WTI $60.93 -1c, Brent $66.17 +7c, Diff -$5.24 +8c, NG $2.29 -3c
Oil had fallen after hours on Tuesday when the API stats had shown a build of 4.7m barrels, yesterday’s EIA numbers were better at a draw of 1.1m b’s and the market duly recovered. This morning crude is off a few cents showing correct total disregard to the Democrats impeachment ruse.
Echo has announced that the Petreven H-205 rig is mobilising to the Palermo Aike production concession on the Santa Cruz Sur assets to drill the CLix-1001 well. The well is expected to spud in the week ending the 29th December and is targeting the Springhill conventional reservoir. These are exciting times for Echo, with 2020 seeing both exploration and appraisal drilling to confirm the recent balancing of the portfolio giving much to look forward to.
Diversified Gas & Oil
Some housekeeping from DGO who have appointed a new NED, Melanie Little as they move towards a Main Market listing. They also announce that the 2Q dividend will be paid on the 20th December and in sterling will be 2.65p per share.
PetroTal also announce new NED’s, in their case Eleanor Barker and Roger Tucker will be joining the board. Doug Urch recently moved off the board to take up the CFO role.
Further results from the Coho-1 well are making the month of December a red letter one for Touchstone, an AOF flow rate of 46 MMcf/d is more than promising even if it is initialising at around 10-12 MMcf/d. The gas is pure, sweet and dry with 98.7% methane, no hydrogen sulfide and negligible fluids.
I did a Podcast with Doc Holiday of Total Market solutions recently in which I covered Coro, Reabold, Chariot, Hurricane, Eco Atlantic, Predator, Tullow, Zenith, Premier, United, Rockhopper, Savannah Petroleum and Anglo African Oil & Gas. The link is below.