WTI (Oct) $85.96 +$2.36, Brent (Nov)* $90.49 +37c, Diff -$4.73 -47c.
USNG (Oct) $2.94 +5c, UKNG (Oct) 174.11p +4.05p**, TTF (Oct) €70.64 +€0.365.
*Denotes expiry of Brent October contract.
**Denotes comparison with Friday’s close, UK market closed yesterday for public holiday.
Oil price
Oil is up today, as I write, up $1.82 for WTI and by $1.46 for Brent, this comes as more military activity breaks out in the Gulf with the US attacking Larak Island off Iran and Iran attacking US bases in both Jordan and the UAE.
Kpler state that only around 5 commodity vessels per day are transiting the Strait of Hormuz at the moment whilst others are saying that as much as 6m b/d are going through in so called dark ships or via ship-to-ship transfers…
And the US Venezuelan deal seems to be on, more details today I understand but it is with the ‘colourful’ Blue Energy Partners and apparently it is a way for the US to refill the SPR, that is going to take some doing not least as a great deal of it has been done via contracts with oil companies.
And it was 47 years ago today that I walked up Queen Street in Edinburgh and joined Wood Mackenzie as a trainee, I have been in love with the energy sector ever since and WoodMack were a fantastic place to start, something I have never regretted…
Chariot
Chariot has announced that it is supporting Etu Energias S.A., the leading Angolan private E&P company, in its acquisition of an additional 31% working interest in Block 14 and 15.5% interest in Block 14K, offshore Angola. As announced, Etu Energias has now signed a sale and purchase agreement in connection with the Acquisition, please see link to their press release as below.
In relation to the Acquisition, Chariot has signed a Framework Agreement with Etu Energias and BW Energy, the fast-growing independent oil and gas company, to support Etu Energias in the Acquisition and enable Etu Energias to proceed with its intention to take on operatorship of Block 14.
The Framework Agreement between Etu Energias, Chariot and BWE establishes the long-term commercial partnership between the Parties, and the basis on which BWE and Chariot will provide operational and technical expertise to support Etu Energias in its intention to take on operatorship of Block 14.
In return for services and support provided, Chariot will be economically exposed to future cashflows equivalent to additional production of circa 4,000 barrels of oil per day, with an asset base case indicative net NPV10 to Chariot in excess of US$100 million at a US$60/bbl oil price.
Shell Western Supply and Trading Ltd is providing the entirety of the required acquisition debt funding to complete the transaction.
Adonis Pouroulis, CEO of Chariot, commented:
“We are delighted to be working alongside BWE and Shell Trading to further support Etu Energias in its acquisition of these interests in Blocks 14 and 14K and we see this as an excellent working partnership going forward. This agreement effectively doubles our economic footprint in Angola, complementing the transaction announced earlier this year through a strengthening of our relationship with Etu Energias as it continues to build its position as the pre-eminent local operator. We look forward to working alongside BWE, with whom we have a complementary skill set and an aligned vision to realise the untapped potential of these material oil assets. This agreement is also very much in line with our plans for growth as we continue to increase our exposure to oil production and revenues.”
The transformative deal which is once again financed by Shell, now gives Chariot exposure to cashflows from production totaling circa 8,000bopd from Block 14 in return for ‘supporting’ Etu Energias in its quest for operatorship of the block. The support apparently consists of technical and operational factors and whilst extending the first deal, I suggest a number more deals might be forthcoming.
The scale, or heft that this provides and at what seem to be exceptional prices, is perfect for Chariot going forward in its transit towards becoming a substantial, significantly cash generating upstream business in what is currently one of the energy sector’s best quality post codes.
My faith in Chariot is renewed by these deals and with the potential for more in the future shareholders should be delighted. The shares are up some 15% today, +28% on the month, up 40% over six months and 36% higher year on year. I believe that there is still optimism about value at Anchois and of course the power business is in the process of being sold off and the upside is still significant.
Europa Oil & Gas
Europa has provided an update regarding the binding Farm-out Agreement signed by its associated company, Antler Global Limited and Fuhai (Beijing) Energy Limited, a wholly owned subsidiary company of the privately owned Fuhai Group New Energy Holding Co., Ltd to farm-out a 40% interest in the EG-08 production sharing contract in offshore Equatorial Guinea.
