Opinion

Oil price, Kosmos Energy, Zenith Energy, Getech Group And finally...


Oil price

A quiet day on Friday, crude still ended up on the week, WTI by 58c and Brent by $1.39, this morning we are up by around 50c. So, Nicholas Maduro won his election in Venezuela and the US State department are saying that US sanctions are ‘under active review' as Washington do not recognise the election results.

Elsewhere the Indian Oil Minister appealed to the KSA not to squeeze oil too high as it would damage their nascent economic recovery, the reply was to be expected, ie, we will keep markets well supplied at all times. The temporary lifting of the trade dispute between the US and China also eased market worries and the CFTC announced that professional punters had taken money off the table and cut long positions. Even the rig count was unchanged at a time when Bo Diddley said that he saw oil prices back down to a more manageable $50-65…..

Kosmos Energy

The company has encountered bore hole issues at their Anapai-1 well at block 45 offshore Suriname and have decided to re-spud for the same target as Anapai-1A. That will be another 50-60 days and a bit more cost but best to make a clean break of the well and start again.

Zenith Energy

Zenith has filed its independent CPR up to 31/3/2018, 2P reserves in Azerbaijan are deemed to be 31.7m barrels of oil (32.1) while in Italy natural gas 2P reserves are 16.4 Bcf (15.36). The company also say that there is a new investor presentation scheduled for publication on their website today which will, amongst other new data, show all-in average oil production costs falling from $19 pb to $13 pb when production in Azerbaijan gets to 1,000 b/d. These numbers justify managements faith in the size of the prize in country and are building a platform to produce from it.

Getech Group

Getech has announced that the Sierra Leone fourth licensing round has been extended due to extra time being played in the election. The original date of 28th June has been extended to the 27th September and Getech, who are ‘exclusively supporting' the process which has generated significant levels of interest from international oil and gas companies.

This is important for Getech as it has a revenue sharing agreement with the Government and that ‘As disclosed in the Annual Report, a single licensing of the full Sierra Leone dataset has the potential to be a disclosable event for Getech'.

And finally…

 

With football matches like Saturday's Cup Final it is a joy to say goodbye to the Premiership club's season and you can be sure that next week's Champions League final and the divisional playoffs will provide more entertainment, as for the World Cup i'm not so sure, from England that is….

In the French MotoGP at Le Mans, Marc Marquez spoiled the French fans party when he cruised to the flag after home hero Johann Zarco's challenge finished in the gravel and Dovizioso crashed out. Petrucci fought hard for 2nd place keeping at bay Valentino Rossi who returned to the rostrum in 3rd. Despite earlier leading the race, Lorenzo's lucrative but unhappy time with Ducati must surely be coming to an end after a disappointing 6th place whilst Cal Crutchlow suffered a huge highside in qualifying and had to spend the night in the Le Mans hospital but fought back in the race to an heroic 8th place.

The end of season rugby saw an almost festival like points fest with Sarries scoring 57 of the 90 points as they beat Wasps and the Exeter Chiefs despatched Newcastle 30-5.


Visit source site

https://malcysblog.com/2018/05/oil-price-kosmos-en...

Malcy's BlogKosmos EnergyZenith EnergyGetech

More items from malcy


Rockhopper, And Finally...

Rockhopper RKH has announced an Egypt update this morning and progress is certainly being made in the ‘Greater Med'. At Abu Sennan production is being maintained at 4/- boe/d gross, net 880 to RKH. They have also announced the drilling campaign for the summer which comprises exploration and deve ...

Malcolm Graham-Wood - Malcy's Blog


Posted 3 hours agoOpinion > RockhopperMalcyMalcy's +1

Oil Price, Sound Energy, Echo Energy, Jersey Oil & Gas, and Finally…

WTI $66.89 +25c, Brent $75.94 -80c, Diff $9.05 -$1.05, NG $2.96 n/c Oil Price Once again prices were very mixed yesterday, even the differential is back into single figures after Brent fell and WTI strengthened. Another very strong day for the dollar didn't help but the terrorist attacks in L ...

Malcolm Graham-Wood - Malcy's Blog


Posted 4 days agoOpinion > oil priceSound EnergyEcho Energy +5

Oil Price, VOG, SDX, Petro Matad, Reabold Resources, Pantheon, and Finally…

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 the meeting of minds today is in Moscow as the big four, Putin, MbS, Novak ...

Malcolm Graham-Wood - Malcy's Blog


Posted 5 days agoOpinion > oil priceVictoria Oil & GasVOG +6

Oil Price, Enteq Upstream, Upland Resources, Block Energy, and Finally…

WTI $66.36 +26c, Brent $75.88 -58c, Diff -$9.52 -84c, NG $2.94 -1c Oil Price Well, you can as they used to say, you pays your money and takes your choice with regard to what might happen in the oil market in the run up too and after, the Opec meeting next Friday. Pretty much all options are s ...

Malcolm Graham-Wood - Malcy's Blog


Posted 6 days agoOpinion > oil priceEnteq UpstreamUpland Resources +4

Oil Price, Echo Energy, Touchstone Exploration, and Finally…

WTI $66.10 +36c, Brent $76.46 n/c, Diff -$10.36 -36c, NG $2.95 +6c Oil Price The usual pre-Opec cat and mouse position taking kept oil prices virtually unchanged yesterday. The Iraqi Oil Minister reaffirmed the comments I recently published, this time saying that ‘prices need support and stab ...

Malcolm Graham-Wood - Malcy's Blog


Posted 7 days agoOpinion > oil priceEcho EnergyTouchstone Exploration +4
All posts from malcy