Oil price, Scirocco, Eco Atlantic, SDX, Longboat, Prospex, Gulfsands. And finally…

Oil rose last week but July was another down month, demand falling as the recession arrives is deemed responsible. Today Scirocco update on Tanzania, probably more interesting to Aminex and Wentworth...Eco Atlantic have a big update but its a very exciting outlook, whilst Longboat spud Oswig and Prospex update on El Romeral. Finally I had the opportunity to interview John Bell of Gulfsands last week and the detail is in the blog today.

Oil price, Aminex, Scirocco, Zephyr. And finally…

Oil will be flat on the week after a reasonable day yesterday and a modest rise so far today. Still no signs of a stimulus but maybe its a Nov 4th rally...Aminex has announced the completion of the Ruvuma farm-out with all that entails and Scirocco have noted it with all that it means to them. Finally from yesterday further good news for Zephyr as the get the first Government payment for the Paradox well and have hired a very experienced drilling manager.

2020-10-23T12:55:04+01:0023 October 2020|Categories: Daily Blog|Tags: , , |0 Comments

Oil price, Sound, Solo, Aminex, Pantheon.

Oil fell yesterday on well known supply problems, Libya, Norway and Delta to name but three. Today its a little better but I'm not sure the inventory numbers will help much this week unless they are really good. Sound has had its Sidi Moktar permits extended by 24 months without any changes to its committed work programme. Aminex has announced that the Tanzanian Government has given approval for the farm-out and whilst the company are sensibly waiting for completion before commenting. It's also good news for Solo as they can continue to pursue their gas strategy. Finally another huge estimate from Pantheon, if this lot comes in it will burn down many barns...

2020-10-13T16:36:43+01:0013 October 2020|Categories: Daily Blog|Tags: , , , |8 Comments

Oil price, Bahamas, PetroTal, Predator, Aminex, Echo.

Oil fell as Libya started to up production and Covid cases increased worldwide. The API stats were better than expected with a small crude draw and a build in gasoline and draw in distillates. Another RNS from BPC shows that much is going on, PetroTal have restarted from the Bretana Field and Predator report interims. Aminex are clinging on in Tanzania with a last extension of the longstop date and Echo have interims today. VOG and others yet to come...

2020-09-30T11:21:47+01:0030 September 2020|Categories: Daily Blog|Tags: , , , , |4 Comments

Oil price, Aminex, Rockhopper, President

The oil price is up again as backwardation rears its pretty head...Aminex takes a huge step towards Farm-out in Tanzania with the Tax Clearance Certificate headed to the Ministry. Rockhopper have made significant cuts in the corporate overheads of c.30% on 2019 led by executive directors pay cuts. And in Argentina the Government has fixed the price that refiners pay producers for crude oil at $45 which with decent demand from the ending of the virus lock-down should be beneficial.

2020-05-19T12:51:56+01:0019 May 2020|Categories: Daily Blog|Tags: , , |0 Comments