Oil has been steady, China is OK and stories from CERA Week are bullish. San Leon note Eroton has been removed from OML 18 as operator but shouldnt affect them. Afentra are nearly over the line in Angola and EOG point out that Ireland can provide its own gas with lower carbon than now whilst SDX have reconstituted the recent deal and Predator are applying for regulatory permissions ahead of MOU-1 testing.
Genel sign with Morocco re Lagzira, remember Sidi Moktar (?). Scirocco start changing the board, slowly right now but the makeup will change. SDX update on the portfolio and COPL have been hit by the weather...
Genel update on receipts from the KRG, San Leon update on Nigeria whilst the Spanish Archer arrives at SDX. I also note yesterday's RNS from Rockhopper.
Oil rallied at the end of the week but not enough to be up on the week, the US inflation figures rallied most markets except the dollar. Today another excellent trading and dividend update came from Diversified Energy and Union Jack announced more revenue from Wressle. SDX announced two minor well results but its the new management that will count here.
Oil was up last week but interest week ahead so cautious on the last day of the month today. DEC have done another ABS refinancing and is aligned with ESG asset backed securitisation. Sound Energy are also continuing the financing and the farm-out continues. Rockhopper have heard that the Italian Govt are trying to have the arbitration annulled. And Jay Bhattacherjee comes in at the Chairman role at SDX.
Oil fell yesterday but Mr Putin's words this morning have put over 2 bucks on the price. The Fed rates decision is at 7pm our time. Zephyr have had a good year showing in Interim results and post period deal flow is impressive. Prospex are buoyed by Po Valley news and SDX are ringing the changes at board level as Aleph get the gloves out.
A mixed week for oil in thin trade. I comment on a meeting with DEC and cover debt from Gran Tierra and SDX figures from yesterday.
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 rallied after the dollar weakened as expectations of a 100bp rise in US rates next week were trimmed. Challenger update on Trinidad and Angus yesterday also updated on Saltfleetby. Predator have a detailed run through but it is Morocco that is of most interest in the next few months. Afentra look to have done a very smart deal topping up in Angola and Tenaz are having to rethink the SDX acquisition.
Oil fell again last week but today Brent is still $104. Trinity has updated on Q2 production which is the same as usual as is guidance for this year. A fully funded drilling programme is under way to change production from mid 2023. SDX has heard that Aleph Commodities has a 25.65% stake and is likely to vote against the Tenaz bid. GKP announced on Friday that it received $38.1m net from the KRG.