Oil continues to fall on the back of worldwide recessionary worries which have boosted the dollar. I spoke to Angus Energy CEO George Lucan where things are looking up and the link is here. Longboat has had figures today and I look at Petro Matad from last week.
Oil gained but gave back most of the gains at the end of the day. Union Jack and Reabold both flag the West Newton CPR due next week and Rockhopper completes the Navitas farm-in. Longboat look like they might have a discovery at Oswig but need a side-track and DST to confirm preliminary numbers that are better than pre-drill estimates. Finally, IGas and Egdon have both written thank you letters to that nice Mr Rees-Mogg for his relaxation of shale regulations.
Oil is sticking at around $90 for Brent, the Fed upped by 75bp and inventory stats were mixed. Jersey Oil & Gas looks in a very strong position with suitors for GBA of a high quality and quantity. Longboat are preparing for Velocette and Getech have upped the ante at Shoreham.
Oil fell yesterday but Mr Putin's words this morning have put over 2 bucks on the price. The Fed rates decision is at 7pm our time. Zephyr have had a good year showing in Interim results and post period deal flow is impressive. Prospex are buoyed by Po Valley news and SDX are ringing the changes at board level as Aleph get the gloves out.
Oil rose a touch on Friday but was still down on the week, the Fed meeting that starts today will increase rates but by how much? Today San Leon indicate more production from Decklar and Jadestone have Interims but until Montara is back the jury will be out. Predator say how well Mag Mell is being received and also have a detailed interim statement. Trinity production fell in H1 but with more drilling 2H should be better and Providence Resources are to become Barryroe Offshore Energy, well I never.
Oil fell sharply yesterday as mixed US data led commentators to suggest as much as 125 basis points on the rate ahead of the Fed meeting next week. Today Coro and Empyrean both announce interims. IGas shares continue to fall, the gang of three who fired Steve Bowler have a great deal to answer for...
Oil rallied further on disputes and a mixed inventory report. IGas chose interim day to sack CEO Steve Bowler and Sound yesterday announced further legal grief in Morocco. With UOG spudding in Egypt and Reabold getting another market knee in the groin Longboat has added to the mainly miserable day.
On a day that inflation send markets tumbling oil fell but was off the lows. Today Zephyr have an exciting deal that increases the value of the Paradox Basin and Chariot have interim results. Serica have operational problems at North Eigg and Pharos are looking tidy and about to restart paying dividends. Reabold have done a cracking deal on Corallian but go unrewarded in the market and Helium One are now drilling Q1 2023.
Oil rose, mainly on the weaker greenback. Union Jack publish an exciting CPR on Wressle and Deltic raise £15m via placing and an Open Offer on top ahead of the Pensacola spud in the autumn and Jadestone are shutting-in Montara while it is being repaired.
Oil was flat last week and is now finely balanced but Opec+ must still be in the driving seat. On Friday Angus announced better than expected production from Saltfleetby and today COPL have a material increase in reserves and i3 have good figures.