Month: February 2019

The updated Bucket List, widely differing performances but I remain confident about the picks in the main.

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Flash blog as Iā€™m out of town but good to see the Echo announcement with regard to Tapi Aike which is still the potential jewel in the Argentine crown. As for Cairn and Far good signs of activity in Senegal and Far remains severely undervalued.

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Today Malcy talks about the following stocks: President Energy (PPC), Rock Rose Energy (RRE), Reabold Resources (RBD), United Oil & Gas (UOG), Hurricane Energy (HUR) and Bahamas Petroleum (BPC)

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Oil rose modestly on the week but has fallen back somewhat today, US/Sino trade is still in the melting pot. President is raising money to accelerate its Rio Negro programme which should substantially increase the gas proportion of the mix. RockRose has bought the Marathon UK North Sea and West of Shetlands assets for $140m nearly doubling the size of its portfolio and Reabold and United Oil & Gas have had a discovery at Colter but having missed the target which it will now try to get to with a side track. Independent Oil & Gas are going down the farm-out route for its SNS core assets and therefore may not have to have quite such a big funding…

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Oil looks like ending up on the week after Opec+ production continues to fall and risk is off right now. Bahamas Petroleum have had their licences renewed until December 2020 giving them more time to find a partner but with commitment to drill a well. Eco Atlantic are ranked 2nd in the TSX Venture 50 and I write up Serica after a meeting with CEO Mitch Flegg.

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The oil price continues to rise in a risk-off market place. Better news from Opec+ with the Saudis seeing the end of oversupply in the world market by April. Rockhopper has upbeat news from the Greater Med and with a potentially exciting end to the year… United Oil & Gas has had a CPR resources upgrade and COS rise in Jamaica and I review a meeting with Reabold Resources.

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A rig booking for Eco and partners brings drilling in Guyana into sight, it will be an interesting summer. For Enteq things are clearly looking up, well deserved.

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Presidents Day meant that trade was thin and so the market rose gently on lower production stories. DGO are continuing to sort out its decommissioning programme, this time in Kentucky whilst Touchstone has raised money for a well in the Ortoire property which if it came in would be very substantial.

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Oil had a very good week, Brent particularly so, after realisation that production cuts were indeed real filtered through. Sound Energy confirm that TE-10 is indeed a discovery and have made an upward revision of net pay numbers after a report from ERCE. I met with Eco Atlantic last week and both Gil and Colin remain very upbeat ahead of the drilling in Guyana. A profit warning from Plexus this morning was down to lower margins and higher overheads whilst Anglo African Oil has got some money back from SNPC but would have preferred a higher stake in the licence. Finally a word on AAA who are getting involved in Comarco Ports in Mombasa…

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Today Malcy talks about the following stocks: Sound Energy (SOU), Genel Energy (GENL), RockRose Energy (RRE), President Energy (PPC), Eco Atlantic Oil & Gas (ECO), Igas Energy (IGAS) and Anglo African Oil & Gas (AAOG)

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