Oil rallied last week as rate rises seemed to be coming to an end. Today Genel and GKP have fallen after the closure of the Iraq-Turkey pipeline. Coro has sold its Italy acreage and will bet on South East Asia now, and COPL has announced a $14.8m bond.
Oil and markets are all over the place with banks failing and the CPI today being higher than expected. San Leon have noted arguments about the operatorship of OML 18 which will go legal. And COPL talk again about friendly financiers with the waiver.
Genel sign with Morocco re Lagzira, remember Sidi Moktar (?). Scirocco start changing the board, slowly right now but the makeup will change. SDX update on the portfolio and COPL have been hit by the weather...
Oil lost its gains on US data and inventory gains. IOG is planning changes at Southwark to isolate three of the zones and Gulfsands has opened its new Hub in Abu Dhabi. Predator has run into technicals in Morocco but it's not all over yet. Capricorn, you couldn't make it up could you? Getech has produced a good set of numbers and a good order book in its new areas and Serica gets a renewal from the US. Angus has a 14 day delay at Saltfleetby which shouldn't worry folk and COPL has production at Cole Creek. And Kosmos say the FPSO for Tortue has sailed away to Tortue.
Oil rallies at the start of the year and San Leon have extended the term while they complete the OML18 transaction. CEG formally announce the Uruguay stuff that i wrote up last week and Angus have good production numbers. Finally all is unveiled at the New Beacon and COPL have more money from a lead investor.
Oil is quiet as managers trim positions ahead of the break. Today sees another upbeat operations update from Arrow Exploration and San Leon repeat the Decklar news. I note the Wentworth comment and cover the interesting news from COPL on Wednesday.
A follow-up note on Kistos after the recent Capital Markets Event and before tomorrow's budget which will likely up the ante for energy companies. Also a catch up on COPL figures from yesterday,
Oil will likely end up on the week, it is up 3 bucks today. Chariot are moving into larger scale green hydrogen and ammonia production projects in Morocco in addition to hard work on the gas side. COPL has issued 6,996,500 common shares pursuant to a conversion of $800,000 principal of 2024 Bonds and $600,000 principal of 2025 Bonds. Finally a mention of Gran Tierra which I like the look of but havent met yet...
Oil drifted on the last day of what has been a very good month and traders locked in profits. An update from Arrow was excellent and in line with guidance and San Leon have slightly extended the backstop date for the OML18 financing and Challenger update the market on a wet quarter. Finally Jadestone complete the acquisition from BP and COPL also update the market..
Oil was flat last week and is now finely balanced but Opec+ must still be in the driving seat. On Friday Angus announced better than expected production from Saltfleetby and today COPL have a material increase in reserves and i3 have good figures.