First day of the month and quarter and with an Opec+ on Monday there are no prizes for bravery in oil markets. Union Jack and Reabold are disappointed about the planning decision at West Newton but an appeal is probably likely. Scirocco completes its acquisition Echo has restructured its loan. San Leon note production news from Decklar and I cover results from the 15 sets yesterday including President and Getech as well as results from Zephyr with an interview with CEO Colin Harrington and from Savannah and an interview with CEO Andrew Knott.
Today, Malcy speaks with Savannah Energy CEO Andrew Knott, joining us from Chad. It's been a busy time for the company, and Andrew gives an overview of recent news and ...
The last day over the month and quarter has seen some window dressing as November Brent expires tonight. With companies competing to be the most in the last day of the reporting season Savannah, San Leon, Scirocco get in today along with an interview with Helge Hammer of Longboat. That leaves just the 16 to fit in tomorrow...why do they do it and how many will get in, and its a Friday remember...
Oil continues to rise but is flat this morning, not really surprising given where it is at. Angus have updated on Saltfleetby this morning with much going on. And Lekoil have parted company with CEO Olalekan Akinyanmi w.i.e.
Savannah has announced that it is looking at a deal involving Exxon's assets in Chad and Cameroon, this involves a suspension as it will be a RTO.
Oil was a dollar off the top as I write with the Opec+ meeting ongoing. Figures from Savannah Energy late on Friday, Chariot close the AEMP deal and PetroTal update positively. Longboat Energy have a deal and a raise into the bargain, IGas get planning for the Stoke geothermal project, Pharos update and Sound remain confident that the tax is not due.
Oil is down a touch this morning, about the same as it was up yesterday...The Suez Canal is open and the market is starting to look towards Opec+. Sound has gone a long way in the bond restructuring and UJO and Reabold are moving ahead fast at West Newton. Pharos has new fiscal terms in Egypt and may also be in a good position on its farm-out. Elsewhere, new directors at Sterling Energy are v good, Savannah has a new website, Scirocco has been written up in a good note from WHI and Cairn have heard that the Indian Government are trying to have the Dutch court of arbitration set aside.
After a booming start to the week oil was quiet yesterday, it started well but after I published Wall Street panicked about Fed Chairman Powell and all started to fall. After the close the API stats were a mixed bag and not as good as forecast but with concerns that some oil production shut-in in Texas might never return rallied the market today. PetroTal has announced a useful set of reserves numbers with a decent upward revision. I look at Savannah where i saw an article about the Calabar power station helpful for SAVE long term. Echo has upgraded facilities in Argentina and Lamprell has won a contract from Saudi Aramco as part of the LTAP.
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.
Oil continues to rise, nearly up 10% on the week is on the cards. Savannah have impressed with a Gas-to-CNG Sales Agreement announced with Mulak Energy which is a fantastic news and bodes very well for the future.