Oil is up again after the Opec+ meeting closed reaffirming existing production levels. The API stats showed a 4.32m build ahead of today's EIA numbers. Kistos announced the Tulip bond and a presentation to investors on Friday, in addition I interview Chairman Andrew Austin. And President further operational news and Chairman Peter Levine remains full of beans.
Oil has weakened a bit as India in particular is reporting much worse virus numbers on a daily basis. Wentworth has reported excellent finals and a 27% hike in the divvi. Kistos was priced at 155p but that looks way too cheap to me as a few blue chip instos climbed aboard in the raise. President have more good news on the operational front and Hunting remains best in class as proven in the year since negative WTI prices.
Oil is up again today, the Opec report pushed back the demand rises but they are still overall positive for H2. The API stats showed a decent draw in crude but mixed in products. Genel has announced a useful bunch of payments from the KRG and Kistos has launched a PrimaryBid offer along with a placing and subscription. Far has received news that Remus Horizons has returned for a potential bid, the day before the deadline. Sound has done a crucial bondholders deal very important for operational development going forward. And UOG has announced 'material' upgrade to its Abu Sennan field reserves in Egypt.
Oil is flat so hardly changed on the week. Kistos announce their first deal, Predator raise and Far call the meeting. Getech also raise in their future restructuring.
After all the Hullabaloo oil was even last week, today however it has tipped upwards again. I look at Chariot who have signed a collaboration Agreement with Subsea Integration Alliance for Anchois. Angus Energy are positive after news that their loan has seen substantial subscription. President update on 2020 and give guidance for 2021 whilst Echo publish their bond restructuring details.
The 2021 Bucket List.
Oil remains quiet ahead of tomorrow's Opec+ meeting but good news on the virus vaccine is announced as the UK approve the Pfizer product. Genel announce that first liftings from the Sarta field have been made and Zephyr have received final approvals for the 16-2 well. I interviews Andrew Austin, Chairman of Kistos yesterday, the link is here and at Echo they have news of VAT in Argentina. Finally UOG announce a programme in Egypt.
Kistos are a close-ended investment company that aim to ease the energy transition. Malcolm and Andrew catch up on why the firm was formed, what they do, and what makes ...
Oil continues to rise Brent is only $1.30 away from the magic $50 level. Kistos arrives on the Aim market today, former RockRose founder Andrew Austin returns with his new vehicle which looks most exciting. Falcon have announced a technical difficulty with its Kyalla well but tell me that it shouldnt be a reason to panic just yet. Finally Pantheon have hired a rig to drill the billion barrel Talitha prospect, ooh err...
WTI $42.42 +52c, Brent $44.96 +76c, Diff -$2.54 +8c, NG $2.65 +6c Oil price Another good week making one believe that there are indeed better opportunities should the current good ...