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Description of business:
Hurricane Energy plc ("Hurricane" or "the Company") is a UK-based oil & gas company focused on the exploration and exploitation of fractured basement reservoirs. The Company was founded in 2004 and has acquired acreage West of Shetland. This acreage includes two fractured basement discoveries made by Hurricane (Lancaster and Whirlwind), two fractured basement prospects (Lincoln and Typhoon) and two sandstone reservoir assets (Strathmore and Tempest). Hurricane's assets comprise 444-470 MMboe 2C contingent resources. The basement reservoirs provide an additional 432-442 MMboe P50 prospective resources. Since Hurricane was founded it has undertaken, as operator, exploration drilling and testing on two fractured basement prospects and further appraisal drilling and testing on one of these. Lancaster and Whirlwind have each been independently attributed c.200MMboe recoverable 2C contingent resources; these discoveries are significantly larger than the average size of discovery on the UKCS during the same period (20-23 MMboe). Hurricane has 100 per cent. ownership and control of its assets, has a portfolio of exploration opportunities and has prepared an appraisal and exploration programme designed to progress the Company's assets. The first (appraisal) well in the programme will involve the Company drilling and testing a horizontal well on Lancaster in 2014. The Company's main country of operation is the UK.

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Hurricane Energy plc

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