Oil is still up, but gasoline in the US has rallied more after a ransomware cybersecurity attack on the Colonial pipeline which takes products from the Gulf to the Northeast of the US. Union Jack and Reabold have called in Gaffney Cline for a CPR at West Newton, and Hurricane has issued an operational update. President also update on ops and the oil and gas prices in Argentina whilst Petro Matad are a step closer to field approval. And would you believe that CNR would drill in Guildford station car park?
Oil is better today but weakened yesterday on the Indian virus numbers which were slightly down today. The Opec+ JMMC meeting is today, one day early and the JTC was yesterday and more positive on demand and stock draw. Union Jack have announced a shiny new website which does look very grown-up. Reabold have made a conditional offer to acquire Corallian shares and Egdon have provided interims to end January.
Oil is down a touch this morning, about the same as it was up yesterday...The Suez Canal is open and the market is starting to look towards Opec+. Sound has gone a long way in the bond restructuring and UJO and Reabold are moving ahead fast at West Newton. Pharos has new fiscal terms in Egypt and may also be in a good position on its farm-out. Elsewhere, new directors at Sterling Energy are v good, Savannah has a new website, Scirocco has been written up in a good note from WHI and Cairn have heard that the Indian Government are trying to have the Dutch court of arbitration set aside.
Oil has its head above water today but only just as apart from the UK and now the US the world is vaccinating very slowly. Union Jack and Reabold step up the pace by launching the West Newton online consultation event and Helium One move closer to drilling by appointing a contractor for the Rukwa project. Finally GKP are moving ahead by resuming its 55/- b/d expansion programme.
Oil drifted ahead of tomorrow's Opec + meeting but has rallied today after more positive news from the pre-meeting. JOG announce an exciting concept select update with fantastic numbers ahead of the farm-out, due imminently. Reabold has sold part of its Corallian convertible for £500,000.
After all the Hullabaloo oil was even last week, today however it has tipped upwards again. I look at Chariot who have signed a collaboration Agreement with Subsea Integration Alliance for Anchois. Angus Energy are positive after news that their loan has seen substantial subscription. President update on 2020 and give guidance for 2021 whilst Echo publish their bond restructuring details.
Yesterday oil got caught up in the market sell off and the great retail fight against the horrible hedgies. Underlying stock inventories were good and crude is up again today. Genel has received payments from the KRG for December production at Tawke and...Sarta! Union Jack announce a new technical presentation on West Newton which is very positive and Reabold announce a fund raise of £7.5m. Things are picking up slowly at VOG which I guess is how the new management would like to see it.
Oil is drifting this morning after further virus fears re-emerged in China. HitecVision is to bid for Exxon's Central and northern North Sea interests and Union Jack and Reabold update positively on West Newton. Pharos has raised $11.7m to get going on drilling operations in Egypt and Falcon has continued success at Kyalla.
It looks like West Newton has come in big time, well done the believers. And Zephyr are getting closer to drilling in the Paradox Basin.
WTI $42.42 +52c, Brent $44.96 +76c, Diff -$2.54 +8c, NG $2.65 +6c Oil price Another good week making one believe that there are indeed better opportunities should the current good ...