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Proactive Hydrocarbon Forum: Hurricane Energy, Independent Oil & Gas, Leni Gas & Oil and Green Dragon Gas

Our latest Hydrocarbons investment event is a must for all those investors interested in the sector – and the advice is to register as soon as possible.


Our latest Hydrocarbons investment event is a must for all those investors interested in the sector – and the advice is to register as soon as possible.

It promises to be a highly illuminating evening on Wednesday, February 19, at the Chesterfield Mayfair as we showcase Hurricane Energy (LON:HUR, Independent Oil & Gas (LON:IOG), Leni Gas & Oil (LON:LGO) and Green Dragon Gas (LON:GDG).

To avoid disappointment and secure your place, please register HERE..

Hurricane Energy believes it has discovered an oil play so big it will be transformational - not just for the company, but the UK oil industry as a whole.

It has taken almost eight years and around £160mln to get to a position where it is on the cusp of proving the huge commercial potential of fractured basement reservoirs, a new play for the UK.

The company has discovered over 200mln oil equivalent barrels of 2C contingent resources - that is recoverable oil - while the portfolio overall holds 450mln barrels of 2C.

To put that into context, on average, the discovery on the UK Continental Shelf is around 20-23mln barrels.

Meanwhile, the oil in-place volumes cited in the competent person’s report across the Lancaster, Whirlwind, Strathmore and Typhoon blocks run into billions of barrels.

Chief executive Robert Trice calls Hurricane ‘probably the best oil company you’ve never heard of’, although this started to change following the company’s float on February 4.

Keith Kirby, chief administrative officer and the team will be on hand to tell us what to expect when drilling starts later this year.

Independent Oil & Gas (LON:IOG) is focused on the UK North Sea, namely the Blythe gas field in the Southern North Sea and the Skipper licence south east of the Shetlands.

It floated on AIM in September 2013 and shortly after it acquired two licence blocks near the Blythe field.

The acquisition creates a clear pathway for the firm to deliver its strategy of developing production hubs, and any discoveries on this licence could be tied back to Blythe.

At Skipper, Independent and partner ATP Oil are agreed that an appraisal well should spud this summer, which should put some va-va-voom back into the development project.

The two companies also want to achieve first gas from the Blythe field as soon as practicable, with the aim to submit a field development plan in the third quarter of this year.

Explaining why the North Sea still remains one of the places for any aspiring oil junior to be will be Peter Young, IOG’s chief financial officer.

Meanwhile, Leni Gas & Oil’s (LON:LGO) production growth story in Trinidad continues to build momentum.

Through a programme of upgrades and workovers at the Goudron field, it has now lifted production to around 500 barrels a day.

In the AIM quoted group’s latest project update, it revealed ambitious plans to quadruple output. It will add 1,500 barrels of extra production per day through the drilling of 30 new wells over the next 18 to 24 months.

It could hit the 2,000 barrel a day mark by 2015, according to broker Old Park Lane Capital.

The drill programme got environmental sign-off this month, and Leni said work would begin immediately. This clearly puts in motion a very active and potentially valuable period.

Joining us to map out the company’s direction is Neil Ritson, Leni’s chief executive.

Finally, the news tap has been turned full on at Green Dragon Gas (LON:GDG) in recent months.

Since October, the China-focused unconventional gas group has had its licences confirmed, set up a US$35mln funding package and started talks with CNPC, Petrochina and CNOOC, three of China’s biggest oil names, over their unauthorised drilling on its acreage.

It has also appealed against a ruling that it must repay nearly US$43mln to ConocoPhillipsChina (COPC), while also reiterating its target of an 18 billion cubic feet gas run rate by the end of this year, which if achieved will also see corresponding growth in annual production as new wells are hooked up the local infrastructure.

The bottom line, though, is that China has a desperate need for both conventional and unconventional sources of energy and Green Dragon believes it is exactly in the right place to supply it.

Stephen Hill, vice president, will be here to update on the story and talk us through what should be a fascinating half hour.

Please join us at 5.45pm to allow for a prompt 6pm start. Each company has around 30 minutes to give a short presentation and for Q&A.

This will be followed by the 'Champagne Raffle' where six guests will win a bottle each.

The evening will end with a complimentary bar and canapes, giving you the opportunity to speak with the directors and other investors.

Quick facts: Hurricane Energy PLC

Price: 44.98 GBX

Market: LSE
Market Cap: £895.2 m

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