Oil takes a breather as WTI October contract expires bur stocks are down. Sound are very positive about things going very well at Tendrara and Molecular Energies looks very exciting. Predator reported the other day, interims show much going on in Morocco as well.
The oil price was boosted by the arrival of the hurricane season as Idalia swept across the Gulf of Mexico and non-essential staff were removed and key regional pipelines were shut. More on inventories tomorrow but the API saw a draw of 11.486m barrels. I write up CEG, with more tomorrow and Predator who have updated on Morocco. Finally Eco Atlantic are looking good right across the bulging portfolio. Finally SDX have what looks like a great deal in Egypt.
Oil is better today after Opec cuts start to dig in. I interview PetroTal CEO which is fascinating. Jadestone explain why Montara went down again, and Predator publish a prospectus.
Oil remains strong, today Chariot announce the licence acquisition we have been waiting for and San Leon has extended its dates for the current complicated deal. Also UOG say that Quattro have not yet completed the deal for Maria and Predator have raised £10m. Finally Eco (Atlantic) has released full year results which are of course historic.
Oil remains firm despite some data headwinds. Hunting has announced collaboration with CRA Tubulars which is normally worth watching and Predator have released more information from MOU-4. Rockhopper have some good news with regard to its arbitration and Trinity has said that the Jacobin well has sidetracked but encountered the zones they are looking for. Finally Gran Tierra updated with good, increasing current production numbers.
A modest fall yesterday as markets worried about US inflation data due tomorrow but in China the Government extended the loans to the property sector in a bid to perk up the economy. US retail gasoline was inconsequential, up a tick last week, down 4 cents m/m but still over a dollar off this time last year. Chariot has raised money as it gains a fascinating block near Anchois and Predator have now moved to rigless testing now MOU-4 reaches TD. Eco Atlantic has also raised money, about $10m but with no dilution as it prepares for action on Block3B/4B in South Africa. And Angus updates on its bridge facility.
With the US shut for Independence Day oil is trading very quietly. Today JOG has two very positive announcements and Predator is back in the Guercif. And Longboat has added a. licence via a split of a previous play.
Oil fell ahead of the Fed meeting which announces rates tomorrow. Today Sound have a sparkling update, Pharos have blocks 125/6 extended by two years which is excellent. IOG also update and news there is good as well. Touchstone have won their preferred block in the Trinidad licence round as have Trinity. Angus have shown flexibility at Saltfleetby and Predator have updated with a difficult but what looks like an ultimately successful MOU3. I update on SDX and Reabold from yesterday on a policy I can't understand.
Oil is better today ahead of Sunday's Opec meeting. Today Predator announce imminent spud in Morocco, Hurricane will hand over all the divvis to shareholders ahead of next week's Court appearance. And Reabold yesterday delayed the LNEnergy deal as did Predator and Challenger in Trinidad.
Oil fell again yesterday but there are still many forces at work, right now its a strong greenback. Today I look at UOG, back winning at Abu Sennan and Gran Tierra whom I saw recently. Challenger and Predator get a delay and Trinity are still becalmed production wise anyway.