Tag: United Oil & Gas

Oil recovered yesterday after initially falling on an API report that showed a build in stocks, the subsequent EIA report showed a draw of 1.1m barrels and oil recovered to be roughly even on the day. Echo has announced that its rig is on the move and should be ready to drill the CLix-1001 well by the end of December. DGO has announced a new NED as well as announcing that the 2Q divvi will be paid on 20th December and a sterling equivalent of 2.65p a share. PetroTal has also appointed two new NED’s after recently the Chairman of the Board moved to the non board position of CFO. And Touchstone announce that the Coho-1 well has produced well making it a red letter month for the company.

Tagged with: , , , , , , , , , , , , , , , ,

Opec + completed as per my late report on Friday and cuts of up to 2.1m b/d are up their sleeves for 1Q 2020. Today Predator Oil & Gas announced that they have an option agreement with Star Valley Drilling to drill their Guercit permit onshore Morocco. This could be transformational for the company should it come in. Rockhopper and United Oil & Gas update on Abu Sennan with the latter returning to the market after raising $6.25m. Amerisur Resources have been backed by ISS in their recommendation of the bid by GeoPark.

Tagged with: , , ,

Oil rose yesterday with the Gulf taking the lead and worries about further Iranian gunboat diplomacy continuing. This morning Rockhopper has announced the disposal of its Abu Sennan assets to United Oil and Gas, a good deal for both sides.

Tagged with: ,

Oil rallied yesterday and is higher again today, tariff wars are pushed to the side as the Russians and the Saudis present a united front on oil production. SPIEF meeting in St Petersburg bringing out all the big players. Anglo African ‘pause’ the CPR which is disappointing but say that oil is still flowing from the well, just how much though? Catching up with Pantheon and some of the companies that got licences in the OGA 31st offshore round.

Tagged with: , , , , ,

A topsy turvey week for oil as US trade wars now with Mexico spook markets and inventory figures show products building. Savannah Petroleum have moved a stage closer to completing the seven Energy deal with the UERL buy-out being closed and good progress elsewhere. I catch up with the Jadestone Energy figures and they look to be progressing very well. UOG have a new CFO but with much experience and i talk to Doc Holiday about oil stocks.

Tagged with: , , , , , , , , , , , , , ,

Oil drifts after a strong run, Iraq threatening to raise production and inventory fears remain. United Oil & Gas up the ante in Italy with a CPR showing more upside and Reabold and Union Jack spud the West Newton A-2 well. Finally I report on an interesting meeting with Jeremy Asher, Chairman and CEO of Tower Resources.

Tagged with: , , ,

Today Malcy talks about the following stocks: President Energy (PPC), Rock Rose Energy (RRE), Reabold Resources (RBD), United Oil & Gas (UOG), Hurricane Energy (HUR) and Bahamas Petroleum (BPC)

Tagged with: , , , , ,

Oil rose modestly on the week but has fallen back somewhat today, US/Sino trade is still in the melting pot. President is raising money to accelerate its Rio Negro programme which should substantially increase the gas proportion of the mix. RockRose has bought the Marathon UK North Sea and West of Shetlands assets for $140m nearly doubling the size of its portfolio and Reabold and United Oil & Gas have had a discovery at Colter but having missed the target which it will now try to get to with a side track. Independent Oil & Gas are going down the farm-out route for its SNS core assets and therefore may not have to have quite such a big funding…

Tagged with: , , , ,

The oil price continues to rise in a risk-off market place. Better news from Opec+ with the Saudis seeing the end of oversupply in the world market by April. Rockhopper has upbeat news from the Greater Med and with a potentially exciting end to the year… United Oil & Gas has had a CPR resources upgrade and COS rise in Jamaica and I review a meeting with Reabold Resources.

Tagged with: , ,

With oil prices under pressure after news that the US/Sino trade talks at senior level won’t happen until after the March 1st deadline and that Libya may come back the price is flat today. Aminex and Zenith have both raised modest amounts of money. SDX has acquired two more potentially very valuable blocks in the Gharb Basin and Genel reported good production from Tawke. Finally Utd Oil & Gas and Prospex reported a positive CPR from Italy.

Tagged with: , , , , ,
Top