Oil continues to rise despite grotty economics from China. Ineos is talking about $2bn of investment in green hydrogen and IGas, also involved in hydrogen has joined with Iona for solar farms in the UK. SDX has started its latest exploration campaign with the MSD-21 well in Egypt.
Oil still rises, the IEA are no different to the others, it will be another good week. Zephyr announce that it is ready for the next phase at the Paradox Basin and Kosmos got the offering away at a very decent premium. Trinity are in-line with expectations and so are Gran Tierra.
Oil continues to rise, today the Opec and EIA reports show increased demand and reduced supplies which should have been expected all year. Russia have been hosting an Energy week at which both Putin and Novak made positive comments about the price of oil, $100, and the availability of gas when the Nordstream 2 pipeline comes in. Kosmos has bought stakes in Jubilee and TEN in Kenya from Oxy and i feature an interview with Andrew Austin at Kistos. Yesterday saw another excellent update from PetroTal who are at last on the move. I also look at the West Newton result and its implications for Union Jack Oil and Reabold Resources.
Oil remains perky, IOG have a technical on the rig when it arrived at Southwark. The good news is that with Blythe and Elgood completed first gas is still expected in Q4 2021. And President has a big round up and all parts of the business are going well.
Oil remains strong and unlikely to change much under current circumstances. Orcadian has done a smart farm-out deal on the Carra prospect and this management team are worth a look at. Longboat announce that the Rødhette exploration well is a discovery but 'at the lower end of pre-drill expectations'. Getech continue to move fast and have made a meaningful signing whilst UOG update on production.
Oil remains firm after the Opec+ meeting maintained the existing pact and will only put 400/- b/d onto the market. PetroTal report that initial production rate of over 7,700 barrels of oil per day for well BN-8H which is excellent. Echo has updated from its Santa Cruz Sur assets, and GKP has received $30.1m from the KRG. Finally Empyrean has announced that it has awarded a well site survey contract to COSL, no surprise there then and Lamprell is raising more money...
First day of the month and quarter and with an Opec+ on Monday there are no prizes for bravery in oil markets. Union Jack and Reabold are disappointed about the planning decision at West Newton but an appeal is probably likely. Scirocco completes its acquisition Echo has restructured its loan. San Leon note production news from Decklar and I cover results from the 15 sets yesterday including President and Getech as well as results from Zephyr with an interview with CEO Colin Harrington and from Savannah and an interview with CEO Andrew Knott.
The last day over the month and quarter has seen some window dressing as November Brent expires tonight. With companies competing to be the most in the last day of the reporting season Savannah, San Leon, Scirocco get in today along with an interview with Helge Hammer of Longboat. That leaves just the 16 to fit in tomorrow...why do they do it and how many will get in, and its a Friday remember...
Oil reached the top of the trading range and boiled over as is its wont. Today I look at Predator after the webcast yesterday and IOG have good news from the Blythe well and first gas on the horizon and at these prices...PetroTal have also had a really positive update from the Bretana field and are looking set very fair. Hurricane have updated but I think maybe should have shouted more from the treetops and yesterday Serica blew away the targets and are looking to have the Midas touch. Union Jack has added a new presentation and video on the website.
Oil powers forward after another good week and is now at the top of the trading range as we come to the end of the quarter. CEG has published detailed finals ahead of next months AGM and Chariot has made a move in green hydrogen in Mauritania. Finally Prospex assure the market that its Tesorillo exploration permit in Spain still goes ahead.