Daily Blog Archive

Amerisur/Gulfsands, Ophir Energy,Cabot, Faroe

Amerisur and Gulfsands have completed their deal in PUT 14 which looks good from both sides. Ophir are in the last chance saloon in Equatorial Guinea, Cabot are in financial dire straits and I take a look at the latest Faroe defence document.

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Oil price, Victoria Oil & Gas And finally…

Oil remains weak and will likely do so until the New Year. Today sees Victoria Oil & Gas regaining their contract in Cameroon and now look in a very strong position heading into 2019.

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Oil price, Savannah, Range, Pantheon And finally…

Another bad day for oil as the Fed concerns leave markets across the board taking money off the table. Savannah Petroleum add serious value to their Seven Energy Transaction and Pantheon are buying into Alaska with a raise at 15.25p.

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Oil price, Faroe, President, Range, Wentworth And finally…

Oil rallied yesterday but fell sharply along with markets worldwide after the Fed raised rates again. Faroe has released its response to the DNO bid which ‘substantially undervalues this high growth, full cycle NS business’. Derisory. More good news from President who have closed out the new concessions at Puesto Prado and are getting to work on the assets. Range Resources say that they are paying the coupon on the convertible in shares to keep cash in the business. And from earlier in the week I look at Wentworth Resources who have exited Mozambique and may be one to watch for 2019 on the corporate front.

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Oil price, Reabold, Angus, IOG And finally…

Oil crashes again, Fed decision today, Reabold spud in California and Angus start tests at Brockham. And from yesterday, Board changes at IOG.

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Oil price, DGO, Block Energy And finally…

Oil will likely end up roughly all square on the week, down slightly today on poor Chinese economic data but better inventory data this week has helped a bit. DGO have posted a nice dividend which should please investors and Block Energy are doing well in Georgia.

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Oil price, Frontera, Solo, Echo, Reabold, RockRose And finally…

Oil rallied small yesterday mainly on Libya shortfall but is better this morning after a surprise draw of crude stocks of 10.2m reported after the close by the API, gasoline drew 2.5m barrels, also better than forecast. Frontera has signed a term sheet for a loan of up to $60m which will accelerate activity in Georgia substantially and Solo continues its tidy up with sale of its interest in PEDL 331 to UKOG. I also follow up from yesterday on Echo Energy and Reabold Resources.

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Oil price, Amerisur, Coro, Range, Aminex, Jadestone And finally…

An Opec+ agreement was completed but the early excitement soon faded and oil lost ground from Friday’s peaks and is back down a dollar this morning. Amerisur look like they have found another very decent discovery at Indico-1 which should be a big boost for them. Coro have done a smart deal with Petronas who have gifted them a huge database which could lead to a PSC in country. Range Resources’ CEO has resigned, a new one is probably going to be 2019 at this stage. Aminex have carried out work at Kiliwani North-1 and found gas at the surface. Finally I write on Jadestone for the first time after meeting the management last week, the stock looks very cheap.

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Oil price, President, Sound, Ophir, Premier, Tower And finally…

No news from Opec+ until later we think, uncertainty in the market just now. Another great well from President in Argentina and with one still drilling they will end the year on a great note. Sound have spudded TE-10 at Tendrara whilst Ophir have a good discovery and a dry hole of less importance. Premier are firing on all cylinders production wise and have also spudded the Mexico appraisal well whilst Tower now have a rig for its Cameroon well 2H 2019.

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Oil price, Rose Petroleum And finally…

WTI $52.89 -36c, Brent $61.56 -52c, Diff -$8.67 -16c, NG $4.47 +1c Oil price The day of the Opec+ meeting has arrived with seemingly little consensus but for a general agreement that production cuts are necessary. I suspect that this

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