Further to the announcement regarding the FOA to Fuhai on 31st July 2026, the Company reports that the Longstop Date for completion of the transaction has, by mutual agreement, been extended to 30 September 2026.
The FOA has received approval from the Ministry for Mining and Hydrocarbons Department of Equatorial Guinea (“MMHD”), as announced on 29 May 2026, and remains subject to Outbound Direct Investment (“ODI”) approval from the Beijing Municipal Development and Reform Commission (“MDRC”). Europa understands that the various Chinese government approvers remain satisfied with the Fuhai ODI application and that Fuhai expects to receive this approval in the coming weeks, but further data requests from MDRC have again delayed the approval. The new Chinese regulations on outbound investment that came into force on 1st July 2026 have impacted the speed of the approvals and ODI applications are taking longer than expected. However, the MDRC have indicated that the Fuhai application continues to be processed and is expected to be approved shortly.
Europa has a 42.9% equity interest in Antler which, on completion of the FOA, will hold a 40% working interest in the EG-08 PSC, and remain as operator, with 40% held by Fuhai and the remaining 20% held by GEPetrol (Guinea Equatorial de Petróleos), the national oil company of Equatorial Guinea, representing the State’s interest.
Despite the delay in ODI approval the Company still expects to drill the Barracuda-1 well at the earliest opportunity, which is expected to be during early 2027.
William Holland, Chief Executive Officer of Europa, said:
“Although the ODI approval is taking longer than expected I am confident that Fuhai will secure this in the coming weeks. Once we have the ODI approval completion of the FOA still remains subject to the formalities of including Fuhai on the EG08 Production Sharing Agreement and EG08 Joint Operating Agreement, so extending the long stop date to the end of September is required to execute these final documents.”
No need for any comment here, the fact that the Farm-out has been delayed again is of little major significance, I share CEO Will Holland’s confidence that the clearance will eventually come through and that this is merely Chinese regulators taking their time over the paperwork. 🤞
Capricorn Energy
The boards of DNO, Bidco and Capricorn have announced that they have reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Capricorn by Bidco. The Acquisition is to be effected by means of a Scottish scheme of arrangement under Part 26 of the Companies Act.
Under the terms of the Acquisition, each Capricorn Shareholder shall be entitled to receive, in aggregate:
US$5.214 in cash for each Capricorn Share held (the “Acquisition Value”)
The Acquisition Value comprises, for each Capricorn Share:
· US$4.224 in cash (the “Acquisition Price”); and
· a special dividend of US$0.99, which is intended and expected to be declared by the Capricorn Board prior to the Effective Date (the “Permitted Dividend”).
The Sterling equivalent value of the Acquisition Value, being 384 pence per Capricorn Share based on the Announcement Exchange Rate, represents a premium of approximately:
· 45 per cent. to the Closing Price per Capricorn Share of 266 pence on 10 March 2026 (being the day prior to the start of the Offer Period (the “Undisturbed Date”)); and
· 60 per cent. to the volume weighted average price per Capricorn Share of 241 pence during the three-month period ended on the Undisturbed Date.
The Acquisition provides Capricorn Shareholders with superior value to the Genel Offer, as the Acquisition Value represents:
· an increase of US$0.474 per Capricorn Share as compared to the Genel Offer Acquisition Value; and
· a premium of approximately 10 per cent. to the Genel Offer Acquisition Value.
The Acquisition Value (assuming the Permitted Dividend is declared and paid in full) implies a value for the entire issued and to be issued ordinary share capital of Capricorn of approximately US$396 million on a fully diluted basis, which is equivalent to £292 million based on the Announcement Exchange Rate and an increase of approximately US$36 million to the implied value represented by the Genel Offer Acquisition Value on a constant currency basis.
The Acquisition Price payable under the Acquisition is expressed in US$. The US$ denominated Acquisition Price reflects the underlying characteristics of Capricorn’s business activities, which are largely denominated in US$. This is consistent with the Genel Offer.
