Oil fell at the end of last week although most pointers were, and still are, upwards. Jersey Oil & Gas have spudded the Verbier appraisal well which hopefully add a great deal to the partners knowledge of the block. Reabold have also spudded, theirs is in California at Monroe Swell, a name like that just has to come in. If it does it will pay back very quickly. Plexus have won a contract and the shares were up 30%…Egdon gave an upbeat update, Springs Road might well be a lifeline…And Pantheon, having delivered bad news from Winx on Friday said it was all ok today…
Oil may not end the week up, it’s a close call this week but as we see the end of the month February was up 6-8.5% for WTI and Brent and they are both up over 26% so far on the quarter and ytd. Pantheon and partners may not have had success at Winx-1 but for them the Alkaid well test which is next is crucial… From yesterday when both Petrofac and Hunting provided excellent figures and also good news from Genel who got KRG approval for the Chevron deal.
Oil had a very good week, Brent particularly so, after realisation that production cuts were indeed real filtered through. Sound Energy confirm that TE-10 is indeed a discovery and have made an upward revision of net pay numbers after a report from ERCE. I met with Eco Atlantic last week and both Gil and Colin remain very upbeat ahead of the drilling in Guyana. A profit warning from Plexus this morning was down to lower margins and higher overheads whilst Anglo African Oil has got some money back from SNPC but would have preferred a higher stake in the licence. Finally a word on AAA who are getting involved in Comarco Ports in Mombasa…
Malcy talks about the following stocks: Sound Energy (SOU), Amerisur Resources (AMER), Faroe Petroleum (FPM), Ophir Resources (OPHR), Aminex (AEX), Victoria Oil & Gas (VOG), Pantheon Resources (PANR), Anglo African Oil & Gas (AAOG) and Rose Petoleum (ROSE)
Another bad day for oil as the Fed concerns leave markets across the board taking money off the table. Savannah Petroleum add serious value to their Seven Energy Transaction and Pantheon are buying into Alaska with a raise at 15.25p.
Flash blog on President completing Rio Negro acquisition with all the benefits that brings. Pantheon finally bring on VOS#1 albeit at a modest level and Eco Atlantic completes its farm-out to Total thus firing the starting gun for Orinduik …..
The oil price ends the week on a high, the first for a while. I talk about the Premier Oil meeting and the positive outlook for Sea Lion with Rockhopper, I also discuss Petrofac selling Greater Stella to Ithaca. And disappointing news from Bahamas Petroleum whose suitor has left them at the altar.
Interim bucket list The bucket list has been going now for just under three years, it started when a leading Fund Manager asked me to put together a selection of stocks that would make a decent return when the oil…
Tagged with: Amerisur Resources
, Echo Energy
, Eco Atlantic Oil & Gas
, FAR Ltd
, Faroe Petroleum
, Genel Energy
, Hurricane Energy
, Jersey Oil & Gas.
, Pantheon Resources
, Premier Oil
, President Energy
, Reabold Resources
, Rockhopper Exploration
, Savannah Petroleum
, SDX Energy
, Sound Energy
, Trinity Exploration & Production
, Victoria Oil & Gas
WTI $71.01 +68c, Brent $75.33 +88c, Diff -$4.32 +20c, NG $2.75 -4c Oil price With the rally of some sort at the end of the week, crude posted only modest falls after black thursday. WTI fell $2.79 and Brent $1.78,…
WTI $66.64 +28c, Brent $76.74 +86c, Diff -$10.10 +58c, NG $2.96 +2c Oil price A bit of same old, same old as the market scrabbles for information now only eight days ahead of the Opec meeting. As I mentioned yesterday…