Another rally from oil after the comments about Opec+ production crept into the market. At Union Jack the capital reduction update paves the way for a dividend. Predator have FY 2021 figures and Angus are very close to first gas at Saltfleetby. I speak to Marshall Abbott, CEO of Arrow Energy Corp which is highly illuminating and Trinity starts a six well drilling programme and SDX spud MSD-23.
Oil is continuing to drift with the usual suspects responsible, at the moment the underlying remains pretty strong based on product demand. Zephyr have come up with a novel way of monetising the Paradox Basin in the short term whilst waiting for gas infrastructure. Challenger announce more activity on its existing portfolio with workovers, recompletions and swabbing in the short term. Savannah announces its figures for later today and also a retail Q&A and finally Predator have mobilised a huge law suit against Challenger for historic activity in Trinidad.
Oil is still quiet, up just under a dollar this afternoon ahead of the EIA inventory stats. Gulf Keystone announce a $50m special dividend which along with KRG payments bodes well for the shareholders. Petrofac announce a contract with bp's GTA project in Africa and Predator remind us that Mag Mell is crucial to Ireland's energy supply. Finally, SDX has accepted a bid for the company of 10p in shares from Tenaz from Calgary, what has life come to?
Oil had a big rally, a shortage is slowly appearing around the world particularly in products. An AGM update from Genel which is positive and a detailed update by Predator. Finally results from Touchstone show how cheap that stock is.
Oil is down around $6 this morning after it became clear that President Biden is about to announce a further, more substantial release of stocks from the US SPR. Chariot has announced that the latest Anchois well is bigger and better than expected and will be developed more quickly than previous expectations. Upside is huge, a multiple of the current share price. Predator has confirmed that it has raised £1.035m.
Another huge day for oil, as I write Brent is up $8.41 at $131.62... Predator has a corporate update and Prospex has good news from Spain.
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.
2022 Bucket List.
The prospects remain healthy for oil stocks going into 2022. Malcy looks back and discusses the prospects for the year.
The 2021 Bucket List results.