Hi, Carliol......I like your thinking! Its feasible, and a far less risky route to go, to share the development amongst the majors. And the more I think about it, the more likely it seems. Its that kind of thinking that brings the excitement back! Thank you.
I've been having another read through the New Corporate Presentation for Q1 2018 that was first posted by H t L last week. The more I read it the more convinced I am that we are all invested in something special.
On page 5 it lists the Reserves and Resources of oil companies operating on the UKCS.
This list reads like a who's who of the oil industry. BP, Shell, Chevron, Statoil, Total etc etc. Guess which oil company has the largest R & R on the UKCS? Of course it's Hurricane!! However, just look at the margin between Hurricane and it's nearest rival. Hurricane has 2.6 billion boo marked as R & R, whereas BP come second on the list with slightly over 800 million boo. Which means that we have more than a colossal three times as much oil the nearest oil company.
Looking further into the Presentation on page 8 it mentions the BP Clair Ridge Development is expecting first oil in 2018 and is in partnership with Shell and Chevron in this development.
Given the info in the above paragraphs it looks to me as if it's only a matter of time before a bid comes in for Hurricane from the above consortium. Although I've always thought a bid would come in from BP alone, given the sheer size of our assets and the amount of cash needed for a Full Field Development, it looks to me as if a bid will be forthcoming as a joint venture from BP, Shell and Chevron.
I can't see three heavyweight oil companies such as BP, Shell and Chevron sitting idly by. I'm sure they'll want a piece of the action. Also, given Hurricane's assets I would expect the O & GA to prefer the above majors to bring to bring all of Hurricane's assets into production.
One of these days the market is going to wake up and realise just how much oil is safely tucked away in the naturally fractured basement reservoirs West of Shetland.
"Due to the rap over the knuckles (from my stroke) that I had 10 weeks ago, life has a different perspective now, and events like that remind us I think, that really, when all is said and done, our health and loved ones are far more precious than any amount of oil or share price."
Yes, unfortunately it takes that kind of thing in life to remind you that there are far more important things than just money. Three and a half years ago, I went in to hospital for a "minor operation", and woke up the following day in intensive care with tubes and monitors sticking out all over me. After a ten day stay, I was allowed home, but that period gave me a long time to think. Two years ago, I fell downstairs at 8.00am(not drunk I promise, lol) and collapsed a lung along with breaking two ribs. I wont go into the pain I suffered in the hospital for them to rectify the problem. So that time I was lucky yet again. Both these events have had a fairly profound effect on the way I now view life.
So, you are absolutely correct in what you say, however I just wish there were easier ways in life to learn the lessons.
I wish you a quick and full recovery, an of course, huge success with our HUR investment.
Hi, HTL. I'm glad you were able to re-do the maths, and now you've got another year to see this come good. I really hope it all works out for you, because if it does, it will mean it has for the rest of us too! The HUR story really has tested us, but in reality, it has mostly been caused by other factors, as you have said, like the collapse of the oil price, and the large fundraise last year, that was a shock to most at the price it was done at. Like you have previously intimated.........maybe the last minute PFC circumstances were involved.
But, technically, HUR has most definitely not let us down. And that's what we have to hope continues for us to have confidence for your plan (and ours) to play out. The sequence of events for the next 12 months are all in the technical department. Finance is sorted. And our health too of course, we need that to stay on the straight and narrow......and that of Dr. Robert Trice too! Not too many meat pies and cigars please, Dr T, or get too near any flares!
Due to the rap over the knuckles (from my stroke) that I had 10 weeks ago, life has a different perspective now, and events like that remind us I think, that really, when all is said and done, our health and loved ones are far more precious than any amount of oil or share price. Although, if HUR reaches 100p a share, my health will improve somewhat, lol !!
Good luck, HTL, let's hope that by the time we've had one more Spring, Summer, Autumn, and winter......we'll be well rewarded on the financial front.
