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.
Oil is up today as demand looks stronger than any supply in the future. PetroTal has issued a very upbeat Q1 update which makes me want to increase the TP again. Gulfsands have done a very smart deal in Colombia which might not have been possible a few years ago. Petrofac are slightly cautious about the short term but the long term looks good to me, Egdon has paid off some debts and is making good returns from Wressle particularly, Union Jack gains from being paid back. Finally Challenger has gone on with its Uruguay acreage which is now looking very exciting.
A good day for oil as the EU talk about banning Russian hydrocarbons. San Leon update on Nigeria things are on the move, Zephyr CEO talks to me about the CPR, and i look at an interview with John Bell of Gulfsands. Finally Far update the market.