Malcolm Graham-Wood is joined by Andrew Austin, Chairman of RockRose Energy.
Malcy talks about the following stocks: Faroe Petroleum #FPM, SDX Energy #SDX, President Energy #PPC, Amerisur Resources #AMER, Petro Matad #MATD and Rockrose Energy #RRE
Thanksgiving Holidays make for thin volume and volatile markets ahead of Dec 6th. Amerisur reveal a significant farm-out to Occidental Andina in Colombia worth $93.25 accelerating their programme and franking value in the portfolio. Elsewhere Reabold announce plans to drill two wells in California and RockRose announce a 95.2% take up of their tender offer. Finally Infrastrata have completed their FEED early and on budget and now need to find the project funder and EPC contractor.
Today Malcy talks about the following stocks: Faroe Petroleum #FPM, Eco Atlantic Oil & Gas #ECO, Rockrose Energy #RRE and President Energy #PPC
The oil price is not assuming further geopolitical uncertainties which is more than can be said for international diplomacy at the moment. Far Limited has spudded its Samo-1 well offshore The Gambia where a success would be transformational to use an overworked term. RockRose has announce a tender for 20% of its shares at 560p, they say the company is ‘seriously undervalued’. And Petro Matad has spudded Wild Horse-1 in block IV in Western Mongolia.
A funny week comes to an end, downward pressure on the oil price, a bit better this morning. A word about Frontera after the positive presentation and a catch up on RockRose and Touchstone. I’ve been running around interviewing and meeting people this week and there are at least three links today.
Although I’m away I can still see oil prices continue to rise in tight markets. On the company front RockRose has completed the Dyas deal on very favourable terms. Over at Sound all is going to plan with news from Morocco showing imminent activity at Tendrara and the drill bit is ready to spin again, exciting times indeed.
As Opec+ prepares for the Algeria summit oil is perky today and likely to be up on the week. I discuss the Savannah Petroleum deal adding to the Seven assets and notice that SDX may be looking at the huge BP portfolio in Egypt. Soco are also buying in Egypt but more modestly and I look at RockRose after their figures. Reabold have two pieces of news, especially going well in California, Petro Matad has a duster in Mongolia and Providence unveils more Barryroe wells.
Malcy talks about the following stocks: Savannah Petroleum (SAVP) , President Energy (PPC) , Eco Atlantic Oil & Gas (ECO), Rockrose Energy (RRE) , Ophir Energy (OPHR) and Hurricane Energy (HUR)
With the oil price all over the place I look at the Opec report, I also look at another excellent discovery from Savannah in Niger and write up my chat with Dr Steve Staley of Upland Resources. I also chatted to Andrew Austin Chairman of RockRose and met with Eytan Uliel of Bahamas Petroleum. Plus two links to this week’s interviews.