Oil is quiet today after the post Opec fall. Today San Leon have good news from Decklar, Reabold look better in Italy, Ithaca complete Cambo and Sound has seen a £250,000 conversion.
After last week's fall oil is up well over a dollar today after yesterday Russia and the KSA confirmed that their output cuts would not be discussed at the upcoming meeting but would wait until the December event. Today Union Jack get a favourable planning call at Biscathorpe and on Friday Sound announced a small debt restructuring. And today Kosmos produced another set of excellent figures.
Oil has rallied sharply today after a couple of down days this week. I report back from the Morocco Oil & Gas Summit in Marrakesh where a number of UK companies were represented. These include Chariot, Sound and Genel and there were many other companies in attendance, I took the opportunity to meet with ReconAfrica for the first time. Today I also look at announcements from Hunting and Challenger Energy Group.
Oil will end up on the week, no surprise there then and we wait to see how Israel unfolds over the weekend. Today I assess the state of the oil market, take a look at the exciting M&A situation in US oil stocks and round up from Africa Oil Week. I also watched the Sound Energy video which shows considerable progress and have repeated the Angus interview with Richard Herbert from earlier in the week.
Sound Energy presentation given by the Executive Chairman Graham Lyon and CFO Garry Dempster. View presentation
Oil takes a breather as WTI October contract expires bur stocks are down. Sound are very positive about things going very well at Tendrara and Molecular Energies looks very exciting. Predator reported the other day, interims show much going on in Morocco as well.
Oil is quiet today due to Labor Day in the US. SDX are drilling again in Morocco, Sound have a conversion into equity, Empyrean have results and Trinity has Terms of Reference for its EIA at Buenos Ayres block.
Announcements today from Europa and yesterday from Sound and Savannah.
Oil is solid after the EIA stats which showed a draw of nearly 10m barrels. Today I look at Touchstone where Cascadura is nearly ready for first gas. Also Serica has a confident AGM statement, i3 have a disappointing update with reduced guidance and lower dividends. A quick look at JSE who failed in the Open Offer and there is more on Sound after yesterday's RNS.
After the weekend oil doesn't know how to react unchanged today. I look at IOG who have a very good result at the Blythe H2 well and will be upping production. Zephyr finals are as expected and Trinity have early indications of success at Jacobin. Last week Chariot had figures with exciting potential for Anchois partners, Sound completed its debt issues and is now clear to move ahead at Tendrara and JOG completed on the GBA farm-out, a fantastic deal.