Oil gained but gave back most of the gains at the end of the day. Union Jack and Reabold both flag the West Newton CPR due next week and Rockhopper completes the Navitas farm-in. Longboat look like they might have a discovery at Oswig but need a side-track and DST to confirm preliminary numbers that are better than pre-drill estimates. Finally, IGas and Egdon have both written thank you letters to that nice Mr Rees-Mogg for his relaxation of shale regulations.
Oil fell sharply yesterday as mixed US data led commentators to suggest as much as 125 basis points on the rate ahead of the Fed meeting next week. Today Coro and Empyrean both announce interims. IGas shares continue to fall, the gang of three who fired Steve Bowler have a great deal to answer for...
Oil rallied further on disputes and a mixed inventory report. IGas chose interim day to sack CEO Steve Bowler and Sound yesterday announced further legal grief in Morocco. With UOG spudding in Egypt and Reabold getting another market knee in the groin Longboat has added to the mainly miserable day.
Oil bounced after signs that the Iran deal isnt iminent and Europa borrowed £1m from UJO, Coro have good news from Duyung and I take a fresh look at Sound Energy after yesterday's numbers. Both IGas and Reabold laud the Government's moves on fraccing etc and Getech make a big hire.
Flash blog on Genel results, IGas update, the Tower raise and Jadestone buy-back.
Oil fell on Chinese Covid worries, the Opec report was broadly in line with previous numbers, they certainly can't increase much right now. IGas AGM trading statement is good but unclear about the Looney tax and Orcadian are back again today with a seismic acquisition and licensing agreement.
Oil fell yesterday on China problems but is up today as the EU start the process of stopping Russian oil and products. Reabold has walked away from Victory as Corallian is bid for, seemingly preferring to spend on West Newton, I don't blame them. Another cracking set of numbers from Gran Tierra across the board and SDX have tied in of the SD-5X Warda well whilst Empyrean are going for Topaz.
Stephen Bowler, CEO of IGas Energy, joins Malcolm.
Flash blog so comments on results from Wentworth, an addition to those from IGas. Chariot have got support from the Port of Rotterdam on green hydrogen and Eco announce a raise of just under £20m.
Oil is still cranking up with more action in the Ukraine, from yesterday we look at outage at Serica and IOG having to change their GSA partner. IGas has updated which looks promising and Jadestone deliver Montara.