Oil is strong after the Opec+ committee announced that quotas are likely to remain at next months meeting. Echo has announced that it has done a deal with CGC and is now concentrating on Tapi Aike and has materially reduced near term capital requirements which is very good news. JOG results are behind them and now with their partners they are setting about finding further prospects on the licence and looking at the extensive 3D seismic from last year. Rose Petroleum has raised money from OCE after previous donor Robert Bensh withdrew, and on better terms. With Reabold announcing commerciality of its two wells in California all we need now are the flow rates…And on that subject Pantheon is excited about the Alkaid well but still no commerciality here..
Tag: Echo Energy
Oil price, Chevron/Anadarko/Occidental/Total, Anadarko, Infrastrata, Victoria Oil & Gas And finally…
Oil may end up on the week, this evening in Washington may thankfully be after the close… Chevron walk away from Anadarko bid with a $1bn wallet warmer. InfraStrata are in discussions with off-take partners that might delay phase 1 of the deal but bring forward phase 2. I speak to Ahmet Dik, CEO of VOG about the ENEO payments and receive some comfort and theres a link to an interview commenting on 9 companies.
Core Finance interview: Martin Hull of Echo Energy
Today Malcy talks to Martin Hull, the MD and CFO of Echo Energy.
Oil price, Echo Energy, Touchstone Exploration, Getech And finally…
Oil is rallying again, mainly due to Venezuela being totally shut in due to power blackouts and with the API, despite reporting a build in crude oil showed further draws in products. An operating update from Echo is quite muted, the big stuff from Tapi Aike will come later in the year and Touchstone produce decent results with good netbacks. Finally Getech are handling tough industry conditions very well and report very creditable numbers in their pre-close update today.
The bucket list update.
The updated Bucket List, widely differing performances but I remain confident about the picks in the main.
Echo Energy
Flash blog as I’m out of town but good to see the Echo announcement with regard to Tapi Aike which is still the potential jewel in the Argentine crown. As for Cairn and Far good signs of activity in Senegal and Far remains severely undervalued.
Echo Energy, Genel Energy, RockRose Energy
Disappointing News from Echo in Argentina but with plenty of news to come particularly in Tapi Aike. Another good reserves report from Genel and a cracking update from RockRose.
Oil price, President, SOCO, Echo, Columbus, Faroe And finally…
The oil price remains firm and this morning is challenging important levels. President has again given a blockbuster statement with more to come this year whilst SOCO’s update was good, i like the Egypt acquisition. Echo are on site fraccing in Argentina and Columbus are making steady progress towards their Latin American targets. Finally Faroe has gone as DNO up the offer and buy up shares in the market, it’s the market’s view but so short term it’s almost indefensible…
Oil price, Frontera, Solo, Echo, Reabold, RockRose And finally…
Oil rallied small yesterday mainly on Libya shortfall but is better this morning after a surprise draw of crude stocks of 10.2m reported after the close by the API, gasoline drew 2.5m barrels, also better than forecast. Frontera has signed a term sheet for a loan of up to $60m which will accelerate activity in Georgia substantially and Solo continues its tidy up with sale of its interest in PEDL 331 to UKOG. I also follow up from yesterday on Echo Energy and Reabold Resources.
Oil price, Sound, Echo, Zenith, Faroe/Cairn, Premier, Wentworth, Enteq And finally…
Oil prices rally on talk of 1.4m b/d cuts, Sound are at TD in Tendrara and Echo have an upbeat operational update. Zenith figures only the start if things go well this quarter and at Faroe and Cairn they have a success at Agar but Cairn has a duster at Ekland. Premier are operationally in fine form again with much to come, Catcher the star but Tolmount and Mexico looking exciting with appraisals upcoming. Wentworth are still being paid which is good but man cannot live on Mnazi Bay alone, over at Enteq things are improving for Martin Perry.
