Crude prices are still subdued as inventories build and production exceeds demand, for the time being. Savannah are close to the Seven Energy deal completing which has significantly enhanced their position in Nigeria. Talking of completing, Eco Atlantic has completed its farm-out to Total in Guyana and are now in a position of considerable strength. Frontera have confirmed that they are still talking to another industry major and Serica has received OGA approval for the Columbus FDP. Afren crooks locked up and also a link to this week’s podcast.
A poor week for the oil price, reasonably expected I should say and now the Saudis are talking of Opec+ cutting production, which they should. President have spudded the 2nd well in the 3 well programme and Sound are at first casing point in Tendrara. SAVP have submitted the necessary documents to the Niger Ministry to get on with the EPS whilst Reabold note that Corallian have farmed out 10% of P2396 to Talon. Finally, Eco Atlantic via their operator Tullow have ‘prioritised’ Guyana over Namibia, funny that…
Malcy Graham-Wood was speaking at the London South East Investor Evening held at Brewers Hall, 16th October 2018 with three of his ‘Bucket List’ company CEOs on the panel: Fiona MacAulay, CEO of Echo Energy, Andrew Knott, CEO at Savannah…
Still on the move, oil is moving back down but still in a strong position. Savannah Petroleum has moved a significant step forward to closing the Seven Energy deal which is most important. Chariot has a duster at Prospect S in Namibia whilst DGO remain on the acquisition trail in the US.
Malcy talks about the following stocks: Amerisur Resources (AMER), Echo Energy (ECHO), Savannah Petroleum (SAVP), President Energy (PPC), Chariot Oil & Gas (CHAR) and i3 Energy (I3E)
Savannah has announced its 5th consecutive oil discovery in Niger, with the EPS starting to provide revenue as early as next year it is proving to be a company with more than one string to its bow….
With the month and the quarter ending at the weekend window dressing is the order of the day and there is no news so volumes will be low. Lot’s of news from Savannah where they are updating on the Niger EPS with news about first oil 1Q 2019 and ramping up through the year. Chariot are about to spud prospect S and the oil world watches. Interims from Getech show that management action is working.
The oil price remains on an upward trajectory, mainly due to Iran although the President doesnt see it that way… I look at figures from President, unsurprisingly excellent and cover news yesterday from Amerisur, Rose and Zenith. Plus links to Podcast and an interview with Andrew Knott, CEO of Savannah Petroleum.
Malcolm is joined by Andrew Knott, CEO of Savannah Petroleum.
Malcy talks about the following stocks: Trinity Exploration & Production #TRIN, Savannah Petroleum #SAVP, Soco International #SIA , SDX Energy #SDX and Rockhopper Exploration #RKH