Well well well....this is quite a surprise.....more than 1 billion barrels apparently....if only brent crude could go up a bit as well....

bought back at under 60.25p

yesterday went as low of 76.4% fibonacci retracement, is bouncing from that point

61.75p +1p

Well, things are hotting up now after the 2 hours pause, 61p resistance gone, and now is as support

order book has improved even more and now - DEPTH almost double on the bid side 42 v 22

It seems the gravy train (1) is in its way
"Some are trying to get on board the gravy train (HUR)"

note 1 : something that provides money to many people without requiring much work or effort

62.75p +2p
PROACTIVE INVESTOR
Hurricane Energy’s discoveries are likely in the crosshairs of “very big” oil companies - analyst - 11:41 11 May 2017

Hurricane Energy Plc’s (LON:HUR) potentially giant discoveries may be in the crosshairs of “very big” oil companies, according to expert commentator Malcolm Graham Wood.

Having now confirmed a multi-billion barrel in the waters in the West of Shetland region the UK offshore oiler is understood to be seeking finance for the initial development of the Lancaster field – which could be producing crude as soon as 2019.

A farm-out to a larger oil company could be a possible means of funding the development of Hurricane’s increasingly substantial asset base, according to Malcolm Graham Wood, who sees the company’s share price going much higher from the current price of around 60p.

“A very big company would consider farming into this project, and therefore I would think almost certainly that it [the share price] would bounce off there [the current level],” he said in a segment for Tip TV.

“I’ve got 100p there [as a target price]. I’ve had that in for ages, and I see no reason to change it at the moment.”

Zak Mir, Tip TV host and resident technical analyst, meanwhile, agrees that the Hurricane share price ought to go higher with the chart informing his 80p target.

The respective price targets represent some 58% and 26% upside to Hurricane’s current price of 63p.

“Competent persons reports are meant to be disappointing”
Hurricane’s share price has been somewhat subdued following the release of a competent persons report (CPR) which set out contingent resources that will be addressable by the planned early production system (EPS) at Lancaster.

It is understood that Hurricane will need to secure around US$450mln of capital for the project, and the CPR was seen as a precursor to the fund raising exercise.

Malcolm Graham Wood noted that the hotly anticipated CPR was ‘a little disappointing’ for some investors, though he says that’s this would be typical.

“I can tell you that CPRs are always disappointing because they’re meant to be like that. They’re meant to be a conservative analysis of what the oil company has got in the ground.

“It was only for Lancaster, which is just part of the business, and it is extremely positive, it has got 2.3bn barrels and so many different things to develop.

“Yes, the market can tell itself that there might be a [fund] raise, and there will be some sort of a raise, because we’re going into the development phase for this company – so there’ll be a small amount of equity I expect.”

CPR sets Hurricane on a course to first production
The company on Monday outlined the details of a new competent persons report which estimated some 523mln barrels of contingent resources.

It detailed the oil reserves that will be addressable by the planned early production system (EPS), due to come into production in 2019. The proved and probable (2P) reserves for the initial six-year EPS are estimated at 37.3mln barrels, valued by RPS at US$525mln (net value).

The CPR focussed on just one part of a project - the Licence P.1368 Central area, a specific part of the Lancaster project that will host to the planned Lancaster EPS.

It is expected that the new CPR provides an important precursor to the project funding process.

Financing plans and final investment decision
Hurricane is targeting a final investment decision for the Lancaster EPS by the end of the first half of 2017, and Monday’s CPR is an important milestone in achieving that.

The company will need to finalise financing, the capital requirement is estimated at around US$450m, for the EPS and it will need to be ready to submit its plans to the UK regulator.

The EPS is anticipated to be a 17,000 barrel per day operation, tied into a floating production, storage and offloading (FPSO) facility (which has already been signed up via an arrangement with Bluewater Energy Services).

Given its scale and relatively achievable funding requirements, the EPS is deemed to be a logical, manageable and value-adding step.

In a recent chat, Hurricane boss Dr Robert Trice explained that two parallel financing work ‘streams’ are underway, Trice explains.

One process sees Hurricane going it alone. It is working on a fund raising process that will include equity, bonds and regular debt-based project financing.

This scenario will see Hurricane land the US$450mln it needs to deliver the EPS whilst retaining 100% of the project, though it will also result in some dilution for equity holders.

A farm-out deal could, however, be an alternative approach to securing the EPS funding.

A third option could also be possible, whereby Hurricane raises a smaller amount of funds and also brings in a partner.

Due for a bounce?
less than 38.2% Intraday retracement, but buyers are returning

Who cares.

Finncap target.

Cantor Fitzgerald Buy 61.88 - - Reiterates

finnCap Buy 61.88 130.00 130.00 Retains

New Hurricane Energy (LON:HUR) Rating From Finncap Indicates Stock As Potential Buy
By Ashley Brown / in Stocks / on Saturday, 13 May 2017 10:00 AM /

Following an update released by analysts at Finncap on Friday the broker has now set a ‘Buy’ rating on shares of Hurricane Energy (LON:HUR) with a price target of 130.

On Friday Finncap maintained its target for shares of Hurricane Energy as ‘Buy’ recommending a target price of 130 for investors; potentially meaning there is an increase of 109.44% from Hurricane Energy’s share price of 62.07.

Hurricane Energy has 730,566,000 shares currently held by shareholders which currently trade around the 62.07 mark which totals Hurricane Energy’s market capitalisation to 453.46M GBP.

12 Month Share Chart For Hurricane Energy - LON:HUR
In the duration of 12 months Hurricane Energy’s share price has increased by 335.58% to 62.07 from 14.25.
The business has a 50 day moving average of 57.86 and a 200 day moving average of 49.13 whilst the 52 week high shares of Hurricane Energy have reached is 67.9 and the 52 week low is 13.1.

Hurricane Energy plc is engaged in the exploration of oil and gas reserves principally on the United Kingdom Continental Shelf. The Company’s acreage is on the United Kingdom Continental Shelf, West of Shetland, on which the Company has approximately two basement reservoir discoveries, each containing approximately 200 million barrels of oil equivalent (MMboe).

Its licenses include P1368, P1485, P1835 and P2294. The Company has approximately 450 million barrels of 2C Contingent Resources on acreage. Its Lancaster discovery is located in blocks, including 205/21a, 205/22a and 205/26b.

The Whirlwind discovery is located across blocks, including 205/21a and 205/22a in the West of Shetland. The Lincoln Basement prospect is located in 205/26b block.
The Typhoon prospect is located in blocks, including 204/22a, 204/23c, 204/27a and 204/28a. The Strathmore Prospect is located in the 204/30a block, and contains oil in Triassic-aged sandstones.

A complete melt down today.

Just shows. You can analyse until you're blue in the face - as professionals and amateurs do - but without all the information, the answer could still be a raspberry.

this was 68p a few weeks ago.

This was 15p 6 month ago

And 60p when you bought your last lot.

and a white swan turn black as the oil spills coloured the plums and went down and down up to the neck.

-

How low will this go.

Any idea..?

Been buying some for the long term at between 32p-33p,have a wide stop in place as i am looking for the long haul potential.Purely a speculative trade of course,but its always good having a few like this in your portfolio.

Added some more HUR during the week,once again for the long haul,will probably add some more during today as well.

Mega bucks = Mentor

Starting to breakout.....not surprising...crude is up and they have a lot of it....first production 2019.....so sp in a rising trend now....

Been topping up a few extra HUR shares in the last few days,still looking good,using a narrower stoploss though just incase of a retracement,in profit territory so no complaints.