Oil is mixed but relatively based, company wise Amerisur have another substantial rise in reserves and should be higher. RockRose have bid for IOG, easier than farming-in I suppose with a 20p offer. All change at VOG as a substantial raise and change of management signals a new, brighter future and Soco admit they also bid for Ophir but their all-paper offer was not good enough. Finally Jadestone Energy have given guidance which sets them off on a substantial voyage of discovery, worth being aboard.
Oil rose modestly on the week but has fallen back somewhat today, US/Sino trade is still in the melting pot. President is raising money to accelerate its Rio Negro programme which should substantially increase the gas proportion of the mix. RockRose has bought the Marathon UK North Sea and West of Shetlands assets for $140m nearly doubling the size of its portfolio and Reabold and United Oil & Gas have had a discovery at Colter but having missed the target which it will now try to get to with a side track. Independent Oil & Gas are going down the farm-out route for its SNS core assets and therefore may not have to have quite such a big funding…
Oil has had a good week, if it holds the price right now it will be up 9.6% on the week as signs of production cuts hit the market. Jadestone Energy who impressed me lately stand by to bring the Montara field in Australia back on and IOG are unaffected by the FCA action into London Capital & Finance.
Oil crashes again, Fed decision today, Reabold spud in California and Angus start tests at Brockham. And from yesterday, Board changes at IOG.
Oil prices remain weak ahead of the uncertainty that is G20 and Opec+. For IOG it’s a delay for the Blythe and Vulcan hub project until better times for financing appear and for the Wressle partners the amateur army at North Lincs Council continue to have their Luddite way…
Today Malcolm is joined by Andrew Hockey, CEO of Independent Oil & Gas.
Time to take a look at the crude market after agency reporting week and meetings between China and Russia and Rick Perry getting involved in the process. I look at IOG who have completed their latest funding and are planning the Harvey appraisal well. I’ve heard news of a new investment opportunity which may be quite hot… And its a monumentally big weekend for sports fans…
Malcy talks about the following stocks: Premier Oil #PMO, Trinity Exploration & Production #TRIN, Faroe Petroleum #FPM, SDX Energy #SDX, Independent Oil & Gas #IOG and Falcon Oil & Gas #FOG
Malcy talks about the following stocks: Solo Oil #SOLO, Wentworth Resources #WRL, Aminex #AEX, Independent Oil & Gas #IOG, Amerisur #AMER, Hurricane Energy #HUR and Genel Energy #GENL
In today’s blog I discuss the oil price, good news from Range Resources, a raise and a new team at Solo, FEED coming good at Infrastrata, an acquisition for Kosmos and the BPC CEO gets a new contract.