Oil rallied and then some after the US invoked sales from the SPR handing advantage to Opec+ ahead of the Dec2 meeting. PetroTal has some local difficulties in Peru and UOG have an extension in Jamaica. Jadestone take another 10% of Lemang and President announce a bond issue. Block has announced that gas sales from well KRT-39, located in Block XIB, have commenced and I interview Ed Story, President and CEO of Pharos Energy.
Malcy is joined by Ed Story, President & CEO of Pharos Energy, who began life with a position in the far east, but have evolved out of South East Asia ...
Oil quiet after weakness recently put down to Covid and SPR releases. Kistos spud their Q11-B well and IOG have an update with only weeks until first gas. JOG have signed up almost the entire former board of Ithaca which is good and news from the GBA is promising. Pharos spud in Egypt, Zephyr has made another excellent acquisition, President update, again.
Oil falls again after Joe Biden rallies countries to sell down their strategic holdings, only so much this weak tool can do, then its gone...Wentworth announce an MOU with Vitol and SDX restart drilling in Morocco. Pharos yesterday had good well news from Vietnam which makes them even change
Oil drifted off the top last week but is better this morning, Challenger have interims as do VOG. Eco Atlantic have a duster but of limited importance and Pharos move further ahead in Egypt. Finally Helium One start their Phase 2 programme.
Oil is up around a dollar this morning despite some indifferent economic news from China. More importantly the natural gas price continues to run, in the UK it was nearly 200p this morning. A great result for PetroTal at BN-8H gives them a better than expected 7.6m b/d making 15.4m b/d, also Pharos farm-out in Egypt, another very smart deal. Longboat update, things are starting to happen with the drill bit and Petro Matad have interims and are preparing for Heron production next year. Finally Trinity have first result post the tragic loss of Bruce Dingwall.
Oil remains solid especially after a very solid across the board set of EIA inventory stats yesterday. Today Sound Energy have made huge progress in Morocco and with an LNG sales agreement and subscription are looking very strong indeed out there now. IOG have signed up their GSA and gas prices remain incredibly strong which makes first gas in Q$ 21 a mouth watering event. The Wressle partners announce a successful proppant squeeze which should be very helpful for oil production and Pharos have updated on Vietnam and their new RBL.
Oil rallied yesterday and is better again today. Union Jack and Reabold have little say about west Newton, just yet and Pharos looks better in Vietnam. Wentworth have a new NED and Harbour have two profit warnings today on run of the mill operational matters.
Oil is flat, little to say after EIA report was bullish and bearish...Challenger update on Saffron-2 which is in line with expectations and hopefully producing soon whilst Pharos update on Vietnam and a quiet period in Egypt. Finally Hurricane have a monthly update.
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...