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 ...
Oil is drifting and was around even on the week. Zephyr Energy has announced a raise of £2.25m which is more than enough to cover their costs of the dual use well in the Paradox Basin. I link to a Podcast with Total Market Solutions as part 1 of 2.
In a packed programme tonight...the oil price which ended last week on a downer is up nearly $2.50 as I write. DGO has signed up with Oaktree Capital Management in an interesting co-funding deal. IOG has walked away from a potential bid for Deltic, not the first to do so recently and Chariot seem to have found a top quality country manager for Morocco. Union Jack and Reabold have spudded at West Newton and Predator has updated on operations and added detail on Trinidad. Finally what might be the deal of the year, Zephyr has announced good news from the Paradox in Utah.
Oil is drifting, yesterday with positive inventory numbers the price should have risen but the virus and physical exports from Libya put the bear side eloquently. Today Block Energy has responded to a shareholder group by having an operational and corporate update. Yesterday Angus set in play a debt facility raise and a modest equity funding to stand alongside it, also Reabold had interims. Finally the Kerogen representatives on the Hurricane board have left, what that may mean is anybody's guess but not being on the board gives them more scope than otherwise....
Oil has recovered most of yesterday's fall as the US jobs number please the markets. I comment on Sound after yesterdays tax news from Morocco, I also look at a number of the companies awarded blocks in the 32nd round of UKCS round.
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.