Oil price, Touchstone, IOG. And finally…

Oil will probably be nicely up on the week despite the IEA comments which I commented on yesterday, they remain mega bearish and are yet to acknowledge either the Asian growth I mentioned yesterday or indeed the vaccine situation. The EIA inventory stats were mixed with a 4.3m build in crude stocks but products drew. Touchstone results are meaningless, its all about the drill bit at Ortoire and I wish Mark Hughes the very best in retirement.

2020-11-13T11:00:14+00:0013 November 2020|Categories: Daily Blog|Tags: , |6 Comments

Oil price, Genel, IOG, BPC, Touchstone. And finally…

Oil rallied with good economic data from China and the USA but COVID cases still rise and US elections create uncertainty. Genel update in a very positive manner across the board. IOG have awarded the rig contract for the Core Project to Noble and BPC update on Trinidad and Tobago and Suriname. Finally Touchstone easily raised its £23m yesterday at a modest discount to the price, onwards and upwards.

2020-11-03T15:59:52+00:003 November 2020|Categories: Daily Blog|Tags: , , , |4 Comments

Oil price, Union Jack, President, Touchstone, GMS. And finally…

Oil rallied yesterday as Chinese oil imports rose m/m and y/y quite substantially. Union Jack has bought a large chunk of North Kelsey from operator Egdon who now both have a 50% stake. President has spudded the EVN-1 well at Estancia Vieja whilst its workover rig is prepping LB-1001 for testing and production. Touchstone has hit paydirt at the Chinook well making 3/3 significant gas finds. Finally the mess that is GMS and Seafox is coming to a head, quite what these shenanigans are supposed to gain for shareholders is not clear.

Oil price, Touchstone, Premier. And finally…

Oil is drifting as the number of virus cases notched its highest ever one day increase overnight. Touchstone has announced an independent reserves evaluation of the Cascadura discovery which gives some very spicy reserve, production and NPV numbers leaving the company way too cheap. Premier are moving towards completing the BP deal but it's not in the bag yet.

2020-07-20T10:55:40+01:0020 July 2020|Categories: Daily Blog|Tags: , |0 Comments

Oil price, PetroTal, Union Jack/Reabold, Touchstone, GMS And finally…

Oil rallied a bit yesterday and has risen modestly today, a more positive report from the IEA showing increased compliance and some demand recovery is responsible. I look at the PetroTal results which have been rather overtaken by events but prove how operationally well they did in 2019. Union Jack and Reabold have announced that the Carbon Intensity Study at West Newton rates the project as AA for carbon intensity, significantly better than the UK average. I catch up with Touchstone where final testing data and analysis from the Cascadura well is exceptionally good. I also catch up on recent events at GMS, looking very interesting at the moment.

Oil price, Petrofac, Lamprell, Touchstone

Oil had a good day as the IEA came out with positive data, it was up this morning after a rise in equities but both are running out of steam at the moment. Petrofac reports a good deal of strength but inevitable shifting to the right of some of its E&C orders. Lamprell is a bit hit and miss, poor results as expected but I believe scope for upward growth this year and next. Finally Touchstone reported, most importantly it is hoping to drill the Chinook prospect in July of this year.

2020-05-15T12:19:36+01:0015 May 2020|Categories: Daily Blog|Tags: , , |2 Comments
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