Oil continues to firm up, yesterday it was Barkindo saying that Opec production cuts may not need to be that deep as the market for 2020 looks brighter than expected. The API built again, by 4.3m barrels which has knocked crude by around 35c this morning. A very positive statement from Aminex which shows real progress being made in Tanzania.
Oil faded yesterday after a good start and has drifted a touch this morning. Aminex has a new NED in Robert Ambrose, a highly respected oilman. Yesterday I interviewed Andrew Austin, Executive Chairman of RockRose Energy which was important after the shares returned from suspension recently. We talked about the Marathon deal, other likely M&A opportunities and shareholder returns amongst many other things in a wide-ranging discussion. On Tuesday I spoke to Edward Bowen, CEO of currently unquoted EDR which has had an outstanding first year of trading.
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.
Another see-saw ride for oil which is better this morning after a good day yesterday. Aminex and Solo have released an update about Ruvuma and Kiliwani North which is still taking its time and Predator has interims but a really exciting 2H
The oil price is a game of two halves, yesterday inventory levels dropped the price substantially, this morning two oil tankers have been attacked in the Gulf of Oman and oil is up 4%. Today I talk about Aminex after yesterday's AGM where some home truths were told by all sides, its still a long haul but there is light at the end of the tunnel. I look at yesterday's numbers from Enteq and what Range Resources are doing in Georgia as well as looking at another industry veteran joining Talon Petroleum.
Aminex are fighting hard to get back into favour and the current plan looks most interesting. Genel has let its Bina Bali and eventually it’s Miran licences-will also lapse and will be renegotiated on updated and agreeable terms. Finally Predator is firing on all cylinders in Morocco, Trinidad and in Ireland.
The updated Bucket List, widely differing performances but I remain confident about the picks in the main.
Malcy talks about the following stocks: Coro Energy (CORO), Solo Oil & Gas (SOLO), Aminex (AEX), Genel Energy (GENL), SDX Energy (SDX), Savannah Petroleum (SAVP), Amerisur Resources (AMER), President Energy ...
With oil prices under pressure after news that the US/Sino trade talks at senior level won't happen until after the March 1st deadline and that Libya may come back the price is flat today. Aminex and Zenith have both raised modest amounts of money. SDX has acquired two more potentially very valuable blocks in the Gharb Basin and Genel reported good production from Tawke. Finally Utd Oil & Gas and Prospex reported a positive CPR from Italy.
Oil prices drifted off but remains pretty solid, Opec+ production is falling. The Wressle partners are back submitting yet another planning appeal although what N Lincs council will do is anyone's guess. Savannah Petroleum has signed the Seven Energy Implementation agreement, not long now before completion...Amerisur spuds the second well off the Indico pad and watch an incredible interview with John Wardle on the link today. Genel also proving that there is life at Taq Taq with TT-32 and the horizontal TT-20z due to complete this month. Finally good news at Aminex where the excellent John Bell takes over as Chairman.