Oil stayed high last week but markets are panicking about recession ahead of the Fed meeting on Wednesday. A positive update from Savannah Energy and Advance say how disappointing Buffalo-10 was. Gulf Keystone have an operations update which is like the curates egg. SDX have spudded the second well at Meseda and Lamprell have a potentially large wind client.
Oil is up again after the Yemeni action against the UAE. Genel has announced a strong trading update and Sound has announced that it is them who are one of the bidders for Angus. Finally, Chariot have had another really good testing time at Anchois which looks set very well indeed.
Oil is in reasonable nick staying around $80. Chariot has made a significant gas discovery at Anchois and Eco Atlantic has acquired Azinam, with stock. IOG have had a small set back in Southwark and IGas have appointed a new NED to take over as Chairman from Cuth McDowall.
2022 Bucket List.
The prospects remain healthy for oil stocks going into 2022. Malcy looks back and discusses the prospects for the year.
The 2021 Bucket List results.
Oil has started to wilt in the face of Omnicron as the IEA forecast a sloppy 1Q 2022 for demand. Whilst this is fair it may be that Opec+ still have the ammunition to fight that if necessary, after all it wouldnt be the first time that the IEA get things wrong...Today sees a detailed statement from Predator where Morocco is exciting and Ireland is reappearing as a market as expected by the patient management. Chariot have got underway also in Morocco with the drilling programme at Anchois which looks very exciting.
The Saudis pulled the wool over the eyes of The White House and oil is up 2 1/2 bucks today after the Opec+ meeting didn't finish. Chariot has raised $9.5m plus what's in the Open Offer and it was oversubscribed with new, existing and management all in. Shell make a tactical exit from Cambo and I interview Andrea Cattaneo CEO of Zenith Energy
In this roller coaster ride oil is up nearly 3 bucks ahead of the Opec+ meeting tomorrow. I look at Sound that continues to make good progress, and exciting times for Chariot as the rig for Anchois is mobilised. San Leon announces further delays and Angus updates with good news across the board. Finally Orcadian gets the OK from the OGA for the Pilot field and Prospex get under way finally in Spain.
Oil is down with Covid blamed while natural gas is up after Germany delays the Nord Stream 2. Chariot have another deal with Total Eren which should be big news for them. Sound is shuffling the board, Graham Lyon continues to be smart.. The DEC CMD has just finished, way too late now to write it up but it was very positive indeed, a really good message from a turnout of all senior execs.