Hurricane Energy reports first oil at Lancaster EPS, offshore UK

6/6/2019

SURREY -- Hurricane Energy plc, the UK-based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, is pleased to provide an operational update in relation to the Early Production System development of Lancaster field.

On June 4, 2019, the Aoka Mizu FPSO's start-up phase completed with a 72-hr production test (first oil). The combined flow from both wells during this test period reached and maintained the planned production rate of 20,000 bopd. This marks the contractual provisional acceptance of the Aoka Mizu FPSO by Hurricane.

The Company anticipates a gradual ramp-up in facilities availability over the first six months of production towards long term operating efficiency of 85%. The Company restates existing guidance for facilities availability of three months at 45% and then a further three months at 65%, resulting in average production rates of 9,000 bopd and 13,000 bopd, respectively.

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