Oil fell on further Chinese Covid worries which persist, when over the true demand numbers will out. Today sees the re-debut of Ithaca in London and the shares have fallen 7% so far, probably plenty more to go. Coro have brought more Italian assets back on which with winter gas prices should deliver significant revenue. Yesterday both they and Empyrean announced progress from Duyung which still has a way to go yet.
Oil fell sharply yesterday as mixed US data led commentators to suggest as much as 125 basis points on the rate ahead of the Fed meeting next week. Today Coro and Empyrean both announce interims. IGas shares continue to fall, the gang of three who fired Steve Bowler have a great deal to answer for...
Oil fell slightly on Chinese Covid cases whilst Genel CEO Bill Higgs has stepped down after the AGM vote. Angus Energy confirm that first gas is imminent and Empyrean are ready raise money and drill the Topaz prospect.
Oil will be modestly down on the week after continued drift and delay from the EU about taking oil & gas from Russia. Today Enercom names and shames those international refiners still taking Russian crude which are mainly Indian. President announce numbers from Argentina which continue to show solid progress. Empyrean is raising funds to to after Topaz and I get back to Capricorn following its AGM statement.
Oil fell yesterday on China problems but is up today as the EU start the process of stopping Russian oil and products. Reabold has walked away from Victory as Corallian is bid for, seemingly preferring to spend on West Newton, I don't blame them. Another cracking set of numbers from Gran Tierra across the board and SDX have tied in of the SD-5X Warda well whilst Empyrean are going for Topaz.
Not much going on on the oil front but gas is all over the place. An update and results from JOG who are in very good shape at the GBA. Figures and an update from PetroTal which is also in very good shape right now. Afentra reveal that they have bought interests with Sonangol which looks a cracker to me. Finally Hurricane report and looks cheap as chips. And Empyrean regrettably found out that jade was dry.
After the substantial rise in the oil price last week and again yesterday oil is lower today. Rockhopper has announced that the Sea Lion farm-out has gone ahead and Empyrean has announced good interim results from its Jade well. Trinity has a Q1 update , UOG meet Q1 production guidance and Arrow look to have a successful well in Colombia.
A Flash blog today covering IOG bringing production back on at Blythe, DEC updating on its kit for reducing methane emissions and Union Jack and Egdon confirming that it has lodged the Biscathorpe appeal. Also for Empyrean it is an exciting few days as the Jade well keeps drilling ahead.
Oil is unchanged today after a big fall last week, both sides are finely balanced at the moment. IOG still have teething troubles at Blythe, VOG has lost a big part of the arbitration, i3 have record production and better than expected reserves and Arrow have spudded in Columbia. Meanwhile 6 years on Empyrean is about to spud...
After a big week last week oil is down by around $8 today as Covid in Shanghai is being dealt with. A good revenue announcement from Union Jack Oil from Wressle which goes from strength to strength. Touchstone results were good but also prove they are about to get wells onstream and with cash to spend. UOG have brought onstream the ASD-2 well at Abu Sennan in Egypt and also they have added another well to the programme. Finally more warrant conversions at Empyrean is good news.