Do you have a link to where HUR said this?
Nope, it was a PM to me on Twitter
Hope you’ve all seen the latest RNS - Crystal Amber back in, vote of confidence in my book though, of course, they’ll sell into rises. The point is they expect rises!
The other important point to note today - ‘there are no recorded shorts on Hurricane’ - according to the LSE this afternoon - which means all those naughty shorters have been deramping to buy back in at lower prices.
Whatever, I take this as confirmation things are headed in a positive direction.
The RNS is just a book-keeping thing with CA moving back above the 5% notification point with the change in the SP (from a previous 4.81%).
That’s my take on it anyway.
By the 4 Dec CA sold 13.8m shares as the SP fell after the WW well result.
By the 11 Dec CA purchased 4.2m shares as the SP continued to drop.
These are the facts.
CA could still be buying or selling we do not know. What we do know is that CA have sold 9.6m shares as the price dropped. It is total rubbish to suggest this is in some way a “vote of confidence”.
Why are CA selling into a drop and not as they have done year after year and sold into a rise?
Selling to invest in DeLaRue, whilst still buying Hur on dips?
OK cards on the table, my average is about 40p. Today`s RNS just leads me to suspect that either Spirit will shortly drop out of the JV or their interest has been paused by the owners pending sale. If no OGA approval for LC completion and tie back by end Q1 2020, LC will be P&Ad. What a waste of money!!!
So what have we to look forward to in 2020? One maximum vertical well (MVW) on Lincoln that we know will be plugged and abandoned, and like WD may be disappointing. We might get a completion of LC and the tie back, WOSP and de-bottlenecking, but I suspect not. We may have another well at Lancaster for a future tie back to the FPSO. So 2020 will bring at best, one well completion, one P&A regulatory well, and perhaps one future producer at Lancaster. Plus no longer any possibility of a reserves upgrade to 100 million barrels +. HUR are going to have to rewrite their timeline.
I cannot see anything other than a share price between 30 and 40p in 2020. Likely I would sell if we got to 45p.
I myself agree, I think that we would be very lucky to achieve anything above 40p in the mid term. I do however think that if we manage to get to the 40,000 bopd mark we could see a higher price than that - what price? Who knows.
Any other opinions from other members would be welcomed,
Have had much the same thoughts today. At the end of the day there are much easier shares to invest in and you could take the profit and be earning dividends / growth elsewhere. I took the decision to reduce my portfolio to cut my cloth back in the summer so I’m quite happy to let this ride where it will for long term based on the possibility that Lancaster alone will increase production, add on Lincoln and hey, no mention of Halifax yet, then I’m happy to leave this alone to grow pending further updates next year. I do trust the BoD, I do believe they’re making the best commercial and operational decisions at this point and that alone is reassuring. Each to their own on this one, could be bought out, could go up, who knows?
Just taking Lancaster, it looks like it’s a very large reservoir which will gross over $600m USD a year withiin 12-18 months. Even if operating costs are half that, and they’re obviously much less, that would put the business on a prospective PE of 2. Ridiculously cheap @ 33p.
What am I missing?
What am I missing ?
Taddish ,maybe grab a cup of tea and have a look at this,
Re. TommyRuff’s advice to read ‘The Lemon Fool’
Rather read the outcry on LSE from those who work in the industry in response to DSPPs speculative and inaccurate posts on Lemon Fool re. water cut. There is NO issue. Don’t waste time reading idle speculation just take time out to read the technical factual data and RNS updates on Hurricane’s website - transparently and openly posted for anyone to read.
Hmmmm … thanks TommyRuff and Alibi1 for your pointers. dspp seems to be still holding dispite his concerns. However it’s risky to trust anyone on these BB’s, so thanks guys for expanding my research! I’ll keep holding and watching.
Please please please do not reply to him.
Don’t feed the trolls
Michael Taylor’s comments in last Friday’s Investors Chronicle on online bulletin boards couldn’t be more true.
Do not worry Albi is not equipped to respond. A “hold” from Albi as the SP continues to drift.
Nice to see Wesexmario is still about, watch your backs and remember there is one rule for you and another for him.
Spill the beans!
What did he say I am all ears?
Was it that they harbour clueless long term investors, who huddle together in the comfort of confirmation bias trying to prevent alternative views being heard, while the arse falls out of their investments, calling anyone who fails to join the group think a “troll”?
Over on LSE you state:
“Bought a few more to give me a nice round number of shares.”
The SP down 7.5% as I write, are you calling the bottom, or just ramping it up to try and save your position at others expense?
Ricfle, that post is not from Albi, it’s mine. No connection despite the similarity in name. My name on here is different from my LSE name because I had to re-register here when the site changed to the new format.