Oil rallied yesterday and has again this morning, maybe people are thinking the same as me yesterday that an announcement on production from the KSA is imminent. Contrary to market views there is still plenty going on at Sound Energy with results today. Serica has well more than justified its position in the Bucket List with a great performance increasing production and cash flow whilst reducing costs. Finally, GKP has shelved plans to increase Shaikan production to 55,000 b/d until the market, improves and the KRG are paying their bills.
It's Bucket List time and the February update is out today, cue trauma.....
Oil is back to being dull but don't rule out any further geopolitical trauma in the Gulf. Genel has announced very solid production from Kurdistan with more details due on Thursday proving that it is business as usual at the moment. Serica is doing extremely well and has given a cracking trading update today. Finally who could forget that it was only 4 years ago today that RockRose came into our lives.....
Sound Energy has made a modest raise after recent interest which makes sense, IOG has not had quite what they expected at Harvey but to the northeast has seen a structure. Putting that with Redwell might create a hub going forward. Rockhopper have updated modest success at Abu Sennan before passing on to UOG. And Serica has been awarded licence P2501 conveniently next door to Rhum.
Hurricane has spudded its third Warwick West well, the last in this years campaign with Spirit Energy. RockRose Energy has along with excellent figures announced an interim dividend of 60p. Aminex has made great strides in Tanzania as they and ARA have made with the government and the forwarding of monies. Solo are also beneficiaries of this. Finally Serica has also had excellent results today.
Today is the interim Bucket List with a look at performance since February, the good the bad and the ugly and with two stocks dropping out to be replaced in the list.
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.
VOX Markets podcast: Coro Energy, Predator Oil & Gas, Hurricane Energy, Reabold Resources, Upland Resources and Serica Energy
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.
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.