Another high volume day, steadily rising.
Another high volume day, steadily rising.
60p getting closer…
Yeah, Albi. Traded as high as 54.26p. Watching with great interest (and expectation, I daresay!). Kr,A. -LLV
It’s encouraging to see the share price going in the right direction.
The all time intra day high was on 4th May 2017 when the share price reached 67p.
The highest the share price has been in the previous twelve months is 60.75 on 2nd Oct 2018.
I’m not going to put the kiss of death on the share price by making a near term forecast but we should hit an all time high at the current rate of progress very soon.
I wonder if we’ll get any indication of how the Warwick Deep well is progressing and also the rate at which oil is being produced from Lancaster?
The first few weeks will be about doing everything they can to clarify the reservoir characteristics and to do that, they need to vary the flow rate(s) and observe the effects on the downhole pressure, the fact that oil will be produced as a byproduct of these experiments is just a
Good Evening Everyone,
It’s encouraging to see the share price on the rise. also the price of Brent Crude is also showing an increase. At the time of writing the price of Brent Crude is up 1.69% at $71.42 a barrel.
It’s also worth reminding ourselves of the profitability of Lancaster at a production rate of 17,000 bod. ( 100% to Hur.)
The Corporate Presentation for Q2 2019 shows the profitability at $50.00, $60.00 and $70.00 a barrel. See page 14 of the following link.
The next few weeks / months are going to be interesting. We have much to look forward to and I’m sure Dr Trice will keep us well ( pun not intended ) informed.
I wonder if some of the potential predators will be circling in anticipation of making a low ball bid? If such a bid is forthcoming I wonder what the markets reaction will be? it only takes even the slightest rumour to set the ball rolling!
Perhaps I’m getting one step ahead of myself but who would have thought that Kerogen would have invested a shed load of cash when the share price and the price of oil were both at rock bottom. Also Spirit came along and bought into the GWA. Both these events were out of the blue so who knows what is just around the corner for Hurricane?
Bobsson I agree Mr Goreham is a good presenter, albeit he was presenting a subject for which he has limited understanding. Im interested to understand why no one has picked up on energy security, for the UK. To me this is the main advantage of UKCS development
Hi Carliol my understanding is that vast majority of climatology academics agree CC is happening.
Deniers probably have some vested interest in maintaining high greenhouse gas production.
Skewed judgement was used at NU albeit since 2010 the planet has seen the highest mean temperatures record year after year.
Some of the green lobby are certainly misguided, my view. Fracking for example should certainly be persued, but new coal mines not.
I don’t think it arrogant to see and record the influence humans have on the planet.
Its been interesting you here everyone’s contributikns today, thanks
cwmtawe, And there we have have it. “albeit he was presenting a subject for which he as limited understanding”. Just shows you up for what you are. Or are you going to make up your fictitious cv to try to discredit Mr Goreham? Read Floss`s response again please, and please stop posting your climate change nonsense.
The climate has always changed and will always change, fact. Mankind cannot change the climate. Get it?
Cwmtawe, we have been saying this on this BB for quite some time now. That the Market may not yet have picked up on the strategic importance of HUR to UK’s energy independence/security is astonishing. I agree with you, provided you agree that we have been the exception that proves your rule that “no one has picked up on energy security, for the UK”. But then again, probably they have and are just playing the waiting game to try and out-fox us! That way, they pay less for HUR! Kr,A. - LLV.
His understanding is
limited' only in the sense that he could not have done the original research which underpinned his talk. A little like an opera lover's understanding of opera. It may be very comprehensive even though he could never write an opera, so I would not describe his understanding aslimited’ (especially as I know far less than he does).
The energy security issue is really covered by the price we have to pay in pounds for our energy but as a shareholder of HUR, I would be most unhappy if we sold our oil in the UK at less than the price we can get on the international market. Hopefully, the UK government will not place any restrictions on our freedom to trade freely.
