Oil has recovered after yesterdays fall as the most influences are pushing upwards. More incredibly good news from Zephyr who are rewriting the business school books about how to build an oil company. Jadestone has yet again delayed Maari, it appears that the N Z Government are behind the delay and Prospex seem to have made some simple mistake on their sums.
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 ...
An update from Zephyr this morning as they move swiftly ahead at theParadox Basin. Also JOG have done some housekeeping on the GBA development.
The oil price, along with many markets has taken a beating after Covid numbers rising in China appear to be putting the mockers on economic growth. I wouldn't however bet against the oil price too much, Opec+ have a strong ability to close off the production if needed as we saw last year. More good news from Zephyr from Paradox Basin and San Leon has wisely held off taking a repayment until operational readiness. Finally Falcon Oil & Gas remains hard at work in the Beetaloo.
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 is staying put with Brent at $75+ and WTI at $74+ with the agencies all scheduled to report and likely to firm up demand numbers I suspect. Kistos has started its life very strongly and updates today and ever solid Serica shows good results from its Columbus development well. Zephyr has got under way with the State 16-2-LN-CC well and also some non-dilutive funding for additional data acquisition. President has an operational update as does Block and SDX announced a successful well in Egypt.
With the month, quarter and interim ending tonight and the Opec+ meeting tomorrow books are flat ahead of the US Independence holiday weekend. Last night the API said that crude drew 8.2m barrels. VOG update on trading, Union Jack and Egdon announce a short delay at Wressle and Egdon has raise money this morning. Zephyr share their thoughts on Paradox, its bigger than you think...Hurricane heeded the High Court and the NED's have all resigned, the shares rose 25% on the back of that and Crystal Amber are vindicated. Positive news from Advance and Getech make up the pack...
Oil has drifted today after last week hitting fresh highs and natural gas had a great week too. The Hurricane board have lost their case in the High Court as they attempt to rob the equity holders of 95% of their value. Petrofac has reported a trading update in line with expectations but only when the CFO case is dropped will they start to shift up a gear. Eco Atlantic has done a great deal with a raise into the bargain in a deal that brings exciting near term drilling in Guyana. And Zephyr has signed a contract with Cyclone drilling for the upcoming State 16-2LN-CC well.
Oil is quiet, yesterday it was good inventory stats offset by more worries on inflation. Predator announce that the rig is on its way to Guercif, Eco has been further delayed to the Tullow problems, Hurricane have 3 announcements but shareholders should vote to save their equity. I interviewed Steve Bowler CEO og IGas where he talked me through geothermal and hydrogen. Zephyr are also on the move with more wells on stream and earning money.
Oil is modestly holding its ground today and with a fair wind will be up on the week despite the attempts of two of the reporting agencies. Predator update on Morocco ahead of their drilling and I look at the LNG situation whilst Zephyr are joining the OTC where friendly Americans might like to buy the shares. Gulf Keystone update on growing production at Shaikan and Jadestone confirm their dividend.