Oil is quiet again, little to change that at the moment, the virus is probably keeping things at these levels. Reabold
Malcolm Graham-Wood talks with George Lucan, Managing Director of Angus Energy, who have recently announced a deal with the National Grid.
The oil price crashed yesterday as worries about economies and new virus cases panicked investors, things are better today as Chinese oil demand is confirmed and they have clearly been buying for SPR. I look at PetroTal where they have done a deal on potential liabilities and raised $18m. For Bahamas Petroleum they have decided to expand and are merging with Columbus Energy Resources. Reabold had results yesterday but all the news is since those numbers and RBD are very well placed. Finally Angus Energy have succeeded with the planners at Saltfleetby.
Oil, or more specifically WTI is weak, down another 25% today ahead of rollover to the June contract as even at Cushing the storage tanks are almost full. Angus Energy issues a note today, good under the current circumstances, better when you are writing Riverfort out of your balance sheet. Coro's results were no surprise, recent changes mean that it may be a while before it expands much but Duyung is still a fantastic asset. Trinity continues to cut costs, after this latest bout operating break-even should fall to $20.50/b and Lamprell who announced last week are retrenching into the Hamriyah yard.
Oil bounces big time, both yesterday and today as President Trump talks to MbS who possibly along with Putin may cut 10-15m b/d, Opec+ announce a virtual meeting on Monday morning, but will Putin dial-in, Zoom or MS Teams it? I interviewed Angus Energy MD, George Lucan yesterday and we had an interesting chat about what is an interesting play. Finally Hunting swap their 6c final with a 3c second interim after yesterday Wood Group withdrew its announced divvi altogether.
Malcy talks to George Lucan, CEO of Angus Energy about how the firm is unaffected by Covid-19, their production rates and which assets they currently hold, and how these assets ...
Good figures from Premier and update from Angus, very much in haste from US.
Oil continues to climb, $66.54 is better that the $52 bucks we started the year at. Hurricane has appointed Beverley Smith as a NED and Angus has submitted its FDP to the OGA for Saltfleetby. A very happy Christmas and a prosperous new year to you all.
Oil remains firm ahead of the Opec+ meeting on Thursday, much still can happen before then...I look at Coro and Zenith where the former has sold its Italian assets to the latter, also Coro is looking for a further extension for the Bulu agreement. Range Resources is now Star Phoenix Group with ticker STA and I catch up with Angus Energy and talk about Saltfleetby.
The oil price had a bad day yesterday but has perked up a bit this morning, inventory stats are now key. VOG are showing very high levels of production after the renewal of the ENEO contract and are not raising money 'yet'. Ophir seems to have given up the ghost talking very seriously at 55p by the looks of it whilst Jadestone are oozing confidence about Montara. Over at Angus they are again changing the guard in the boardroom and at advisor level, who knows what's next?