Oil is quiet ahead of the Opec meeting which has just started. Today PetroTal announce the commencement of the well 16H and the third ESG report whilst Eco Atlantic have 3Q results. Meanwhile Predator looks forward to the rigless testing programme at Guercif and has signed an MoU with Afriquia GAS S.A.
Oil was down again last week on economic news but is about 75 cents up today. Wentworth are in a dilemma as TPDC are still trying to interrupt the M&P bid whilst PetroTal is coming out of the seasonally tricky dry season. With Beacon having a great uplift in reserves and Jadestone update as well.
Oil has given back a dollar today after a week that WTI gained $4.90 and Brent added $6.31. Today Genel announce that oil is being sold locally and PetroTal update the market on the extremely dry season. Finally, Scirocco has announced the completion of the Ruvuma deal.
Good numbers from Pharos, PetroTal are in the dry season but guidance is unchanged, the yield is not it's 17$ plus 2 for the buy-back. IOG are working hard and in talks with bondholders and Longboat have added to the previous acquisition.SDX continue to impress with deals and Hunting were also very impressive at the Capital Markets Day. Star meantime are all-in on geothermal.
Oil is better today after Opec cuts start to dig in. I interview PetroTal CEO which is fascinating. Jadestone explain why Montara went down again, and Predator publish a prospectus.
Oil remains a bit weak due to poor Chinese trade data. San Leon has come up with a very smart deal that makes it look like the deal will work. PetroTal has again hit all the targets and could yield 20% at this rate whilst UOG have extended the longstop date for Quattro.
Oil is down today after a small bounce while markets adjusted for 4th July. Today I look at Touchstone which has good news on the way from Cascadura and I PetroTal announce record production in Q2. Hunting have also blown the lights out with numbers looking materially ahead of expectations and Petro Matad have finally received approval for block XX. Finally Prospex should be congratulated for first gas at the Selva field.
Oil drifted yesterday on Juneteenth Day and has risen slightly today. PetroTal report the blockade is over and production is good while Afentra havent quite completed with Sonangol yet. Petro Matad results as expected and from yesterday Kistos and Arrow where I have a fascinating interview with Marshall Abbott.
The week started with the oil price falling and is ending much more positively. Today DEC announce divvi conversion rate and PetroTal has received £6.1m from warrant conversion. GKP in their AGM statement are still stuck whilst the pipeline remains shut. Tower Resources have a positive update from Namibia and yesterday Coro announced completion of the Vietnam deal.
Oil has tickled better and will probably be even Stephen on the week. Yesterday the rumours of bilateral talks between the US and Iran seemed wide of the mark but pushed oil down. PetroTal has updated on the blockade, Jadestone launched its Open Offer and I report on Europa's retail presentation yesterday.