Oil tanked on the Fed news which hit markets hard but supported the greenback. Today Chariot announce that FEED for Anchois is finished and Zephyr say that flow testing the 36-2 well is imminent. Challenger and Predator have completed their deal and Angus record that the second compressor is up and running.
It's meetings week as the Fed, ECB, BoE and Opec all have policy shindigs. Today Chariot have acquired a renewable water production business which looks smart and GKP have a detailed update. Trinity also update the market after last week's announcement.
The 2023 Bucket List is published today, five companies are leaving one way or another and three are joining the group. The Oil and Gas prices both showed consistency in being virtually unchanged on the year although the prices changed at different times during it, see the charts. The blog also announces how the 2022 list fared.
Oil rallies on the Keystone pipeline leak. Genel are disappointed at Sarta and Longboat assess the year. Predator prepare for drilling in Morocco and I look at Sound and Chariot from yesterday.
Savannah has announced in the last two years the completion of the Chad/Cameroon deal and also the South Sudan acquisition. Chariot has announced 'key principles' for long term gas sales from the Anchois development with ONEE and Sound has has provided a project financing update in relation to the Company's Tendrara Production Concession, onshore Morocco.
Oil is cratering as Covid remains prevalent in China, WTI is back to contango. Chariot has announced a JV in South Africa in electricity trading where they have been awarded a licence. Also it has put to bed leaks from a meeting held in Morocco about the Anchois field. Zephyr has announced the spud of the 36-2 LNW-CC well in the Paradox Basin. And Tower has made progress in Cameroon as a loan is approved locally and now needs to go to group level.
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...
On a day that inflation send markets tumbling oil fell but was off the lows. Today Zephyr have an exciting deal that increases the value of the Paradox Basin and Chariot have interim results. Serica have operational problems at North Eigg and Pharos are looking tidy and about to restart paying dividends. Reabold have done a cracking deal on Corallian but go unrewarded in the market and Helium One are now drilling Q1 2023.
Half year numbers from UJO and how good they are, they get many box ticks from me. Results also from Sound which show very positive progress and Kistos who are continuing to perform in such a short time. Chariot has signed a Pipeline Tie-In Agreement with ONHYM.
With the US shut for Labor Day as expected markets were thin and oil rose, Opec+ didn't acknowledge that and are charting their own course. Chariot have done another JV with Total Eren, this time in Mauritius and Echo have results. Capricorn also have figures but whether the Tullow deal goes ahead is still somewhat up for debate.