Tag: Rockhopper Exploration

Oil came back sharply yesterday as the Saudis said that production would be back to normal by the end of this month, way sooner than expected. Rockhopper results are fine but its all about Sea Lion which is progressing waiting for senior debt and of course the Ombrina Mare arbitration. At Chariot they have a CPR over additional prospects in the Lixus licence which takes the number to over TCF. SDX has had a find in Egypt and adds 315 b/d to production and EOG has been awarded an offshore licence in Morocco, the current hot post code internationally.

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Today is the interim Bucket List with a look at performance since February, the good the bad and the ugly and with two stocks dropping out to be replaced in the list.

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Oil prices diverged but all eyes are on Jackson Hole tomorrow. Rockhopper has updated with news on Sea Lion where work has de-risked the project and Phase 1 resources have increased. Predator updates on Trinidad where the first workover has gone extremely well, making the project look increasingly attractive, finally RBD has increased its investment in Rathlin via a £1m investment which ups the exposure to West Newton.

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Oil drifts further despite more stock draws, the EIA will be important later. Today I comment on Rockhopper who have a well result for United and IOG who have spudded Harvey at last. EOG have converted LO 16/20 into FEL 4/19 but still have no farm-out. Reabold have spudded in Romania and I catch up from yesterday with Far Limited where CNOOC has acquired 55.5% of Svenska’s interest in Guinea-Bissau. Also from yesterday another upbeat statement from President, Cairn sells half of its stake in Nova and Jadestone get the final all clear for Montara.

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Flash blog today as Rockhopper announces submission of the PIM for Sea Lion. For those of us who have watched the process develop over many years it has now become worth the while as the project builds up a head of steam.

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Oil rose yesterday with the Gulf taking the lead and worries about further Iranian gunboat diplomacy continuing. This morning Rockhopper has announced the disposal of its Abu Sennan assets to United Oil and Gas, a good deal for both sides.

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Today Malcy talks about the following stocks: Eco Atlantic Oil & Gas (ECO), Rockhopper Exploration (RKH), Hurricane Energy (HUR), Anglo-African Oil & Gas (AAOG) and Pantheon Resources (PANR).

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Oil remains very weak on trade war worries that investors are treating as an opportunity to go risk-off, but the physical market is tight so any bounce could be quite a knee-jerk. BP are on stand by for a Panorama documentary tonight about their dealings in Senegal with Frank Timis who is also in the firing line. BP are also on the verge of selling their Egypt assets to Dragon Oil for $600m+ according to Reuters.
Rockhopper report further good news from Egypt where their latest well has found oil in four zones and is already producing.

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A topsy turvey week for oil as US trade wars now with Mexico spook markets and inventory figures show products building. Savannah Petroleum have moved a stage closer to completing the seven Energy deal with the UERL buy-out being closed and good progress elsewhere. I catch up with the Jadestone Energy figures and they look to be progressing very well. UOG have a new CFO but with much experience and i talk to Doc Holiday about oil stocks.

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Good results from Trinity this morning and I had a very positive meeting with the board afterwards. Rockhopper has made great strides forward with regards to Sea Lion and shareholders can genuinely get excited about progress to development stage. Finally Pantheon has had a major disappointment in Alaska with both secondary targets being either water wet or not worth testing, two dusters leaving only the modest Brookian to try and become commercial.

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