Oil fell when some Russian troops left the front line in The Ukraine, with today's news that their kit is still there oil is up $1.40 ish. Sound have made huge progress and deserve a great deal of credit for Phase 1 in Morocco. Kistos are recovering from the VCP hiccup and I hope that investors buy now while it's still cheap. Finally Hurricane is showing quite how wrong the old NED's were and is worth taking another look at.
Malcolm catches up with Andrew Austin, to give us all the updates on Kistos Plc.
Up around $2 last week oil is up another dollar today, the market is not worried about BA.2 the new variant. Kistos has confirmed that it has bought assets from Total Energies in the UK an Netherlands, it looks attractive to me. Saipem gave a whopping profit warning today and San Leon has won its lawsuit with TAQA and Far has received a takeover bid.
2022 Bucket List.
The prospects remain healthy for oil stocks going into 2022. Malcy looks back and discusses the prospects for the year.
The 2021 Bucket List results.
Oil is down again today as the Omnicron variant runs rampant and countries increase lockdown arrangements. Kistos has commented on a press comment that it may be in discussions with Total re West of Shetlands gas assets and Savannah has updated on its approval of its Niger licences and expects news soon on its Admission Document and return from suspension. Zephyr announces that it has a short delay in its Williston Basin acreage acquisition and Genel farms out in Somaliland. Finally Wentworth has announced that it has started the buyback that it launched on Friday.
Oil quiet after weakness recently put down to Covid and SPR releases. Kistos spud their Q11-B well and IOG have an update with only weeks until first gas. JOG have signed up almost the entire former board of Ithaca which is good and news from the GBA is promising. Pharos spud in Egypt, Zephyr has made another excellent acquisition, President update, again.
The trading range for oil seems to be pretty tight, there is little doubt that stocks will continue to fall and that 1Q 2022 will be the battleground. Yesterday Kistos had more good news and today VOG provide an exceptional update. Far have spudded a very interesting exploration well in The Gambia and Coro has a binding JV agreement in Vietnam.
Oil still rises, the IEA are no different to the others, it will be another good week. Zephyr announce that it is ready for the next phase at the Paradox Basin and Kosmos got the offering away at a very decent premium. Trinity are in-line with expectations and so are Gran Tierra.