WTI $47.49 +$1.80, Brent $48.90 +$2.04, Diff-$1.41 +27c, NG $2.95 +11c
It’s all going according to plan as world oil chiefs slowly come into line ahead of next weeks meeting. Yesterday it was primarily the work of Iran who accepted that they would have to participate in at least a freeze, from what levels I will leave you to judge. Russia also weighed in with positive comments, you can almost feel the love in the air…. As for the Saudis they are trying to keep all the balls up in the air, as I said last week in interview with Jeremy Naylor at IGTV (link in Friday’s blog or on website) I think that this meeting pretty much has to work and not just so they can get a fair wind behind the oil price ahead of the Aramco privatisation….
Confirmation today that the deal between the above has been completed and that UJO have bought a 3.34% WI in PEDL’s 180 and 182 from EOG for £600/-. The licences contain the Wressle discovery and the Broughton North prospect, the former is shortly to be coming onstream and hopefully pumping 500 b/d. Key for EOG is that the money tides them over and pays some of their costs and also values the play at £5.4m, of which their 30% is half of their market cap. But much more exciting is for UJO as they are on the up, using recent fundings to increase their stakes in their onshore portfolio and genuinely appear to be slowly but surely and of course in modest stakes, building an onshore business.
Firstly massive apologies, I have rarely had such an avalanche of emails as yesterday when I left Sir Andrew Muzza out of the and finally! It wasnt deliberate, the blog was running horribly late and my handwriting let me down, he was meant to be there! Congratulations, world number one and beat Djocko into the bargain!
Last night Baggies fans celebrated long into the night, not only the regulation clean sheet but four goals into the bargain, Tony Pulis must have taken the night off or something, theres going to be big trouble when he gets back I assure you….
The FA insist on making Gareth Southgate interview for his own job, again and only shows what a total bunch of unprofessional Richard Têtes we have running the game….
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