Oil price, Wentworth, SDX, Jadestone, Premier

Oil is ending the week down around $7 a barrel despite what might be three up days, what a roller coaster. Today I look at the Wentworth results which show a company in a great position, long term gas contracts, cash in the balance sheet and no debt with the ability to pay a divvi into the bargain. This high quality management team is delivering and will probably do some more. SDX tell the market that the Sobhi well should reward their faith and be onstream next year. Jadestone yesterday also produced results very much in line with expectations, this is a great company which will continue to beat the odds. And not much to add from Premier as CEO Tony Durrant goes out on live TV last night but kept his cards pretty close to his chest.

2020-04-24T12:17:44+01:0024 April 2020|Categories: Daily Blog|Tags: , , , |4 Comments

Oil price, Rockhopper, DGO, SDX, Wentworth

Oil prices vacillated ahead of the Opec+ meeting tomorrow but the EIA STEO yesterday showed yet again lower demand numbers and the US going back to being a net importer this year. Rockhopper showed a good set of figures with further strong cost cutting and the Navitas deal validating Sea Lion. DGO have made an acquisition just as expected in these markets, accretive returns will 'validate' the dividend. SDX have a discovery in Egypt and Wentworth has comforted the market with regard to its 2019 results.

Oil price, BP, Sound, Echo, Eco, Wentworth

Oil has been very much unchanged over the quarter end and contract rollover and is so today, a lot of talk about who has spoken to MbS... BP have announced 25% capex cuts, in line with others whilst Sound Energy are still discussing their GSA in Morocco. Echo Energy has been restructuring its debt with a number of successes already agreed and Eco Atlantic has pared back costs and remains very well placed when drilling recommences. Finally, I spoke to Wentworth Resources this week and I am convinced that with their very strong model and solid finances they are as good as any in the sector.

Oil price, RockRose, Trinity, PetroTal, Wentworth Resources, DGO – And finally…

The oil price has fallen further and faster than virtually ever before, today it recovered, stand by for stormy weather. Stock-wise i'm talking about RockRose, Trinity , PetroTal, Wentworth and DGO from yesterday, with apologies.

Sound, Coro, Echo, Wentworth, Eco, Longboat, Talon, + Africa Oil Week 2019 videos…

Today I talk about management changes at Sound Energy as its metamorphosis continues and also Coro Energy as it announces another successful well. Echo Energy has completed its deal and now looks forward to Tapi Aike whilst Eco Atlantic has fallen due to heavy oil, unnecessarily in my view. At Wentworth former CEO Eskil Jersing has been given the El Bow as potential acquisitions failed to materialise. There is a Longboat coming over the horizon laden with former Faroe management looking for funding to go back and do it all again. And Talon Petroleum is also queuing up to invest more in the North Sea. Finally a slate of video interviews by myself and VSA CEO Andrew Monk recorded at Africa Oil Week.