Oil has had a good couple of days as we end the month and mainly on the US economic data which showed GDP of 6.4% and another fall in jobless numbers. DGO has made a most interesting acquisition away from Appalachia down in Louisiana and Jadestone has also had the cheque book out in Malaysia. President has had another great well result and remains rightly confident whilst Hurricane has crash landed with the bond holders pushing the equity players out of the plane.
Oil fell yesterday virus numbers were up again in India and now Japan has sounded the warning as well. Inventory stocks were mixed neither helping or hindering. Today its results from PetroTal who to be honest would prefer we looked at this year not last and so would Jadestone who pushed back capex which should repay this year. Its ben a mare for Providence Resources where yet again Barryroe has hit the buffers, another spell in A&E for them. Getech update positively and Empyrean get a tax rebate from the US. I also have another look at Far/Remus carried over from yesterday which has been a real FARce as Remus appears to be a man of straw.
Oil is off a bit this morning but is up nearly $4 on the week, another good show for the asset class. Jadestone issue 2021 guidance and announce a return to investment and growth. And I interview George Lucan CEO of ANgus Energy.
The oil market is quite placid at the moment, New York is hunkering down for the big storm on the way. San Leon is back on track with the Nigerian funding and the Wressle partners have announced free lowing oil. Jadestone updates on 2020 as does UOG with guidance as well.
The 2021 Bucket List.
Oil has continued its rally and Brent has broken the magic $50 level and has held over a number of sessions. Genel have announced the good news that the KRG override payments are to resume with the January 2021 invoice. Jadestone has said that it is about to close the Lemang PSC acquisition 'within the coming days'. Finally, yesterday Sound announced that it is continuing to negotiate its Euro debt but still needs more support for the 75% needed to cross the line which it is progressing.
Oil prices have risen after the Opec+ meeting came to an agreement which whilst not perfect by adding 500/- b/d from January appears to have done the trick and was within the range of expectations. Today sees Helium One's debut on the Aim market of the LSE with all that entails and Petro Matad update on the COVID virus holding up discussions on the Exploitation Licence in Mongolia. Jadestone give a trading and operational update, having acted with some caution this year JSE looks to be in a strong position to benefit next year.
Oil continues to rise, Brent is $45 this afternoon as the vaccine, Opec+, Asian demand data and even the inventory stats are creating a perfect storm, even G Sachs are helping by cutting their oil price forecasts...I look at Far who have sold Senegal WI today and Jadestone who are looking good after an encounter with Inpex in arbitration. Finally we mourn the early loss of our friend Graham Cowdrey at the age of 56. RIP
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 remains mixed, with tilting downside as virus numbers continue to rise. Genel has successfully completed the $300m bond issue and also had August money from the KRG. San Leon continue to show that its model is really working, buy this share and the yield might be 30%... BPC actually has a date to drill Perseverance#1 at Christmas and Jadestone has pushed back the Maari deal due to the General Election and Pantheon has some numbers from Talitha.