A cracking discovery from Hurricane this morning as the Lincoln Crystal well comes in strongly. Amerisur have interim results which show strong production and the resulting cash flow puts them in a strong position as the vultures gather in Bogotá. Coro also has interims but the progress in Asia is still looking most exciting with drilling imminent at the Mako field. DGO announce a proposed move to the premium segment of the Main Market with all the governance etc that brings and IGas also have good figures but the market is focusing on Spings Rosd.
Today is the interim Bucket List with a look at performance since February, the good the bad and the ugly and with two stocks dropping out to be replaced in the list.
Tagged with: Amerisur Resources
, Chariot Oil & Gas
, Echo Energy
, Eco Atlantic Oil & Gas
, Far Limited
, Genel Energy
, Hurricane Energy
, Jersey Oil & Gas.
, President Energy
, Reabold Resources
, Rockhopper Exploration
, RockRose Energy
, Savannah Petroleum
, SDX Energy
, Serica Energy
, Sound Energy
, Trinity Exploration & Production
, Victoria Oil & Gas
It has been a bad week for crude oil but yesterday, and so far today, oil is rallying from the lows created by trade wars and grim EIA inventory stats. Amerisur seem to be moving fast with the FSP with a number of companies signed up and Providence and Lansdowne have the approval to get underway at Barryroe but so far no dosh to do it with. I catch up on Touchstone who spudded on the key Ortoire block and Block who are preparing for 38Z but all people want to know is the production rate on 16aZ…
Last week oil prices edged up only by a few cents and the battle remains between Geo-politics and stuttering GDP numbers. Today, Echo Energy announce further progress in seismic data processing in Argentina with drilling still planned for 4Q of this year. Amerisur have a regular update on operations with the Sol-1 well confirmed as a ‘modest discovery’ and Indico-2 next to be drilled. Production remains in line with guidance. VOG confirm last weeks’ rumours of a huge deal selling gas to Aksa Energy and Reabold have exciting wells to drill in west Brentwood. Eco Atlantic are cheered by Qatar Petroleum farming into Guyana and Tullow asking for an extension to the Jethro drilling programme. Good news also for the Wressle oil field participants..
Oil rallies sharply this morning after a bad week but one that ended with Iran seizing a British ship. JOG have been awarded a ‘transformational’ deal by securing the Greater Buchan area close to Verbier. Amerisur reveal that Maurel & Prom are the bidders but at 17p is far too low, Providence and Lansdowne yet again extend the deal for Barryroe as the money from APEC still hasn’t arrived and my sources including Jamie Nimmo suggest that VOG is about to announce a whopping contract…
Oil prices fell again yesterday as risk-off is the order of the day. Amerisur has announced that it is having a strategic review after receipt of interest in all or part of its portfolio. Petro Matad has spudded the Heron well which is either an exploration or an appraisal well depending on your stance. Finally Pantheon has raised £10.7m at 18p for work on their Alaskan assets.
As always oil is playing a roller coaster game, caught between politics and fundamentals. This morning the price has eased by around 50 cents. Today I look at Amerisur who have announced a success at Sol-1 and a disposal of 50% of PUT-8 to Occidental which makes a lot of sense. Also Reabold and Union Jack have had a huge discovery at West Newton which could be not just gas but a decent oil find as well, transformational, I should say so…
Oil had a down day but is firmly up as I write, trade wars with China was the reason yesterday but fundamentals remain strong. An update from Amerisur is very positive again with approval of the Oxy deal which will push forward drilling on key blocks in the portfolio. Production is good and CPO-5 remains on target. I talk to Far Limited which is in an exciting place with activity in Senegal upcoming and has a busy few months ahead, elsewhere Infrastrata has announced Vitol as its trading partner.
Today Malcy discusses Echo Energy (ECHO), Rose Petroleum (ROSE), Pantheon Resources (PANR), Jersey Oil & Gas (JOG), Reabold Resources (RBD), Amerisur Resources (AMER), SDX Energy (SDX), Falcon Oil & Gas (FOG), Block Energy (BLOE) and Egdon Resources (EDR)
Oil fell sharply yesterday ending two dollars off the peak after the comments from China, probably no time to panic though. Another good statement from Amerisur who have production up, success in Platanillo and have just spudded Sol-1. IGas AGM statement is also very positive and the shares have fallen way too far, wait for Springs Road and further gas demand data. Finally Touchstone has announced good 1Q figures but its all about Ortoire in this quarter.