riverside_red
07 Feb 2020
Share Price BP announced they are slowing the pace of their Clair South project plans as it looks for improvement in the project’s green credentials. No takeover this side of a Christmas.
Albi1
07 Feb 2020
Share Price Gave you the reference before, funnily enough you didn’t read it then either.
Albi1
07 Feb 2020
Warwick & Lincoln 3 wells drilling 2020 Ash/Bobsson/Floss Ash - of course your choice, 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 … Bobsson / Floss - 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. In no way do I think that should reflect on Hurricane, a lot depending on talks with OGA etc. Let’s see what CMD brings before making any assumptions. Things change!
Nelly
06 Feb 2020
Dividends Flossoffa: despite the shenanigans, HUR is still a far better prospect today now it is actually generating funds than it was when its SP was multiples of today’s price whether some choose to agree with that as a current vision now or not would surely all depend on their average purchase FLice
Flossoffa
06 Feb 2020
Dividends bobsson: End result 2022, 35,000 to 40,000 bopd all for HUR. Yes the loss of Spirit and the consequent(?) collapse in the SP as they(?) dumped their unwanted shares has clearly concentrated Dr T’s attention on generating the dividend stream that will rejuvenate the SP. There was always the great danger that the successful geologist and explorer would use the funds generated on Lancaster to drill and drill until the money runs out…that’s what optimists do when things going well convince them that they really do have a special magic. He (and we) can now see just how perverse the market can be but fortunately he is in a position to adjust his strategy accordingly. Shares can clearly be rated on their `potential’ or on their actual returns. The HUR potential was attractive until Boris banned sales of new petrol/diesel cars by 2035. That underlined the fact that we could have been spending hundreds of millions discovering new oil fields that would barely pay back their discovery and development costs before the UK market for oil started to decline and more oil was not needed. Of course, the techies know that Boris making an announcement does not bring into being either the infrastructure of charging points and power stations or the improved batteries that would be needed to tempt Joe Public into going electric. But it is not the techies selling their shares but Joe Public who does not know his A from his E but was panicked into dumping his shares seeing the fall initiated by Spirit. But despite the shenanigans, HUR is still a far better prospect today now it is actually generating funds than it was when its SP was multiples of today’s price but it was just a company offering nothing more than Flomises
bobsson
06 Feb 2020
Dividends The the relevant RNS 3/9/2018 is on this website. In phase 1 Spirit are paying (have paid) for three wells + long lead items for future drilling, (good luck with that) and 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. Phase 2 HUR pay 50% of $187.5 million, say $94 million of the cost of the tie back of LC to the FPSO (not going to happen by the look of it) the cost of completing the mods to the FPSO (de bottlenecking) and the tie back to the WOSP. I would guess that $94 million will pay for the latter work. HUR then have to pay for the drilling on Lancaster and the tie back to the FPSO, $150 m max? HUR have $150 m now and are bringing in $20m + every month. End result 2022, 35,000 to 40,000 bopd all for HUR. I will now wait until the CMD in March for HUR board to confirm my understanding is accurate. DYOR
bobsson
06 Feb 2020
Dividends Ricfle/Nelly, Wrong. I have told you this before. The potential capacity of the FPSO is 40,000 bopd. The current capacity is 30,000 bopd but is constrained by gas flaring restrictions to just over 20,000 bpd. The tie in to the WOSP will have to happen irrespective of whether the Lincoln Crestal well is tied in to the FPSO, if HUR want to increase the throughput of the FPSO. Your figure of $187.5 million includes the cost of tie back of the LC well to the FPSO, which does not look like it is going to happen. The cost of the host modifications to the FPSO to 40,000 bopd and the tie back to the WOSP will therefore in the circs have to borne by HUR. If Spirit then come back on board and the JV proceed to produce from the Lincoln field and if that production is exported via the FPSO and the WOSP then Spirit will be on the hook for the historic % of costs that HUR incurred by going it alone. It may very well be the case that by the time Lincoln well is re-drilled (if the ok is not given in March) there will be no spare capacity on the FPSO to handle the oil, because HUR will be producing 40k bopd from three wells on GLA. IMHO DYOR
bobsson
06 Feb 2020
Dividends Ricfle/Nelly (whichever is in today) a) 40,000 bopd is the potential production capacity of the FPSO. b) Exactly the reason why I do not put all eggs in one basket. Will not sell others to buy more here!
Nelly
06 Feb 2020
Dividends bobsson: States the company intends to fully utilise the 40,000 bopd production capacity of the FPSO 40,000 bopd I wasn’t aware the good Dr T did stand up SP @ 18p eh who would have FLunked that just a few months or even a weeks ago oh and bob Lancaster/Halifax drilling 2020 These are great value at 18p to buy. But I dont have the money to buy more! putting all your eggs all into one AIM basket is the quickest route to pension pot misery and insolvency
Ricfle
06 Feb 2020
Dividends bobsson: States the company intends to fully utilise the 40,000 bopd production capacity of the FPSO. There is not a 40,000 bopd capacity of the FPSO. To achieve this it will cost approx’ $187.5m (see the Spirt farm in RNS). HUR have to fund the new Lincoln well(s) the potential plug and abanonon of the existing Lincoln well and a new Lancaster, well including long lead items. A total cost of at least $250-300m to HUR.
bobsson
06 Feb 2020
Dividends Ops Update RNS today 6/2/2020. States the company intends to fully utilise the 40,000 bopd production capacity of the FPSO. " Increased production through the Aoka Mizu FPSO would improve unit economics and generate increased operating cash flow for providing returns to shareholders and/or funding future phases of development". Note the “returns to shareholders†this could take the form of dividends, share buybacks, and/or buying back the convertible bonds. They could produce 40,000 bpd for 10 years, then replace the current FPSO with one that will produce 100,000 bpd for the next 15 years. Should produce good income with chance of a big capital gain if a bid comes in.
Ricfle
06 Feb 2020
Share Price Albi1: (Ricfle - read the Sep '19 RNS) Which one there are five? Just state plainly what you mean there is no need for a quiz. If you mean the half year up date, just look at what the last 4 RNS’s have done to the share price.
Ricfle
06 Feb 2020
Share Price ash6666: It now turns out there was a very good reason for the SP drop. Nothing that we have not been forwarded about.
Ricfle
06 Feb 2020
Share Price fynne: “no reason for the SP drop†… how low will this go I wonder 13p is my target.
bobsson
06 Feb 2020
Lancaster/Halifax drilling 2020 The RNS today 6/2/2020 shows that HUR are negotiating with Spririt and Transocean to take part of the rig hire contract on a sole basis to drill another Lancaster well in the next few months. That is good news, because the value for HUR is on the GLA and not the GWA. We are now producing 20,000 bopd we will be offloading again sometime this month, which give time for the oil price to recover. HUR have sold all the oil for an average price in excess of $60 per barrel, the cash is flowing in. These are great value at 18p to buy. But I dont have the money to buy more! IMHO DYOR NAI
