Appointment of Joint Corporate Broker

RNS Number : 8815C

Hurricane Energy PLC

01 July 2016

 

Embargoed: 0700hrs 1 July 2016

Hurricane Energy plc

(the "Company")

Appointment of Joint Corporate Broker

Hurricane Energy plc, the UK-based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, is pleased to announce that it has appointed Macquarie Capital (Europe) Limited as joint corporate broker to the Company with immediate effect.

Contacts:

Hurricane Energy plc	Dr Robert Trice (Chief Executive Officer)	[phone]
Cenkos Securities plc	Nominated Adviser and Joint Corporate Broker Derrick Lee/Nick Tulloch/Beth McKiernan	[phone]
Macquarie Capital (Europe) Limited	Joint Corporate Broker Ken Fleming/Fergus Marcroft/Charles Lesser	[phone]
Vigo Communications	Public Relations Patrick d'Ancona/Ben Simons	[phone] [e-mail]

About Hurricane

Hurricane is an oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs. The Company's focus is to discover, appraise and develop oil reserves in basement rock. Hurricane has already successfully discovered substantial volumes of oil on the UKCS. The Company has 444-470 mmboe of 2C Contingent Resources and 432-442 mmboe of P50 Prospective Resources on acreage it controls 100%.

In 2014, Hurricane drilled and tested an appraisal well on its Lancaster oil field West of Shetland. The highly successful operations demonstrated that the Company could produce commercial quantities of oil from the Lancaster field. The Company will undertake a further well programme on Lancaster, incorporating a Pilot well and a Horizontal Sidetrack well as part of a continuous drilling programme in the summer of 2016. The Horizontal Sidetrack well is designed to refine the Lancaster Contingent Resource range (currently 62 - 456 mmboe), will provide a second future production well and will provide new information to help optimally plan the Lancaster field development. The Pilot well objectives are to confirm the depth of Oil Water Contact, evaluate the properties of a potential aquifer to establish how supportive it is of production, and evaluate the overlying Victory sandstone resource range.

 

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