"My original investment here was at 42p per share. Having topped up four times since, I am currently sitting on a 32p average, which as we stand at this precise moment, gives me a very small profit. My original intention was a maximum period of five years, that target is reached within the next month. To date therefore, this has not worked out as planned or hoped for,(story of my life)."
Apologies to all, I was obviously having a "senior moment" when I wrote the above. My original investment was march 2014, which makes my time invested here at four years come March,(it just feels like five, lol), so still got a year to go. Lets hope then that the target I set myself happens within the next twelve months, which if all goes to plan is very doable, imo.
Carl Ill:`Lets hope next week is a week to remember for all the right reasons.
I am terribly sorry Carlisle, but my iPad spell checker cannot believe that you are really called Car isle.
As regards next week, you can be sure that if the SP goes up significantly, there will be top slicing, so the ideal week would be one which more nearly reflects progress towards the EPS and on a week by week basis with say 42 weeks to go to FOIL, 1.5p per week would give us 63p more plus our current 33p = roughly a quid, which is entirely possible by the end of the year.
So 33p plus 1.5p = 34.5p. which will hopefully not be enough to tempt the
You've raised some interesting questions that are very relevant to my investment in Hurricane. There are three questions every investor has to ask him/her self. When to buy? When to sell? And when to hold?
These questions are quided by two emotive qualities that every investor has. They are fear and greed.
Many inexperienced private investors buy when the price is high and sell when the price is low. Which means that they are trying to jump on board through greed and when the price drops they panic and sell through the fear of losing even more money. Whereas experienced investors invest the other way.
You could say i was lucky taking a sizable profit when the share price was 60p. But a profit is a profit and as I said before - no-one ever went bust making a profit. The rise to over 60p was fairly fast. After being invested in AIM for longer than I care to remember, I've normally found that a sharp rise is followed by a fall. There are many times when I've "got it wrong" but I'm still here and making some money. But if I'd made better decisions i might have made more cash. I think it's impossible to "get it right even most the time."
Regarding my investment in Hurricane. With a little luck and some more top slicing I should shortly have a free carry. However, because I've seen so many shares go pear shaped I'll continue to take some profits as the price of the share increases. I'm always fearful that something drastic might happen and the share price collapses. Although it's a contradiction of terms, I'm confident Hurricane will go from strength to strength. In other words, I'm cautious and fully aware of the risks involved.
Another aspect of investing in AIM, is to only invest money you can afford to lose. I'm certain you're aware of this but I've only put this warning in my reply because there are probably inexperienced investors reading this who are not as long in the tooth as we are.
I could waffle on like this from now til the cows come home so I'll sign off by saying.
Let's hope next week is a week to remember for all the right reasons.
Firstly, many thanks to Mike for your original question to carliol, which started, imo, a very interesting and pertinent discussion that I am surprised that we long-termers have never broached before. Everything that you have all asked, and answered, I have asked of myself over and over during my investment here. May I say that I found all of this discussion to be very direct, open and not contrived in any way. This is not supposed to be in any way a suggested criticism of anyone. I think we all at times, including myself, post things that we feel we should, with not wanting to upset our fellow shareholders, or shooting ourselves in the foot, but do not necessarily feel entirely at the time of posting.
Personally, I invested here with the intention,(as I have mentioned before,) of trying to undo some of the damage of being made redundant at an inopportune age and personal situation, which threw most of my retirement plans up in the air. and left the "happytolearn" family not exactly penniless, but with financial concerns for the future.
My original investment here was at 42p per share. Having topped up four times since, I am currently sitting on a 32p average, which as we stand at this precise moment, gives me a very small profit. My original intention was a maximum period of five years, that target is reached within the next month. To date therefore, this has not worked out as planned or hoped for,(story of my life). However, I maintain a very strong belief in Dr Trice and Hurricane as a whole and what I hope they are going to achieve. What I did not expect when I made the investment, was a collapse in the oil price or the digitisation of the stock market. The first one was a severe blow to investment in O&G shares, which is now gradually recovering but has extended the period of a decent return by some time. The second imo, has turned the markets into a giant Ponzi scheme, where the only people that seem to be making any profit, are the traders, particularly the large ones who seem to have a enviable knack of knowing precisely when to buy and when to sell,(ahem!). I would be very interested to know the results of a survey of how many are in profit among long-term retail investors over the past three years, particularly with AIM shares.