Obviously in the event of war, everything changes, but hopefully our glorious new aircraft carriers will frighten off any potential
UK oil production is now rising after falling below 1 million barrels per day. North Sea oil is typically light sweet high API grade oil. As such a lot of it is exported to blend with heavier oils in the refinery. AFAIK HUR
s oil is light sweet crude similar to the other WOS fields. As already discussed on these bbs the potential output for HURs WOS fields is in excess of 500,000 bpd. Add in the rest of the WOS discovered blocks and yet to be discovered fields and it is easy to see that WOS could easily produce oil and gas in excess of 1.5 to 2 million boepd. Add in the rest of UKCS production and you have in excess of 3 million bpd close to or in excess of the UKs highest oil production ever? However for energy security we need heavy oil to be produced to blend with the light oil, whatever happened to that large heavy oil field that EOG found? Just sitting there undeveloped? So for oil security we need more heavy oil produced from UKCS and UK refining capacity to produce the fuel the UK needs.
Hi Floss I watched the Goreham presentation, he does present well. I just have a problem with the facts he presents. Effectively,I believe he is misleading the audience, it’s my view, everyone can form their own view based on the facts available, not necessarily found in that presentation.
Anyway, I remains invested here since 18p and hope to see another ten bagger. Just hoping the basement is full of free flowing oil and HUR is not sold cheap!
Excellent contribution from you and others on this BB over the years. Thanks
Hi Bobsson do you think lighter grades will be in more demand as shipping switches from heavy oil to light blends. I believe from Jan 2020 ships will need to switch to cleaner fuel blends, reducing Sulfur I’m suggesting will reduce HFO demand and increase lighter grades ??
Just did some research on clued up geologist, these cluded-up geologists suggest otherwise…
"According to the U.S. Geological Survey (USGS), the world’s volcanoes, both on land and undersea, generate about 200 million tons of carbon dioxide (CO2) annually, while our automotive and industrial activities cause some 24 billion tons of CO2 emissions every year worldwide. "
cwmtawe, You are on the wrong thread for the new 2020 IMO rules regarding HFO and reducing air pollution from shipping. Go to the QFI thread. I know all about QFI and MSAR I have lost a lot of money there, thinking it was a good investment and an ethical one as well. QFI want to produce MSAR from heavy oil waste from the refining process. As I have already stated man can pollute the planet Earth and air pollution from shipping is very real.
Man cannot control the climate. If MSAR is so good why has no one bought it?
My question was more about the change in demand(increase) for lighter oil grades as will hopefully flow from WoS. Thanks for the reply
">>However for energy security we need heavy oil to be produced to blend with the light oil, whatever happened to that large heavy oil field that EOG found?
Bobsson, your posts sound very ‘clued-in’ to me. Great writing! However, I take cwmtawe’s point on the change in demand (increase/decrease)due, inter alia, to the ‘tightening’ of IMO standards, but whichever it is, does not adversely alter the strategic importance of HUR (and its Oil) to UK’s energy security/independence. We all need to recognise this in order to shoo off a cheeky, low-ball bid.
Were I either your Minister of National Security or your Foreign Secretary (Mr Jeremy Hunt), instead of the latter shooting off his gums about ‘accidental war’ with Iran, I would consider my time and efforts better occupied in a critical Path Plan B Pilot to see what modifications, etc, etc., etc. were needed to our refinery equipment to effectively and efficiently process our reputedly Light(er) Crude. (Optimal light/heavy mix rate, etc.) But then again, maybe they already have the answer, part of which you have given them in your rhetorical question on the fate of the heavy oil find. So do we have the necessary Heavy Oil resources?
My point is that I believe that the UKCS has all we need for such energy security/independence if we are astute enough to recognise and harness this tide in our affairs. Do our Politicians have the necessary perspicacity to do so? Over to you, Illustrious Bloggers, for the answer to that one. Kr,A. -LLV