26th May 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectiv...
Three Directors at Hurricane Energy bought/maiden bought 1,483,776 shares at between 7.6p and 7.7p. The significance rating of the trade was 62/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directo...
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C: Target price of A$0.100 per share: Competent person report confirms the materiality of the Welchau pospect – The Welchau prospect has been estimated to hold between 365 bcfe and 1,128 bcfe of prospective resources by Gaffney, Cline & Associates (GCA) with a mid-case at 645 bcfe including 10.1 mmbbl of condensate. While this is below the 807 bcfe mid-case estimated by ADX, the fact that the lower end of the GCA ran...
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN) C; Target price of £0.45 per share: The RCE-5 well encounters one of the largest net pay to date in the RCE field – The RCE-5 well encountered 90 feet of net oil pay across the Carbonera C7 (36 feet) and the Lower Gacheta sands (54 feet). This is the third successful well in the 2023 campaign. RCE-5 encountered the largest net pay in the current programme. The well is expected to add production and reserves a...
In this audio note, Zeus’ Daniel Slater summarises the investment case for Hurricane Energy. Hurricane has announced a recommended offer for the company from Prax E&P, for a total consideration of up to 12.50p/share, comprised of several different elements. Listen to the audio note below, and read the full research here.
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU) C; Target price of A$0.10 per share: Drilling news flow. Production growth. Value. – 2023 is expected to be a busy and transformational year for ADX. The company plans to grow gross production at Anshof (4.2 mmbbl net 2P reserves) to almost 1,000 bbl/d with two new wells by YE23. At that level, ADX can generate US$13 mm operating cashflow per year (after tax). This represents ~65% of the company’s market cap. The An...
Recommended offer for the company, worth up to 12.50p/share. Hurricane has announced a recommended offer for the company from Prax E&P, for a total consideration of up to 12.50p/share, comprised of several different elements. There is 6.0p/share of cash upfront, of which 5.19p/share is a dividend from Hurricane’s existing cash and shortly upcoming cash flows (based on a planned April lifting), and 0.83p/share is paid by the buyer.
Edison Investment Research is terminating coverage on Hepion Pharmaceuticals (HEPA), Hurricane Energy (HUR), CASI Pharmaceuticals (CASI) and Monarch Mining Corporation (GBAR). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant.
Edison Investment Research is terminating coverage on Hepion Pharmaceuticals (HEPA), Hurricane Energy (HUR), CASI Pharmaceuticals (CASI) and Monarch Mining Corporation (GBAR). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant.
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Hurricane’s technical committee has concluded that there is a reasonable probability that the oil water contact (OWC) in the Lancaster field is shallower than the range of OWCs estimated in the 2017 competent person’s report (CPR) by RPS Energy. As a result, the company believes there is a risk that the estimated reserves for the Lancaster early production system (EPS) and the contingent resources across the West of Shetland portfolio will be materially downgraded. Given the range of outcome...
Hurricane has announced the resignation of Dr Robert Trice as CEO. Beverley Smith has been appointed as interim CEO and will oversee a thorough review of all available data, which will inform the future activity programme to increase production while maintaining capital discipline. Production from the Lancaster early production system (EPS) is relying on the deliverability of the 205/21a-6 well following Hurricane’s unexpected shut-in of 205/21a-7z in May 2020. Full-year guidance has been susp...
Edison Investment Research Limited Edison Investment Research Limited: Edison issues outlook on Hurricane Energy (HUR) 20-May-2020 / 09:37 GMT/BST Â London, UK, 20 May 2020 Edison issues outlook on Hurricane Energy (HUR) In April 2020, Hurricane Energy provided an update on Lancaster early production system (EPS) data gathered since first oil. The company announced that productivity from the two producing wells is over 10.0kbod per well. Aggregate water has been higher than initial expectations; however, this has been identified as being perched water and is expected to stabilis...
In April 2020, Hurricane Energy provided an update on Lancaster early production system (EPS) data gathered since first oil. The company announced that productivity from the two producing wells is over 10.0kbod per well. Aggregate water has been higher than initial expectations; however, this has been identified as being perched water and is expected to stabilise with time. Management expects that a longer period of data gathering will be required before the next stages of development. Given the...
Hurricane Energy recently reported its first year of production and revenues from the sale of oil produced from the Lancaster early production system (EPS). The company reported FY19 revenue of c $170m, in line with our previous estimates. In this note we update our valuation to reflect FY19 results and the current oil and gas industry macroeconomic situation. The coronavirus (COVID-19) and the Russia/Saudi Arabia price war have affected oil and gas global supply and demand and consequently oil ...
Hurricane Energy has announced an operational update with a programme focused on maximising the Aoka Mizu FPSO’s oil throughput capacity. In the Greater Warwick Area (GWA), partners concluded that it will not be possible to tie back the Lincoln Crestal Well to the FPSO in 2020. However, they are seeking regulatory consent to delay the abandonment of the Lincoln Crestal Well to obtain interference data during well testing in 2020 from one or more sub-vertical wells that are planned to be drille...
In December 2019, Hurricane Energy provided a trading and operational update on its activities, announcing a strong ongoing performance of the Lancaster early production system (EPS), with well tests supporting guidance of 20,000bopd for FY20 (before operational downtime). Hurricane was also granted a five-year extension to its P1368 licence, covering Lancaster and Lincoln, which resulted in changes to its near-term work programme. One or more sub-vertical wells will be drilled on both Lincoln (...
Hurricane has announced an update on the strong ongoing performance of the Lancaster early production system (EPS), with recent individual well tests supporting guidance of 20,000bod for FY20 (before operational downtime). It has also been granted a five-year extension to its P1368 licence, covering Lancaster and Lincoln, resulting in changes to its 2020 work programme. One or more sub-vertical wells will be drilled on both Lincoln (in 2020) and Lancaster (in 2021) to determine the maximum verti...
This morning Hurricane Energy announced the flow test results from its Warwick West well, which is the third and last well from the 2019 drilling campaign in the Greater Warwick Area (GWA). The well confirmed the discovery of 43° API light oil and tested at a stable flow rate of 1,300bod on natural flow with less than 0.5% of water being produced. Hurricane and Spirit Energy are evaluating the results of the 2019 drilling campaign and further technical analysis will determine both the potential...
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