Any way, like "aquarian" I have too much invested here, both in time spent and money I cannot afford to lose, to walk away. So as a with others I spend too much time sp watching getting greyer by the day and more wound up. Like "carliol", my wife tells me to get a life. Were it not for my belief in the Dr Trice and the HUR story, and my enjoyment of talking to my mates on the board, I would probably take her advice. There again it would be like accepting that she is right and I am wrong,(not having that, lol).
Lets hope for all our sakes that everything works out in all our favour. We have all been this patient so far, I am sure we will all get there with a bit of support from each other.
Carliol: `My current investment strategy, as it has been for many years, is to take some profit when it appears until I get a free ride. I do this by top slicing. For example, I took some profit when the share price jumped up to over 60p.'
That sounds good if you can be sure that the SP will fall after 60p, but at the time, it may well have continued upwards. In retrospect, you made a very good decision, but hindsight is always 20:20. We probably all expect that the SP will reach 60p again at some point (quite possibly even prior to the EPS starting to deliver), but would you `top slice' again when it does, or hang on for better things?
Speaking personally, although I haunt this board, it is only for the chat; I have no intention of selling at any point. I will be perfectly happy to wait until we are either bought out or until the growing company starts to issue dividends, and even then, why sell. We will have the UK's biggest and best oilfield, the SP will be many times what I paid and the dividend stream will be supporting my great grandchildren through
One of the ways I decide if Im happy to bear the risk, is to ask myself is there another share with equal potential and prospects, but with less risk to make me more comfortable. But I always come up with the same answer......no, there isnt.
I find these days that the whole market is so manipulated by high tech trading and shorting, that whichever share I look at, I can see that no matter how safe, or how big its market cap, its made just as risky as HUR, but for different reasons.
Hence my sticking with HUR, but at the same time keeping on red alert in case theres something I havent covered in my risk assessment.
Hope you enjoy (ed) your walk, and your tasty rhubarb when its grown up a bit.
Hi Aquarian, yes fear is a big driver in the stock market; fear of losing money and fear of not being in when the SP rises.
It might help to list the things that might go wrong and see how likely those things might be. The mechanical things can usually be corrected. Even the sinking of the FPSO can be got round to site an extreme example but what can't be got round is the failure of the field to maintain oil flow. The rest would be costly in time or/and money depending on what went wrong but there would be no hiding from the failure.
I've read much about FB and listened to RT over the last few years and I've not heard one word from FB detractors that have adequately backed their positions. RT has challenged them a few times and nobody has been able to point a finger to where FB has failed given similar geology. The main argument I've heard is that FB is unlikely in the NS because it hasn't been done before, mainly because the majors didn't think it could be done. If RT is right there will be a lot of damaged reputations out there. It could be a major reason why nobody has come forward to farm in or takeover. BP etc. are still being advised by these naysayers.
We are relying on RT to be right but there have been some serious players putting serious money behind our hero which gives me comfort. Anyhow, we'll be out of our misery within 18 months IMHO. I don't know how long the BPs of this world want the oil to flow before they buy the concept but I would have thought 6 months would be adequate. So 18 months give or take and we'll lose the lot or be looking at multiples of the current SP. Many of us might take the opportunity to top slice along the way because the SP won't do from 33p to £2-3 or whatever overnight.
You may feel over stretched but do you really want to reduce your holding or are you happy, well maybe not happy, to bear the risk? I'm not suggesting that you should hold on but I think its a question we should all be asking.
