Another good day for oil which will end the week up after further inventory draws and lower floating stock levels. Scirocco notes that ARA has awarded a seismic gig to AGS at a lower than expected cost and Touchstone has another good well in the Ortoire Block in Trinidad.
Oil should be modestly up on the week not something you might have thought on Wednesday. Touchstone has 2Q results and an operational update. Prospex have found a legal technicality as a number of shareholders attempt to unseat the board and Block, in a similar situation have appointed Jeremy Asher to the board...Finally, after the tragic death of Chairman Bruce Dingwall Trinity reshuffles, no surprises in these appointments.
A big rally for oil yesterday as the Iran deal seemed to take a slight turn for the worse, I'm sure it will return. Signs of a pick-up in US air travel also made the oil bulls return. Chariot have made a strong move to become a unique, gas and renewables story covering over 17 countries in Africa. The raise will enable a well at Anchois to be drilled and hasten the roll-out of the transitional power team. Union Jack and Reabold have announced 6 weeks of testing at West Newton whilst Serica have announced an operating update at Columbus and the R3 well. Hurricane have results where they warn of equity destruction and Touchstone have more very positive news from Trinidad.
After the inflation worries on the street the dollar rose and oil has dipped today after another rise yesterday. The KRG has tinkered with the payment schedule, Genel remain very robust and of course the payment has only been deferred. GKP were also affected but have little to grumble about after declaring another $25m of divvi just today. Angus have finalised their Saltfleetby finance and Helium One have their EIA. A solid statement from IGas with geothermal back in the frame and Touchstone have Q1 results.
Oil is very quiet still, IOG have started the drilling on Phase 1 in the SNS and Petro Matad are continuing their licence for exploitation application. President update on drilling, Touchstone have a success at Ortoire and Empyrean up the chances of success in China.
Oil is flat, the market thinks it knows the result of tomorrow's Opec+ meeting and is levelling its books on the last day of the month and the quarter. Lots of news today, PetroTal update on sales and risk, Touchstone have a disappointing well and there are good figures from GKP. President remain upbeat as are Tower and Advance makes its debut in London. Finally I interview the Zephyr CEO.
What with the Suez canal and the virus the oil market is all over the place, today traders have bought the dip. BPC has outlined its strategic focus in an updated presentation out today. And Touchstone have 2020 results but it is all about Ortoire going forward.
Opec+ foxed the market although it had reminded participants not to short oil...Rockhopper gets an extension in the Falklands, Sea Lion must be a no-brainer right now for them and new owners Harbour and Navitas. Touchstone has had a great reserves report, thoroughly deserved after the year it has had with the drill bit but yet to be in the share price. And SDX has an extension at West Gharib.
Oil will end up on the week, again as general good long term news is around including approval for the Moderna vaccine in the US. Zephyr has spudded the State 16-2 well in the Paradox Basin and Premier are only steps away from becoming Harbour Energy. Touchstone has signed a GSA with NGC in Trinidad and Hurricane warn that whilst 12/- b/d is fcf positive the financing of the company might be terminal.
The 2021 Bucket List.