Hurricane's shares are currently trading at 28.6p/sh, back at the level they were at in early 2018 when there was still significant execution risk on Lancaster. Since then, the company has successfully brought Lancaster online, with better than expected flow rates, met production guidance for 2019 and will have generated US$165mm in revenue in 2019, to end the year with US$150mm in unrestricted cash, on our estimates. It also successfully drilled and flowed a potential producer well on Lincoln. ....
18 Dec 2019
Weak share price performance despite operational delivery in 2019 creates a buying opportunity
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Weak share price performance despite operational delivery in 2019 creates a buying opportunity
- Published:
18 Dec 2019 -
Author:
Anish Kapadia | Jay Ashfield | Hamish Clegg -
Pages:
6
Hurricane's shares are currently trading at 28.6p/sh, back at the level they were at in early 2018 when there was still significant execution risk on Lancaster. Since then, the company has successfully brought Lancaster online, with better than expected flow rates, met production guidance for 2019 and will have generated US$165mm in revenue in 2019, to end the year with US$150mm in unrestricted cash, on our estimates. It also successfully drilled and flowed a potential producer well on Lincoln. ....