A flash blog today as I am away from my desk, oil fell yesterday as the dollar rose on inflation concerns. Challenger has updated on Saffron-2 which looks very exciting and VOG has announced details of a financing with Meridian Capital, again more later.
Oil is quiet, yesterday it was good inventory stats offset by more worries on inflation. Predator announce that the rig is on its way to Guercif, Eco has been further delayed to the Tullow problems, Hurricane have 3 announcements but shareholders should vote to save their equity. I interviewed Steve Bowler CEO og IGas where he talked me through geothermal and hydrogen. Zephyr are also on the move with more wells on stream and earning money.
Oil is comfortable as the second half demand is getting stronger and stronger with calls on Opec getting bigger. An excellent statement from Wentworth who are looking in very good nick indeed whilst Angus do a little housekeeping around the portfolio.
Oil is up again today as buyers realise just how big a week it is, Iranian elections upcoming, the Putin-Biden talks, the Fed meeting and the IEA volte face. Shell consider a sale of $10bn of Permian assets and Scirocco have made moves into the sustainable area while Challenger update on Saffron-2. Sound have done a very smart deal in Morocco and Helium One Global have started the drill bit spinning.
Oil is modestly holding its ground today and with a fair wind will be up on the week despite the attempts of two of the reporting agencies. Predator update on Morocco ahead of their drilling and I look at the LNG situation whilst Zephyr are joining the OTC where friendly Americans might like to buy the shares. Gulf Keystone update on growing production at Shaikan and Jadestone confirm their dividend.
Oil is quiet, the reporting agencies are out this week and the EIA were somewhat bearish in their comments. They don't generally take into account the politics of the situation and have based their views on supply and demand data. A good result from the Rhum R-3 well for Serica and Longboat announce a raise of £35m and two of three deals to get them started. Pharos update on Egypt and Vietnam but no comment yet on the farm-out whilst Hurricane update on production as they will until 5th July. Decklar has acquired the opportunity to participate in the Asaramatoru field in Nigeria, located in OML 11. I speak to Zephyr CEO, Colin Harrington who tells me about all things Paradox and their new environmental brief and Lekoil Ltd worry about their CEO...
The oil market is drifting somewhat in thin news but with all three agencies due to report this week more data is expected. Zephyr has announced a serious move to carbon neutrality and President finally has a farm-in partner to drill in Paraguay.
Oil is quiet today after a week when it yet again broke recent records after a positive response from the Opec+ meeting. IOG are making good progress with Phase 1 as the Blythe and Southwark gas platforms are installed. Zephyr's results merely prove quite what a ride it has been for shareholders as the stock has quadrupled this year so far. Finally Getech has finals in which the company spend time giving its plans and mission statement for the future.
Oil will be up strongly on the week and economic stats are pretty good. Challenger updates on the Saffron-2 well and Predator has raised £1.5m at 15p. VOG also announce positive news across the board and Hurricane walk away from the Aoka Mizu contract when it expires in the hope of getting a cheaper deal, if not that's it, all over...
Oil continues to rise but is flat this morning, not really surprising given where it is at. Angus have updated on Saltfleetby this morning with much going on. And Lekoil have parted company with CEO Olalekan Akinyanmi w.i.e.