Malcy’s Blog – Oil price, Chariot, Columbus & finally

WTI $59.56 -5c, Brent $65.37 -7c, Diff -$5.81 -2c, NG $2.17 +2c

By Malcolm Graham-Wood

Oil price

Given the week that we have had a Martian might be quite surprised to see no great change in the price of crude oil when one of the most unstable weapon-ed-up powers in the Middle East had its finger close to the red button. (Your call….) But the price fell back on Wednesday after Iran’s reply to the US seemed to be a token gesture and not worthy of further oil price expansion. Given that the current thinking is that they did actually shoot down a passenger flight packed with Iranians may mean that the domestic situation, never far from being rebellious might just have got a bit more uncomfortable for the regime.

The inventory stats didnt help either with stocks across the board rising and refinery runs falling, there hasn’t even been a cold snap worth its salt…to  produce extra demand. In the absence of any further trouble in the Gulf, which is probably too much to ask for current oil prices are probably about right, meaning much will change…

Chariot Oil & Gas

One of the stocks that holds a good deal of interest over the next few months is Chariot Oil & Gas which I have signalled worth watching as it goes to work seriously on the Lixus licence and specifically, Anchois-1. I therefore took the opportunity to get Larry Bottomley, CEO, into the studio and ask him what’s coming up. The resultant interview, linked below is a most interesting look at Chariot from top to bottom, as it were.

Core Finance CEO Interview: Larry Bottomley of Chariot Oil & Gas

Columbus Energy Resources

Just catching up on Columbus after yesterday’s update about the Saffron onshore well in Trinidad. Looking at the share price to see what the market thought of the announcement was no help at all so there is clearly much more to find out.

The company announced open hole logging to 2545 feet and cased hole logging to TD where it is currently processing and interpreting data which it will do in the coming weeks. The statement does indeed sound highly positive saying, as it does, that there have been multiple shows of hydrocarbons all the way to TD including at the primary target, the Lower Cruse.

Accordingly, as the company say being correctly conservative, full potential will be evaluated in the coming weeks which will keep shareholders on tenterhooks. CERP are incredibly positive about the SW Peninsula so it is to be hoped that this well comes in and justifies those ‘robust’ well economics here and at the rest of the acreage.

And finally…

Back to some semblance of order in the and finally… Tonight the Blades (!) host the Hammers who are team of the decade at the moment after the second coming of the Moyesiah…Tomorrow Liverpool are at Spurs who face three months without Kane, the Foxes host the Saints, the Eagles entertain the Gooners, Chelski host Burnley and the enigmatic Red Devils host the Canaries. Tomorrow the Noisy Neighbours are at Villa.

The cricket ended on Tuesday with England pulling of an exciting victory against the Proteas at Newlands, 16th Jan next stop and its now 1-1.

The Windies saw off Ireland, just, in their one day series yesterday winning off the penultimate ball of the match.

By Malcolm Graham-Wood

Source Link https://www.malcysblog.com/2020/01/oil-price-chariot-columbus-and-finally/

Website Link www.malcysblog.com


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