After a rise yesterday oil is flat today. Union Jack and Reabold talk about West Newton and UOG have raised £1m.
Oil has risen today as Iran step up activity in the Red Sea. Today PetroTal announce detailed guidance which confirms how strong their position is. Rockhopper pass on information from Navitas which show reduced costs on Sea Lion and Eco Atlantic are carrying on in South Africa with confidence. Finally United have had to exit Egypt which was on the cards and got an extension in Jamaica.
Oil started strongly and backed off after problems in the Red Sea alleviated. Today DEC do a smart deal to reduce debt and keep a stake despite selling an asset. Union Jack and Europa both reveal a really good CPR from Wressle and its environs and UOG has a result in Egypt.
Announcements from Chariot in South Africa, DEC listing in the Big Apple and Kistos back in business in the Shetlands. Also Wentworth are nearly done, Serica has a very smart RBL, Deltic outline plans for next year and UOG tidy up in Egypt. With a raise from Tower.. and a poor result from Jacobin for Trinity thats all...
Trade is quiet as Thanksgiving Day dawns, I wish a very happy holiday to all those over the pond. Today JOG has made an excellent farm-out of the GBA to Serica which is a win/win situation if ever there was one. And Serica is very wise to be picking up a 30% stake in the asset. Longboat added to its presentation on its portfolio and UOG announced that the preferred partner in Jamaica has walked.
Oil is up about a dollar on the Opec report. Today Genel announce 3Q and 9 month update with the hope that the Iraqi-Turkish pipeline will re-open imminently. Touchstone also report for the period and with Cascadura flowing the numbers are starting to look exciting.Reabold have had an invalid requisition presented but will reply when a valid one returns. Jadestone have increased their stake in CWLH which looks like a pretty good deal to me. And UOG are losing their CFO and Echo have appointed Stephen Birrell as their new CEO.
After yesterday's bath oil is a bit better today. New from Genel about Tawke production and Afentra get approval from the Government of Angola for the acquisition from Sonangol. Finally, UOG update on Jamaica and Egypt.
After a fall yesterday that coincided with the expiry of the December Brent contract today oil has recovered a bit more. Today Zephyr update on the Slawson wells and its RBL redetermination whilst United Oil & Gas gives up on quattro and the Maria sale. Finally Prospex updates on Italian production.
Oil has eased even after the Saudis started the Opec JMMC by saying that their voluntary 1m production cut would continue until the end of the year. Today i3 and Europa announce that they are now in talks with the NSTA hoping that they can resolve the Serenity problem and UOG have extended the Quattro date. Finally Star has moved into geothermal energy in Croatia.
A big rally last night for oil as inventories tightened again. Today I look at Kistos which looks particularly attractive now that MIME is bedding in. Figures from Rockhopper show that the arbitration €260m should be getting closer and United Oil & Gas are working hard across the portfolio. SDX has a successful gas well and Trinity updates on Jacobin in the figures. Petro Matad is going to take time so don't hold your breath and finally I reprise the missing work on Reabold, Union Jack and Longboat from yesterday.