Aminex are fighting hard to get back into favour and the current plan looks most interesting. Genel has let its Bina Bali and eventually it’s Miran licences-will also lapse and will be renegotiated on updated and agreeable terms. Finally Predator is firing on all cylinders in Morocco, Trinidad and in Ireland.
Malcy talks about the following stocks: Coro Energy (CORO), Predator Oil & Gas (PRD), Hurricane Energy (HUR), Reabold Resources (RBD), Upland Resources (UPL) and Serica Energy (SQZ)
Oil cracked a bit on Friday but it could have been avoided, the market can supply any shortfall but will be getting tighter through this quarter. Coro and Empyrean have agreed their drilling programme for Duyung and will drill an exploration and appraisal well in the autumn. Jadestone has a HOA for gas sales with Petrovietnam and Reabold is moving ahead in California.
Oil drifts after a strong run, Iraq threatening to raise production and inventory fears remain. United Oil & Gas up the ante in Italy with a CPR showing more upside and Reabold and Union Jack spud the West Newton A-2 well. Finally I report on an interesting meeting with Jeremy Asher, Chairman and CEO of Tower Resources.
Oil was mixed, WTI fell on poor inventory numbers and high imports while Brent rose on Iranian waiver panic. Predator has announced what seems like a great CPR on the onshore Morocco acreage with significant long term profitable potential and figures from Wentworth show good production from Mnazi Bay but after all the recent changes what does the future hold?
Oil rallies hard on US waivers being withdrawn, Saudi production falling again and the rig count falling. Falcon extends the ORRI in Australia and Upland has good new from Tunisia.
Malcy’s view on the prevailing oil price, plus Malcy talks with small-cap commentator Doc Holiday about a number of companies. Listen on the Total Market Solutions website: https://total-market-solutions.com/2019/04/23/malcy-talks-oil-gas-ix/
Oil is drifting ahead of the holiday weekend but fundamentals remain positive. I spoke to Paul Haywood this morning about the ongoing great news from Block, more to come I suspect and Jadestone has figures but are meaningless.
Hurricane has spudded the first of three wells in the Greater Warwick area, carried by Spirit. Trinity has an update which follows fast on the results statement but draws attention to the potential of the HAW rollout. Hunting are very much in line, still all guns blazing (!) in the onshore US but still slow offshore. Finally diehard followers of Enteq get a bit of good news, trading is buoyant.
Oil eased yesterday, markets were poor and some profit taking was observed. Coro has made first completion of its Duyung PSC acquisition whilst Premier have had another excellent well result in Mexico. Tower Resources are making admirable progress with well planning in Cameroon and whilst bank debt is arranged has received a bridging loan from Chairman Jeremy Asher. Finally Petro Matad has announced two rig contracts for the summer campaign in Mongolia, running about three months behind but will still manage four wells notably the key Heron-1.