Oil has now gained nearly $3.50 on the week, the election result has taken risk off and whatever result occurs it looks like extreme policies are off limits. Helium One have solved their unquoted problem and will merge with tiny Attis and raise £5m, Scirocco comment on the process. And Deltic say that Shell remain committed to Pensacola and despite an extension still plan to drill 4Q 2021.
After a bad week oil has turned slightly but is still jittery with so many COVID cases hitting economic demand numbers. I look at Scirocco with a name change and a identification of strategy in Tanzania and beyond. Coro is moving into clean energy development and Lamprell has won a 'medium size' contract from partner IMI. Finally I provide, thanks to Andy Pancholi of Cycles Analysis who has given us some guidance to trading around the US election tomorrow.
Oil will be flat on the week after a reasonable day yesterday and a modest rise so far today. Still no signs of a stimulus but maybe its a Nov 4th rally...Aminex has announced the completion of the Ruvuma farm-out with all that entails and Scirocco have noted it with all that it means to them. Finally from yesterday further good news for Zephyr as the get the first Government payment for the Paradox well and have hired a very experienced drilling manager.