Oil price, Pharos, Hurricane. And finally…
Oil continues to run, only a driving season, Opec meeting and debt agreement due... Pharos have an upbeat AGM trading statement and it's almost over for Hurricane as we know it Jim...
Oil continues to run, only a driving season, Opec meeting and debt agreement due... Pharos have an upbeat AGM trading statement and it's almost over for Hurricane as we know it Jim...
Oil, amongst other international markets is waiting, fixated on Fed boss Jay Powell as he tells the world at 6pm what the 25 bp rise will be...Today Genel has filed results which are as always solid and strongly supporting the 12% yield and Pharos has also published a good set of figures. Arrow has also updated the market, this time another excellent well result, my 50p target remains...
Oil rallied strongly as despite the inventory stats I mentioned yesterday oil jumped on economic news and potential further sanctions against Russia. Today Wentworth updates on the takeover by M&P and Afentra update on Angola. Pharos has an extensive reading and operations update and UOG have some encouraging numbers on Maria.
On a day that inflation send markets tumbling oil fell but was off the lows. Today Zephyr have an exciting deal that increases the value of the Paradox Basin and Chariot have interim results. Serica have operational problems at North Eigg and Pharos are looking tidy and about to restart paying dividends. Reabold have done a cracking deal on Corallian but go unrewarded in the market and Helium One are now drilling Q1 2023.
Oil bounced back from being down 2 to finish strongly again yesterday. Chariot announce a new CPR at Lixus with a significant increase in resources. Pharos beat the whisper and are in a strong place in Egypt and Vietnam while San Leon complete the attractive loan and share stake in ELI. Finally Serica also beat the whisper with a very positive update.
Oil is falling due to Chinese demand, Chariot has made a good raise to develop Anchois and push on with the power business. Pharos AGM statement was good and with Vietnam kicking in later this year should be good. Getech are solidly ahead, Hurricane looks cheap as chips and could and should be taken over from here, just imagine what a wealthy parent would do with it...?
After yesterdays rise oil is down around a dollar this morning falling stocks contributed to yesterdays big rally. Today I see a good set of results and very good progress from Sound and Cath Norman has stepped down as CEO at Far. Pharos have received Ministerial approval for their farm-out inn Egypt which sets them fair for Vietnam growth.
Oil fell yesterday with various factors globally joining in. IOG has announced that Elgood has delivered first gas which is helpful and Pharos have good results and a solid statement. Today I also comment on Empyrean Energy who are finally approaching the drilling on the Jade prospect offshore China.
Another up day for oil with diplomatic activity between Russia and the USA over the Ukraine unsettling markets. Serica has had another great statement after a superb year and Pharos has had another Government signature for the El Fayum Concession agreement. Finally from yesterday comments on Far and Gran Tierra.
Oil still very firm, even the EIA can't pour water on the market. Today Predator show a positive CPR in which resource numbers and NPV solidly back up the valuation. Pharos update and announce a big board shake-up and UOG also update from Egypt.