Another up day for oil with diplomatic activity between Russia and the USA over the Ukraine unsettling markets. Serica has had another great statement after a superb year and Pharos has had another Government signature for the El Fayum Concession agreement. Finally from yesterday comments on Far and Gran Tierra.
2022 Bucket List.
The prospects remain healthy for oil stocks going into 2022. Malcy looks back and discusses the prospects for the year.
The 2021 Bucket List results.
Oil continues to creep up, inventories and Omicron permitting. Today Scirocco have made a move in the AD area and Serica has another excellent update.
Oil will be quiet for a couple of days as the USA celebrates Thanksgiving but it needs a break after all the SPR shenanigans. Serica announce first production from Columbus whilst President complete the farm-out of Paraguay. Trinity get approval for Galeota and I catch up with the SDX management.
Oil is rallying a bit but will be down on the week, today Longboat say that they have a 'minor' discovery at Mugnetind but not stand alone commercial. Serica say that there is a small delay on Columbus oil as Shell are restricting capacity at Shearwater but it's a modest loss. Orcadian said yesterday that they have had three expressions of interest for the FPSO at Pilot which is highly encouraging and Lamprell confirm a raise of £21.9m at 32p. Finally a successful presentation last night by Chariot encourages value for the long term.
Oil reached the top of the trading range and boiled over as is its wont. Today I look at Predator after the webcast yesterday and IOG have good news from the Blythe well and first gas on the horizon and at these prices...PetroTal have also had a really positive update from the Bretana field and are looking set very fair. Hurricane have updated but I think maybe should have shouted more from the treetops and yesterday Serica blew away the targets and are looking to have the Midas touch. Union Jack has added a new presentation and video on the website.
Oil remains flat as one might expect on Labor Day, traditionally the end of the summer driving season. I look at Genel with its latest payments from the KRG as well as newly licensed Challenger. Years of patient waiting for Falcon in Australia appears to have brought success at Beetaloo and a guidance warning from UOG as they find too much water at ASH. Finally Advance are nearly ready for Buffalo-10 and Serica are making out like bandits as the Rhum well comes in very well indeed.
Oil is staying put with Brent at $75+ and WTI at $74+ with the agencies all scheduled to report and likely to firm up demand numbers I suspect. Kistos has started its life very strongly and updates today and ever solid Serica shows good results from its Columbus development well. Zephyr has got under way with the State 16-2-LN-CC well and also some non-dilutive funding for additional data acquisition. President has an operational update as does Block and SDX announced a successful well in Egypt.