As in respect of the Genel Offer, a facility will be made available under which Capricorn Shareholders will be able to elect (subject to the terms and conditions of such facility) to receive the cash consideration payable in connection with the Acquisition Price in Sterling (after, if applicable, deduction of any transaction or dealing costs (including any taxes) associated with the currency conversion) at the applicable market exchange rate at which the conversion takes place (the “Foreign Exchange Facility”). The applicable market exchange rate will be fixed on the latest practicable date prior to the relevant payment date. The amount received by any Capricorn Shareholder validly electing to be paid their cash consideration payable in connection with the Acquisition Price in Sterling may therefore be below or above 311 pence per Capricorn Share depending on the applicable market exchange rate that is applied and the deduction of any transaction or dealing costs (including any taxes) associated with the currency conversion. Further details of the Foreign Exchange Facility and the election to be made by Capricorn Shareholders who wish to receive their cash consideration payable in connection with the Acquisition Price in Sterling using the Foreign Exchange Facility will be set out in the Scheme Document and the applicable Form(s) of Election.
Certain non-director Capricorn Shareholders provided irrevocable undertakings to vote in favour of the Genel Offer at each of the court meeting and general meeting convened in respect of the scheme of arrangement to implement the Genel Offer (or, if the Genel Offer is to be implemented by way of a contractual takeover offer, to accept such offer) (the “Genel Offer Non-Director Irrevocable Undertakings”). As the Acquisition represents an improvement of 6.5 per cent. or greater in respect of the acquisition value of the Genel Offer, each of the Genel Offer Non-Director Irrevocable Undertakings has lapsed with effect from the publication of this announcement.
Permitted Dividend
As part of the Acquisition, the boards of DNO, Bidco and Capricorn have agreed to the declaration and payment of the Permitted Dividend. The Permitted Dividend represents the same value to Capricorn Shareholders as the dividend permitted by the terms of the Genel Offer. The Permitted Dividend is intended and expected to be declared by the Capricorn Board prior to the Effective Date, and will only be payable if the Scheme becomes Effective (or, if the Acquisition is implemented by way of a Takeover Offer and continues to be recommended by the Capricorn Board, the Takeover Offer becomes or is declared unconditional) to Capricorn Shareholders on the register of members at the Scheme Record Time (or, if the Acquisition is implemented by way of a Takeover Offer and continues to be recommended by the Capricorn Board, on the register of members on the date on which the Takeover Offer becomes or is declared unconditional).
Capricorn Shareholders will note that the quantum of the Permitted Dividend represents an aggregate payment to shareholders of approximately US$75 million. Whilst payment of the Permitted Dividend will be subject to compliance with applicable statutory requirements at the relevant time, prior to the announcement of the Genel Offer, the Capricorn Board concluded that in all reasonable circumstances Capricorn would have available to it sufficient cash resources to pay the Permitted Dividend in full. The Capricorn Board has updated that analysis prior to the date of this announcement and has again concluded that in all reasonable circumstances it will have available to it sufficient cash resources to pay the Permitted Dividend in full.
However, Capricorn Shareholders should note that the ability of the Capricorn Board lawfully to declare and pay the Permitted Dividend is subject to various factors outside its control and events may occur that result in the Capricorn Board concluding that it is no longer able to declare and pay the Permitted Dividend in full. If certain circumstances, as set out in further detail in paragraph 13 of this announcement, were to occur, the Capricorn Directors would consider all options available to them, including whether it is in the best interests of Capricorn Shareholders to continue to implement the Scheme, which may result in the Scheme not becoming Effective. If, whether as a result of the Permitted Dividend not being paid in full or otherwise, the Acquisition does not become Effective, the Permitted Dividend will not be paid.
DNO, Bidco and Capricorn have agreed that the Capricorn Board may declare and pay the Permitted Dividend without any reduction to the Acquisition Price. If, on or after the date of this announcement and prior to the Effective Date, any dividend, distribution, or other return of value or excess is announced, declared, made, or paid or becomes payable by Capricorn (other than, or in excess of the amount of, the Permitted Dividend), Bidco reserves the right to reduce the Acquisition Price payable under the terms of the Acquisition for the Capricorn Shares by an amount equal to the amount of any such dividend, distribution or other return of value or excess. In such circumstances, the Capricorn Shareholders shall be entitled to retain any such dividend, distribution, or other return of value announced, declared, made, or paid.
If declared, the Permitted Dividend will be paid to Capricorn Shareholders in Sterling, with the amount paid to Capricorn Shareholders being the Sterling equivalent of US$0.99 per Capricorn Share based on the prevailing exchange rate on the latest practicable date for fixing such rate prior to the relevant payment date.
