Hurricane Energy PLC Operational Update (0007O)
May 27 2020 - 1:00AM
UK Regulatory
TIDMHUR
RNS Number : 0007O
Hurricane Energy PLC
27 May 2020
27 May 2020
Hurricane Energy plc
("Hurricane" or the "Company")
Operational Update:
Greater Warwick Area
Hurricane Energy plc, the UK based oil and gas company focused
on hydrocarbon resources in naturally fractured basement
reservoirs, provides an update in relation to planned activities on
the Lincoln subarea of Licence P1368, part of the Greater Warwick
Area ("GWA").
In light of the COVID-19 pandemic, Hurricane has requested
extensions to certain licence commitments pertaining to Lincoln.
The Oil and Gas Authority has responded positively to these
requests, extending the deadline for commencement of the GWA joint
venture's commitment well on Lincoln to 30 June 2022 and extending
the deadline for plugging and abandoning well 205/26b-14 (Lincoln
Crestal) to 30 June 2021.
Dr Robert Trice, Chief Executive of Hurricane, commented:
"We would like to thank the Oil and Gas Authority for their
flexibility regarding the timing of activities planned at Lincoln
during these challenging times."
Contacts:
Hurricane Energy plc +44 (0)1483 862
Dr Robert Trice, Chief Executive Officer 820
Stifel Nicolaus Europe Limited
Nominated Adviser & Joint Corporate Broker
Callum Stewart / Ashton Clanfield +44 (0)20 7710 7600
Morgan Stanley & Co. International plc
Joint Corporate Broker
Andrew Foster / Tom Perry / Alex Smart +44 (0)20 7425 8000
Vigo Communications
Public Relations
Patrick d'Ancona / Ben Simons
hurricane@vigocomms.com +44 (0)20 7390 0230
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% owned by Hurricane) is the UK's first
producing basement field. Hurricane is pursuing a phased
development of Lancaster, starting with an Early Production System
consisting of two wells tied-back to the Aoka Mizu FPSO.
Hydrocarbons were introduced to the FPSO system on 11 May 2019 and
the first oil milestone was achieved on 4 June 2019.
In September 2018, Spirit Energy farmed-in to 50% of the Lincoln
and Warwick assets, committing to a phased work programme targeting
sanction of an initial stage of full field development.
Glossary
FPSO Floating production storage and offloading
vessel
Spirit Energy Spirit Energy Limited
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END
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