Oil remains perky, IOG have a technical on the rig when it arrived at Southwark. The good news is that with Blythe and Elgood completed first gas is still expected in Q4 2021. And President has a big round up and all parts of the business are going well.
First day of the month and quarter and with an Opec+ on Monday there are no prizes for bravery in oil markets. Union Jack and Reabold are disappointed about the planning decision at West Newton but an appeal is probably likely. Scirocco completes its acquisition Echo has restructured its loan. San Leon note production news from Decklar and I cover results from the 15 sets yesterday including President and Getech as well as results from Zephyr with an interview with CEO Colin Harrington and from Savannah and an interview with CEO Andrew Knott.
Oil rallies in stock data and waits for the FOMC. Good progress from JOG at the GBA, IGas gets on with geothermal and hydrogen and Longboat at last have wells to talk about. Advance looks to be in a very strong position at Buffalo and President have an operating update.
Oil rallies over 8% in the last two days, always likely as it was oversold after the recent fall. Excellent news today for the Wressle partners, Egdon, Union Jack and Europa as they release test data that shows flow of 500+ b/d. An interesting strategic investment by Hunting today and President releases results from last year. Finally, Prospex have received a valid call for a GM to remove the board.
Oil is quiet and probably dependent on the EIA inventory stats this afternoon. IOG has committed to Scope 1 & 2 Net Zero status as of 2021 and President update regarding Argentina and Paraguay. Finally Trinity announce the death of Executive Chairman Bruce Dingwall.
Oil is staying put with Brent at $75+ and WTI at $74+ with the agencies all scheduled to report and likely to firm up demand numbers I suspect. Kistos has started its life very strongly and updates today and ever solid Serica shows good results from its Columbus development well. Zephyr has got under way with the State 16-2-LN-CC well and also some non-dilutive funding for additional data acquisition. President has an operational update as does Block and SDX announced a successful well in Egypt.
Oil continues to rise after the naysayers got it wrong so spectacularly this week and the EIA inventory stats showed a draw in crude and gasoline as demand grew. President continue to find further investments for Atome this time in Europe and Empyrean has raised money for Jade.
The Opec+ meeting is underway and with all in their favour the outlook is bound to be good one way or another. Scirocco are happy with the way things are looking in Tanzania and Chariot have appointed a new but well known to them drilling Manager. President has detailed the spin off of Atome and Block seem to be not worrying about a 44% vote against the Chairman at their AGM.
The oil market is drifting somewhat in thin news but with all three agencies due to report this week more data is expected. Zephyr has announced a serious move to carbon neutrality and President finally has a farm-in partner to drill in Paraguay.
Oil is better again today after OK API stats after the close and a rally at the death last night. Genel announces KRG payments, Challenger spud at Saffron-2, UJO/Egdon and Europa have permitting at Wressle. President update from Argentina and Paraguay and I interview David Minchin, CEO of Helium One Global.