Update: Testing time for Lancaster
By the end of 2016, Hurricane should have far greater certainty on the size and potential value of its key asset, Lancaster. If post-drill resource estimates remain in line with the pre-drill forecast at P50 200mmbbls, Hurricane remains well placed to attract partner and debt funding assuming an Edison long-term 70$/bbl Brent oil price. A resource base that only justifies an early production system (EPS) development is still likely to be economically viable, but could prove harder to finance in the current market.Hurricane Energy is engaged in the exploration of oil and gas reserves principally on the U.K. continental Shelf. Co.'s acerage is focused on the Rona Ridge, West of Shetland.
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