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Hurricane Energy Plc

27 Jun 2014 | by: Patricia Miller

Chris Oil Feature Article

Following my recent investigation into whether fund managers are looking at purchasing more shares in Hurricane, i have concluded interest is growing after catching up on meetings yesterday morning and with the flow RNS out early!

So whats the excitement about? Well the company sits on 207m contingent 2C 100% Lancaster prospect light oil API 38%, already successfully drilled and flowed. Following outstanding testing results yesterday morning, news is due when rig operations have finished highlighting the potential of the company. With better than 9,800 bopd (CPR stated 8,000 bopd) which could have been more given the equipment. Dr Robert Trice CEO is still on the rig and is believed to be over the moon at confirming the 90%cos operation was a success.

I was at the AGM as most know and its clear to me from Trice CEO video presentation as Cenkos claim will create a new North Sea continental shelf. Added to the fact the Lincoln prospect contingent is six miles north which could see a giant development called “The Greater Lancaster Area Project” already 350m contingent with another combined 3 billion oil in place quoted by Trice.

IPO was 43p and thats where i expect Hurricane Energy to hover over the next couple of weeks before the next leg up, conservative holders may wish to take profit but i still expect Hurricane to continue to climb on its final operational news. I am a holder but at 46p no longer a buyer, however there is upside to come in the next two weeks on news.

Until the next time at the castle more ramblings can be seen @chrisoil

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