Oil is better again today after further assessment of the inventory stats which showed a big draw in crude. Today Wressle is being installed with a jet pump for increased production for Union Jack and Europa. GKP had nothing much to say about the pipeline but are selling a decent amount of crude at the factory gate. i3 had a bad beginning to the half but is looking better lately. And Coro is trading around the Philippines from Ion to Oslob.
A flash blog, I look at the GKP update and also Star who are going ahead with the transition from oil & gas to geothermal...
The week started with the oil price falling and is ending much more positively. Today DEC announce divvi conversion rate and PetroTal has received £6.1m from warrant conversion. GKP in their AGM statement are still stuck whilst the pipeline remains shut. Tower Resources have a positive update from Namibia and yesterday Coro announced completion of the Vietnam deal.
Oil is solid ahead of further default talks and Chevron have made a classic acquisition of PDC Energy. Kistos have completed the Mime deal and it looks better than ever....Southern Energy have done a deal of their own and it looks highly accretive as well. And GKP have blinked first and canceled the latest dividend.
Oil is not short of influences from the short term reopening of the Turkey pipeline to the longer term over demand in the market. This brings Genel and GKP back into play. Touchstone has Q1 results but that's not the story for this year and Predator have raised a little for Morocco activities.
Oil fell sharply as US recession looms, Sound look closer to financing and Petrofac have rewritten the numbers. UOG have sold Maria and Jamaica appears to be a bit closer. Trinity have no growth so the Jacobin well is crucial and Tower may well be on the way in Cameroon whilst at GKP everything stops for the pipeline closure.
Oil rallied sharply with shortages around and books levelled ahead of the quarter and importantly the Opec meeting on Monday. JOG have announced that they have signed Heads with a significant UK North Sea operator for the GBA and GKP update on the Iraqi pipeline.
A sharp rally in crude after the pipeline from Iraq remained shut. Union Jack Oil paid an interim dividend, what a change this company has seen. GKP confirm that the divvi, when approved at the AGM will be paid and Camarco, IR advisors to a company near you has been taken over by the Shermans...
Oil rallied last week as rate rises seemed to be coming to an end. Today Genel and GKP have fallen after the closure of the Iraq-Turkey pipeline. Coro has sold its Italy acreage and will bet on South East Asia now, and COPL has announced a $14.8m bond.
After the Fed raised rates yesterday it was the turn of the Bank of England today and it was no surprise that the Old Lady added her 25 bp's worth this morning. Today, finally, Jadestone announced that production at Montara had finally got underway again and will settle over the next few days before guidance is issued. GKP issued an excellent set of results but where is the growth at Shaikan to come from? And Serica completed the Tailwind acquisition.