News this morning from Zephyr, Union Jack, Egdon, Challenger and Predator.
A flash blog, good news from Zephyr with permits awarded and will now start drilling. Sound have to yet again submit to the Moroccan Tax authorities and Hurricane have received a derisory bid and are now up for sale.
A positive day for oil as China Covid numbers eased and the dollar eased. A good update from Zephyr, and Union Jack announced a maiden special dividend and a share buy-back. Predator are on the move in Morocco and Trinity liked the last buy-back so much that they are doing it all over a game.....From last week I look at IOG, and Reabold.
A big rise last week, mainly on Opec+ calls and other supply worries. Today Zephyr complete the deal in Utah which looks a very smart one indeed and i3 and Europa have a duster at the Serenity well. Finally Cornerstone has farmed-out Abbey and got a carry for that and an exploration well at at Baker.
Oil fell yesterday but Mr Putin's words this morning have put over 2 bucks on the price. The Fed rates decision is at 7pm our time. Zephyr have had a good year showing in Interim results and post period deal flow is impressive. Prospex are buoyed by Po Valley news and SDX are ringing the changes at board level as Aleph get the gloves out.
On a day that inflation send markets tumbling oil fell but was off the lows. Today Zephyr have an exciting deal that increases the value of the Paradox Basin and Chariot have interim results. Serica have operational problems at North Eigg and Pharos are looking tidy and about to restart paying dividends. Reabold have done a cracking deal on Corallian but go unrewarded in the market and Helium One are now drilling Q1 2023.
Oil rose yesterday ahead of today's Fed symposium at Jackson Hole Wyoming, tomorrow we will hear the rate decision. The EIA inventory stats showed a big crude draw of 3.3m with a fairly quiet product market. Today PetroTal have another excellent report, IOG update after a small reduction in guidance and Zephyr have wrapped up a small parcel of acreage at the Paradox Basin. IOG deliver the first revenue and net profit and Angus are nearly over the line at Saltfleetby whilst Hunting are mega bullish about the sector, me too. Finally, under the cover of 1Q numbers Eco manage to advertise wells coming up in South Africa and Namibia....
In a flash blog today I take a brief look at DEC, Genel, Zephyr, Touchstone and Petrofac.
Oil weakened on mixed news from China, Libya and the EIA stats, today we look at Nordstream 1 and how it is likely to return. Elsewhere a positive AGM statement you would expect from Zephyr Energy.
Oil came back on the US plans to suspend taxes on gasoline, Zephyr have results, good as expected and Sound has appointed Attijariwafa bank of Morocco which is good news and brings Tendrara closer. And Cornerstone Natural Resources is moving towards a quote I suspect.