Oil surged on strong inventory data and short closing by money managers. Stock wise, President have a very positive AGM statement, IGas have a very psoitive find at Springs Road, Premier up their numbers at Zama, Serica are positive in their AGM statement, Hunting’s update is pretty good and Wentworth cut guidance which disappoints.
Malcy talks about the following stocks: Coro Energy (CORO), Predator Oil & Gas (PRD), Hurricane Energy (HUR), Reabold Resources (RBD), Upland Resources (UPL) and Serica Energy (SQZ)
The updated Bucket List, widely differing performances but I remain confident about the picks in the main.
Tagged with: Amerisur Resources
, Echo Energy
, Eco Atlantic Oil & Gas
, FAR Ltd
, Genel Energy
, Hurricane Energy
, Jersey Oil & Gas.
, President Energy
, Reabold Resources
, Rockhopper Exploration
, Savannah Petroleum
, SDX Energy
, Serica Energy
, Sound Energy
, Trinity Exploration & Production
, Victoria Oil & Gas
Oil looks like ending up on the week after Opec+ production continues to fall and risk is off right now. Bahamas Petroleum have had their licences renewed until December 2020 giving them more time to find a partner but with commitment to drill a well. Eco Atlantic are ranked 2nd in the TSX Venture 50 and I write up Serica after a meeting with CEO Mitch Flegg.
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.
Today’s blog talks about the oil price rally yesterday, debt repayment from Trinity, a chat with John Wardle CEO of Amerisur and a smart deal from Serica…Plus the link to this week’s VoxMarkets Podcast and the And finally…
Malcy talks about the following stocks: Jersey Oil & Gas #JOG, Serica Energy #SQZ, SDX Energy #SDX and Rockrose Energy #RRE
WTI $66.14 +63c, Brent $70.52 +10c, Diff -$4.38 -53c, NG $3.51 +6c Oil price That was the good week that was, WTI continued to outperform Brent and was up $2.83 on the week vs +$1.91 bringing today’s differential closer to…
WTI $56.42 -29c, Brent $62.22 -50c, Diff -$5.80 -21c, NG $3.05 -5c Oil price A quiet day in the oil bourses in which the problems being encountered by Mrs Merkel meant that the market ended in a listless and slightly…