Oil rallied and again today after a deal has been put to Iran regarding sanctions. Today Sound have updated from Morocco and detailed a farm-out process as well as a drilling programme.Union Jack has detailed the court process for the reduction and potential for dividends. I catch up on news from yesterday, Scirocco in Tanzania, Prospex, Lamprell and of course Kosmos.
Oil rallied a touch yesterday and has again today, the API stats were mixed the EIA are imminent. Today Touchstone are close to a major milestone and Scirocco paint a picture of the immediate future after Ruvuma. Orcadian complete the farm-out, GKP pay-down debt and I catch up late with Block's CPR.
Oil rose last week but July was another down month, demand falling as the recession arrives is deemed responsible. Today Scirocco update on Tanzania, probably more interesting to Aminex and Wentworth...Eco Atlantic have a big update but its a very exciting outlook, whilst Longboat spud Oswig and Prospex update on El Romeral. Finally I had the opportunity to interview John Bell of Gulfsands last week and the detail is in the blog today.
Oil was weaker yesterday ahead of todays opec meeting expect no change in policy. I comment on Scirocco after the meeting and the VOG predicament. Also a raise from Orcadian and a cash alternative for SDX holders.
The US was shut for Juneteenth Day yesterday and today oil has rallied by well over a dollar. Reabold and Union Jack have announced a major and exciting plan for West Newton development the value of which dwarfs the combined companies market caps. Scirocco are urging shareholders to accept the Ruvuma deal and UOG have spudded in Egypt.
Oil was up on the week but faded late in the day after the US CPI came out which trashed markets but rallied the dollar ahead of the Fed meeting tomorrow. Wentworth has announced the proposed acquisition of 25% of Ruvuma from Scirocco both are covered here. DEC confirm that juicy dividend in pence today and Orcadian announce draft FDP and farm-out process for the Pilot development.
Genel announce updated KRG payments and Scirocco have a quarterly update on EAG and Ruvuma. Longboat have added two exciting gas-weighted wells to their Norwegian portfolio.
Oil remains weak as the EU still won't ban hydrocarbons and India and China still won't stop buying them from Russia. Sound has walked away from the Angus auction but two buyers remain interested in the Saltfleetby asset. Scirocco note the AEX RNS on Tanzania where action continues ahead of drilling the crucial CH-1 well in November this year. Zephyr go from strength to strength as they receive the first monthly cheque from the Williston Basin assets bought in February but now delivering meaningful cash to spend on the Paradox. Finally SDX has spudded the MSD-20 infill well on the Meseda field, I still think that there is corporate activity behind the scenes here.
Oil has fallen sharply again today, Covid in China worrying. Today good results from Genel and news from Sound who are ploughing ahead at Tendrara. UOG, has more success and news from President and Far who are exiting Guinea Bissau. Scirocco note Helium One data.
Oil stays obediently at $90 as the Opec+ meeting convenes. Scirocco has the put and the call with Tanzania situation improving and the EAG side also looking good, both could be the future. VOG is really beginning to do well with plenty of upside. Longboat has announced that the Ginny and Hermine prospects where dry and the battle for Far seems to have settled at about A60c. Finally good news vicariously for Eco Atlantic as CGX find oil in Guyana.