Oil price, San Leon, IOG, Sound Energy, UJO/Egdon. And finally…

Oil remains range-bound which is no bad thing right now. San Leon has announced a cracker of a deal which has triple benefits and shareholders should like. IOG update again, this time on the award of the Phase 1 platform contract to HSM Offshore. Sound topped up their recent raise with £725,000 from the broker option. Union Jack Oil announce that Egdon have updated at Wressle and that the UJO acquisition of a further 12.5% of PEDL 180 and 182 has been approved by the OGA.

2020-08-03T16:08:30+01:003 August 2020|Categories: Daily Blog|Tags: , , , |2 Comments

Oil price, Genel, Union Jack, GKP. And finally…

Oil is range-bound and being held up by a weak greenback offset by continuing poor virus numbers. Genel announce that they have received payments from the KRG amounting to $9.8m whilst Union Jack announce OGA approval for their top-up of their Biscathorpe stake. Finally Gulf Keystone have received a net $7.6m from the KRG.

2020-07-28T11:04:14+01:0028 July 2020|Categories: Daily Blog|Tags: , , |0 Comments

Oil price, Far, Savannah, Union Jack. And finally…

Oil has drifted, little news from oil but the knock-on effect of an increase in the COVID-19 has taken its toll slightly. Savannah has extended its results until July due to COVID in its operations but gives a strong update to end May. Far are waiting on the operator of their Senegal asset as they reduce capex but for the time being Far are in technical default. Solo have also had local problems on delivering results but also say that they are in a strong position at the moment. Union Jack has swooped for a 3% stake in Biscathorpe taking them to 30% of this exciting project. Finally Petrofac has seen adverse reaction to the virus and the oil price but they are cutting costs and look very strong longer term.

2020-06-24T10:44:10+01:0024 June 2020|Categories: Daily Blog|Tags: , , , , |2 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, Hurricane, Echo, Union Jack

The Opec+ meeting went ahead as planned and delivered a one month extension, maybe not as much as planned but included monitoring Iraq and Nigeria. Today sees Dr Robert Trice leaving Hurricane, the company he founded and is still very much work in progress. At Echo Energy the company show increased production and a number of opportunities for workover and intervention to add modest production cheaply and quickly. Also in another very good deal, Union Jack up their stake in Wressle accretive and with a cash break-even at c.$17.62pb.

2020-06-08T14:38:45+01:008 June 2020|Categories: Daily Blog|Tags: , , |0 Comments

Oil price, Reabold/Union Jack, President, Block

Oil remains precarious as traders watch the physical market and try to figure what USO are up to...I catch up on news yesterday from Reabold and Union Jack from West Newton as well as President Energy. I also take a look at Block Energy where selling from Georgia Oil & Gas may be creating opportunities...

2020-04-28T13:07:09+01:0028 April 2020|Categories: Daily Blog|Tags: , , , |2 Comments

Oil price, Columbus, Getech, Onshore sundry Egdon, Union Jack, IGas – And finally…

A poor week for oil as the Corona virus has the potential to hit growth which was just starting to show signs of green shoots. Today I look at Columbus where the statement has confused the market but signs are that the management is a touch more positive. Getech has also at first sight disappointed but its not all bad news, costs are down and margins are holding at 47%. Finally for UK onshore a number of pieces of good news have excited a number of stocks.