Hurricane Energy

Like London buses, news from HUR is coming thick and fast, today we hear that the buoy for the Lancaster EPS has sailed away from DryDock World in Dubai on time. A substantial piece of kit, we saw it in December and I caught a glimpse more recently, it is cheering to see another piece of the FPSO jigsaw in getting in place ahead of first oil in 1H 2019.

SDX Energy

As usual results are academic as so much has happened since the period end, in particular in Morocco where the drilling campaign ended up 7/9 and with spectacular success at the Lalla Mimouna key exploration wells. In Egypt three new discoveries with the drill bit have given plenty of vision here and specifically have opened up huge potential at South Disouq.

The year couldn’t have gone much better for SDX and it is poised to add value in both its key geographies. High margin, quick to develop projects will fall through to the bottom line and create yet more value for shareholders.

Genel Energy

I am looking forward to today’s AGM, primarily as the Board have promised to meet shareholders after the formal proceedings . The company is looking to build momentum and at present is generating significant amounts of cash with payments from the KRG exceeding $100m so far this year.

The Peshkabir wells are operating very well and coming in thick and fast and will provide yet more near term value. Longer term the Bina Bawi and Miran fields should deliver a massive gas project whilst in the nearer term there is a mouthwatering oil development waiting to go.

Politically Genel is looking much stronger, sure the recent elections in Iraq will take some working out but downside seems pretty limited. I have followed Genel since float and rarely seen it in better nick, will report back from AGM via the usual channels.