Hurricane Energy Plc H1 2020 loss witness substantial rise; stocks slump over 50%

September 12, 2020 06:01 AM AEST | By Team Kalkine Media

Hurricane Energy Plc (LON:HUR) has released its half-year results for the period ended 30 June 2020.

  • Loss after tax for the period witnessed a massive rise to $307.7 million as compared to Loss of $21.4 million in H1 2019.
  • The loss included $238.9 million impairment related to the Lancaster field and a $34 million credit in relation to the fair value of the Convertible Bond.
  • The company’s revenues surged to $81.9 million in the reported period from seven liftings of Lancaster crude as compared to $22.5 million in H1 2019.
  • The company was having net free cash of $106.2 million as at 30 June 2020 as compared to $133.6 million as at 31 December 2019.
  • On 11 September 2020, at the time of writing, GMT 11:11 AM, HUR shares were trading at GBX 3.14, down by 3.16 points or 50.16% against the previous day closing price.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.


AU_advertise

Advertise your brand on Kalkine Media

Sponsored Articles


Investing Ideas

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.