If declared, the Permitted Dividend will be paid not more than 14 days after the date of the Scheme Record Time. The Permitted Dividend shall be paid to Scheme Shareholders whose names appear on the register of members of Capricorn at the Scheme Record Time. Further details are set out in paragraph 13 of this announcement.
Capricorn recommendation
The Capricorn Directors, who have been so advised by Canaccord Genuity as to the financial terms of the Acquisition, consider the terms of the Acquisition to be fair and reasonable. In providing its advice to the Capricorn Directors, Canaccord Genuity has taken into account the commercial assessments of the Capricorn Directors. Canaccord Genuity is providing independent financial advice to the Capricorn Directors for the purposes of Rule 3 of the Code.
Accordingly, the Capricorn Directors intend to recommend unanimously that Capricorn Shareholders vote in favour of the Scheme at the Court Meeting and the resolutions to be proposed at the General Meeting, each to be convened as soon as practicable following the date of this announcement.
On 2 July 2026, the Genel Board and the Capricorn Board announced that they had reached agreement on the terms of a recommended cash acquisition of Capricorn by Genel Bidco by way of Scottish Court-approved scheme of arrangement between Capricorn and Capricorn Shareholders under Part 26 of the Companies Act (the “Genel Offer“). The announcement of the Genel Offer stated that the Capricorn Directors intended to unanimously recommend that Capricorn Shareholders vote in favour of the Genel Offer at the relevant Capricorn Shareholder meetings. The Capricorn Directors subsequently gave such a recommendation in the Genel Scheme Document.
The Capricorn Shareholder meetings to approve the Genel Offer took place on 18 August 2026. At those meetings all resolutions were passed by the requisite majorities. The Genel Offer remains subject to the satisfaction or waiver of a number of other conditions, including the necessary Egyptian approvals.
Although the Genel Offer has not lapsed as a result of this announcement, in light of their intended recommendation of the Acquisition, the Capricorn Directors do not currently intend to ask the Court to sanction the Genel Scheme or to declare the special dividend in connection with the Genel Offer. The Capricorn Directors will update shareholders with any further developments in relation to the Genel Offer, including if any of the remaining conditions to the Genel Offer are satisfied or waived by Genel.
Randy Neely, being the Capricorn Director who has a beneficial interest in 4,395 Capricorn Shares, representing approximately 0.006% of Capricorn’s issued share capital on 28 August 2026 provided an irrevocable undertaking to procure a vote in favour of the Genel Offer at each of the court meeting and the general meeting convened in respect of the scheme of arrangement to implement the Genel Offer (or, if the Genel Offer is to be implemented by way of a contractual takeover offer, to accept such offer) (the “Genel Offer Director Irrevocable Undertaking”).
The obligations of Randy Neely under the Genel Offer Director Irrevocable Undertaking remain binding. Accordingly, Randy Neely will be required to procure a vote against the Acquisition at each of the Court Meeting and the General Meeting (or, if the Acquisition is to be implemented by way of a Takeover Offer, will not be permitted to accept the offer) unless the Genel Offer Director Irrevocable Undertaking lapses.
Background to and reasons for the Acquisition
DNO, founded in 1971, is Norway’s oldest oil and gas exploration and production company, with a strong Norwegian heritage and shareholder base. DNO is also one of Europe’s leading publicly listed independent oil and gas companies, with a diversified portfolio of upstream assets across the North Sea (Norway and the United Kingdom) and the Kurdistan Region of Iraq (“KRI”). Over the three years to 31 July 2026, DNO delivered a total shareholder return of 119 per cent, assuming reinvestment of dividends.
DNO has a long-established track record of investing and operating successfully in the MENA region and has maintained a presence in the KRI for more than two decades. DNO holds a 75 per cent participating interest in, and is the operator of, the Tawke Production Sharing Contract, which comprises the Tawke and Peshkabir producing fields. In December 2025, cumulative production from the Tawke license passed 500 MMbbl. DNO’s average net production in the KRI in 2025 was 52,569 boepd and, as at 31 December 2025, its KRI 2P reserves were 199.3 MMboe and 2C resources 55.4 MMboe.
In the North Sea, DNO has built a strong and material position through successful exploration and the transformative acquisition of Norwegian independent Sval Energi Group AS (“Sval Energi”) in 2025, demonstrating both elements of its organic and inorganic growth strategy. DNO’s average net production in the North Sea in 2025 was 81,059 boepd (pro forma for the Sval Energi acquisition) and, as of 31 December 2025, its North Sea 2P reserves were 181.8 MMboe and 2C resources 236.4 MMboe.