Its a lovely day here in Kent and I'm off to walk in the countryside and relish the beginning of Spring.
i appreciate your comments and I'm the first to admit I spend far too much time watching the share price going up, down and sideways. The reason for this is that I hate losing hard earned money and I'm looking to top slice to get into profit and have a free ride.
I've tried day trading but I find I'm better at losing money than making money so I find the best way to make money is to be patient and take profit top slicing when the opportunity arises.
I remember the old saying re investing " no-one ever went bust making a profit."
And the famous Warren Buffet quote"The Stock Market is a device for transferring money from the impatient to the patient."
There's also another quote that applies to investing in companies such as Hurricane and life in general, "Life is inherently risky. There is only one big risk you should avoid at all costs, and that is the risk of doing nothing."
Hi, Mikemine. I'm just nudging in to your post to Carliol, as you raise an interesting point that applies to virtually every long term target investor.
I have been forced somewhat into being a long term holder here, and not for the first time, as I have invested more than I am comfortable with, and at a much higher price than it is now. Of course, now in hindsight, I feel foolhardy and reckless. I always would have held a large holding here because of the enormous potential. But it's not a depressed state of mind that keeps me looking at the shareprice progress almost all day every day. I think with me, it's brought about by fear and dread of losing more money!
Although I have a logical confidence in Dr Trice and all that he and his team have achieved, as Carliol has reminded us, there are yet many things that could not go to plan. And it is that fear, plus holding too many shares and the discomfort that that creates, that keeps my eyes pinned to the screen each day.
By this time next year, we should have a very different picture. And I can't wait for the EPS to be fully underway, 20,000 bod, and a greater feeling of security in my investment here. I just hope those twelve months pass very quickly!
If all really does go to plan, buoys and FPSO in position, no hiccups or hurricanes, I really do believe the shareprice will be as Carliol says......many multiples of here.
And only then, will I probably halve my position, just so I can have a life not pinned to a screen!
I agree with what you say but I've been watching your posts and think that talking about your end game here might help you. You have longish term investment plan here but seem to let the short term fluctuations affect you more than they should if you don't mind me saying.
Its not nice to see the SP being driven up and down but these fluctuations will be wrung out of the SP when the TO or FO happens as it surely will if the EPS is as successful as we believe it will be. What I'm trying to say is that I think you are too close to the day to day movement when you clearly have a more long term agenda here. Its a lonely life as an investor, full of doubt, and we can get too involved. The situation with HUR has been made clear over the last few months, its the EPS that will be the game changer. There will be derisking stages up to it but thats the holy grail as far as I'm concerned. After that the value, whatever that turns out to be, will be undeniable.
I'm going on about this because I detect a certain mild depression in your posts and I thought I might help you focus on your objective and get away from the day to day stuff. Your end game is virtually the same as mine so we are in the same boat and I don't think we are alone by any means. I'm trying to ignore the short term although I tune in every day. Traders have the field at the moment and there is nothing we can do about it so I'm sitting back waiting for events relating to the EPS knowing that we have to get through the best part of a year. Difficult to do but I'd go mad otherwise I reckon.
It's very rare for an oil company such as Hurricane to fulfill it's potential and go from an explorer only to a Major.
It's clear that Hurricane's assets are world class. The latest CPR was astounding. The production wells on Lancaster each have the potential to produce 20,000 bod. See RNS's that announced the results of the drills. Dr Trice has stated the two production wells on Lancaster will start producing at 10'000 bod.
Even though Hurricane couldn't get a partner to develop Lancaster, the funds were easily raised.
It's for the above reasons, inter alia, that I reckon Hurricane will be taken over, lock stock and barrel, by a Major, with my favourite being BP.
Even though BP are on record as stating that it will wait until Lancaster is proven by the EPS, a bid could come at any time.
As for the price I would sell at? I don't think I'll have a choice because of a successful bid. But what I do know is that it will be many multiples of the current share price.
