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Upheaval and frustration as Hurricane Energy sinks to losses of £403m

By Allister Thomas and Keith Findlay May 26, 2021, 1:10 pm © Daren Cook Thank you for signing up to The Press and Journal newsletter. Something went wrong - please try again later. Sign Up Shares in Hurricane Energy fell more than 6% after it piled grim financial results for its last full trading year onto an already disastrous 2021. The troubled company sank to pre-tax losses of £403.3 million in 2020, largely due to a write-down of £400m on its flagship Lancaster oilfield. Lancaster was once thought to be the keystone to a 2.6 billion-barrel resource, but last month was downgraded by experts to an estimated 7.1m barrels of proven plus probable reserves.

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