Pharos Energy Archives - Malcy's Blog

Oil price, Serica, Longboat, Pharos, Hurricane, Zephyr, Lekoil, Decklar. And finally…

Oil is quiet, the reporting agencies are out this week and the EIA were somewhat bearish in their comments. They don't generally take into account the politics of the situation and have based their views on supply and demand data. A good result from the Rhum R-3 well for Serica and Longboat announce a raise of £35m and two of three deals to get them started. Pharos update on Egypt and Vietnam but no comment yet on the farm-out whilst Hurricane update on production as they will until 5th July. Decklar has acquired the opportunity to participate in the Asaramatoru field in Nigeria, located in OML 11. I speak to Zephyr CEO, Colin Harrington who tells me about all things Paradox and their new environmental brief and Lekoil Ltd worry about their CEO...

Malcy2021-06-10T13:00:45+01:0010 June 2021|Categories: Daily Blog|Tags: Decklar Resources, Hurricane Energy, Lekoil Ltd, Longboat Energy, Pharos Energy, Serica Energy, Zephyr Energy|0 Comments

Oil price, Savannah, Sound, Chariot, PetroTal, Longboat, IGas,

Oil was a dollar off the top as I write with the Opec+ meeting ongoing. Figures from Savannah Energy late on Friday, Chariot close the AEMP deal and PetroTal update positively. Longboat Energy have a deal and a raise into the bargain, IGas get planning for the Stoke geothermal project, Pharos update and Sound remain confident that the tax is not due.

Malcy2021-06-01T17:11:59+01:001 June 2021|Categories: Daily Blog|Tags: Chariot Oil & Gas, IGas Energy, Longboat Energy, PetroTal Corp, Pharos Energy, Savannah Energy, Sound Energy|1 Comment

Oil price, PetroTal, JOG, IGas, Pharos. And finally…

Oil is quiet, the IMF brought out upbeat GDP figures which seem to support the Opec+ view on the 2nd half economic growth and the API showed crude inventories drawing by 2.6m barrels. PetroTal have had an upbeat statement and JOG has completed the last of the GBA asset deals. IGas have performed well in the conventional assets and Pharos have got a lot of good news to look forward to.

Malcy2021-04-07T15:56:54+01:007 April 2021|Categories: Daily Blog|Tags: IGas Energy, Jersey Oil & Gas., PetroTal Corp, Pharos Energy|2 Comments

Oil price, Sound, Union Jack/Reabold, Pharos, Scirocco, Savannah, Sterling, Cairn.

Oil is down a touch this morning, about the same as it was up yesterday...The Suez Canal is open and the market is starting to look towards Opec+. Sound has gone a long way in the bond restructuring and UJO and Reabold are moving ahead fast at West Newton. Pharos has new fiscal terms in Egypt and may also be in a good position on its farm-out. Elsewhere, new directors at Sterling Energy are v good, Savannah has a new website, Scirocco has been written up in a good note from WHI and Cairn have heard that the Indian Government are trying to have the Dutch court of arbitration set aside.

Malcy2021-03-30T14:05:35+01:0030 March 2021|Categories: Daily Blog|Tags: Cairn Energy, Pharos Energy, Reabold Resources, Savannah Energy, Scirocco Energy, Sound Energy, Sterling Energy, Union Jack Oil|0 Comments

Oil price, Union Jack/Reabold, Pharos, Falcon. And finally…

Oil is drifting this morning after further virus fears re-emerged in China. HitecVision is to bid for Exxon's Central and northern North Sea interests and Union Jack and Reabold update positively on West Newton. Pharos has raised $11.7m to get going on drilling operations in Egypt and Falcon has continued success at Kyalla.

Malcy2021-01-22T13:56:33+00:0022 January 2021|Categories: Daily Blog|Tags: Falcon Oil & Gas, Pharos Energy, Reabold Resources, Union Jack Oil|2 Comments

Oil price, Gulf Keystone, Pharos. And finally…

Oil remains strong as does the UK gas price, now up at 80p... Today Gulf Keystone have an operational and corporate update and Pharos also update on trading.

Malcy2021-01-13T13:46:41+00:0013 January 2021|Categories: Daily Blog|Tags: Gulf Keystone Petroleum, Pharos Energy|0 Comments

Oil price, Genel, Sound, Pharos, Hurricane. And finally…

Oil has drifted again today, the delayed EIA inventory stats were hit by Laura, although crude built 2m barrels products drew as refinery utilisation fell with some refineries still closed. Genel announces that they may raise up to $300m to replace existing facilities, wise move from a position of strength. Sound's interim statement is short, nothing new but we know the new management are flat to the boards right now. Pharos has received permission for the full field development plan at TGT and Hurricane have taken a sharp knife to the CPR under new management..

Malcy2020-09-11T13:44:15+01:0011 September 2020|Categories: Daily Blog|Tags: Genel Energy, Hurricane Energy, Pharos Energy, Sound Energy|0 Comments

Oil price, UJO/Egdon, Pharos, President.

Oil stays high as Hurricane Laura approaches the Texas coastline. Union Jack and Egdon have received proceeds from Humber and Pharos has announced interims and extended prospects in Vietnam. President has much going for it in 2H 2020 with a drilling campaign and are back in talks with NOC re Paraguay.

Malcy2020-08-26T17:53:30+01:0026 August 2020|Categories: Daily Blog|Tags: Egdon Resources, Pharos Energy, President Energy, Savannah Energy, Union Jack Oil|0 Comments

Oil price, GMS, Pharos, Utd O&G, Trinity. And finally…

Oil continues to strengthen against most commentators expectations. A gradual rise like this is better than sudden movements although with WTI at $43.34 and Brent at $46.07 is probably enough absent substantial demand rises. GMS are worth a look as whilst they lost their vote yesterday but are in a strong position with little downside. Pharos have extended TGT and confirmed their RBL situation. United Oil & Gas have taken over the 80% interest in Jamaica that Tullow had to discard after recent financial embarrassment and Trinity Exploration comment on potential tax changes post the upcoming General Election in Trinidad.

Malcy2020-08-05T13:29:17+01:005 August 2020|Categories: Daily Blog|Tags: Gulf Marine Services, Pharos Energy, Trinity Exploration & Production, United Oil & Gas|1 Comment

Oil price, Pharos. And finally…

Oil rallied after better than expected inventory stats on the gasoline front where demand is holding up for the time being...Pharos have an update in which they continue cost cutting and are in line with guidance on production.

Malcy2020-07-09T11:40:50+01:009 July 2020|Categories: Daily Blog|Tags: Pharos Energy|0 Comments