Oil is off around 30 cents today and due a technical reverse but the market remains very positive. JOG has moved a step closer to putting the GBA hub together and the next few months is exciting for them. IGas have had a good run but today's update continues the positive stance with good reserves update, positive production guidance making 2021 look exciting for them.
Oil is still strong this morning after 2020 showed a fall of $12.54 in WTI and $14.20 on Brent. Updates from JOG who has settled the TGS matter, IGas who detail the updated RBL and Zephyr who brief on 16-2 and 2021 outlook.
Oil fell on Friday and is at least a buck down today as markets all lose way in the face of further increases in COVID numbers. President provide very creditable interims along with a successful drilling result today and IGas are throwing the dice again, this time with Hydrogen in a HOT with BayoTech. Finally I review Savannahs interims as I took time out to interview CEO Andrew Knott with a link here.
WTI $40.83 -5c, Brent $42.62 -31c, Diff -$1.79 -26c, NG $2.80 +2c Oil price A very modest fall yesterday, today it's a small rise but no massive direction from the ...
Oil has followed markets down after Reuters report a rise of 160/- b/d in Opec output in September and of course virus numbers were increased by two after POTUS and FLOTUS got the bug. Savannah had results this week as did Lamprell and yesterday I interviewed Stephen Bowler, CEO of IGas.
Malcolm is joined by Stephen Bowler, CEO of IGas Energy, to talk about the company's continuing stable business through uncertain times, including some new acquisitions.
Oil has rallied today after a bad day yesterday when virus worries hit markets very hard. Today there is some modest relief but don't hold your breath. IGas interims show that good management counts, President continue to succeed in workovers and the drilling programme is underway. Coro figures are irrelevant but the increase in resources at Mako is substantial whilst Longboat are patiently stalking their targets. Africa Energy raise more than expected for drilling with Total in South Africa and Falcon update the market from the Beetaloo.
Oil has rallied for two days now despite mixed messages from the market. In company news IGas is making an interesting move into geothermal heat by taking over GT Energy for shares. Premier are now being forced to speak to other market players which is all they need at the moment. Finally another TR-1 from Block Energy makes one think that the pantomime season isn't far away...He's behind you........
Oil has drifted a touch after slightly disappointing inventory stats showed a build in crude. Gasoline continued to draw though although recent virus numbers will have dented demand. Today IGas continue to deliver the goods for shareholders, again they have acted well in difficult circumstances by bringing on waterflood at Scampton and is expected soon at Welton. Lamprell announced yesterday a good operational update and I would think that we may be at the beginning of a cyclical upturn for them.
Oil and markets fall on the IMF downing GDP forecasts and a rise in COVID-19 cases. Inventory stats showed a modest build in crude but again a solid draw in gasoline stocks and demand. Far Gambia has signed up a JOA in respect of Blocks A2 and A5 with Petronas and is in process of a farm-out for part of its own stake.San Leon have figures and the amount that this company pays out is making it, in my view a very credible investment especially for retail investors. IGas has continued to carefully monitor its resources and is also cutting costs from a position of strength.