Oil rallied and then some after the US invoked sales from the SPR handing advantage to Opec+ ahead of the Dec2 meeting. PetroTal has some local difficulties in Peru and UOG have an extension in Jamaica. Jadestone take another 10% of Lemang and President announce a bond issue. Block has announced that gas sales from well KRT-39, located in Block XIB, have commenced and I interview Ed Story, President and CEO of Pharos Energy.
Oil will be slightly down on the week after a mix of news and Opec being somewhat more cautious. DEC announce that it has monetised some of the Haynesville assets bought in the summer and UOG have spudded again in Abu Sennan. Finally, Block have had a disappointing result at WR-B1a.
Oil rallies today, DEC and Chariot announce Capital Markets days and UOG bring on the ASX-1X Discovery in the Abu Sennan licence,
Oil remains strong and unlikely to change much under current circumstances. Orcadian has done a smart farm-out deal on the Carra prospect and this management team are worth a look at. Longboat announce that the Rødhette exploration well is a discovery but 'at the lower end of pre-drill expectations'. Getech continue to move fast and have made a meaningful signing whilst UOG update on production.
Oil remains flat as one might expect on Labor Day, traditionally the end of the summer driving season. I look at Genel with its latest payments from the KRG as well as newly licensed Challenger. Years of patient waiting for Falcon in Australia appears to have brought success at Beetaloo and a guidance warning from UOG as they find too much water at ASH. Finally Advance are nearly ready for Buffalo-10 and Serica are making out like bandits as the Rhum well comes in very well indeed.
Oil was flat last week in the end, but is down today on further bad Chinese economic data. Challenger updates on conclusion of the legal case, an update on findings post the P-1 well, discussions with the Government on licence extensions and a farm-out process. UOG has spudded its latest exploration well in Egypt and Longboat update saying that with approval from the Norwegian Energy Ministry they expect to complete the farm-in on 1st September this year. Finally today sees the Service of Thanksgiving for Bruce Dingwall. RIP
A bounce in crude oil today after worries about Covid cases in Asia led to worries about Chinese economic growth. Tower Resources has announced it is in HoT to farm-out 49% of the Thali PSC which is great news for them. Also UOG has sold its stake in Selva in Italy to Prospex Energy which is using borrowed money to pay for it, are you sure...?
Last week oil continued its upwards progress by a bit more than a dollar even after the Brent September contract expired at the weekend. Angus has put out a comprehensive operations update which makes the progress achieved by the management this year very solid indeed. Jadestone has completed its Peninsular Malaysia assets of Sapura and UOG has had a success at its AJ-8 development well in Egypt.
Oil remains strong after a good set of API stats, today will show whether last week's EIA numbers were abnormal. More news from Zephyr and Challenger update. Predator update across the board and have a board change while UOG are selling out of the UK North Sea. Finally Hurricane update on the Aoka Mizu, meanwhile gossips are talking about another corporate raider for the Godalming based explorer.
Oil was up on the week and gas up by 11% in the US. Longboat announces that it is on track to spud the Egyptian Vulture prospect where they have 15% and plenty more to come. A solid trading statement from UOG and a change at Prospex where CEO Ed Dawson is moved on to be replaced by ex IOG chief Mark Routh.