Oil price, Premier Oil, United Oil & Gas. And finally…

Oil has cracked down as equity markets are worrying about Covid-19 and demand knock on effects. I have today interviewed Premier Oil CEO Tony Durrant about operational performance and the upcoming financial restructuring. I also look at United Oil & Gas after an interview with CEO Brian Larkin, it looks most interesting with defensive capabilities and plenty of upside.

2020-09-08T17:04:58+01:008 September 2020|Categories: Daily Blog|Tags: , |2 Comments

Oil price, GMS, Pharos, Utd O&G, Trinity. And finally…

Oil continues to strengthen against most commentators expectations. A gradual rise like this is better than sudden movements although with WTI at $43.34 and Brent at $46.07 is probably enough absent substantial demand rises. GMS are worth a look as whilst they lost their vote yesterday but are in a strong position with little downside. Pharos have extended TGT and confirmed their RBL situation. United Oil & Gas have taken over the 80% interest in Jamaica that Tullow had to discard after recent financial embarrassment and Trinity Exploration comment on potential tax changes post the upcoming General Election in Trinidad.

Oil price, Rockhopper/UOG, IOG, BPC, – And finally…

Oil continues to fall, no change yet. Rockhopper and UOG complete their Egypt deal and IOG announce that CER wont be talking up the option to acquire another 50% of Harvey and Redwell licences. Finally after about 10 years i come to the conclusion that BPC now has its ducks in a row, its a huge long shot but i can no longer be quite so cantankerous...

Oil price, Predator/CERP, JOG, DGO – And finally…

Oil and equities remain subdued whilst the population stays at home, literally. Predator and Columbus have successfully injected CO2 in Trinidad which could be most exciting for the future. JOG are doing a great job at the Greater Buchan Area having acquired Equinor's interest fora modest sum. They are putting a great team together here. DGO are trading in line with market expectations ahead of results in March.

Oil price, Echo, DGO, PetroTal, Touchstone – And finally…

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.

Oil price, Predator, Rockhopper/United, Amerisur – And finally…

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.

Oil price, Anglo African, Pantheon, Reabold, Upland, United, Sound Energy And finally…

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.

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