minus phase 3 drilling giving $75.6m then there is this years drilling costs $105m which were going to be split 50/50 with spirt, now looking like Hur 66% or $70m, or a grand total of $333m. Where is the dividend coming from?