My current investment strategy, as it has been for many years, is to take some profit when it appears until I get a free ride. I do this by top slicing. For example, I took some profit when the share price jumped up to over 60p. With the benefit of hindsight, I wish I'd taken some more. I'm now still showing a slight loss but hopefully it's clear blue sky from now on.
The reason I have this investment strategy with Hurricane is that, given all the positive factors relating to the company, it is still a high risk investment. I wonder where the sp would go if the FPSO vessel broke loose en route from Dubai or there was a blow out on well on Lancaster?
Although this share has tremendous potential it's definitely not for widows and orphans.
"I followed the share price closely last week and every time the share price was showing a decent increase it was promptly sold into we were almost back to where we started. It looks as if day traders are dictating where the share price is heading by selling into increases and then buying back when the share price gets lower. One of these days they are going to get more than their fingers badly burnt because one of these days they will sell but the share price will simply keep on rising."
Yes, I totally agree with you. The interesting thing is that almost all of last week, the sp spent most of the day up, until the American markets opened. We were then heavily sold in to, causing the price to finish well down from day highs. Not sure what that is all about, all I do know however is that the majority of sell trades were small A trades which appeared as you say, as soon as the sp looked like it would recover.
You are correct. FOIL cannot come soon enough, with hopefully a move into the main market.
Lots of positive news items on Hurricane but I'm disappointed that the share price continues to languish around 32p - 33p.
I followed the share price closely last week and every time the share price was showing a decent increase it was promptly sold into we were almost back to where we started. It looks as if day traders are dictating where the share price is heading by selling into increases and then buying back when the share price gets lower. One of these days they are going to get more than their fingers badly burnt because one of these days they will sell but the share price will simply keep on rising.
If we look at the Hurricane news that could break at any time this share could defy the laws of gravity and keep rising. Given the dependence the UK has on imported hydrocarbons that Floss mentioned in his last post, it's imperative that the oilfields West of Shetland are brought into production as soon as possible.
Following the incredible CPR that was published recently I reckon that no-one knows for certain how much oil is safely tucked away in the naturally fractured basement reservoirs West of Shetland. These reports are usually cautious to the extreme and if this is the case then Hurricane's discoveries are not only of national importance but could have a global significance. The sooner the EPS on Lancaster is up and running the better.
Let's hope next week heralds the start of a sustained rise in Hurricane's share price.
`Dont write off the North Sea it is our last line of defence :
A crack in the Forties pipeline that knocked out almost half of North Sea oil production has shown how fragile Britains energy security is. Without the crude and natural gas still pumped off the Scottish coast, the country would be almost entirely dependent on imports and a hostage to Russias new Opec grand alliance.
Funding critical oil infrastructure to replace vintage pipelines and encouraging investment offshore may not carry the same political kudos these days as backing renewable energy or low-carbon transport, but they have arguably never been more vital for the
Thanks Carlisle, that is just the sort of debate I hoped to start. Unfortunately we are all dependant on what we read and that is often written by people with an axe to grind, so it is only when we knock ideas about that we can see which still stand afterwards.
You mention IS, but although the thought may have crossed their minds, IS may have friends in SA that they would not like to offend. However, like other terrorist groups they may end up with the blame whether they like it or not, they are so obviously `bad people and newspapers do like to pin the evil on villains.
The guy with most to gain from the resulting rise in the POO is our old friend Vlad; he has a track record of doing the unthinkable in pursuit of his own interests and adding a few sailors to his tally of criminality is not going to affect St Peters decision. Vlad has the means to steer an explosive filled speedboat with dummy IS figures and flags at a tanker using a submarine over the horizon and an intermediate drone to give a view. Tankers are enormous lumbering targets.
The effect on Russias wealth could be far greater than annexing neighbouring regions and he has `plausible deniability even if he is eventually fingered as the
Lots of interesting scenarios regarding where the price of oil is heading. Over the last few years we've seen oil hit unexpected highs and unbelievable lows.
