Oil was shut yesterday but has rallied today as the movers and shakers head for the Alps. Genel gave a solid and in line trading update and Union Jack and Egdon have updated Wressle. With UOG resurrecting the Quattro deal but at a higher price they can reward patient shareholders with a modest buy back.
The 2023 Bucket List is published today, five companies are leaving one way or another and three are joining the group. The Oil and Gas prices both showed consistency in being virtually unchanged on the year although the prices changed at different times during it, see the charts. The blog also announces how the 2022 list fared.
Oil fell sharply after worries that despite opening up, China would not grow for a while... Union Jack have further revenue from Wressle and UOG has had a duster at ASW-1X. IGas has appointed a new independent NED but so far no CEO and PTAL remind us that their management will be in London on the 19th of January.
Oil rallied at the end of the week but not enough to be up on the week, the US inflation figures rallied most markets except the dollar. Today another excellent trading and dividend update came from Diversified Energy and Union Jack announced more revenue from Wressle. SDX announced two minor well results but its the new management that will count here.
News this morning from Zephyr, Union Jack, Egdon, Challenger and Predator.
Oil rose after better than expected US GDP figures. Union Jack start the buy-back, Angus update on operations, UOG show good results from ASH-4 and IGas complain about the Government.
A positive day for oil as China Covid numbers eased and the dollar eased. A good update from Zephyr, and Union Jack announced a maiden special dividend and a share buy-back. Predator are on the move in Morocco and Trinity liked the last buy-back so much that they are doing it all over a game.....From last week I look at IOG, and Reabold.
Oil rallied yesterday ahead of tomorrow's Opec meeting and possible production cut back. Union Jack announce $10m of rnet revenues from Wressle and a stake in Egdon whilst Eco (Atlantic) spud the Gazania well.
Oil rose on Hurricane Ian but he is now in Florida and only Cat 1, also inventory numbers were better than the whisper. Union Jack and Reabold issue a big CPR on West Newton which will bring huge value and Rockhopper is looking very good looking forwards. Finally later in the morning the news broke that Capricorn is abandoning its deal with Tullow and forming a new energy company with Delek Group, New Med Energy. Capricorn shareholders get a big payout anda residual holding in NewMed.
Oil gained but gave back most of the gains at the end of the day. Union Jack and Reabold both flag the West Newton CPR due next week and Rockhopper completes the Navitas farm-in. Longboat look like they might have a discovery at Oswig but need a side-track and DST to confirm preliminary numbers that are better than pre-drill estimates. Finally, IGas and Egdon have both written thank you letters to that nice Mr Rees-Mogg for his relaxation of shale regulations.