Today Malcy discusses Echo Energy (ECHO), Rose Petroleum (ROSE), Pantheon Resources (PANR), Jersey Oil & Gas (JOG), Reabold Resources (RBD), Amerisur Resources (AMER), SDX Energy (SDX), Falcon Oil & Gas (FOG), Block Energy (BLOE) and Egdon Resources (EDR)
Oil firm as the Saudis hit back at the Houthi rebels. SDX reduce guidance and lose CEO Paul Welch, at Falcon they raise a bit to top up for this year and next year existing carry. All in line at Cairn with no change in guidance or plans in development and exploration. Earlier this week Wentworth updated and all is going well, yesterday Block Energy raised £12m, a solid achievement given how fast they have moved and at Egdon they raised £2.17m. Empyrean has seen gas clouds at Topaz and Jade which CNOOC say is good news and Lisa Mitchell moves from Lekoil to San Leon…
The oil price has another fall with the US inventories mainly to blame, Falcon have some good news from Beetaloo and Zenith raise a little more for drilling kit. I take a look at the RockRose statement from earlier in the week and conclude that despite being suspended all is well.
Oil rallies hard on US waivers being withdrawn, Saudi production falling again and the rig count falling. Falcon extends the ORRI in Australia and Upland has good new from Tunisia.
Oil had a good week, both WTI and Brent were up $2.21 and $2.22 respectively and they are solid this morning. Hurricane has snagged a rope around a buoy and is now taking refuge from the weather but no harm done whilst Genel has made a smart acquisition in Kurdistan. VOG is selling a lot more gas than last year already and may be on the way back up whilst Falcon is back in business after a two year moratorium. Finally good news from Empyrean who have a big valuation in Indonesia.
Malcy talks about the following stocks: Premier Oil #PMO, Trinity Exploration & Production #TRIN, Faroe Petroleum #FPM, SDX Energy #SDX, Independent Oil & Gas #IOG and Falcon Oil & Gas #FOG
The oil price fell last week but has opened better today, a narrow range is still likely. I discuss further good news from Premier as Tolmount is sanctioned, look at Eco (Atlantic) as Exxon surround them, this time in Namibia. I also look at Falcon Oil & Gas as they announce plans for the Beetaloo shale and detail my thoughts on a meeting with InfraStrata.
WTI $68.05 +35c, Brent $74.00 +14c, Diff $5.95 -21c, NG $ Oil price A very short blog, I am out of my office and running on borrowed internet time. Oil was up yesterday and again today, after all the French…
Malcy talks about the following stocks: Savannah Petroleum #SAVP, Echo Energy #ECHO, SDX Energy #SDX, Rockhopper Exploration #RKH, Falcon Oil & Gas #FOG and Eco Atlantic Oil & Gas #ECO
WTI $66.82 +$1.31, Brent $72.06 +$1.02, Diff -$5.24 -29c, NG $2.67-1c Oil price Another strong day for oil yesterday and it is modestly higher again this morning, few could argue that at the moment it is all about geopolitics as…