Oil recovered yesterday after initially falling on an API report that showed a build in stocks, the subsequent EIA report showed a draw of 1.1m barrels and oil recovered to be roughly even on the day. Echo has announced that its rig is on the move and should be ready to drill the CLix-1001 well by the end of December. DGO has announced a new NED as well as announcing that the 2Q divvi will be paid on 20th December and a sterling equivalent of 2.65p a share. PetroTal has also appointed two new NED's after recently the Chairman of the Board moved to the non board position of CFO. And Touchstone announce that the Coho-1 well has produced well making it a red letter month for the company.
All was well in the oil market until rumours of a deal between the US and Iran over their missile programme knocked two dollars off the price in minutes. When it turned out that Iran insisted that the US don't sell any more arms to Saudi Arabia the joke wore a bit thin. Today I look at another excellent update from Premier where all is soon to be cooking on Tolmount gas. The Anglo African funding goes ahead, what was the alternative and Reabold announce completion of the Parta Exploration licence farm-in.
After the Lord Mayors show, with the Opec+ finally announcing the continuation of production cuts the market has moved on and now worries more about falling growth in manufacturing around the world. I write up Columbus Energy after a new presentation by CEO Leo Koot at last weeks AGM and the autumn looks highly promising. AAOG has raised money again with a few bells and whistles but if it goes ok they will have £8.25m to spend on recovering oil from the Djeno. Finally Infrastrata announce that they still in equity and debt discussions for funding and today is the last day of the auction for Gulfsands shares for another quarter.
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