Oil fell yesterday on the Moodys downgraded its China views. Today I look at the UOG update as well as the Angus news from last Friday. I also note that Gulfsands has stepped up Project Hope with a video from Syria.
Oil has risen by another dollar today, despite poor Chinese economic data. IOG have had a slight problem at Blythe H2 but are hoping to sort out the problem. JOG have had approval for extending and farming out the licences at the GBA. Egdon and partners have run into a problematic Planning Inspector and Gulfsands have their annual report out. And Jadestone cap a bad year with a raise of equity and working cap and an Open Offer but it's turnaround time and elsewhere good finals from i3.
Oil has been week as US recession bares its teeth, but inventories are down and Opec doesnt like the IEA, neither do I...Gulfsands reiterates its Syria platform, Predator and SDX have meaningless results, Reabold updates on operations and a new buy-back.
Oil lost its gains on US data and inventory gains. IOG is planning changes at Southwark to isolate three of the zones and Gulfsands has opened its new Hub in Abu Dhabi. Predator has run into technicals in Morocco but it's not all over yet. Capricorn, you couldn't make it up could you? Getech has produced a good set of numbers and a good order book in its new areas and Serica gets a renewal from the US. Angus has a 14 day delay at Saltfleetby which shouldn't worry folk and COPL has production at Cole Creek. And Kosmos say the FPSO for Tortue has sailed away to Tortue.
A small rally and no real change after the EIA report or the API stats. Gulfsands remind us about Syria, Longboat has received some awards, and Orcadia has disposed of Crinan and Dandy after a good resources report at Pilot. Hurricane update, Deltic say Shell are testing at Pensacola and EOG have an update.
Eco has a duster at Gazania, Reabold win their vote, Gulfsands open up in Abu Dhabi and Hurricane stay with the FSP.
I have been increasingly aware that there have been significant developments at Gulfsands in recent months, so I took time to catch up with Managing Director, John Bell.
Oil rose last week but July was another down month, demand falling as the recession arrives is deemed responsible. Today Scirocco update on Tanzania, probably more interesting to Aminex and Wentworth...Eco Atlantic have a big update but its a very exciting outlook, whilst Longboat spud Oswig and Prospex update on El Romeral. Finally I had the opportunity to interview John Bell of Gulfsands last week and the detail is in the blog today.
Oil is all over the place but solid enough. IOG update on production where Saturn Banks is half back on, Hurricane relinquish the GWA and Tullow offer a merger with Capricorn. Jadestone is going net zero and I try again on Gulfsands...
Oil all over the place with the US shut yesterday, rallying today on a modest EU deal on sanctions on Russian oil. Another update today on Gulfsands, they are very busy right now. Also yesterday another albeit modest contract for Petrofac.