On the move today will cover more later, in the meantime DGO confirms that the EdgeMarc Energy deal has been approved adding a modest but valuable portfolio to the company. Reabold and Union Jack have announced that testing at West Newton has resulted in what represents a potentially significant oil and gas discovery. This should be transformational for both companies. Finally PetroTal has 2Q figs but subsequent events are pushing the company fast forward with much more to come.
Excellent progress by PetroTal this morning with the latest well converted to an oil producer at above pre-drill estimates. Also good news for patient Bahamas shareholders as it looks like, subject to funding of course that a well could be drilled in 1H 2020.
I look at the PetroTal update which confirms my observations in the last note that the company is in a strong position with excellent opportunities going forward.
Tagged with: PetroTal Corp
Oil prices rallied ahead of the Independence Day holiday in thin trade, EIA stats were not as good as the API but the market was in holiday mood. I initiate coverage on PetroTal Corp where I met CFO Greg Smith recently and find the story having significant potential. Finally Predator has good news from Trinidad where the CEC is issued and work is ready to get under way.