Oil was up last week and stronger again today, Opec+ didn't change the deal and the EU seaborne oil and the G7, EU and Australian price cap came in at $60. Wentworth has announced an agreed takeover by Maurel & Prom and Angus are working hard at Saltfleetby. At Serica Eigg is non-commercial but trading remains strong and Petro Matad still have no luck at XX but are hopefully drilling Block V next year
Angus yesterday updated on Saltfleetby where progress is being made at the SF07V side track and it has progressed to the top of the target reservoir itself. At UOG a disappointing production number from ASH-4 has led to a trimming of production guidance.
Oil rose after better than expected US GDP figures. Union Jack start the buy-back, Angus update on operations, UOG show good results from ASH-4 and IGas complain about the Government.
Oil is falling on the demand crisis with agencies cutting numbers but it makes sense to do what Opec+ did. A good Q3 update from PetroTal and whilst production was down a bit the outlook is very positive. Arrow continue to deliver the goods and will get better. Scirocco report good news from its EAG investment and Block slightly disappoints. Yesterday Angus upped the game some more with further good flow rates and looks set fair to me.
Oil is quiet ahead of the month and quarter end and ahead of the Opec+ meeting next week. Many results today including Savannah which were good IOG updated on production and Angus are moving ahead fast. Scirocco also have predictable figures as do San Leon.
Oil continues to fall on the back of worldwide recessionary worries which have boosted the dollar. I spoke to Angus Energy CEO George Lucan where things are looking up and the link is here. Longboat has had figures today and I look at Petro Matad from last week.
George Lucan, CEO of Angus Energy, joins Malcolm in a field today to discuss the latest news from the company.
Oil was flat last week and is now finely balanced but Opec+ must still be in the driving seat. On Friday Angus announced better than expected production from Saltfleetby and today COPL have a material increase in reserves and i3 have good figures.
Oil fell on China Covid panics and with Opec+ on Monday, when markets are shut for Labor Day might move markets somewhat. Reuters says that Shell Chief BvB is to leave at the end of this year which is certainly possible. Genel have announced KRG payments and Angus have two very interesting Director appointments.
Oil fell as bad economic news and no cessation of output from Iraq worried markets. Union Jack have paved the way for a payout, Scirocco are almost home and dry as are Angus. Coro move one step forwards in Vietnam and Echo get breathing space for putting results out.