I discuss an ‘up’ week for oil and likely more of the same. Sound Energy stamps its Morocco acreage, Amerisur spuds what might be a big well in the ‘N’ sands and Echo updates from Bolivia and production and revenue from Argentina. Eco (Atlantic) looks like it and Tullow have something big in Guyana after Exxon announces its 9th success next door and Getech pleases with its H1 update.
Flash blog today on good news from Trinity, exceptional results from Hunting, a smart deal from Solo and a stateside find for Reabold.
Having dropped around 20% in Tuesday’s deals the sell-off in Echo Energy shares, in the wake of a disappointing well result, has gone too far – that’s according to Malcolm Graham-Wood.
With the oil price having its strongest week for some time I try and explain why, SDX has a fine set of figures and explains how well things are going while Echo has a disappointing test but not bad when put into context. Far gets Ministry approval for its farm-out in The Gambia which is very positive and Faroe sees off DNO but for how long?
The oil price ends the week on a high, the first for a while. I talk about the Premier Oil meeting and the positive outlook for Sea Lion with Rockhopper, I also discuss Petrofac selling Greater Stella to Ithaca. And disappointing news from Bahamas Petroleum whose suitor has left them at the altar.
A flash blog today on the Premier intermission and news from Aminex.
A slightly better day for crude oil, I discuss the news from Sound following their completion of 2D seismic and take a look at the Wood Group interims.
Malcy talks about the following stocks: Premier Oil #PMO, Trinity Exploration & Production #TRIN, Faroe Petroleum #FPM, SDX Energy #SDX, Independent Oil & Gas #IOG and Falcon Oil & Gas #FOG
The oil price fell last week but has opened better today, a narrow range is still likely. I discuss further good news from Premier as Tolmount is sanctioned, look at Eco (Atlantic) as Exxon surround them, this time in Namibia. I also look at Falcon Oil & Gas as they announce plans for the Beetaloo shale and detail my thoughts on a meeting with InfraStrata.
A small rally in the oil price yesterday and again today. SDX has further success at South Disouq, VOG are fighting back in Cameroon whilst Faroe are trying to repel Norwegian boarders. IOG has raised the money for the Harvey well from London Oil & Gas.