A topsy turvey week for oil as US trade wars now with Mexico spook markets and inventory figures show products building. Savannah Petroleum have moved a stage closer to completing the seven Energy deal with the UERL buy-out being closed and good progress elsewhere. I catch up with the Jadestone Energy figures and they look to be progressing very well. UOG have a new CFO but with much experience and i talk to Doc Holiday about oil stocks.
Tagged with: Chariot Oil & Gas
, Genel Energy
, Jadestone Energy
, Petro Matad
, Predator Oil & Gas
, Premier Oil
, President Energy
, Reabold Resources
, Rockhopper Exploration
, RockRose Energy
, Savannah Petroleum
, Sound Energy
, Union Jack Oil
, United Oil & Gas
, Upland Resources
Doc Holiday caught up with Malcy to discuss a number of interesting changes across the markets. Investors have been perplexed by the market’s reaction, yet the oil price continues to trade strongly at $70 a barrel presenting an argument that…
Oil rallies a bit but nothing much has changed, I report today on the upcoming drilling programme for Petro Matad which should be exciting.
WTI $57.91 -$3.51, Brent $67.76 -$3.23, Diff -$9.85 +28c, NG $2.58 +4c Oil price Oil came down with a bump yesterday, the supply shortages are forgotten and the ramping up of the war of words on the US/Sino trade situation…
Oil under pressure as US inventory data takes over from supply shortages although Opec are still expecting to keep supply restrictions at the next meeting. A good, positive statement from Trinity who have an exciting year ahead of them not least their first high-angled well. Also good news from President where production is scheduled to continue to rise by at least 50% in the next two years after a $50m fully funded work programme. SOCO has brought on its recent acquisition in Egypt which will soon match Vietnam for production and with a dividend payment and strong management looks good. Finally Simon Davies returns to the Chair at Sound Energy and at a key time for the company.
Oil is muddled, GDP numbers are being trimmed and the API showed another stock build but political tensions are still high. Sound Energy have announced a strategic upgrade in which they acknowledge the disappointment of the TE-10 well not flowing commercial gas but starting the process of monetisation options. And Getech has announced that it is playing a big part in the Sierra Leone licencing round.
Crude has rallied again this morning after further skirmishes in the Gulf which are unlikely to end any time soon. Today I take a look at Gulfsands Petroleum who have published report and accounts and whilst not listed right now can be traded and may well be worth a ‘turn of the head’.
Today Malcy discusses Echo Energy (ECHO), Rose Petroleum (ROSE), Pantheon Resources (PANR), Jersey Oil & Gas (JOG), Reabold Resources (RBD), Amerisur Resources (AMER), SDX Energy (SDX), Falcon Oil & Gas (FOG), Block Energy (BLOE) and Egdon Resources (EDR)
Oil is strong after the Opec+ committee announced that quotas are likely to remain at next months meeting. Echo has announced that it has done a deal with CGC and is now concentrating on Tapi Aike and has materially reduced near term capital requirements which is very good news. JOG results are behind them and now with their partners they are setting about finding further prospects on the licence and looking at the extensive 3D seismic from last year. Rose Petroleum has raised money from OCE after previous donor Robert Bensh withdrew, and on better terms. With Reabold announcing commerciality of its two wells in California all we need now are the flow rates…And on that subject Pantheon is excited about the Alkaid well but still no commerciality here..
Oil firm as the Saudis hit back at the Houthi rebels. SDX reduce guidance and lose CEO Paul Welch, at Falcon they raise a bit to top up for this year and next year existing carry. All in line at Cairn with no change in guidance or plans in development and exploration. Earlier this week Wentworth updated and all is going well, yesterday Block Energy raised £12m, a solid achievement given how fast they have moved and at Egdon they raised £2.17m. Empyrean has seen gas clouds at Topaz and Jade which CNOOC say is good news and Lisa Mitchell moves from Lekoil to San Leon…