Agree longer term we have something the world wants, so probably the best place to be! I was thinking at a lower logistical level as well - deliveries/supplies/personnel/ offloading and selling the oil. Do you think there could be bottlenecks that hold up our plans? if only temporary due to a hard Brexit?
ipdip, I cannot see a clean (hard) Brexit having any impact at a logistical level on HURs plans.
Good question, not that I’m aware of but good to have on the radar.
Given that oil companies operate throughout the world under every conceivable type of political regime, I don’t think brexit will actually make a huge difference one way or another to HUR as a company. Almost every other aspect of business, yes, but oil is a different matter.
I would also say that any outcome (apart arguably from a complete abandonment of the brexit process by revoking article 50) is probably going to lead to Scottish independence, and I suspect Irish re-unification. The way that Scotland in particular has been treated in the brexit process, basically ignored and told to sit down and shut up, has opened a lot of eyes. I think in NI a similar awakening is happening, with a hard choice having to be made no matter what shenanigans Westminster tries to come up with to deal with the border issue. I won’t go into detail on the likely effect on HUR, but I can see lot of upside from a government that can work co-operatively with oil companies. However nothing about brexit could surprise me now - it is beyond parody, with the UK government and the largest opposition party paralysed.
The same applies to Yorkshire, no wonder the tikes are
In case you have not seen this, heretofore. If no interest in Premier Oil, just cut to the chase in HUR’s.
Kr,A. - LLV
Hi Alibi_8, Interestingly, found myself listening to Mhairi Black of the SNP this afternoon, speaking with humour and presence in the House of Commons. I am no fan of the SNP or most politics frankly but felt she called the Government to task very nicely for treating Scotland as a region instead of a country in this ‘B’ fiasco.
The value of oil (in dollars) will not be affected by Brexit because it is a function of world supply and demand and so our fundamental value will be unchanged. The value of the pound however will be more volatile once we decouple and so our SP will also be more variable, going up when the pound goes down and vice versa (or at least that is how it should go logically). If the pound falls on Brexit which would appear to be more likely, having your cash in dollars or a dollar priced commodity is obviously going to be a good thing.
There will be many investors who realise this and so there is likely to be a move into commodities which is then likely to push up prices. In our case, on top of that general trend, we are likely to have the long delayed hook-up and first oil at around the same time.
Why the delay? Well despite global warming, the Gulf Stream is continuing to pump warm water from the Gulf of Mexico into the North Atlantic, passing just South of the Greenland icefields. As a result cold Arctic air mixes with the warm moist air above the Gulf Stream and generates powerful winds which in turn produce big seas. The rough water surface then gives the winds a better grip and the increasing energy transfer generates swell.
Winter obviously means that the cold air from Greenland is even colder whereas the water in the Gulf Stream left the tropics in the summer, so if anything, the GS is at its highest temperature. Hence winters are rough in the North Atlantic.
So it will probably be another three months before there is any realistic opportunity to try a hook-up; which takes us beyond Brexit. So on that basis, I would suggest that the SP will rise as people seek a safe haven for their cash during Brexit and then will rise again once the oil starts to
Strong upward trend, long, medium and short term, according to STB. Let’s hope that they have got this right, it would be nice to see this start to reflect it’s true value.
All the best.
Just hit 50.28p! - 17/1/2019
The share price went above 50p several times today but on each occasion it as sold into until it closed at a bid offer spread of 49.72p - 49.86p. Given the steady increase over the last few days I’m more than pleased to see our share price nudging 50p. I’m sure there will have been investors having a target sell price of 50p that will have kept the share price slightly under 50p today.
The next few days are going to be interesting. Assuming the Aoka Mizu reaches Lancaster as expected tonight and the hook up to the turret is completed either tomorrow or over the weekend we should have an RNS confirming this memorable event. This confirmation should see some steady buying with the share price closing a few pence over 50p.
I wonder how long it will take before we get the RNS confirming first oil has been produced from Lancaster. No doubt there will be lots of checks and double checks to be made before Hurricane can bring Lancaster on stream.
It’s been a long wait for first oil since I invested in Hurricane in June 2014.
However, what Hurricane has achieved by being on the cusp of first oil very soon is truly remarkable. It is a testament to the supreme expertise of Dr Trice and his team and also the contractors employed by Hurricane. It normally takes about 10 years for an oil major or a mid cap oil company to carry out what Hurricane has done in less that half that time.
Well done Hurricane!
Looking forward to the coming year with confidence and optimism.
I’ll second that!
Wouldn’t want to be out of this share over the weekend!
Good Evening Everyone,
The perfect storm is starting to brew up on Hurricane’s prospects over the week end.
The price of Brent Crude is up 2.42% at $62.66 a barrel.
Given the current weather window over the North East Atlantic and Hurricane’s Lancaster Oil Field, West of Shetland. It looks as if the Aoka Mizu will be hooked up to the two production wells with oil production about to start once the systems have been checked and double checked.
Monday could be very interesting.
I have to say, gains on this sp over the years have been hard won. However, drops have been very easily achieved, with little or no reason required. Yet another liberty today.
Is this ever going to change?
All the best.
I had decided not to buy any more, but the drop today based on a fairly trivial problem persuaded me to put another 10,000 shares in the pot courtesy of my Faroe profits. That’s definitely my lot.
Hi H t L,
Today’s share price movement is typical of the AIM casino. The fall has been greatly overdone. All that’s happened is that the hook up has been delayed until another weather window opportunity arises.
All that’s happened is that first oil has been put back by a few days or a few weeks.
This is when the wheelers and dealers take the chance of making a few quid at the expense of long term holders.
Yes, they never miss an opportunity. Very frustrating.
All the best.
Frustrating but not suprising - their job is to make money and they’re certainly doing that! Not long before volatility settles.
No that makes no sense. As a LTH myself, I don’t care what happens to the SP between my original purchase price and the eventual cash out price (assuming there is one; if not, my grandchildren will be very happy to take the dividend stream once it starts).
In the meantime, every SP dip is another opportunity to