Oil has bounced today but is still in the recessionary doldrums. Today I look at DEC who have won a prestigious ESG award and Challenger who have repaid the bridge loan and are now debt free.Also I look at Southern Energy who have completed their recent raise and Afentra where NED Gavin Wilson has bought shares in the market. Finally I add an independent piece of research on Hunting.
After yesterday's bath oil is a bit better today. New from Genel about Tawke production and Afentra get approval from the Government of Angola for the acquisition from Sonangol. Finally, UOG update on Jamaica and Egypt.
Oil will end up on the week, no surprise there then and we wait to see how Israel unfolds over the weekend. Today I assess the state of the oil market, take a look at the exciting M&A situation in US oil stocks and round up from Africa Oil Week. I also watched the Sound Energy video which shows considerable progress and have repeated the Angus interview with Richard Herbert from earlier in the week.
Touchstone hit first gas production targets at Cascadura, DEC have had a re-shuffle of the executive and NED board and Arrow have brought on CN-3 as expected. Afentra are back from suspension with the admission document out today and Orcadian, fingers crossed have farmed-out most of the Pilot project.
Oil is better again today in what is a quiet market, little going on and even tomorrow's US CPI number probably won't draw the Fed into a rise this month. Today Afentra have results which are of no interest, deals in Afentra are of interest and all is good there. Reabold up their %age in LNEnergy and Ithaca confirm taking Shell's 30% of Cambo. With Coro and Empyrean being boosted by a GSA at Mako both companies can now kick on and get some finance...And I revisit Arrow in case my interview with CEO Marshall Abbott had been missed.
Oil drifted yesterday on Juneteenth Day and has risen slightly today. PetroTal report the blockade is over and production is good while Afentra havent quite completed with Sonangol yet. Petro Matad results as expected and from yesterday Kistos and Arrow where I have a fascinating interview with Marshall Abbott.
Oil is mixed but it's all about the meeting at The White House today between Sleepy Joe and House Leaders. Arrow yesterday announced another highly successful well in Colombia and today Zephyr update on production and the Paradox Basin. PetroTal have announced details of dividend and buy-back arrangements which should be huge for shareholders and Tower have raised money again and Afentra have unimportant figures. As for Prospex it looked like good news but the market is unforgiving.
Oil fell then rose on a day when all sorts of influences were exerted on the market. Union Jack have another $15m of revenue at Wressle and Afentra complete the Angola deal. And Harbour seem to be a bit more chipper.
Oil drifted as the greenback rose, Chinese data though is picking up...Today IOG have some operational problems, nothing that hasnt been seen before though. Southern Energy release full year results, nothing to add to recent updates but holding back some production until prices rise again. Angus gave a brief update but all appears well at Saltfleetby whilst Afentra are looking good in Angola with things on the move there. Finally Hurricane updated, Prax still waiting there and UOG confirmed yesterday about extending their own long-stop date.
A quarterly update of the Bucket List to reflect recent performance as well as a year/year check.