Archived articleThis is an archived article from 2014 - please note that any content within the article may be out of date.
Hurricane approaching
Hurricane have this morning issued an RNS summarising the analysis of the production test a few months ago.
Rushing out to a meeting right now, so no time to expand but basically says they need just one additional well in order to fast track initial production of 20k bopd.
Seems promising, albeit a little less informative than I'd expected.
I have been adding to my already substantial position over the past few weeks and made what will probably be a final purchase this morning.
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8 comments
Hi, I actually just bought back in yesterday in the speculative part of my portfolio. Given the reserves at play, the recently announced beneficial changes to the U.K. North Sea tax regime and a brighter outlook for POO, I thought the opportunity to get in at 20% below the placing price shouldn't be missed. I am expecting a major to be interested in a farm-in during the course of next year.
Hello -calling NW....anyone there?
Half year report out this morning
www.investegate.co.uk/hurricane-energy-plc--hur-/r...
mention of possibility of Early Production System
Sounds to me that an EPS would be feasible at low cost implying that the fund raising required would not be excessive in scale and hence dilutive effect.
I am expecting that a farm-out will get announced in the next few months and that the revised CPR mentioned in this morning's RNS will therefore be able to make conclusions about promoting resources into reserves.
All looks on target to me.
Given the share price depreciation I reckon the Hurricane has now blown over. Bit of a damp squib if you ask me.
I'd look to top up in the low 30's
Well that's me in for small nibble, sub 40p.
I have been watching since the original Lancaster result and held off buying due to exuberance elsewhere and being bitten by buying Xcite Energy post well results. Let's hope my timing is better here.
webcast interview with Robert Trice - CEO
www.proactiveinvestors.co.uk/companies/stocktube/3074/hurricane-energy-boss-on-lancaster-well-result-3074.html
Anyone got a good estimate of current cash position? I'm sure they burned a lot of cash on the last appraisal and don't they have another drill to do. Could explain the lacklustre response today.
No quite true. That's 20k bopd PER well drilled with a 1km horisontal section as per the appraisal well :)