Oil rallied yesterday, partly due to reasons expressed here but also due to an unexpected outage in Libya. Jadestone has interims today and whilst have had some operational and political problems I'm confident that they will deliver the goods. Coro is under new management with deals changing its nature. Afentra's future is in front of it as they say but I'm confident Paul McDade is in a strong position.
Oil has recovered after yesterdays fall as the most influences are pushing upwards. More incredibly good news from Zephyr who are rewriting the business school books about how to build an oil company. Jadestone has yet again delayed Maari, it appears that the N Z Government are behind the delay and Prospex seem to have made some simple mistake on their sums.
The oil price continues to fall with markets as the Fed starts to mention the end of the Taper. Today I look at Helium One who have commenced drilling at Tai-2 in Tanzania and also look at some announcements that have happened whilst I was away earlier this week. DEC completed the Tanos acquisition, I'm sure the next deal isn't far away and Scirocco has a clearer line of sight to selling its Ruvuma stake whilst also having a shout with HE1. SDX had a dry hole at South Disouq but CEO Mark Reid remains positive about the area and over at Jadestone they have updated on guidance and updated on operations.
Last week oil continued its upwards progress by a bit more than a dollar even after the Brent September contract expired at the weekend. Angus has put out a comprehensive operations update which makes the progress achieved by the management this year very solid indeed. Jadestone has completed its Peninsular Malaysia assets of Sapura and UOG has had a success at its AJ-8 development well in Egypt.
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.