Oil pretty much unchanged last week, better GDP news from China was offset by more Covid cases there. Savannah have another very positive update and new 2021 guidance. Confidence from Zephyr and I'm not surprised as the upside is substantial. Angus are getting into the legal and corporate strokes on Saltfleetby.
Oil is already rallying and its a busy blog with Genel updating the market, and PetroTal completing an agreement with Petroperu as well as Kosmos making a discovery in the GoM. Also Remus comment on their current targets whilst Falcon have confirmed a discovery in Australia. Finally I interviewed Colin Harrington of Zephyr, surely a ten bagger in a short time...?
Oil was quiet yesterday but is up another 80 odd cents again today on what is being called the 'virus strategy' or common sense as I called it before Christmas. BPC continue to top up finances by exercising a put option getting ship shape for P#1 and other portfolio requirements. PetroTal are also contemplating a $100m bond issue to help restart a drilling programme and to upgrade the CPF-2 for higher throughput. Finally Helium One starts its drilling programme by submitting key environmental studies.
Another good day for oil yesterday and is still modestly ahead today, all a follow up to the KSA actions at the Opec+ JMMC. Today BPC announce a look at portfolio operations and a funding update showing much activity across the board. PetroTal are showing an impressive set of heels as they announce increased production from Bretana following on from the Brazilian export success. Echo yesterday announced further gas sales contract success in Argentina.
Oil continues to rise towards the year end in thin trade, but with a new vaccine today in the UK demand for 2021 looks to be potentially very sound. More good news from PetroTal with news of exports into the Atlantic via Brazil and UOG keep their promies and complete the ASH gas pipeline in Egypt.
Oil remains steady with the January Opec+ meeting next week, President Trump signing the Bill and the UK getting a final Brexit deal. Genel has received money in from the KRG for November sales at Taq Taq and Tawke and is looking strong with Sarta crude being invoiced this month. GKP also received money in from the KRG from Shaikan sales. PetroTal are now, having solved the recent problems, flowing crude into the ONP.
The 2021 Bucket List.
Oil remains steady after a small up week, today it has drifted a bit. JOG has announced further good news from the GBA with much excitement next year whilst Chariot has negotiated key terms for a new licence in Morocco with ONHYM. PetroTal has announced that Gran Tierra has sold most of its holding to Remus Horizons and BPC has added further funding ahead of the P#1 well.
Oil is quiet and should end the week decently up. PetroTal has announced 3Q figures which have been hit by the unrest but will pick up before long. Block make some beneficial changes to the Schlumberger deal and Pantheon have raise some £23m in the absence, so far, of a farm-out deal.
Oil fell as Libya started to up production and Covid cases increased worldwide. The API stats were better than expected with a small crude draw and a build in gasoline and draw in distillates. Another RNS from BPC shows that much is going on, PetroTal have restarted from the Bretana Field and Predator report interims. Aminex are clinging on in Tanzania with a last extension of the longstop date and Echo have interims today. VOG and others yet to come...