Oil is drifting this morning after further virus fears re-emerged in China. HitecVision is to bid for Exxon's Central and northern North Sea interests and Union Jack and Reabold update positively on West Newton. Pharos has raised $11.7m to get going on drilling operations in Egypt and Falcon has continued success at Kyalla.
WTI $52.24 +$1.41, Brent $55.99 +$1.61, Diff -$3.75 +20c, NG $2.70 -3c Oil price Last week was a good one for oil, the fact that the KSA had warned speculators ...
The 2021 Bucket List.
It looks like West Newton has come in big time, well done the believers. And Zephyr are getting closer to drilling in the Paradox Basin.
A good week for oil has quietened down, may due to todays Thanksgiving Holiday. Today JOG announce the acquisition of the final piece of the GBA jigsaw, Genel have first oil from Sarta and President have another discovery in Argentina. Egdon announce a small delay to Wressle but first oil should be in January and they have borrowed £1m from Union Jack who also announce some directors buying.
WTI $42.42 +52c, Brent $44.96 +76c, Diff -$2.54 +8c, NG $2.65 +6c Oil price Another good week making one believe that there are indeed better opportunities should the current good ...
The vaccine news yesterday boosted markets and the oil price alike, oil has continued to rise today following comments from the Saudi Energy Minister about Opec+ output. I talk about Union Jack and Egdon who are applying for planning at Biscathorpe where potential upside is significant. And finally, Andrew Austin is back, with company Kistos he is raising money to restart his assault on the energy sector.
Oil is drifting and was around even on the week. Zephyr Energy has announced a raise of £2.25m which is more than enough to cover their costs of the dual use well in the Paradox Basin. I link to a Podcast with Total Market Solutions as part 1 of 2.
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.
In a packed programme tonight...the oil price which ended last week on a downer is up nearly $2.50 as I write. DGO has signed up with Oaktree Capital Management in an interesting co-funding deal. IOG has walked away from a potential bid for Deltic, not the first to do so recently and Chariot seem to have found a top quality country manager for Morocco. Union Jack and Reabold have spudded at West Newton and Predator has updated on operations and added detail on Trinidad. Finally what might be the deal of the year, Zephyr has announced good news from the Paradox in Utah.