Month: December 2018

Amerisur/Gulfsands, Ophir Energy,Cabot, Faroe

Amerisur and Gulfsands have completed their deal in PUT 14 which looks good from both sides. Ophir are in the last chance saloon in Equatorial Guinea, Cabot are in financial dire straits and I take a look at the latest Faroe defence document.

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Sound Energy, Faroe Petroleum

Sound has a gas discovery in Tendrara which subject to testing will confirm their belief in the TAGI. Faroe has a water wet hole at the Ula prospect in the Norwegian North Sea.

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Oil price, Victoria Oil & Gas And finally…

Oil remains weak and will likely do so until the New Year. Today sees Victoria Oil & Gas regaining their contract in Cameroon and now look in a very strong position heading into 2019.

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Oil price, Savannah, Range, Pantheon And finally…

Another bad day for oil as the Fed concerns leave markets across the board taking money off the table. Savannah Petroleum add serious value to their Seven Energy Transaction and Pantheon are buying into Alaska with a raise at 15.25p.

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Core Finance CEO interview: Andrew Knott of Savannah Petroleum

Today Malcy is joined by Andrew Knott, CEO of Savannah Petroleum

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Oil price, Faroe, President, Range, Wentworth And finally…

Oil rallied yesterday but fell sharply along with markets worldwide after the Fed raised rates again. Faroe has released its response to the DNO bid which ‘substantially undervalues this high growth, full cycle NS business’. Derisory. More good news from President who have closed out the new concessions at Puesto Prado and are getting to work on the assets. Range Resources say that they are paying the coupon on the convertible in shares to keep cash in the business. And from earlier in the week I look at Wentworth Resources who have exited Mozambique and may be one to watch for 2019 on the corporate front.

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Oil price, Reabold, Angus, IOG And finally…

Oil crashes again, Fed decision today, Reabold spud in California and Angus start tests at Brockham. And from yesterday, Board changes at IOG.

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Petrofac, President, IOG, Infrastrata, IGas, Cairn/Far, Aminex

A round up on the move of a number of companies including Petrofac trading update, President having further well success and other news from the sector.

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Oil price, DGO, Block Energy And finally…

Oil will likely end up roughly all square on the week, down slightly today on poor Chinese economic data but better inventory data this week has helped a bit. DGO have posted a nice dividend which should please investors and Block Energy are doing well in Georgia.

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Oil price, Frontera, Solo, Echo, Reabold, RockRose And finally…

Oil rallied small yesterday mainly on Libya shortfall but is better this morning after a surprise draw of crude stocks of 10.2m reported after the close by the API, gasoline drew 2.5m barrels, also better than forecast. Frontera has signed a term sheet for a loan of up to $60m which will accelerate activity in Georgia substantially and Solo continues its tidy up with sale of its interest in PEDL 331 to UKOG. I also follow up from yesterday on Echo Energy and Reabold Resources.

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