Hurricane Energy PLC (LON:HUR) deserves a place at the London Stock Exchange’s top table, according to oil companies expert Malcom Graham Wood, who reckons the UK offshore oiler could be a £1bn company relatively soon.
On Thursday, Hurricane told investors it was considering an upgrade to its listing, with a potential transfer from the junior AIM market to a premium listing on the London Stock Exchange.
The successful UK offshore oiler, which raised more than £500mln of capital earlier this year, has announced a number of measures to recognise the company’s new size and scale.
Hurricane has been able to advance the large Lancaster field in Scotland’s West of Shetland region to the cusp of development for an early production system (EPS).
It recently greenlighted the EPS which will come online in 2019 and deliver up to 17,000 barrels of oil per day. The EPS will be a precursor to a larger development of the potential multi-billion barrel oil project.
Malcolm Graham Wood, in an interview with Proactive Investors Stocktube, talked through his views on Hurricane, its progress towards first as well as other investors' favourite oil and gas stocks such as Echo Energy PLC (LON:ECHO) and recently listed Reabold Resources PLC’s (LON:RBD).