Month: July 2019

Oil price, Trinity, President – And finally…

Oil is calm at the moment, TS Barry has gone and production from the GoM has restarted and refineries are getting back up to speed. Economic news from China is mixed though giving the bears something to worry about. In company news two of the most undervalued, cheapest and well managed stocks have updates today and they both have excellent news to report. Trinity is embarking on a second half of exciting drilling with 8 wells including their first High Angle Well. For President they too are using practices from the world wide oil industry as they frac the Puesto Flores field with great success. I expect both companies to deliver the goods not only in H2 but for the foreseeable future.

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Oil price, Egdon/Union Jack – And finally…

Oil ended up firmly last week as inventories fell, the Middle East flared up and Tropical Storm Barry hit the GoM. Today Lekoil deliver an update, fairly news-lite and Egdon and Union Jack find oil at Biscathorpe which had seemed dry.

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Oil price, Hurricane Energy – And finally…

Oil will end up on the week with substantial stock draws and continued volatility in the Middle East. Today I report back from the Hurricane Energy Capital Markets Day held yesterday which went a long way to convincing the market about the Lancaster EPS.

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PetroTal

I look at the PetroTal update which confirms my observations in the last note that the company is in a strong position with excellent opportunities going forward.

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Oil price, Wentworth Resources – And finally…

Oil was quiet yesterday but the API stats showed a draw of 8.1m barrels after the close so this morning Brent is around $65. Wentworth Resources has announced that it is planning a dividend from the FCF from Mnazi Bay which should give the stock a yield of between 5-8% which is good news for shareholders.

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Oil price, Chariot, Infrastrata – And finally…

Mixed news on oil but balance may be on the upside with stocks coming down and political risk rising again. Chariot have an AGM statement which should please those in the audience as it gives a good overview of the importance of the Lixus licence and its discovered gas. Infrastrata have entered into an agreement to potentially buy an offshore gas project at Barrow-in-Furness but have yet to FID Islandmagee.

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Oil price, Predator, VOG, SDX, Gulf Keystone – And finally…

Oil is quiet and after a modest fall last week traders are uncertain which way to go, with production cuts or GDP cuts? Predator has announced that Ram Head, its Celtic Sea gas discovery will now look more interesting after the Irish govt decided not to proceed with the Climate Emergency Bill. VOG updated by just a few days and are also getting paid, GKP are buying shares back and SDX are sort-of on time with South Disouq…

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Oil price, Eco Atlantic, Gulf Keystone, IGas, Petro Matad -And finally…

July 4th meant very little trade, WTI was shut and Brent drifted. Today I’m talking about Eco Atlantic who have spudded offshore Guyana, Gulf Keystone who have paid a divvi today, IGas who announced further conventional activity yesterday and a report on a meeting with Petro Matad CEO Mike Buck.

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Oil price, PetroTal Corp, Predator Oil & Gas

Oil prices rallied ahead of the Independence Day holiday in thin trade, EIA stats were not as good as the API but the market was in holiday mood. I initiate coverage on PetroTal Corp where I met CFO Greg Smith recently and find the story having significant potential. Finally Predator has good news from Trinidad where the CEC is issued and work is ready to get under way.

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Oil price, Columbus, AAOG, Infrastrata, Gulfsands – And finally

After the Lord Mayors show, with the Opec+ finally announcing the continuation of production cuts the market has moved on and now worries more about falling growth in manufacturing around the world. I write up Columbus Energy after a new presentation by CEO Leo Koot at last weeks AGM and the autumn looks highly promising. AAOG has raised money again with a few bells and whistles but if it goes ok they will have £8.25m to spend on recovering oil from the Djeno. Finally Infrastrata announce that they still in equity and debt discussions for funding and today is the last day of the auction for Gulfsands shares for another quarter.

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