The Acquisition represents DNO’s entry into Egypt. DNO intends to develop Egypt as a third core area alongside the North Sea and the KRI, and has ambitious plans to build a significant Egyptian business over time, both operated and non-operated, through investment in the acquired portfolio, exploration and development activity and further acquisitions. DNO’s financial strength and access to capital position it to fund that growth.
In DNO’s view, Egypt offers attractive potential for organic and inorganic growth. DNO regards the country’s supportive regulatory framework for the oil and gas sector, and the continuing efforts of the Egyptian government to encourage exploration and foreign investment in the upstream sector, as important factors underpinning its attractiveness as a long-term investment destination.
DNO believes that Capricorn’s Egyptian assets and established in-country team provide a high-quality entry point and a platform from which to expand, particularly in the Western Desert, a well-established producing region with extensive infrastructure, proven petroleum systems and continuing industry investment. The Egyptian assets are operated by Badr El Din Petroleum Company (“BAPETCo”), a joint operating company owned by the Egyptian General Petroleum Corporation (“EGPC”), Cheiron and Capricorn. DNO brings extensive experience of working through joint arrangements as a partner on the Norwegian Continental Shelf and looks forward to contributing to BAPETCo and to working alongside EGPC and Cheiron. As a full-cycle oil and gas company with operating expertise across exploration, development and production, DNO believes it is well positioned to support and accelerate the development of Capricorn’s Egyptian business and, in due course, to assume operated positions in the country.
The Acquisition also further strengthens the resilience of DNO’s business. On completion, DNO will hold producing assets across three core areas, each with its own geology, fiscal terms, license and partner arrangements, marketing routes and cash flow profile. A broader production base across three jurisdictions reduces DNO’s dependence on any one of them and leaves the Enlarged Group better placed to absorb operational, commercial or regulatory developments affecting a single area, while sustaining investment across the portfolio and supporting returns to shareholders through the cycle.
As at 31 December 2025, DNO reported 2P net reserves of 390.1 MMboe and 2C net resources of 301.6 MMboe, and its net average daily production in 2025 (pro forma for the Sval Energi acquisition) was 136,915 boepd, the highest in DNO’s history. On completion of the Acquisition, DNO will have a third country of material presence and a significantly strengthened MENA business: on a pro forma basis, the Enlarged Group would have had 2P reserves of 443.3 MMboe, 2C resources of 383.0 MMboe and net average production of 156,939 boepd.
DNO’s possible offer for Genel
DNO announced on 7 August 2026 that it had approached the Genel board of directors (the “Genel Board”) on 28 July 2026 with a proposal for a possible offer to acquire Genel (“DNO’s Genel Proposal”). The Genel Board has not yet engaged constructively with DNO regarding DNO’s Genel Proposal.
In accordance with Rule 2.6(a) of the Code, DNO is required, by no later than 5.00 p.m. (London time) on 4 September 2026, to announce either a firm intention to make an offer for Genel in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Panel on Takeovers and Mergers in accordance with Rule 2.6(c) of the Code.
Timetable and conditions
It is intended that the Acquisition shall be effected by means of a Scottish Court-approved scheme of arrangement between Capricorn and Capricorn Shareholders under Part 26 of the Companies Act, although Bidco reserves the right to implement the Acquisition by means of a Takeover Offer (subject to Panel consent and the terms of the Co-operation Agreement).
The Acquisition is conditional on the approval of Capricorn Shareholders and subject to the further Conditions and terms set out in Appendix I to this announcement (which shall be set out in full in the Scheme Document).
The Acquisition shall be put to Capricorn Shareholders at the Court Meeting and at the General Meeting. In order to become Effective, the Scheme must be approved by a majority in number of the Capricorn Shareholders voting at the Court Meeting, either in person or by proxy, representing at least 75 per cent. in value of the Capricorn Shares voted. In addition, a special resolution implementing the Scheme must be passed by Capricorn Shareholders representing at least 75 per cent. of votes cast at the General Meeting.
The Scheme Document, containing further information about the Acquisition and notices of the Court Meeting and the General Meeting, shall be published within 28 days of the date of this announcement and the Court Meeting and General Meeting shall be convened as soon as practicable thereafter.
