Another rally for oil and an update from IOG shows that there is much to do but the new team is hard at work. Sound continue to progress in Morocco and i3 report good numbers. Finally i take a look at news from Savannah recently.
Oil rallies on the Keystone pipeline leak. Genel are disappointed at Sarta and Longboat assess the year. Predator prepare for drilling in Morocco and I look at Sound and Chariot from yesterday.
Savannah has announced in the last two years the completion of the Chad/Cameroon deal and also the South Sudan acquisition. Chariot has announced 'key principles' for long term gas sales from the Anchois development with ONEE and Sound has has provided a project financing update in relation to the Company's Tendrara Production Concession, onshore Morocco.
Oil has picked up sharply today with markets worrying about the Opec+ meeting on Sunday. JOG get an extension at Verbier to match the GBA whilst Sound restructure the Phase 1 Micro LNG. Eco has results which are history and Arrow has its best ever quarter. Finally Zephyr publishes a new presentation, worh a glance.
Another good day for oil, a weak dollar initially helped but after the Fed's comments about the economy it firmed a bit. Also Opec+ are still producing some 1.3m less than quotas which won't get easier. An update from Genel shows an acquisition fund of $500m+ by the year end and PetroTal announce that the 13H well is producing at around 8,000 b/d. Longboat announced that Oswig disappointed but did find a condensate discovery to analyse more of later. Harbour made its guidance and is bringing debt down and Sound cant get the Moroccan Tax Authorities persistence.
A flash blog, good news from Zephyr with permits awarded and will now start drilling. Sound have to yet again submit to the Moroccan Tax authorities and Hurricane have received a derisory bid and are now up for sale.
Oil was up last week but interest week ahead so cautious on the last day of the month today. DEC have done another ABS refinancing and is aligned with ESG asset backed securitisation. Sound Energy are also continuing the financing and the farm-out continues. Rockhopper have heard that the Italian Govt are trying to have the arbitration annulled. And Jay Bhattacherjee comes in at the Chairman role at SDX.
Oil rallied further on disputes and a mixed inventory report. IGas chose interim day to sack CEO Steve Bowler and Sound yesterday announced further legal grief in Morocco. With UOG spudding in Egypt and Reabold getting another market knee in the groin Longboat has added to the mainly miserable day.
Oil bounced after signs that the Iran deal isnt iminent and Europa borrowed £1m from UJO, Coro have good news from Duyung and I take a fresh look at Sound Energy after yesterday's numbers. Both IGas and Reabold laud the Government's moves on fraccing etc and Getech make a big hire.
Half year numbers from UJO and how good they are, they get many box ticks from me. Results also from Sound which show very positive progress and Kistos who are continuing to perform in such a short time. Chariot has signed a Pipeline Tie-In Agreement with ONHYM.