Some of the news items appear to be written to an agenda and appear to be based on opinion rather than fact. One minute we hear the world is awash with oil and the next minute we learn that peak oil is just around the corner.
Logic dictates that the lack of oil discoveries in recent years will mean less new oil coming on stream and production gradually reducing. It looks as if we could be seeing a tipping point where demand is starting to exceed production. We've seen the poo hit c$70.00 a barrel, only to retreat to c$61.00 and now it looks as if it's heading towards c$70.00 once again.
Once again it looks as if US and Canadian shale and tar sands oil is profitable but it will only take the Saudis to increase production and once again lots of shale and tar sands producers will go bust. I'm surprised cash has been found to fund the resurgence of US & Can shale and tar sands oil. I would have thought " once bitten, twice shy."
It looks as if the Saudis need a high oil price to support the partial floatation of Aramco.
Given all the trouble in many of the oil production regions of the world, I'm surprised there hasn't been a major interruption in oil supply. Tankers passing through the Gulf of Hormuz carry 35% of ship borne oil. Venezuela is in meltdown. There's continuous trouble in Iraq, Libya, Iran and Yemen. It would only take IS to attack oil installations in S A and the poo could go vertical.
Given all the potential oil production problems thoughout the world, Hurricane's assets appear to be in a haven of peaceful tranquility on the UKCS. I wonder what the price of oil will be when production starts on Lancaster? Ten different expert analysts will give you ten different answers. Or putting it mildly they haven't got a clue. Perhaps they are using an out of date abacus.
Dr Trice is confident Lancaster will initially produce c19,000 bod and it will be profitable.His opinion is good enough for me.
Of course his views could be influenced by (or even entirely written in support of a subtext which you eventually get to in the last line of his article):
`The extent to which global supply behaviour changes is a key source of uncertainty and depends on three factors:
1. The cost and feasibility of low-cost producers increasing supply materially over the Outlook.
2. The extent to which prices respond to increased supplies of low-cost oil and the implications this has on producers economies.
3. The ability of higher-cost producers to compete by varying their tax and royalty regimes.'
Could it be that the whole article was written to support the idea of `varying their tax and royalty regimes.' (By `varying' he presumably does not mean increasing).
But in a world awash with oil, the price of oil will fall and the Cost Of Production (COP) will then determine which oil is produced and which cannot be justified. An old CNN article lists the cost of producing in various places:
To deal with current and future needs India is upping it's refining capacity by 77%. Interestingly, much of the gas refining will be directed ultimately to charge all those EVs they plan. Will this be true worldwide I wonder.
HURRICANE Energy has said it is on track to start production from the giant Lancaster field West of Shetland next year with work on the production facilities progressing well.
Five months after Hurricane provided a boost for the hard-pressed North Sea oil and gas industry by approving plans for the $500m (£360m) Lancaster development, the company said it had passed a key project milestone.
Surrey-based Hurricane said tests of the mooring system that will be used by the floating production storage and offloading vessel on the field had been completed successfully a week ahead of schedule in Dubai.
The FPSO is expected to leave Dubai on schedule in the third quarter following the completion of renovation and upgrade work.
Chief executive Robert Trice said he was delighted with the results of the trial, which involved testing the connection between the FPSO and a buoy that will form part of the mooring system.
With other operations continuing as planned, we remain on schedule for target first oil in H1 2019, said Mr Trice.
Hurricanes progress will be followed closely in the North Sea. Its exploration success West of Shetland has fuelled hopes there could be a surge of drilling activity in what remains a relatively under-explored area.
Hurricane expects to pump 19,000 barrels per day from an early production system on Lancaster, which it thinks could pave the way to a much bigger development.
It reckons the Lancaster licence may contain more than 500 million barrels oil.
Separately, Aberdeen-based oil and gas well engineering specialist Plexus Holdings said it has made progress in the key Russian target.
