Oil was weaker yesterday ahead of todays opec meeting expect no change in policy. I comment on Scirocco after the meeting and the VOG predicament. Also a raise from Orcadian and a cash alternative for SDX holders.
Another rally from oil after the comments about Opec+ production crept into the market. At Union Jack the capital reduction update paves the way for a dividend. Predator have FY 2021 figures and Angus are very close to first gas at Saltfleetby. I speak to Marshall Abbott, CEO of Arrow Energy Corp which is highly illuminating and Trinity starts a six well drilling programme and SDX spud MSD-23.
Oil fell slightly on Chinese Covid cases whilst Genel CEO Bill Higgs has stepped down after the AGM vote. Angus Energy confirm that first gas is imminent and Empyrean are ready raise money and drill the Topaz prospect.
Malcolm is joined by George Lucan, Managing Director of Angus Energy. It's been a busy time for the company, with the acquisition of the remaining portion of the Saltfleetby Project. ...
Oil is actually fairly quiet at the moment, it won't last... Today Angus has announced that it is buying in the 49% of Saltfleetby that it doesnt already own in a smart deal. Coro update the market, Trinity have full year results and Helium One Global are off drilling again...
Flash blog on Challenger update, Angus progress and GKP payments.
Oil was down last week and is now off another 3 bucks today. Ineos boss Sir Jim Ratcliffe make a very good case for fraccing in the Sunday Telegraph. DEC have published their sustainability report and Genel detail KRG sales and payments. Angus have done a small raise today, wise given the bidding timetable has overrun a bit. Afentra updates on Sonangol and Coro has signed up on a new deal in Vietnam. Longboat have spudded Cambozola it's one of the biggest gas prospects around. Lamprell, I just don't know what is going on, it seems like good progress in wind but oil & gas going well is up for sale. UOG has confirmed its sale in Italy to Prospex and is now well financed but needs to spend the money.
Oil remains weak as the EU still won't ban hydrocarbons and India and China still won't stop buying them from Russia. Sound has walked away from the Angus auction but two buyers remain interested in the Saltfleetby asset. Scirocco note the AEX RNS on Tanzania where action continues ahead of drilling the crucial CH-1 well in November this year. Zephyr go from strength to strength as they receive the first monthly cheque from the Williston Basin assets bought in February but now delivering meaningful cash to spend on the Paradox. Finally SDX has spudded the MSD-20 infill well on the Meseda field, I still think that there is corporate activity behind the scenes here.
Oil fell over $15 yesterday as some compromises seem to be coming through about NATO membership, this morning after the press conference Russia rained on any parade and oil is up $6.... Angus Energy announces today progress at Saltfleetby and the continuation of the FSP.
Oil remains strong, Chariot are to deliver a solar project in South Africa and Angus completes a placing to remain strong. Far have seen Meridian turning down the A45c bid, the price is already at A65c.