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....

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.

Intra-Day breakout, if it can close above 40p looks promising.

Posted from across the road two days ago :-

24th April
Hurricane recruits industry veteran as it eyes first oil West of Shetland
MARK WILLIAMSON

SHETLAND-focused exploration pioneer Hurricane Energy has appointed a new chairman as it beefs up corporate governance arrangements ahead of the expected start of production from a giant field.
Surrey-based Hurricane said natural resources industry heavyweight Steven McTiernan will take up the post on 1 May.

The company has been searching for a permanent chairman since Robert Arnott resigned in November following a boardroom disagreement.

Hurricane said then Mr Arnott decided to resign after it became apparent there wasn’t an alignment of views between him and the rest of the board on certain aspects of its processes.

It formed a board-level listings and governance committee to evaluate its structures after he left.

Started by geologist Robert Trice in his garden shed in 2005, Hurricane has come under the spotlight in recent years after drilling underlined the potential of the Lancaster find it made West of Shetland in 2009. The company reckons this is one of the biggest undeveloped finds in the North Sea.

It raised around £400m last year from investors to fund work on bringing the field into production.

Hurricane expects to start pumping oil in the first half of next year. The Aim-listed company is also considering moving on to the main stock market.

The success is resulting in big changes at a company which spent years targeting an under-explored layer of granite off Shetland in relative obscurity.

The company’s progress will be followed closely amid excitement about the potential of the West of Shetland area.

Hurricane has seen its market capitalisation rise from £270m when it floated on Aim in 2014 to around £770m.

The company has had to build the capacity to manage a bumper development with corporate governance arrangements to match.

Mr Trice said the appointment of Mr McTiernan came at an extremely important time as Hurricane progressed towards first oil on Lancaster.

He said: “As the Company continues to grow and considers the best way to create further value for its stakeholders, Steven’s experience will prove invaluable. His background in both the oil industry and finance, particularly his significant mergers and acquisition experience is well suited to guiding the Company in its next steps.”

Mr McTiernan spent 11 years on the board of Tullow, which brought bumper finds into production off Ghana, after working for majors such as BP and has held senior energy investment banking roles at Chase Manhattan and NatWest.

He said: “I am most enthusiastic to be joining Hurricane, one of the UK exploration and production sector’s most exciting junior companies, at an early stage in the development and appraisal of its unique and play-opening assets.”

David Jenkins will return to his role as senior independent director after acting as interim chairman since November.

Mr McTiernan said he was reassured to see the steps already taken by Mr Jenkins and the board to put in place corporate governance standards appropriate for a more mature company and looked forward to steering further steps in this process.

Hurricane Energy shares closed up 0.36p at 39.46p.

The Herald.

Sp doing rather well.....the company is lucky with the stronger crude prices....that has come at a perfect time for production next year......

Next year should be fun.