There have been three updates from Hurricane Energy (HUR) in the last fortnight. The first was the competent person's report for the Lancaster field, which put best estimates for recoverable volumes at 523m barrels of oil (mmbo) and oil in place of 2,326mmbo, pointing to a recovery rate of 22.5 per cent - itself an upgrade on 2013 estimates.
The second was a fundraising at a 5 per cent discount to the share price, which will be undertaken through the issue of 25m warrants. The money will be used to fund certain long-lead items associated with Lancaster's early production system. Hurricane has also said the funds will strengthen its hand in ongoing discussions to fund the production system's $467m (£360m) construction. Accounts for 2016 were also filed, but were somewhat irrelevant in view of operational progress since January.
