Oil has rallied for a number of reasons but Libya is getting pretty lively. Trinity have, as usual a very positive update across the board while Echo also seems to be becoming interesting at the Santa Cruz Sur. Far has gone ahead with its FID for Senegal and is now sorting out the financing which seems nearly all done. President has tapped Trafigura who are injecting money into this well run company and Lamprell confirms the two jackup orders. Finally Touchstone testing an oil play now have a ‘liquids rich’ structure.
Tag: Echo Energy
Oil price, Echo, Genel, Nu-Oil, Reabold, Eco – And finally…
The headlines are obviously of the US taking out Qassem Soleimani thereby reigniting tensions in the Gulf and surrounding areas. Companies catching up on news include Echo who are perforating and stimulating at Tapi Aike and have spudded at CLix-1001. Genel have another excellent producer at TT-34 and are unlikely to be affected by current problems in the Middle East. NU-Oil has made a modest raise, much to come from that company this year whilst it is now positioning itself for the inevitable deal. Reabold have found oil and gas at West Brentwood and Eco (Atlantic) has light oil to the North and the South.
Oil price, Echo, DGO, PetroTal, Touchstone – And finally…
Oil recovered yesterday after initially falling on an API report that showed a build in stocks, the subsequent EIA report showed a draw of 1.1m barrels and oil recovered to be roughly even on the day. Echo has announced that its rig is on the move and should be ready to drill the CLix-1001 well by the end of December. DGO has announced a new NED as well as announcing that the 2Q divvi will be paid on 20th December and a sterling equivalent of 2.65p a share. PetroTal has also appointed two new NED’s after recently the Chairman of the Board moved to the non board position of CFO. And Touchstone announce that the Coho-1 well has produced well making it a red letter month for the company.
Tagged with: Anglo African Oil & Gas, Chariot Oil & Gas, Coro Energy, Diversified Gas & Oil, Echo Energy, Eco Atlantic Oil & Gas, Hurricane Energy, PetroTal Corp, Predator Oil & Gas, Premier Oil, Reabold Resources, Rockhopper Exploration, Savannah Petroleum, Touchstone Exploration, Tullow Oil, United Oil & Gas, Zenith Energy
Echo Energy, PetroTal Corp
very promising early news from Echo Energy in Tapi Aike and now we wait for the results of testing. PetroTal has confirmed the dividend promised at the float.
Oil price, Hurricane, Echo, iog, Premier, – And finally…
The oil price had a bad day on Friday with very low volumes and Brent expiring, Opec on Thursday is on the minds of traders. Hurricane have made a discovery at Warwick West and also have a positive update on Lancaster. Echo are updating on Santa Cruz Sur with oil and gas production and an exploration well before long. iog have heard that the independent administrators for LOG remain positive about their discount to nav. And Premier has achieved first gas at BIG-P in Indonesia.
Echo Energy
Echo Energy has spudded the first Tapi Aike well, this is a four-well programme so patience has to be exercised.
Tagged with: Echo Energy
Sound, Coro, Echo, Wentworth, Eco, Longboat, Talon, + Africa Oil Week 2019 videos…
Today I talk about management changes at Sound Energy as its metamorphosis continues and also Coro Energy as it announces another successful well. Echo Energy has completed its deal and now looks forward to Tapi Aike whilst Eco Atlantic has fallen due to heavy oil, unnecessarily in my view. At Wentworth former CEO Eskil Jersing has been given the El Bow as potential acquisitions failed to materialise. There is a Longboat coming over the horizon laden with former Faroe management looking for funding to go back and do it all again. And Talon Petroleum is also queuing up to invest more in the North Sea. Finally a slate of video interviews by myself and VSA CEO Andrew Monk recorded at Africa Oil Week.
DGO, Echo – And finally…
Today’s flash blog covers Echo Energy who have announced that they have received the necessary waiver for their recent acquisition. Also DGO has announced the sale of non-producing assets for $10m which takes the cost of the EdgeMarc deal to only $38m and proves that the company are continuing to efficiently manage their portfolio.
IGas, Rose Petroleum, Sundry Echo, Coro, PetroTal
The moratorium on fraccing is interim in nature and quite possibly an election stunt but has hit IGas but maybe too much as it has a substantial conventional business. Rose Petroleum starts its strategic re-shaping with an asset deal and a small raise. Echo has extended is Acquisition Agreement waiting a waiver, Coro spuds the Tambak-1 well and at PTAL Douglas Urch takes over as CFO.
Oil price, Genel, Echo, Block – And finally…
Oil prices drifted on worse than expected crude builds reported by both the API and the EIA. However, the product markets were very different with both agencies reporting a quite substantial draw in both gasoline and distillates. Genel has announced Tawke production of 119,800 bopd which will rise above 120,000 bopd by the year end, also are getting on with the Peshkabir-to-Tawke gas project. Echo Energy has decided on a location for its first of four exploration wells at Tapi Aike which shareholders have been getting very excited about for some time. Finally Block Energy, having announced a GSA yesterday have completed at WR-38Z but no flow rates until after testing in the coming weeks.
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