Oil firm as the Saudis hit back at the Houthi rebels. SDX reduce guidance and lose CEO Paul Welch, at Falcon they raise a bit to top up for this year and next year existing carry. All in line at Cairn with no change in guidance or plans in development and exploration. Earlier this week Wentworth updated and all is going well, yesterday Block Energy raised £12m, a solid achievement given how fast they have moved and at Egdon they raised £2.17m. Empyrean has seen gas clouds at Topaz and Jade which CNOOC say is good news and Lisa Mitchell moves from Lekoil to San Leon…
Oil is drifting ahead of the holiday weekend but fundamentals remain positive. I spoke to Paul Haywood this morning about the ongoing great news from Block, more to come I suspect and Jadestone has figures but are meaningless.
Today Malcy talks about the following stocks: Chariot Oil & Gas (CHAR), Jersey Oil & Gas (JOG), Amerisur Resources (AMER), Hurricane Energy (HUR), Block Energy (BLOE), Diversified Gas & Oil (DGOC), Gulf Keystone Petroleum (GKP) and Genel Energy (GENL).
Oil stays strong in the new quarter which most agencies say will be tighter than the last in which oil rose by over 30%. Block Energy has a great result in Georgia as does Reabold at Monroe Swell. Anglo African have recovered 43° API Djeno oil to the surface at TLP-103c which must help confidence for flowing in due course and I comment on a meeting with the Solo Oil management and the GKP Capital Markets event.
Today Malcolm discusses Sound Energy (SOU), SDX Energy (SDX), Union Jack Oil (UJO), Block Energy (BLOE) and Fronterra Resources (FRR)
Oil fell yesterday primarily as worries about global GDP growth emerged from Dav-oh. IGas has announced the spudding of the long awaited Springs Road well and Block Energy has spudded its side-track in Georgia. Zenith is finally on the move with its kit to Azerbaijan and write up a meeting with Mike Buck, CEO of Petro Matad.
Oil will likely end up roughly all square on the week, down slightly today on poor Chinese economic data but better inventory data this week has helped a bit. DGO have posted a nice dividend which should please investors and Block Energy are doing well in Georgia.
WTI $66.36 +26c, Brent $75.88 -58c, Diff -$9.52 -84c, NG $2.94 -1c Oil price Well, you can as they used to say, you pays your money and takes your choice with regard to what might happen in the oil market…
Malcy talks about the following stocks: Echo Energy #ECHO, Sound Energy #SOU, Savannah Petroleum #SAVP, President Energy #PPC, Amerisur Resources #AMER, Hurricane Energy #HUR, Empyrean Energy #EME, Frontera Resources #FRR, Zenith Energy #ZEN, Rose Petroleum #ROSE and Block Energy #BLOE
Tagged with: Amerisur Resources
, Block Energy
, Echo Energy
, Empyrean Energy
, Frontera Resources
, Hurricane Energy
, President Energy
, Rose Petroleum
, Savannah Petroleum
, Sound Energy
, Zenith Energy
WTI $65.74 -21c, Brent $76.46 -86c, Diff -$10.72 -65c, NG $2.89 -4c Oil price Oil was down modestly on Friday and pushed it into negative territory for the week, WTI lost just 7c and Brent 33c after the usual ups…