Oil price, Union Jack/Reabold, Premier, Block. And finally…

Oil remains very quiet, a modest warning from the Opec meeting to keep production under control. The West Newton partners announce that the operator has submitted screening requests for two new potential hydrocarbon well sites with substantial potential. And Premier has put together an imaginative and bold refinancing offer in order to finally see the end to the debt pile it has been labouring under.

2020-08-20T16:19:26+01:0020 August 2020|Categories: Daily Blog|Tags: , , , |2 Comments

Oil price, PetroTal, Union Jack/Reabold. And finally…

Oil continued to rise slowly yesterday, now still at peaks last seen on March 6th. Opec's technical committee meet today ahead of the JMMC tomorrow with compliance at 97%. PetroTal report 2Q financial and operational results, during the quarter the 6H well came onstream on time and under budget. The quarter is self explanatory and the recent shut-in of the Bretana field looks likely to be over soon. Rathlin Energy as operator have updated on ops at West Newton where it looks like at long last the drilling operations are imminent.

2020-08-18T13:31:32+01:0018 August 2020|Categories: Daily Blog|Tags: , , |0 Comments

Oil price, Reabold/Deltic, Echo, Trinity. And finally…

The Opec+ JMMC provided about what the market had expected, at least there were no major disappointments in the announcement. Reabold has made an unsolicited 'non-binding' sort of offer for Deltic worth 8p and valuing them at £12.34m which looks kind of cheap for everything Graham Swindells has done to set up the company with the Shell farm-out. Echo are restructuring in Argentina pushing out costs for Tapi Aike in return for an option to get back in. And Trinity are still modestly increasing production which is an achievement given their modest spend and cost control.

Oil price, PetroTal, Block, Reabold And finally…

Oil drifted on inventory news but has rallied a bit this morning as Opec committees meet. PetroTal notes that it has completed the recent placing and adds detail to the structure of the Petroperu deal. Block Energy say that Georgia is opening up and that the EPF has arrived from Canada. Reabold also say that Romania is also easing down and the mobilisation of the testing rig is under way.

2020-06-18T14:05:55+01:0018 June 2020|Categories: Daily Blog|Tags: , , |0 Comments

Oil price, PetroTal, Union Jack/Reabold, Touchstone, GMS And finally…

Oil rallied a bit yesterday and has risen modestly today, a more positive report from the IEA showing increased compliance and some demand recovery is responsible. I look at the PetroTal results which have been rather overtaken by events but prove how operationally well they did in 2019. Union Jack and Reabold have announced that the Carbon Intensity Study at West Newton rates the project as AA for carbon intensity, significantly better than the UK average. I catch up with Touchstone where final testing data and analysis from the Cascadura well is exceptionally good. I also catch up on recent events at GMS, looking very interesting at the moment.

Oil price, PetroTal, BPC/CERP, Reabold, Angus, Redcliff Energy Advisors…And finally…

The oil price crashed yesterday as worries about economies and new virus cases panicked investors, things are better today as Chinese oil demand is confirmed and they have clearly been buying for SPR. I look at PetroTal where they have done a deal on potential liabilities and raised $18m. For Bahamas Petroleum they have decided to expand and are merging with Columbus Energy Resources. Reabold had results yesterday but all the news is since those numbers and RBD are very well placed. Finally Angus Energy have succeeded with the planners at Saltfleetby.

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