Malcy talks about the following stocks: Sound Energy (SOU), Amerisur Resources (AMER), Faroe Petroleum (FPM), Ophir Resources (OPHR), Aminex (AEX), Victoria Oil & Gas (VOG), Pantheon Resources (PANR), Anglo African Oil & Gas (AAOG) and Rose Petoleum (ROSE)
The oil price finished the year down 19% in Brent and 25% in WTI terms as world markets worry about China, either its economy or dispute with the USA over tariffs. AMER has announced a substantial discovery with ONGC which will prove very valuable, and the VOG recovery continues with final approvals for the vast Matanda block. Faroe has provided a very strong defence in its valuation document and RockRose has also provided substantial year end numbers. Finally as the oil price remains low, another bid appears in the sector this time for Ophir Energy.
Oil remains weak and will likely do so until the New Year. Today sees Victoria Oil & Gas regaining their contract in Cameroon and now look in a very strong position heading into 2019.
A mixed bag on the oil price front but a small rally this morning, China and geopolitics is positive, stocks are rising and traders are selling down long positions. At President the first well in the next of three looks highly impressive and might push production up again with two more to play for. At Echo a very useful boost to production and sales from a pilot programme at FD is very positive, over at VOG they are still without the ENEO contract but are building the business. Finally a potentially really exciting piece of news from Zenith in Azerbaijan.
A small rally in the oil price yesterday and again today. SDX has further success at South Disouq, VOG are fighting back in Cameroon whilst Faroe are trying to repel Norwegian boarders. IOG has raised the money for the Harvey well from London Oil & Gas.
With the oil price all over the place I look at the Opec report, I also look at another excellent discovery from Savannah in Niger and write up my chat with Dr Steve Staley of Upland Resources. I also chatted to Andrew Austin Chairman of RockRose and met with Eytan Uliel of Bahamas Petroleum. Plus two links to this week’s interviews.
Interim bucket list The bucket list has been going now for just under three years, it started when a leading Fund Manager asked me to put together a selection of stocks that would make a decent return when the oil…
This week Malcy talks about the following stocks: Sound Energy #SOU, Echo Energy #ECHO, Victoria Oil & Gas #VOG, Faroe Petroleum #FPM, Diversified Gas & Oil #DGOC, Rockrose Energy #RRE
WTI $68.08 -50c, Brent $74.73 -82c, Diff -$6.65 -32c, NG $2.92 -2c Oil price A slight drift yesterday as the market considered the opec and Non-Opec meetings and fretted about a potential 1m b/d of extra oil. Now let’s be…
WTI $66.64 +28c, Brent $76.74 +86c, Diff -$10.10 +58c, NG $2.96 +2c Oil price A bit of same old, same old as the market scrabbles for information now only eight days ahead of the Opec meeting. As I mentioned yesterday…
