Oil fell last week with interest rate worries leading the charge. Today DEC announces the circular for the tender offer to the shareholders for dividend options. Also JOG and Serica announce the completion of the farm-in by SQZ into the GBA. Finally i3 update the market with production in line with guidance.
Oil fell sharply on poor inventory stats, way higher crude builds than the whisper. DEC has announced a number of dividend options for shareholders to try and rally the share price and Ithaca has issued a very good trading update. Finally Tower has raised money to pay down debt, not for the first time.
I'm reporting from Bogota in Colombia this week were I am with Arrow Exploration and having four days of unrivalled exposure to this fantastic company. Oil is weakish today ahead of Opec and I look at DEC who have provided a very solid update. And I re-publish my piece on Gulfsands which was published yesterday by mistake and repeated later from an airport lounge...
Oil has rallied after further activity in The Red Sea and inventory draws. Today DEC fight back against the short sellers, taking the fight to them. Genel are feeling very upbeat with a strong cash position and a bright future when the pipeline opens, or not. And Afentra are amongst the winners in the Bucket List with much more to come.
Very little change after the holiday yesterday, Brent is up 50 cents. Today Pharos has a sparkling update, Southern have hit the bullseye with their latest well and DEC say they know no reason why the shares are under pressure. Finally Energy Pathways is on the loose and doing a roadshow in London
Oil started strongly and backed off after problems in the Red Sea alleviated. Today DEC do a smart deal to reduce debt and keep a stake despite selling an asset. Union Jack and Europa both reveal a really good CPR from Wressle and its environs and UOG has a result in Egypt.
Announcements from Chariot in South Africa, DEC listing in the Big Apple and Kistos back in business in the Shetlands. Also Wentworth are nearly done, Serica has a very smart RBL, Deltic outline plans for next year and UOG tidy up in Egypt. With a raise from Tower.. and a poor result from Jacobin for Trinity thats all...
Excellent news from Chariot as the market has been waiting for this farm-out announcement and the partner could not be better. Also useful data from DEC with regard to the divvi.
Oil is easier again today as speculators took money off the table after the combination of poor inventory stats and economic malaise in China. Today DEC announced that they would be getting a listing in the US but not with a raise to go with it. Arrow has had another very decent discovery at RCE-6 and the drill bit spins again at the 7 well and at Oso Pardo. Finally I comment on Touchstone after the results and the presentation yesterday, all is looking extremely positive for TXP.
Oil remains quiet, a weak dollar as rates remain at these levels. Today DEC has another strong update and yields 20%, Zephyr add the flows from the Williston Basin and Eco Atlantic get the OK in Guyana.