In line with Capricorn’s approach in relation to the Genel Offer, and in the context of the importance of developing a good working relationship between DNO and the Egyptian Government, DNO and Bidco (in cooperation with Capricorn) will be seeking the consent of EGPC to the Acquisition.
DNO believes that it is well positioned to receive the approvals in respect of the Egyptian Condition given its proven track record in oil and gas operations, notably onshore MENA. In the Kurdistan Region of Iraq, last January, DNO proudly celebrated cumulative production of 500 million barrels of oil since 2004 from the Tawke licence which it operates. DNO also has a long-standing history of good corporate citizenship and relations with host governments and local communities.
Capricorn Shareholders’ attention is specifically drawn to the Egyptian Condition, its importance to Bidco and DNO and the rationale for its inclusion (as set out in more detail in paragraph 15 below). The Egyptian Condition has been included at DNO’s request to take account of the particular circumstances of the Acquisition following negotiation between DNO and Capricorn. This is consistent with the conditions to the Genel Offer.
Capricorn Shareholders should note that DNO intends to seek the Panel’s consent to invoke the Egyptian Condition in accordance with Rule 13.5(a) of the Takeover Code if the Egyptian Condition is not satisfied or capable of being satisfied by the Long-stop Date. A decision by the Panel whether to permit DNO to invoke a Condition would be judged by the Panel by reference to the facts at the time that the relevant circumstances arise, including the views of the Capricorn Directors at the time.
It is expected that the Scheme shall become Effective (subject to the satisfaction of the Conditions) during Q4 2026 / Q1 2027.
Commenting on the Acquisition, Randy Neely, Chief Executive Officer of Capricorn, said:
“We are pleased to recommend this higher all cash offer from DNO. It maximises the value created by the Capricorn team and importantly increases the return for shareholders.”
Commenting on the Acquisition, Bijan Mossavar-Rahmani, Executive Chairman of DNO, said:
“Today marks an exciting chapter in DNO’s 55 year growth story as we move to acquire a high quality portfolio of oil and gas assets in Egypt.
Capricorn will add another business with scale, cashflow and growability to our existing operations in Kurdistan and the North Sea. With three core areas, each with its own geology, geography and geopolitics, DNO will be a more diversified and stronger company.
DNO has ambitious plans to build a significant Egyptian business through investment in Capricorn’s portfolio, participation in new license rounds and additional acquisitions. DNO’s technical capability, financial strength and can-do attitude will fuel that growth.”
Genel Energy
Statement regarding offer for Capricorn Energy
Genel Energy and Genel Energy No.9 Limited (“Bidco”), a private limited company indirectly owned by Genel, note the announcement regarding the recommended cash acquisition of Capricorn by DNO Bidco AS, a company directly wholly owned by DNO ASA (“DNO”), announced earlier today (the “DNO Offer”).
Following the DNO Offer, Genel is considering its position and a further announcement will be made when appropriate. Capricorn shareholders are strongly advised to take no action in response to the DNO Offer in the meantime.
Capitalised terms used in this announcement shall have the meaning given to them in the announcement of Genel’s firm intention to make an offer (through Bidco) for Capricorn dated 2 July 2026 unless the context otherwise requires.
And finally…
It was a busy weekend of sport and I didnt even mention it all on Friday, apologies.
The second test in Cape Town saw the Springboks get revenge for last week’s loss by beating the All Blacks 33-26, next game of four is next weekend. The Pumas lost to the Wallabies 21-27.
England beat Pakistan easily and go 2-0 up in the three test series but since then the losers have sacked the Coach and his assistant as well as despatching 7 players from the squad ahead of the 3rd test at Edgbaston on the 9th September. I cannot remember such carnage in a test squad during a series…
Moses Itauma failed in his attempt to make history by taking the IBF world title at the age of 21 as he ran out of gas in the 9th round but his is a name to remember.
Constitution Hill has been declared for the Melbourne Cup as might have been expected but his race on Saturday at Kempton is turning out to be a very hot one indeed with some very smart horses declared.
In the Prem there were wins for the Noisy Neighbours, the Magpies, Chelsea, the Black Cats, the Red Devils, the Gooners and the Tigers. Draws were between Liverpool and Forest, the Cherries and the Toffees, and Leeds and the Bees. And today is transfer deadline day with plenty of movers and shakers for way too much moolah.
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