Oil bounced after signs that the Iran deal isnt iminent and Europa borrowed £1m from UJO, Coro have good news from Duyung and I take a fresh look at Sound Energy after yesterday's numbers. Both IGas and Reabold laud the Government's moves on fraccing etc and Getech make a big hire.
Oil was mixed and as the trading month ends tonight a bit of window dressing is taking place and oil is up today. Today sees good news from Prospex in Italy and for Europa In Ireland.
Oil continues to rise and is heading to $90, looks good to me. Egdon as operator and Union Jack and Europa have had a great valuation for Wressle which more than franks the share prices. Longboat have been awarded a licence under the Norwegian APA licensing round. Finally Advance have announced that the Buffalo-10 well looks disappointing, they are still on site but the market doesn't like it...
Oil has rallied by around a dollar this morning after the markets felt that the Evergrande problem had been overdone. Today the FOMC policy meets for 2 days and the gas market continues to rocket. A really upbeat statement from Wressle today is good news for UJO, ERD and EOG some who add more to the statement. UOG updates on the ASX-1X well which has encountered 10m of pay, finally Longboat has spudded the Egyptian Vulture well.
Oil rallies over 8% in the last two days, always likely as it was oversold after the recent fall. Excellent news today for the Wressle partners, Egdon, Union Jack and Europa as they release test data that shows flow of 500+ b/d. An interesting strategic investment by Hunting today and President releases results from last year. Finally, Prospex have received a valid call for a GM to remove the board.
Oil had a Monday fall after concerns from China and a surge in Covid cases hits the US, albeit as in Britain there are many fewer hospitalisations. Good results from Genel and a confidence boosting increase in the divvi helped and IOG have spudded the Blythe development well. Lisa Mitchell is moving on from San Leon as CFO but staying to ensure current deals progress. Europa have started the farm-out process in Morocco and Lamprell were slightly disappointing. Finally i was saddened to hear from Trinity that Bruce Dingwall is seriously ill.
Oil is better again today after OK API stats after the close and a rally at the death last night. Genel announces KRG payments, Challenger spud at Saffron-2, UJO/Egdon and Europa have permitting at Wressle. President update from Argentina and Paraguay and I interview David Minchin, CEO of Helium One Global.
Oil is in good nick, Brent was over $70 late this morning. UK jobs data and word from the US are pointing to oil stocks to decline 2H this year and after last week retail gasoline prices have risen. Positive news from the Wressle partners today makes that look very good indeed whilst prelims from Trinity were good but show that the company is in a 'pretty good state' and 'delivering for growth.
After all the Hullabaloo oil was even last week, today however it has tipped upwards again. I look at Chariot who have signed a collaboration Agreement with Subsea Integration Alliance for Anchois. Angus Energy are positive after news that their loan has seen substantial subscription. President update on 2020 and give guidance for 2021 whilst Echo publish their bond restructuring details.
Oil came back sharply yesterday as the Saudis said that production would be back to normal by the end of this month, way sooner than expected. Rockhopper results are fine but its all about Sea Lion which is progressing waiting for senior debt and of course the Ombrina Mare arbitration. At Chariot they have a CPR over additional prospects in the Lixus licence which takes the number to over TCF. SDX has had a find in Egypt and adds 315 b/d to production and EOG has been awarded an offshore licence in Morocco, the current hot post code internationally.