July 4th meant very little trade, WTI was shut and Brent drifted. Today I’m talking about Eco Atlantic who have spudded offshore Guyana, Gulf Keystone who have paid a divvi today, IGas who announced further conventional activity yesterday and a report on a meeting with Petro Matad CEO Mike Buck.
Oil prices are quiet ahead of G20 and the ensuing Opec+ meeting. I talk about Savannah Petroleum this morning as the completion of the Seven Energy deal nears, I also discuss IGas and their appeal being called in, Rose with a strengthening of management and Union Jack on the raise. I talk about the SDX well in Egypt and give links to an interview with Peter Levine and my Podcast with Doc Holliday of TMS.
Oil surged on strong inventory data and short closing by money managers. Stock wise, President have a very positive AGM statement, IGas have a very psoitive find at Springs Road, Premier up their numbers at Zama, Serica are positive in their AGM statement, Hunting’s update is pretty good and Wentworth cut guidance which disappoints.
Another bad day for oil as markets remain weak and in risk-off stance. Saudi OM pledges to continue working for market stability and cuts his own production again. IGas get planning for Scampton waterflood, Egdon raise $1.98m but only 72% endorse the raise, VOG settle with Weatherfords and I cover CERP results from yesterday.
Oil fell sharply yesterday ending two dollars off the peak after the comments from China, probably no time to panic though. Another good statement from Amerisur who have production up, success in Platanillo and have just spudded Sol-1. IGas AGM statement is also very positive and the shares have fallen way too far, wait for Springs Road and further gas demand data. Finally Touchstone has announced good 1Q figures but its all about Ortoire in this quarter.
Malcy’s interview with Steve Bowler, CEO of IGas Energy:
Malcy talks about the following stocks: Victoria Oil & Gas (VOG), Igas Energy (IGAS), Egdon Resources (EDR), Amerisur Resources (AMER), Rockrose Energy (RRE), Independent Oil & Gas (IOG) and Reabold Resources (RBD)
After a mixed and apparently turbulent week in the oil market the price ended up although less that a dollar. Right now WTI has rallied by 60 cents and Brent by 72c. Today Coro and Empyrean get their Plan of Development for the Mako field offshore Indonesia, good for monetising the gas. IGas and Egdon have announced that at Springs Road ‘significant gas indications were observed’, could this see the East Midlands start to become our own Dallas? Reabold bounce back from Friday’s duster to find in excess of 60m of pay at the Monroe Swell which will be very valuable whilst Cairn now have to wait until the end of the year at best to find out arbitration news.
Today Malcy talks about the following stocks: Sound Energy (SOU), Genel Energy (GENL), RockRose Energy (RRE), President Energy (PPC), Eco Atlantic Oil & Gas (ECO), Igas Energy (IGAS) and Anglo African Oil & Gas (AAOG)
It has been a good week for oil, production quotas are being adhered to and there are some geopolitical worries around too. Another good announcement from President shows just what a good year 2018 was, with more to come i shouldn’t wonder, I have interviews in the blog today from Bill Higgs, COO Genel and James Menzies CEO of Coro Energy. Meanwhile the Sun are reporting on a success by IGas which adds to some good UK onshore finds, not before time…