Oil drifted in the end last week, Iran shooting down a civil airline flight somewhat dented the passion against the Great Satan’s. Sound Energy has continued to work though the EIA and sundry diligence for its work in Morocco and PetroTal Corp has yet again over-delivered against market expectations. Finally, Falcon Oil & Gas has had a minor operational delay which will be sorted by Origin sidetracking the well.
Oil recovered yesterday after initially falling on an API report that showed a build in stocks, the subsequent EIA report showed a draw of 1.1m barrels and oil recovered to be roughly even on the day. Echo has announced that its rig is on the move and should be ready to drill the CLix-1001 well by the end of December. DGO has announced a new NED as well as announcing that the 2Q divvi will be paid on 20th December and a sterling equivalent of 2.65p a share. PetroTal has also appointed two new NED’s after recently the Chairman of the Board moved to the non board position of CFO. And Touchstone announce that the Coho-1 well has produced well making it a red letter month for the company.
Tagged with: Anglo African Oil & Gas
, Chariot Oil & Gas
, Coro Energy
, Diversified Gas & Oil
, Echo Energy
, Eco Atlantic Oil & Gas
, Hurricane Energy
, PetroTal Corp
, Predator Oil & Gas
, Premier Oil
, Reabold Resources
, Rockhopper Exploration
, Savannah Petroleum
, Touchstone Exploration
, Tullow Oil
, United Oil & Gas
, Zenith Energy
Far has announced in the last few days a substantial conditional placement which along with senior and junior debt will fund the development of the Sangomar Oil Field. Far are now in a very strong place as the development goes ahead and of course important drilling in the rest of the portfolio. PetroTal has announced that the 5H well on the Bretaña field has come in flowing 8,250 b/d ‘exceeding management expectations’. Touchstone has also come in with a real barn-burner as the Cascadura-1 well ‘a significant oil discovery’.
very promising early news from Echo Energy in Tapi Aike and now we wait for the results of testing. PetroTal has confirmed the dividend promised at the float.
Happy Thanksgiving and whilst today and Black Friday means very little trading in oil markets until Monday it is a time of the year fraught with risk especially with the Opec+ meeting next week. I welcome Longboat Energy to the market with its former Faroe management and talk about Jadestone, also with a very high quality team. With Bahamas Petroleum preparing for 2020 drilling they are starting the necessary steps for local investors and the environmental needs.
Very positive update from PetroTal this morning, well going according to plan and guidance increased.
Tagged with: PetroTal Corp
Hurricane has started DST at Warwick West, PetroTal 3Q are dead in line and Wentworth narrow the guidance but sound positive on production and the financial situation going forward.
Oil ended up last week after mainly positive news from trade talks and Barkindo…Today i look at the Jadestone acquisition which looks very handy and also at Touchstone who have made a great discovery at their Coho-1 well in the Ortoire field in Trinidad. I also take a good look at one of my favourites, having recently met the PetroTal management I am even more confident in my forecasts.
The moratorium on fraccing is interim in nature and quite possibly an election stunt but has hit IGas but maybe too much as it has a substantial conventional business. Rose Petroleum starts its strategic re-shaping with an asset deal and a small raise. Echo has extended is Acquisition Agreement waiting a waiver, Coro spuds the Tambak-1 well and at PTAL Douglas Urch takes over as CFO.
Oil drifted with the IMF cutting GDP forecasts again. A smart move by Echo Energy as they buy some production with upside to add to the now more balanced portfolio. At PetroTal the 4H horizontal well has come in above expectations and 20% cheaper than budget and with investments in the production facility capacity is rising. DGO are continuing to up their governance game ahead of joining the premium part of the LSE and President has done a smart deal taking more gas through its pipeline and also some oil, for nothing and the seller is buying $1.825m of President’s stock.