Oil is all over the place with America and China playing diplomatic tennis and now appearing to be making friends again. Today, DGO buy a small but important stake in gas gathering systems and Eco Atlantic have spudded Joe-1. Reabold have potentially very exciting news from Romania and Solo Oil are about to update their corporate presentation. Jadestone trim the guidance, mainly for the weather to be fair but still look in good nick whilst Providence and Lansdowne have extended their backstop.
Another see-saw ride for oil which is better this morning after a good day yesterday. Aminex and Solo have released an update about Ruvuma and Kiliwani North which is still taking its time and Predator has interims but a really exciting 2H
Oil stays strong in the new quarter which most agencies say will be tighter than the last in which oil rose by over 30%. Block Energy has a great result in Georgia as does Reabold at Monroe Swell. Anglo African have recovered 43° API Djeno oil to the surface at TLP-103c which must help confidence for flowing in due course and I comment on a meeting with the Solo Oil management and the GKP Capital Markets event.
VOX Markets podcast: Malcy on President Energy, Sound Energy, SDX Energy, Solo Oil and Hurricane Energy
Malcy talks about the following stocks: President Energy (PPC), Sound Energy (SOU), SDX Energy (SDX), Solo Oil (SOLO) and Hurricane Energy (HUR)
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.
VOX Markets podcast: Malcy on Solo Oil, Wentworth Resources, Aminex, Independent Oil & Gas, Amerisur, Hurricane Energy, Genel Energy
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