Oil price,BP/Shell, Angus, Hunting

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.

2020-04-03T12:25:32+01:003 April 2020|Categories: Daily Blog|Tags: , , , , |3 Comments

Oil price, BP, Sound, Echo, Eco, Wentworth

Oil has been very much unchanged over the quarter end and contract rollover and is so today, a lot of talk about who has spoken to MbS... BP have announced 25% capex cuts, in line with others whilst Sound Energy are still discussing their GSA in Morocco. Echo Energy has been restructuring its debt with a number of successes already agreed and Eco Atlantic has pared back costs and remains very well placed when drilling recommences. Finally, I spoke to Wentworth Resources this week and I am convinced that with their very strong model and solid finances they are as good as any in the sector.