Hurricane Energy PLC Director's Shareholding (5458I)
November 27 2018 - 1:02AM
UK Regulatory
TIDMHUR
RNS Number : 5458I
Hurricane Energy PLC
27 November 2018
27 November 2018
Hurricane Energy plc
("Hurricane" or the "Company")
Director's Shareholding
Hurricane Energy plc, the UK based oil and gas company focused
on hydrocarbon resources in naturally fractured basement
reservoirs, was informed on 26 November 2018 that on the same date
Steven McTiernan, Chairman of the Company, acquired 375,000
ordinary shares of 0.1p each in the Company at a price of 40.61393
pence per share.
Following this transaction, Steven McTiernan holds 375,000
ordinary shares, which represents a total of 0.019% of the
Company's issued capital.
DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND
THEIR CLOSELY ASSOCIATED PERSONS
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Steven McTiernan
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2. Reason for the notification
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a) Position/status: Chairman
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b) Initial notification/Amendment: Initial Notification
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3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
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a) Name Hurricane Energy plc
--------------------------------------- -------------------------------
b) LEI: 2138007Z66OO4XWKM819
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4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
------------------------------------------------------------------------
a) Description of the financial Ordinary shares of 0.1p
instrument, type of instrument: each in Hurricane Energy
Identification code: Plc
ISIN: GB00B580MF54
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b) Nature of the transaction: Purchase of ordinary shares
of 0.1p each in Hurricane
Energy Plc
--------------------------------------- -------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
40.61393p 375,000
----------
--------------------------------------- -------------------------------
d) Aggregated information: 375,000
* Aggregated volume: 40.61393p
* Price:
-------------------------------------------- -------------------------------
e) Date of the transaction: 26 November 2018
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f) Place of the transaction: London Stock Exchange,
AIM Market
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Contacts:
Dr Robert Trice (Chief Executive
Hurricane Energy Officer) / Alistair Stobie
plc (Chief Financial Officer) +44 (0)1483 862 820
Nominated Adviser and Joint
Corporate Broker
Stifel Nicolaus Callum Stewart / Nicholas
Europe Limited Rhodes / Ashton Clanfield +44 (0)20 7710 7600
Morgan Stanley & Joint Corporate Broker
Co. International Andrew Foster / Tom Perry
plc / Alex Smart +44 (0)20 7425 8000
Vigo Communications Public Relations +44 (0)20 7390 0230
Patrick d'Ancona / Ben Simons Hurricane@vigocomms.com
About Hurricane
Hurricane was established to discover, appraise and develop
hydrocarbon resources associated with naturally fractured basement
reservoirs. The Company's acreage is concentrated on the Rona
Ridge, in the West of Shetland region of the UK Continental
Shelf.
The Lancaster field (100%) is Hurricane's most appraised asset,
with five wells drilled by the Company to date. It has 2P reserves
and 2C contingent resources of 523 million stock tank barrels of
oil. The Company is currently proceeding towards the first phase of
development of Lancaster, an Early Production System which will be
the UK's first basement field development. It involves a two well
tie-back to the Aoka Mizu FPSO and is expected to initially produce
17,000 barrels of oil per day. First oil is targeted for 1H
2019.
Hurricane's other assets include Lincoln (50%), Warwick (50%),
Halifax (100%), Whirlwind (100%), and Strathmore (100%). Together
with Lancaster, these assets have total combined 2P reserves and 2C
contingent resources of 2.6 billion barrels of oil equivalent (2.3
billion barrels of oil equivalent net to Hurricane).
In September 2018, Spirit Energy farmed-in to 50% of the Lincoln
and Warwick assets, committing to a five-phase work programme
targeting sanction of full field development in 2021.
Glossary:
2P Reserves Proved plus probable reserves under the Society
of Petroleum Engineers' Petroleum Resources
Management System
2C Contingent resources Best case contingent resources under the
Society of Petroleum Engineers' Petroleum
Resources Management System
FPSO Floating production storage and offloading
vessel
Spirit Energy Spirit Energy Limited
Inside Information
This announcement contains inside information as stipulated
under the market abuse regulation (EU no. 596/2014). Upon the
publication of this announcement via regulatory information service
this inside information is now considered to be in the public
domain.
Competent Person
The technical information in this release has been reviewed by
Dr Robert Trice, who is a qualified person for the purposes of the
AIM Guidance Note for Mining, Oil and Gas Companies. Dr Robert
Trice, Chief Executive Officer of Hurricane Energy plc, is a
geologist and geoscientist with a PhD in geology and has over 30
years' experience in the oil and gas industry.
Standard
Resource estimates contained in this announcement have been
prepared in accordance with the Petroleum Resource Management
System guidelines endorsed by the Society of Petroleum Engineers,
World Petroleum Congress, American Association of Petroleum
Geologists and Society of Petroleum Evaluation Engineers.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHFESFWMFASEIF
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