TIDMHUR

RNS Number : 0048C

Hurricane Energy PLC

16 June 2021

16 June 2021

Hurricane Energy plc

("Hurricane" or the "Company")

Update on Lincoln-14 well plug and abandonment

Hurricane Energy plc, the UK based oil and gas company, provides an update on operations to plug and abandon the 205/26b-14 ("Lincoln-14") well on the P1368 (South) licence in the Greater Warwick Area ("GWA"), which Hurricane operates on behalf of the GWA joint venture (Hurricane 50%, Spirit Energy Resources Limited 50%).

The Company previously announced, including in the Proposed Financial Restructuring announcement as initially published by the Company on 30 April 2021, that the GWA joint venture has a regulatory obligation to plug and abandon the Lincoln-14 well by 31 October 2021, and that a rig had been contracted by Hurricane, as licence operator, for this purpose.

The Company can confirm that the Stena Don semi-submersible rig is now on hire. The Lincoln-14 plug and abandonment is scheduled to take c.20-25 days to complete with a gross budgeted campaign cost of c.$13 million (net $6.5 million to Hurricane).

-ends-

Contacts:

 
 Hurricane Energy plc 
  Antony Maris, Chief Executive Officer 
  Philip Corbett, Head of Investor Relations    +44 (0)1483 862820 
 Stifel Nicolaus Europe Limited 
  Nominated Adviser & Joint Corporate Broker 
  Callum Stewart                                +44 (0)20 7710 7600 
 Investec Bank plc 
  Joint Corporate Broker 
  Chris Sim / Rahul Sharma                      +44 (0)20 7597 5970 
 
 Vigo Consulting 
  Public Relations 
  Patrick d'Ancona / Ben Simons 
  hurricane@vigoconsulting.com                  +44 (0)20 7390 0230

About Hurricane

Hurricane has a 100% interest in and operates the Lancaster field, the UK's first field to produce from a fractured basement reservoir.

Hurricane also has a 50% interest in the Greater Warwick Area licence, which contains the Lincoln and Warwick assets.

Visit Hurricane's website at www.hurricaneenergy.com

Inside Information

This announcement does not contain inside information.

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June 16, 2021 02:00 ET (06:00 GMT)

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