Touchstone raises £9m, Reabold/UJO slightly behind at West Newton, Falcon has more success in the NT and BPC take on £8m more debt.
Happy Thanksgiving and whilst today and Black Friday means very little trading in oil markets until Monday it is a time of the year fraught with risk especially with the Opec+ meeting next week. I welcome Longboat Energy to the market with its former Faroe management and talk about Jadestone, also with a very high quality team. With Bahamas Petroleum preparing for 2020 drilling they are starting the necessary steps for local investors and the environmental needs.
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.
VOX Markets podcast: Eco Atlantic Oil & Gas, Range Resources, Bahamas Petroleum and Hurricane Energy
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.
VOX Markets podcast: President Energy, Rock Rose Energy, Reabold Resources, United Oil & Gas, Hurricane Energy and Bahamas Petroleum
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.
VOX markets podcast: Malcy on Hurricane Energy, Coro Energy, Eco Atlantic Oil & Gas, Fronterra Resources, SDX Energy, Far Ltd, Sound Energy, Amerisur Resources, Bahamas Petroleum and Faroe Petroleum
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), ...