Oil rose on Friday but WTI was down on the week, Brent unchanged. Nothing different at the moment, Libya is back down to 100/- odd b/d if that. Today Genel announce KRG payments and Savannah start gas sales to Axxela and Touchstone updates the market on COHO and Cascadura. Arrow have another success in Colombia and Eco Atlantic have raised money in Africa to top up their stake in 3/B and 4/B. Challenger note a scoop on Friday re Uruguay and results from Petro Matad show a positive situation after a terrible year or two.
Oil had a big rally, a shortage is slowly appearing around the world particularly in products. An AGM update from Genel which is positive and a detailed update by Predator. Finally results from Touchstone show how cheap that stock is.
After a big week last week oil is down by around $8 today as Covid in Shanghai is being dealt with. A good revenue announcement from Union Jack Oil from Wressle which goes from strength to strength. Touchstone results were good but also prove they are about to get wells onstream and with cash to spend. UOG have brought onstream the ASD-2 well at Abu Sennan in Egypt and also they have added another well to the programme. Finally more warrant conversions at Empyrean is good news.
Oil rallies today as it looks like the nuclear talks maybe off. Genel receive money from the KRG, Touchstone get an extension at Ortoire and Getech head for the Highlands. Finally Empyrean is starting to look exciting with imminent drilling at Jade.
Oil has jumped again as sanctions on Russia moves to the embargo on energy stage and markets start to worry about where to find the missing 5m b/d of oil and substantial gas shipments. Today I'm taking a look at Zephyr who are waiting for a CPR and to Touchstone who release theirs.
2022 Bucket List.
The prospects remain healthy for oil stocks going into 2022. Malcy looks back and discusses the prospects for the year.
The 2021 Bucket List results.
Up yesterday, whatever next? Today Advance see the mobilisation of the rig for Buffalo and Longboat sign up a rig for Copernicus. Finally Touchstone updates with regard to its loan in Trinidad.
Its an up day for oil after yesterday when the so called market pros took money off the table mainly in WTI. I look at Sound who are continuing the good news in Morocco and Gulfsands who have received an extension and expansion of its facilities. Also a good oil find from Touchstone and good news from the Tribunal from Rockhopper.