The oil price is flat, likely slightly down on the week despite good US inventory draws and further supply cuts from Venezuela but no good news from the trade talks. A very good set of 2018 figures from SDX and with a busy 2019 upcoming all looks good. Solo has put out its new strategy statement which is bold and seems to strike the right balance for shareholders and i talk about Hurricane post the Aoka Mizu going forward.
Oil was quiet last week with the Chinese New Year and is off small time today. Coro has announced a very smart deal to add to its Far East portfolio with decent reserves and step-out exploration upside. Solo Oil has announced further rearrangement and restructuring with Chairman Alastair Ferguson taking on an executive role and Gneiss Energy providing two heavyweight advisors. Genel has updated Tawke reserves where P1 number are unchanged which is a good performance. Finally after the Brulpudda discovery bt Total last week Tower Resources confirm that the farm-out of their adjacent block goes ahead….
Oil rallied small yesterday mainly on Libya shortfall but is better this morning after a surprise draw of crude stocks of 10.2m reported after the close by the API, gasoline drew 2.5m barrels, also better than forecast. Frontera has signed a term sheet for a loan of up to $60m which will accelerate activity in Georgia substantially and Solo continues its tidy up with sale of its interest in PEDL 331 to UKOG. I also follow up from yesterday on Echo Energy and Reabold Resources.
On the move today but very good news from AMER and Aminex announce that the farm-out is still progressing well, albeit at African pace. Solo will also benefit and I will be at investor evening tomorrow.m
Flash blog today on good news from Trinity, exceptional results from Hunting, a smart deal from Solo and a stateside find for Reabold.
Malcy talks about the following stocks: Solo Oil #SOLO, Wentworth Resources #WRL, Aminex #AEX, Independent Oil & Gas #IOG, Amerisur #AMER, Hurricane Energy #HUR and Genel Energy #GENL
In today’s blog I discuss the oil price, good news from Range Resources, a raise and a new team at Solo, FEED coming good at Infrastrata, an acquisition for Kosmos and the BPC CEO gets a new contract.
WTI $69.30 +78c, Brent $73.93 +49c, Diff -$4.63 -29c, NG $2.78 +4c Oil price Saudi Arabia has announced that this morning that two VLCC’s carrying Aramco crude oil were attacked by Yemeni Houthi militias with very slight damage to one…
WTI $70.33 -5c, Brent $74.45 +$1.05, Diff -$4.12 +$1.10, NG $2.80 -3c Oil price Some recovery yesterday as the IEA report showed concern that with all participants now flat out the market is very vulnerable to serious price swings. Funny…
Malcy talks about the following stocks: SDX Energy #SDX, Frontera Resources #FRR, Savannah Petroleum #SAVP, Amerisur Resources #AMER, Bahamas Petroleum #BPC, Coro Energy #CORO and Solo Oil #SOLO