Hurricane Energy PLC (LSE:HUR) 7.48p, Market Cap £149m: Prax confirms terms Despite the increase in shareholder activism seen in the last 12M across the E&P sector, the exhaustive nature of the sales process and support of ~45% of the shareholder base is likely to ease the deal's passage. More importantly, Prax has hired a management team led by Alessandro Agostini, Oliver Dunn and Iain McKendrick, which has a considerable track record in executing upstream deals and considers Hurricane as the first step and the platform to build an upstream division through the acquisition of further, complementary UK continental shelf upstream assets. Vår Energi (FRA: J4V) NOK26.5, Market Cap NOK66.1bn: Solid 1Q results Vår shareholders will hope that the guided flat average FY23 production of between 210-230kboe/d continues to benefit from the relatively strong commodity price environment to generate material operating cash flows that are being used to progress 17 sanctioned development projects in Norway.