Oil had a big rally, a shortage is slowly appearing around the world particularly in products. An AGM update from Genel which is positive and a detailed update by Predator. Finally results from Touchstone show how cheap that stock is.
Oil fell as the EU deliberations on Russian sanctions took longer and longer. Also Covid in China showed signs of hitting Q1 oil demand. Genel has announced that the Sarta-5 step-out well didn't find find commercial oil but Sarta-6 goes ahead. San Leon announced exciting developments from Decklar in Nigeria and Lamprell say that they have three jack-up refurbs in the pipeline.
Oil is up again today, over $110 for WTI and $113 for Brent, the way things are going it will be one way traffic for a while. Today Petro Matad say how they are struggling with Chinese Covid measure but will be OK. Petrofac have won a good contract in the Gulf of Mexico and will be a good investment from here. Also I note that CEAG have an exciting new product in the market.
Oil fell yesterday on China problems but is up today as the EU start the process of stopping Russian oil and products. Reabold has walked away from Victory as Corallian is bid for, seemingly preferring to spend on West Newton, I don't blame them. Another cracking set of numbers from Gran Tierra across the board and SDX have tied in of the SD-5X Warda well whilst Empyrean are going for Topaz.
Oil is relatively strong ahead of the Opec meeting on Thursday. IOG have given a detailed update and SDX have a good result at South Disouq. Finally Trinity have 'paused' the Galeota farm-down process which is a disappointment.
A good day for oil as the EU talk about banning Russian hydrocarbons. San Leon update on Nigeria things are on the move, Zephyr CEO talks to me about the CPR, and i look at an interview with John Bell of Gulfsands. Finally Far update the market.
Not much going on on the oil front but gas is all over the place. An update and results from JOG who are in very good shape at the GBA. Figures and an update from PetroTal which is also in very good shape right now. Afentra reveal that they have bought interests with Sonangol which looks a cracker to me. Finally Hurricane report and looks cheap as chips. And Empyrean regrettably found out that jade was dry.