The US was shut for Juneteenth Day yesterday and today oil has rallied by well over a dollar. Reabold and Union Jack have announced a major and exciting plan for West Newton development the value of which dwarfs the combined companies market caps. Scirocco are urging shareholders to accept the Ruvuma deal and UOG have spudded in Egypt.
Oil is quiet today ahead of the long weekend in the USA for Memorial Day. It will be about 5 bucks up on the week after demand for crude and products was strong ahead of the driving season. Results from Reabold and from Southern which looks an interesting play.
Oil is unchanged today after a mixed week and influences varying from China to the USA. Union Jack have another positive update from Wressle where revenue has been incredible. IOG have had another teething problem but again it shouldn't hit the long term value of the field. Finally Reabold has sorted the situation in California and Daybreak is now funded to drill.
Oil fell yesterday on China problems but is up today as the EU start the process of stopping Russian oil and products. Reabold has walked away from Victory as Corallian is bid for, seemingly preferring to spend on West Newton, I don't blame them. Another cracking set of numbers from Gran Tierra across the board and SDX have tied in of the SD-5X Warda well whilst Empyrean are going for Topaz.
Oil is unchanged today but yesterday rose on the back of China showing admittedly vague signs of support for Russia. Today I look at the positive news from the West Newton planning appeal for both Union Jack and Reabold as well as the SDX results.
Oil was up just under 5 bucks last week, quiet today for Martin Luther King day. A great update from PetroTal who are breaking all production numbers and \angus who have had at least 6 intentions of interest in their assets. Reabold and Union Jack announced initial results of analysis of the West Newton Extended Well Test programme carried out in the second half of 2021 by RPS Group and the results of analysis carried out on fluids produced to surface. Finally Hurricane are starting to look like the good thing that they were.
Oil is slightly better and a number of companies have announcements today.
Oil crashes on new Covid variant concern, Gran Tierra sells its remaining stake in PetroTal, UJO and RBD give locals guidance on West Newton plans and Eco (Atlantic) has Interims.
Oil remains quietly firm, inventory stats in the US showed a big draw in products and crude remains 6% below the 5 year average. I take a look at Reabold Resources who have had a number of announcements lately.
Oil continues to rise, today the Opec and EIA reports show increased demand and reduced supplies which should have been expected all year. Russia have been hosting an Energy week at which both Putin and Novak made positive comments about the price of oil, $100, and the availability of gas when the Nordstream 2 pipeline comes in. Kosmos has bought stakes in Jubilee and TEN in Kenya from Oxy and i feature an interview with Andrew Austin at Kistos. Yesterday saw another excellent update from PetroTal who are at last on the move. I also look at the West Newton result and its implications for Union Jack Oil and Reabold Resources.