Oil was flat last week and is now finely balanced but Opec+ must still be in the driving seat. On Friday Angus announced better than expected production from Saltfleetby and today COPL have a material increase in reserves and i3 have good figures.
A flash blog with information on Zephyr Energy who update on Q1 production, i3 who announce a whopping 25% increase in the divvi and an AGM statement from Harbour.
Oil is unchanged today after a big fall last week, both sides are finely balanced at the moment. IOG still have teething troubles at Blythe, VOG has lost a big part of the arbitration, i3 have record production and better than expected reserves and Arrow have spudded in Columbia. Meanwhile 6 years on Empyrean is about to spud...
DEC has closed another abs and is now set for further growth, rule nothing out. Eco has announced a gain from an investment sale but shareholders will be more excited by exploration especially after Total's recent big discovery in the Orange Basin. i3 Energy and Block both update the market.
Oil is rallying but dependent on The Ukraine and the Iran/US talks. I speak to influential commentator Marcus Koch on his Wall Street show and i3 update, I may start following.
After a quiet week oil is off to the races again, a combination of good virus and vaccine news from the US and continued loss of production and refining from Texas will hinder US supply for the tie being. Coro Energy has made an acquisition in SE Asia which brings with it a new CEO and the company is raising some £5m. i3 Energy has announced a good update with potential for more.
Oil fell at the end of last week as Aramco started to cut prices to its Asian customers as demand falters in the region. It's Labor Day today so the US is on holiday but elsewhere oil had dropped around 70 cents. Chariot has announced yet another significant upgrade at Anchois on the Lixus licence in Morocco, it gets better and better. Jadestone has rearranged its offtake agreement saving c.20% in the process and i3 has completed the Gain deal which looks pretty interesting. Pantheon are now double handed with applications in for both Alkaid and Talitha in Alaska and I speak with Deltic looking at their 32nd round awards.
IOG announced completion yesterday of the core project and now go ahead with the farm-out and FID. i3 have a discovery at Serinus which is good and interestingly has a decent knock on for RockRose over at Tain.
Malcy talks about the following stocks: Amerisur Resources (AMER), Echo Energy (ECHO), Savannah Petroleum (SAVP), President Energy (PPC), Chariot Oil & Gas (CHAR) and i3 Energy (I3E)
The oil price was up last week but seems to have run out of steam, I look at where it might go in the next few weeks. i3 Energy has replaced CEO Neil Carson with NED Majid Shafiq which is certainly an interesting call and probably the right call given the company's current situation.