A few words on the oil price, nothing new. With Hurricane stating that the Aoka Mizu has left Dubai there are few pieces of the jigsaw left to place, Echo reports good news from Argentina and Bolivia. President has bought a little more acreage in Louisiana with decent upside potential and Zenith is ready to go in Azerbaijan. Finally a raise for Columbus might get them making the headway that they have always wanted.
Malcy talks about the following stocks: Amerisur Resources (AMER), Echo Energy (ECHO), Savannah Petroleum (SAVP), President Energy (PPC), Chariot Oil & Gas (CHAR) and i3 Energy (I3E)
Flash blog today, a welcome discovery from Amerisur in the T sand, good news from Echo in Argentina but a mixed report from Range albeit with longer term positives.
Another up day for oil with the bulls in charge, for the moment…Plenty of news with President making more moves in Argentina, Echo and IGas results and Chariot looking forward to spinning the drill bit in Namibia. Plenty of press comment in Niger about potential farm-outs for Savannah Petroleum and the Genel CFO reveals more good news at the Pareto conference.
After a busy week I take a look at a mixed time for the oil price after the Labor Day weekend. Amerisur is going well with production improving and a big well spudded and drilling on. Echo Energy starts the exciting process of seismic at Tapi Aike ahead of next years drilling programme which the CPR recommends highly… I interviewed Peter Levine, Chairman of President Energy this week and also chatted to James Menzies of Coro Energy. Finally after a successful raise this week I talk to Stephen Williams co-CEO of Reabold Resources.
I discuss an ‘up’ week for oil and likely more of the same. Sound Energy stamps its Morocco acreage, Amerisur spuds what might be a big well in the ‘N’ sands and Echo updates from Bolivia and production and revenue from Argentina. Eco (Atlantic) looks like it and Tullow have something big in Guyana after Exxon announces its 9th success next door and Getech pleases with its H1 update.
With the oil price having its strongest week for some time I try and explain why, SDX has a fine set of figures and explains how well things are going while Echo has a disappointing test but not bad when put into context. Far gets Ministry approval for its farm-out in The Gambia which is very positive and Faroe sees off DNO but for how long?
The oil market shows signs of tightening, gas flows for Echo in Argentina, I write up a chat with Peter Levine of President Energy and look at Sound preparing to drill in Morocco, Zenith’s big plans in Azerbaijan, Reabold spuds in the US and United get seismic in Jamaica.
WTI $68.76 +68c, Brent $72.90 +74c, Diff -$4.14 +6c, NG $2.72 -2c Oil price Computers work fast and do not differentiate between news as proved yesterday when the EIA inventory stats came out. The initial build in crude stocks of…
Malcolm Graham-Wood is joined by Fiona MacAulay, CEO of Echo Energy.