Operational Update

RNS Number : 3335S

Hurricane Energy PLC

02 October 2017

 

2 October 2017

Hurricane Energy plc

("Hurricane" or the "Company")

Operational Update: arrival of FPSO 'Aoka Mizu' at Drydocks World Dubai Shipyard

Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, is pleased to announce that the FPSO 'Aoka Mizu' arrived at Drydocks World Dubai shipyard on 30 September 2017.

Drydocks World is also undertaking the fabrication of the buoy, where first steel has already been cut at its Dubai facility.

Contacts: 

Hurricane Energy plc	Dr Robert Trice (Chief Executive Officer)/ Alistair Stobie (Chief Financial Officer)	[phone]
Stifel Nicolaus Europe Limited	Nomad and Broker Callum Stewart/Nicholas Rhodes/Ashton Clanfield	[phone]
Vigo Communications	Public Relations Patrick d'Ancona/Ben Simons	[phone] [e-mail]

Important notice

Forward looking statements and dates referenced in this announcement, in relation to Hurricane's exploration and development assets, are estimates and subject to change. Oil and gas operations, particularly those relating to development stage assets are subject to varying inputs that may impact timing, including, inter alia, permitting; environmental regulation; changes to regulators and regulation; third party manufacturers and service providers and the weather. The Company's estimates of timing for forward looking operations are based on the best information it has to hand at the time, however these timings may change with little or no notice to the Company. The Company will update the market as and when it becomes aware of a material change to any of the operations or timings referenced in this announcement.

About Hurricane

Hurricane was established to discover, appraise and develop hydrocarbon resources associated with naturally fractured basement reservoirs.

Hurricane's acreage is concentrated on the Rona Ridge, West of Shetland.  The Lancaster licence, the Company's most appraised asset, has combined 2P Reserves and 2C Resources of 523 million barrels.  In addition, the Company has 205 million barrels of oil equivalent on its Whirlwind licence (under the Whirlwind oil case).

During the 2016-2017 drilling campaign the Company made two significant discoveries* at Halifax and Lincoln, indicating that the Greater Lancaster Area and the Greater Warwick Area have the potential to be two large accumulations.

*Discovery under SPE PRMS definitions

 

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