Oil is up about a dollar on the Opec report. Today Genel announce 3Q and 9 month update with the hope that the Iraqi-Turkish pipeline will re-open imminently. Touchstone also report for the period and with Cascadura flowing the numbers are starting to look exciting.Reabold have had an invalid requisition presented but will reply when a valid one returns. Jadestone have increased their stake in CWLH which looks like a pretty good deal to me. And UOG are losing their CFO and Echo have appointed Stephen Birrell as their new CEO.
Oil fell yesterday after the Russians said that Opec doesn't need to cut any further at next week's meeting. Touchstone has topped up its debt facility ahead of Cascadura and testing at Royston, Savannah comment on COTCo and Echo confirm sale of most of Santa Cruz Sur. And I note that EOG is having a shareholder meeting on the 8th June.
After last week's shenanigans oil rallied yesterday but there's still plenty of economic trauma to come all over the world. The rig count was down as is retail gasoline. Another excellent quarter from DEC who created a record production and now yield some 15%, not to be missed. San Leon had a bit of good news as Decklar upped sales and Reabold have moved into long term production in Italy....SDX appoints a new CFO and Echo restructure which the market rather likes...
Oil fell sharply yesterday after poor inventory stats. Jadestone has updated the market saying it was a game of two halves, well lets hope from now on its like the first half all the way...Hurricane has won in the High Court with regard to the reduction of capital and can now give the company away to the shareholders, if it were that simples...Capricorn has done what it was told to and changed the Board but is it for the better? And are Echo turning the corner?
Last week oil was up strongly after China's news about Covid started to wane. Today PetroTal released its 2023 budget and Tower is to raise up to $6m. Coro gave a production and corporate update and I catch up with Echo from Friday. Finally there is more interest in the Capricorn/NewMed and Pallister situation, involving Legal & General IM.
Oil fell yesterday, as the market got panicked about the Fed raising rates again. Touchstone has raised money in England and Canada ahead of the run-in to Cascadura and Royston. Scirocco chat about life after Ruvuma ahead of Capital Markets day tomorrow whilst Echo keep us hanging on and UOG spud the ASW-1X exploration well.
Oil is solid ahead of the Opec+ meeting on Sunday and the EU sanctions and -possibly- a price cap on Monday. Today Echo complete their restructuring which is good for the balance sheet but somewhat dilutive.
After a bad start to the week when China's Covid problems dominated the last two days have seen a fightback, partly due to reaction to the US inflation figures which took the steam out of the greenback. Today IOG update on the operational matters following recent unfortunate events and things are looking better, GKP update on money received and Prospex may have to buy a fair bit more and fund a well in Spain.
A decent rally for oil yesterday mainly due to inventory stats and supply concerns. Southern Energy are getting a new quote and I'm seeing them next week, Coro are doing well in Italy as prices help their portfolio and Echo finally restructure their debt.
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.