Another good day yesterday in the oil market although some has been given back this morning after inventory figures disappointed. Premier come in with another cracking operational statement and have cut the debt by more than expected. Petro Matad announce some of their plans for 2019 drilling and Angus Energy receives a very odd letter in the post. Finally Aminex have beefed up the board and its advisors, hopefully a sign of things to come.
No news from Opec+ until later we think, uncertainty in the market just now. Another great well from President in Argentina and with one still drilling they will end the year on a great note. Sound have spudded TE-10 at Tendrara whilst Ophir have a good discovery and a dry hole of less importance. Premier are firing on all cylinders production wise and have also spudded the Mexico appraisal well whilst Tower now have a rig for its Cameroon well 2H 2019.
Malcy talks about the following stocks: Sound Energy #SOU, Premier Oil #PMO, President Energy #PPC, Faroe Petroleum #FPM and Empyrean Energy #EME
Oil prices rally on talk of 1.4m b/d cuts, Sound are at TD in Tendrara and Echo have an upbeat operational update. Zenith figures only the start if things go well this quarter and at Faroe and Cairn they have a success at Agar but Cairn has a duster at Ekland. Premier are operationally in fine form again with much to come, Catcher the star but Tolmount and Mexico looking exciting with appraisals upcoming. Wentworth are still being paid which is good but man cannot live on Mnazi Bay alone, over at Enteq things are improving for Martin Perry.
The oil price ends the week on a high, the first for a while. I talk about the Premier Oil meeting and the positive outlook for Sea Lion with Rockhopper, I also discuss Petrofac selling Greater Stella to Ithaca. And disappointing news from Bahamas Petroleum whose suitor has left them at the altar.
A flash blog today on the Premier intermission and news from Aminex.
Malcy talks about the following stocks: Premier Oil #PMO, Trinity Exploration & Production #TRIN, Faroe Petroleum #FPM, SDX Energy #SDX, Independent Oil & Gas #IOG and Falcon Oil & Gas #FOG
The oil price fell last week but has opened better today, a narrow range is still likely. I discuss further good news from Premier as Tolmount is sanctioned, look at Eco (Atlantic) as Exxon surround them, this time in Namibia. I also look at Falcon Oil & Gas as they announce plans for the Beetaloo shale and detail my thoughts on a meeting with InfraStrata.
Interim bucket list The bucket list has been going now for just under three years, it started when a leading Fund Manager asked me to put together a selection of stocks that would make a decent return when the oil…
Tagged with: Amerisur Resources
, Echo Energy
, Eco Atlantic Oil & Gas
, FAR Ltd
, Faroe Petroleum
, Genel Energy
, Hurricane Energy
, Jersey Oil & Gas.
, Pantheon Resources
, Premier Oil
, President Energy
, Reabold Resources
, Rockhopper Exploration
, Savannah Petroleum
, SDX Energy
, Sound Energy
, Trinity Exploration & Production
, Victoria Oil & Gas
WTI $70.38 -$3.73, Brent $73.40 -$5.46, Diff -$3.02 -$1.73, NG $2.83 +4c Oil price Oil prices crashed yesterday amidst a welter of news, ironically not all bad which left traders to be frank, a bit shocked. Primarily it was the…