The Oil Man: Oil price, Faroe, SDX
18th January 2017 11:58
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WTI $52.48 +11c, Brent $55.47 +2c, Diff -$2.99 -28c, NG $3.41 -1c
Both the Saudi oil minister and the head of Saudi Aramco were on their hind legs at Dav-oh yesterday, the former saying that the US supply infrastructure was "decimated" and the latter confirming that the oil market would have re-balanced by the end of the first half.
He also snuck in that the IPO would aim to raise around $100 billion (£81 billion).
Faroe
has announced that it has received four new licences in the recently announced APA round. Three are in the Norwegian North Sea of which one looks very like a possible Brasse extension, one is the Pabow prospect east of Shango and one is the Goanna prospect.
It has also received one licence in the Norwegian Sea, which contains the Canela project.
These awards being in the APA round, i.e. Awards in Pre-defined Areas, mean that Faroe is able to pinpoint such areas and adds exploration, as well as concentrating on consolidating near Brasse, for example.
With few commitments, Faroe has been wise to pick up these blocks, which underscores my favourable valuation for the future and will surely remain in the bucket list come the end of January…
SDX Energy
management have announced that they are looking at parts of and an equity raise to go with it.
And finally…
Sensational news from down under this morning, where Brit Dan Evans has beaten the number seven seed Marin Cilic…
In the FA Cup replays, there was indeed giant-killing going on, as Sutton beat Wimbledon and Lincoln beat the Tractor Boys.
Tonight in the cup, the HubCap Stealers go to Plymouth, the Magpies welcome Birmingham City and the Canaries visit the Saints.
This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.