Oil recovered yesterday after initially falling on an API report that showed a build in stocks, the subsequent EIA report showed a draw of 1.1m barrels and oil recovered to be roughly even on the day. Echo has announced that its rig is on the move and should be ready to drill the CLix-1001 well by the end of December. DGO has announced a new NED as well as announcing that the 2Q divvi will be paid on 20th December and a sterling equivalent of 2.65p a share. PetroTal has also appointed two new NED’s after recently the Chairman of the Board moved to the non board position of CFO. And Touchstone announce that the Coho-1 well has produced well making it a red letter month for the company.
Tagged with: Anglo African Oil & Gas
, Chariot Oil & Gas
, Coro Energy
, Diversified Gas & Oil
, Echo Energy
, Eco Atlantic Oil & Gas
, Hurricane Energy
, PetroTal Corp
, Predator Oil & Gas
, Premier Oil
, Reabold Resources
, Rockhopper Exploration
, Savannah Petroleum
, Touchstone Exploration
, Tullow Oil
, United Oil & Gas
, Zenith Energy
Opec + completed as per my late report on Friday and cuts of up to 2.1m b/d are up their sleeves for 1Q 2020. Today Predator Oil & Gas announced that they have an option agreement with Star Valley Drilling to drill their Guercit permit onshore Morocco. This could be transformational for the company should it come in. Rockhopper and United Oil & Gas update on Abu Sennan with the latter returning to the market after raising $6.25m. Amerisur Resources have been backed by ISS in their recommendation of the bid by GeoPark.
Good news from Predator in Trinidad as the CO2 EOR makes further progress and SDX gets first gas at South Disouq.
An update on the Solo acquisition plus sundry raise etc, it looks a perfect start for them.
Predator and CERP have announced further updated proposals to heritage and Predator has signed another CA with another operator. P
Good news from Genel this morning as Chevron gets underway with the CPF at the Sarta field ahead of start-up next year. Columbus and Predator announce that work on the CO2 project has moved on successfully and EOR operations are significantly advanced.
Oil prices diverged but all eyes are on Jackson Hole tomorrow. Rockhopper has updated with news on Sea Lion where work has de-risked the project and Phase 1 resources have increased. Predator updates on Trinidad where the first workover has gone extremely well, making the project look increasingly attractive, finally RBD has increased its investment in Rathlin via a £1m investment which ups the exposure to West Newton.
Another see-saw ride for oil which is better this morning after a good day yesterday. Aminex and Solo have released an update about Ruvuma and Kiliwani North which is still taking its time and Predator has interims but a really exciting 2H
Oil finished the week better but is a touch easier today. Predator has announced moves today in both Trinidad and Morocco and Tullow with Eco Atlantic have made a bonanza find offshore Guyana. Reabold and Union Jack have started testing at West Newton.
Oil is quiet and after a modest fall last week traders are uncertain which way to go, with production cuts or GDP cuts? Predator has announced that Ram Head, its Celtic Sea gas discovery will now look more interesting after the Irish govt decided not to proceed with the Climate Emergency Bill. VOG updated by just a few days and are also getting paid, GKP are buying shares back and SDX are sort-of on time with South Disouq…
Oil prices rallied ahead of the Independence Day holiday in thin trade, EIA stats were not as good as the API but the market was in holiday mood. I initiate coverage on PetroTal Corp where I met CFO Greg Smith recently and find the story having significant potential. Finally Predator has good news from Trinidad where the CEC is issued and work is ready to get under way.