Oil fell last week with interest rate worries leading the charge. Today DEC announces the circular for the tender offer to the shareholders for dividend options. Also JOG and Serica announce the completion of the farm-in by SQZ into the GBA. Finally i3 update the market with production in line with guidance.
Travelling today so short coverage of Chariot who are updating about imminent activity at Loukos, onshore Morocco. Also Union Jack who have made a big step into a JV in the USA and Europa who are delighted that the FEL 4/19 block has been extended, potentially huge for their Irish portfolio. I cover Gulfsands who again are publicising the position in Syria and and project Hope and Jersey Oil & Gas who are updating on what is a. very exciting time at the GBA. Finally Beacon where it is hard going in Germany.
Trade is quiet as Thanksgiving Day dawns, I wish a very happy holiday to all those over the pond. Today JOG has made an excellent farm-out of the GBA to Serica which is a win/win situation if ever there was one. And Serica is very wise to be picking up a 30% stake in the asset. Longboat added to its presentation on its portfolio and UOG announced that the preferred partner in Jamaica has walked.
Oil has rallied today after a bad week. Today JOG has announced that along with NEO they have buy the FPSO they need for the GBA. And Reabold has topped up its holding in LNEnergy.
Interims from JOG but really show just how much has, and is going on there. Huge upside not to be sniffed at...
With the US shut for Independence Day oil is trading very quietly. Today JOG has two very positive announcements and Predator is back in the Guercif. And Longboat has added a. licence via a split of a previous play.
After the weekend oil doesn't know how to react unchanged today. I look at IOG who have a very good result at the Blythe H2 well and will be upping production. Zephyr finals are as expected and Trinity have early indications of success at Jacobin. Last week Chariot had figures with exciting potential for Anchois partners, Sound completed its debt issues and is now clear to move ahead at Tendrara and JOG completed on the GBA farm-out, a fantastic deal.
Oil has risen by another dollar today, despite poor Chinese economic data. IOG have had a slight problem at Blythe H2 but are hoping to sort out the problem. JOG have had approval for extending and farming out the licences at the GBA. Egdon and partners have run into a problematic Planning Inspector and Gulfsands have their annual report out. And Jadestone cap a bad year with a raise of equity and working cap and an Open Offer but it's turnaround time and elsewhere good finals from i3.
A quarterly update of the Bucket List to reflect recent performance as well as a year/year check.
Oil was unchanged, inventory stats were good but US data poor. Jersey Oil & Gas has revealed a cracking deal with NEO that unlocks the value for the GBA with much more to come. Scirocco is also looking good as the news from EAG is very promising whilst Hurricane is going out with a whimper. And yesterday Serica gave a very good reserves report.