Oil is better today but likely down to further escalation of events in the Middle East. I note the RNS from Amerisur who note that the FSP is drawing to a close and for bidders to open their cheque books. Trinity say that the Trinidad budget is a net small loser but has opened the discussion on SPT which should help. Jersey Oil & Gas had a highly successful Capital Markets Day, after which I interviewed CEO Andrew Benitz. And I mention RBD, ZEN, and BPC.
Oil was up on Friday and again today but economic and trade woes are still keeping it under pressure. Today I look at JOG who hire contractors for the GBA and Genel who announce a new COO from Tullow Oil. I also look at Bahamas Petroleum and see what Thursday’s announcement really means.
Excellent progress by PetroTal this morning with the latest well converted to an oil producer at above pre-drill estimates. Also good news for patient Bahamas shareholders as it looks like, subject to funding of course that a well could be drilled in 1H 2020.
Malcy talks about the following stocks: Eco Atlantic Oil & Gas (ECO), Range Resources (RRL), Bahamas Petroleum (BPC) and Hurricane Energy (HUR).
Oil will finish the week up after inventory draws and Opec production being lower than expected, down to 30.5m b/d in February apparently. Bahamas Petroleum has raised $2.54m at a deep discount to keep itself going and in the hope that it can find a farm-in partner.
Today Malcy talks about the following stocks: President Energy (PPC), Rock Rose Energy (RRE), Reabold Resources (RBD), United Oil & Gas (UOG), Hurricane Energy (HUR) and Bahamas Petroleum (BPC)
Oil looks like ending up on the week after Opec+ production continues to fall and risk is off right now. Bahamas Petroleum have had their licences renewed until December 2020 giving them more time to find a partner but with commitment to drill a well. Eco Atlantic are ranked 2nd in the TSX Venture 50 and I write up Serica after a meeting with CEO Mitch Flegg.
Malcy talks about the following stocks: Hurricane Energy (HUR), Coro Energy (CORO), Eco Atlantic Oil & Gas (ECO), Fronterra Resources (FRR), SDX Energy (SDX), Far Ltd (FAR.au), Sound Energy (SOU), Amerisur Resources (AMER), Bahamas Petroleum (BPC) and Faroe Petroleum (FPM)
The oil price ends the week on a high, the first for a while. I talk about the Premier Oil meeting and the positive outlook for Sea Lion with Rockhopper, I also discuss Petrofac selling Greater Stella to Ithaca. And disappointing news from Bahamas Petroleum whose suitor has left them at the altar.
With the oil price all over the place I look at the Opec report, I also look at another excellent discovery from Savannah in Niger and write up my chat with Dr Steve Staley of Upland Resources. I also chatted to Andrew Austin Chairman of RockRose and met with Eytan Uliel of Bahamas Petroleum. Plus two links to this week’s interviews.
Tagged with: Aminex
, Bahamas Petroleum
, Genel Energy
, Hurricane Energy
, Jersey Oil & Gas.
, President Energy
, Reabold Resources
, Rockhopper Exploration
, RockRose Energy
, Savannah Petroleum
, SDX Energy
, Sound Energy
, Upland Resources
, Victoria Oil & Gas