The Oil Man: Hunting, Victoria, Hurricane

Hunting has announced that it is doing an equity placing this morning of 9.8% of its stock. The trading update that goes with it suggests some increase in enquiries, but the tone remains uncertain in the industry.

More when I know the price etc., but given the strength of the share price this year this is probably a wise move with the backing of major shareholders.

Amec FW has announced a trading update which states that trading is in line with expectations, further cost cutting and restructuring. The capital markets day has been pushed back to March when all will be revealed; again, more later.

Victoria Oil & Gas has a third-quarter operational update in which it states that grid power sales in the quarter were above take or pay levels and therefore in line with expectations.

After having been badly affected by a lightning strike, the Logbaba rig is almost ready to go and will spud in November.

The amount of pipeline construction has been most impressive, now reaching 45km and the outlook is most promising; again, more after a chat with the company.

Hurricane Energy has released the final part of the results from the Lancaster horizontal well, which will now be prepared as a second producer. The natural flow rate was an impressive 6,520 stock tank barrels per day (stb/d) and with an ESP was 14,500 stb/d, the PI of 147 stb/d was incredibly impressive.

Much more on all these later/tomorrow with plenty more updates through usual channels.

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.