Oil fell yesterday as markets were cautious about the Opec+ deal but have rallied this morning. Jadestone are up and running in Malaysia with almost immediate effects and Pantheon management has upgraded its views on resources.
Oil is steady enough after the Opec+ meeting went into no deal mode but the expected rally has yet to emerge. Predator has announced completion of the MOU-1 well in Morocco with gas present. Jadestone has received an allocation of gas in Indonesia and IGas has announced its RBL redetermination and Zephyr are well on their way to spudding again at the Paradox Basin.
With the month, quarter and interim ending tonight and the Opec+ meeting tomorrow books are flat ahead of the US Independence holiday weekend. Last night the API said that crude drew 8.2m barrels. VOG update on trading, Union Jack and Egdon announce a short delay at Wressle and Egdon has raise money this morning. Zephyr share their thoughts on Paradox, its bigger than you think...Hurricane heeded the High Court and the NED's have all resigned, the shares rose 25% on the back of that and Crystal Amber are vindicated. Positive news from Advance and Getech make up the pack...
Oil is modestly holding its ground today and with a fair wind will be up on the week despite the attempts of two of the reporting agencies. Predator update on Morocco ahead of their drilling and I look at the LNG situation whilst Zephyr are joining the OTC where friendly Americans might like to buy the shares. Gulf Keystone update on growing production at Shaikan and Jadestone confirm their dividend.
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.