Oil price, Chariot, Deltic, Cairn. And finally…

Oil is up another $1.60 or so today and holding above key support levels, particularly $42 from WTI. Chariot say that CEO Larry Bottomley has stepped down with NED and founder Adonis Pouroulis taking over as Acting CEO. Deltic have announced that largest shareholder IPGL with 16.8% has backed them in the 'possible' bid battle with Reabold Resources. And Cairn are staying positive about winning their arbitration case in India with a decision expected 'after the end of the summer' but which summer?

2020-07-21T15:24:19+01:0021 July 2020|Categories: Daily Blog|Tags: , , |0 Comments

Oil price, Far, SDX. And finally…

Oil continues its sporting run, April 20th with its negative oil price seems like a long time passed. The July WTI expires with both it and the new August contract over $40. Despite newspaper rumours Woodside reiterates that the Sangomar Field Development Phase 1 remains on track for 2023 'in line with previous guidance' so Far and Cairn are both helped by this news. SDX has another update and in Egypt and Morocco the news is good subject of course to drilling and testing.

2020-06-23T12:19:38+01:0023 June 2020|Categories: Daily Blog|Tags: , , |4 Comments

Oil price, Far/Cairn, Tower, Coro – And finally…

Oil picked a notch yesterday, the EIA STEO has pedaled back a bit from previous US shale expectations. Far with Cairn have signed the FID and so the Sangomar field offshore Senegal is into Phase 1 development stage. Coro have signed up Nick Cooper as aNED, very wise and Tower has had another extension for the Thali PSC in Cameroon.

2020-01-15T11:28:44+00:0015 January 2020|Categories: Daily Blog|Tags: , , , |0 Comments

Oil price, Coro, Kosmos, Cairn, Reabold, AOW – And finally…

I catch up on the oil price which in my absence has risen by three dollars and looks quite healthy just now. Kosmos have another monster find off Mauritania whilst Cairn have another delay in India arbitration and a duster in Mexico. Reabold have an admin delay with regard the the Rathlin swap and I get into the TV studio with James Menzies of Coro Energy.

2019-10-28T16:32:07+00:0028 October 2019|Categories: Daily Blog|Tags: , , , |2 Comments

Oil price, Trinity, Solo, Cairn, GKP – And finally…

Oil prices continue to rise as new Minister ABS prepares to try and keep the oil market tight. Results today from Trinity are excellent with much more to come and they show a clean set of heels to the peer group. Solo has sold its Burj investment, important as it concentrates on building the business in higher growth markets. GKP results were good but saw a lower production figure which has led to a fall in guidance, never good but mainly due to increased investment in the plan to go to 55/- b/d at Shaikan and still has a large capex and dividend + share buy-back. Cairn figures very much in line with excellent operational featuring Catcher...

Oil price, Rockhopper, IOG, EOG, Reabold, Far, President, Cairn, Jadestone – And finally…

Oil drifts further despite more stock draws, the EIA will be important later. Today I comment on Rockhopper who have a well result for United and IOG who have spudded Harvey at last. EOG have converted LO 16/20 into FEL 4/19 but still have no farm-out. Reabold have spudded in Romania and I catch up from yesterday with Far Limited where CNOOC has acquired 55.5% of Svenska's interest in Guinea-Bissau. Also from yesterday another upbeat statement from President, Cairn sells half of its stake in Nova and Jadestone get the final all clear for Montara.

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