The company has struck a £1.4m deal to sell two wellheads to a Russian partner, LLC Gusar, which has a licence to rent out its jack-up wellhead equipment for use in exploration in the country.
Following the recent sale of its jack-up wellhead exploration equipment and services business to FMC Technologies for up to £42.5m, Plexus retained the right to pursue business in Russia under the licence.
Chief executive Ben van Bilderbeek said the wider Russian region was a central area of focus for Plexus.
He noted: The sale of these two wellhead sets is a key step towards Gusar securing a landmark first rental order from a local Russian gas operator.
I couldn't agree with you more. The quicker we get off AIM and onto the main market the better. It's more like a casino on AIM.
When we get a new chairman appointed and a move onto the main market we should see a decent increase. Some managers of tracker funds will be buying into Hurricane because of their investment strategy. Perhaps there are some funds currently buying into Hur at "mates rates" prior to our listing on the main market.
I sometimes think the best strategy with Hurricane is to look forward to Foil with optimism and try to ignore the wild swings in the share price that by now we should have become accustomed to. This is what my wife says. Perhaps she's right but it won't stop me from monitoring the share price closely, minute by minute, hour by hour and day by day. Let's hope that when the oil starts to flow and BP start making a bid, it's all been a worthwhile and a very profitable investment.
"If the Hurricane share price is linked to the price of oil we should be in for a good day tomorrow."
I hope that the logic you mention is applied. We had more buys than sells today, a positive RNS and oil price was already up before the market closed. Anyone think we are being deliberately pulled down?
The sooner we get out of this "cowboy" market, the better, imo.
What really infuriates me is that this company has spent years developing a huge resource which will eventually benefit not just it's directors and shareholders, but also the UK as a whole. This is not some "Mickey Mouse" outfit that relies on public relations and a pack of lies to establish it's sp. As you have mentioned on a number of occasions, they always achieve much more than they promise, a very rare animal in this day and age.
Take a look again at the recent presentation done by Dr Trice. Not only do we have people who thoroughly understand what they are doing, but make sure that every detail is thought about, investigated and reported in a highly professional way.This company does not deserve the kind of treatment it has so far received from the AIM.
Hopefully it will not be too long before Hurricane Energy and it's hard working CEO and team, will get the acclaim it deserves.
Following today's RNS the old stock market adage of "buy on the rumour, sell on the news," couldn't be more meaningful.
Logic says we should have had a decent increase to follow this morning's RNS. But when did logic apply to the current market on AIM?
This afternoon and evening we've seen a good rise in the price of oil. Logic also says that with Hurricane being an oil company with zillions of boo safely tucked away in the naturally fractured basement reservoirs West of Shetland, that tomorrow we should see a decent rise in the share price.
According to LSE there were 520 trades comprising 8.70 million Hur shares of which 3.40 million were sells and 4.90 million were buys. I noticed there were several trades of over half a million buys.
Given some of the good press we've had today from the media and the upturn in the poo we should have a decent rise tomorrow. It's incredible to think that three weeks ago our sp was slightly over 41p and now we're languishing around 31p - 32p. This is apparently for no other reason that the fall in the poo.
I don't think any fledgling oil companies are in such a strong position as Hurricane.
We still own 100% of our assets.
Fully funded to Foil.
Ahead of schedule with the FPSO vessel.
A very positive CPR.
The largest oil discovery on the UKCS for over a decade.
And the share price falls!!! You couldn't make it up!!!
But tomorrow I'll be switched on at 8.00am.
My wife says " I should get a life!" Perhaps she's right!
`The International Energy Agency said the world is witnessing the second great wave of US shale growth, with production soaring by 1.3 million barrels per day (b/d) over the last year. Extra US supply threatens to match the entire growth in crude demand from China, India, and the rest of the world in 2018
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Participating in this forum cannot be a substitute for obtaining advice from an appropriate expert independent adviser who takes into account your circumstances and specific investment needs in selected investments that are appropriate for you.