A round up on the move of a number of companies including Petrofac trading update, President having further well success and other news from the sector.
Thanksgiving Holidays make for thin volume and volatile markets ahead of Dec 6th. Amerisur reveal a significant farm-out to Occidental Andina in Colombia worth $93.25 accelerating their programme and franking value in the portfolio. Elsewhere Reabold announce plans to drill two wells in California and RockRose announce a 95.2% take up of their tender offer. Finally Infrastrata have completed their FEED early and on budget and now need to find the project funder and EPC contractor.
Malcy talks about the following stocks: Jersey Oil & Gas (JOG), Rockhopper Exploration (RKH), Empyrean Energy (EME), Trinity Exploration & Production (TRIN), Infrastrata (INFA), Far ltd (FAR.ASX) and Zenith Energy (ZEN)
More woe for the oil price this week ahead of the Opec+ meeting at the weekend. Disappointment but not all over yet for Far in The Gambia, Infrastrata have a major gas trader on the hook and Gaffney Cline serve up good news for Empyrean.
The oil price fell last week but has opened better today, a narrow range is still likely. I discuss further good news from Premier as Tolmount is sanctioned, look at Eco (Atlantic) as Exxon surround them, this time in Namibia. I also look at Falcon Oil & Gas as they announce plans for the Beetaloo shale and detail my thoughts on a meeting with InfraStrata.
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.
WTI $68.38+9c, Brent $74.06+28c, Diff -$5.68 +19c, NG $2.74 +8c Oil price After an exuberant ride crude ended the week in further positive territory but of a modest nature. WTI was up 99c and Brent $1.48 keeping the momentum going…
WTI $44.24 +86c, Brent $46.65 +82c, Diff -$2.41 -4c, NG $3.04 +1c Oil price Another up day for crude, whatever next? Well actually a down day probably as the API stats which came out after the closing bell were rather…