Oil falls again after Joe Biden rallies countries to sell down their strategic holdings, only so much this weak tool can do, then its gone...Wentworth announce an MOU with Vitol and SDX restart drilling in Morocco. Pharos yesterday had good well news from Vietnam which makes them even change
Oil fell yesterday ahead of today's Opec+ meeting, just what they wanted...Today Genel have a trading and operational update whilst Wentworth appoint a COO and Cairn is to become Capricorn.
A flash blog today as I'm away for a couple of days. Wentworth Resources A record set of interims from WEN this morning due to growing demand and ‘increasingly stronger ...
Oil rallied yesterday and is better again today. Union Jack and Reabold have little say about west Newton, just yet and Pharos looks better in Vietnam. Wentworth have a new NED and Harbour have two profit warnings today on run of the mill operational matters.
Oil is comfortable as the second half demand is getting stronger and stronger with calls on Opec getting bigger. An excellent statement from Wentworth who are looking in very good nick indeed whilst Angus do a little housekeeping around the portfolio.
Oil has weakened a bit as India in particular is reporting much worse virus numbers on a daily basis. Wentworth has reported excellent finals and a 27% hike in the divvi. Kistos was priced at 155p but that looks way too cheap to me as a few blue chip instos climbed aboard in the raise. President have more good news on the operational front and Hunting remains best in class as proven in the year since negative WTI prices.
Oil is weaker today after the storm in Texas shows signs of moderating, the US are taking the expected anti Saudi Arabian stance as well as resuming talks with Iran. The EIA inventory stats showed a big crude draw and an expected build in gasoline and draw in distillate stocks. Union Jack has announced a 200:1 share consolidation and confident statement whilst Wentworth join the United Nations Global Compact. Finally Sterling Energy have announced big changes, Waterford and Mistyvale have sold their stakes which have been placed with institutions and HNW's. This paves the way for ex Tullow team of Paul Mc Dade and Ian Cloke to come in and utilise their expertise in West Africa.
Oil marches on, with more vaccines that trade is looking pretty positive. Combined with China positive data and Opec solidity it is as MbS would say 'no time to be short crude oil'. PetroTal has completed its $100m bond issue and is now looking forward with confidence after a tricky year and Wentworth are also in a very strong position both financially and operationally and also reserves wise. Erratum on BPC which got missed out of the IGTV interview and JOG has provided a great video on the GBA plus an updated presentation.
Oil drifted yesterday and is down around 40 cents today. Wentworth is looking very strong and worth a look, Zephyrs State 16-2 well looks like it has come in and Hurricane updates the market. Lamprell has announced good numbers and a strategic reorganisation. Pantheon has spudded an appraisal well chasing a billion barrels and Tower has raised £1.25m to pay off the Shard facility..
The 2021 Bucket List.