The Saudis pulled the wool over the eyes of The White House and oil is up 2 1/2 bucks today after the Opec+ meeting didn't finish. Chariot has raised $9.5m plus what's in the Open Offer and it was oversubscribed with new, existing and management all in. Shell make a tactical exit from Cambo and I interview Andrea Cattaneo CEO of Zenith Energy
Oil unchanged ahead of Opec+, Scirocco updates on Tanzania whilst Savannah say that the Aim document is targeted for the 17th December. President has a success in Argentina and Sound confirm NED appointment.
In this roller coaster ride oil is up nearly 3 bucks ahead of the Opec+ meeting tomorrow. I look at Sound that continues to make good progress, and exciting times for Chariot as the rig for Anchois is mobilised. San Leon announces further delays and Angus updates with good news across the board. Finally Orcadian gets the OK from the OGA for the Pilot field and Prospex get under way finally in Spain.
Oil and markets fall again as the Omicron variant gets bad press around the world. I look at Sound who have done a great GSA deal with more to offer, and DEC who are moving ahead on the commitment to net zero. Longboat have updated their schedule and Advance are close to spudding the Buffalo-10 well.
Oil is up over $3 this morning as Opec+ meet later in the week to decide whether to cut back their monthly 400/- b/d increase. The discovery of the Omicron Covid variant has worried markets and may dent demand somewhat but Thanksgiving certainly showed plenty of excess. Today I mention an earthquake in Peru which has not affected PetroTal and another delay for the San Leon paperwork. Eco Atlantic report of a share purchase by CEO Gil Holzman and Zenith are continuing with activities in Africa.
Oil will be quiet for a couple of days as the USA celebrates Thanksgiving but it needs a break after all the SPR shenanigans. Serica announce first production from Columbus whilst President complete the farm-out of Paraguay. Trinity get approval for Galeota and I catch up with the SDX management.
Oil rallied and then some after the US invoked sales from the SPR handing advantage to Opec+ ahead of the Dec2 meeting. PetroTal has some local difficulties in Peru and UOG have an extension in Jamaica. Jadestone take another 10% of Lemang and President announce a bond issue. Block has announced that gas sales from well KRT-39, located in Block XIB, have commenced and I interview Ed Story, President and CEO of Pharos Energy.
Panic measures by the US to get the gasoline price down strike me as shutting the stable door, the oil price, down 8 bucks recently is nearly two dollars higher on the news...!Savannah have an updated Nigerian CPR as well as another positive financial and operations update, I note yesterdays RNS from Trinity.
Oil quiet after weakness recently put down to Covid and SPR releases. Kistos spud their Q11-B well and IOG have an update with only weeks until first gas. JOG have signed up almost the entire former board of Ithaca which is good and news from the GBA is promising. Pharos spud in Egypt, Zephyr has made another excellent acquisition, President update, again.