Wednesday 16 June 2021

Hurricane Energy plc, the UK based oil and gas company, provides an update on operations to plug and abandon the 205/26b-14 ("Lincoln-14") well on the P1368 (South) licence in the Greater Warwick Area ("GWA"), which Hurricane operates on behalf of the GWA joint venture (Hurricane 50%, Spirit Energy Resources Limited 50%).

The Company previously announced, including in the Proposed Financial Restructuring announcement as initially published by the Company on 30 April 2021, that the GWA joint venture has a regulatory obligation to plug and abandon the Lincoln-14 well by 31 October 2021, and that a rig had been contracted by Hurricane, as licence operator, for this purpose.

The Company can confirm that the Stena Don semi-submersible rig is now on hire. The Lincoln-14 plug and abandonment is scheduled to take c.20-25 days to complete with a gross budgeted campaign cost of c.$13 million (net $6.5 million to Hurricane).