Malcy’s Blog – Oil price, Reabold/Deltic, Angus Energy & finally

WTI $40.75 -45c, Brent $43.37 -42c, Diff -$2.62 +3c. NG $1.72 -5c

By Malcolm Graham-Wood

Oil price

Oil is dithering, another record day for COVID-19 yesterday as the US reported over 75,000 new cases but there are other countries vying for the unenviable record. Today oil is off around 40 cents ahead of the rig count.

Reabold Resources/Deltic Energy

I note the further statement by Reabold this morning with regard to the ‘possible offer’ for Deltic Energy. It seems that the areas of difference are going to be around West Newton and of course price and whilst this isn’t an actual bid yet the price mentioned seems at first glance look like a bit of a ‘sighter’. Also RBD aren’t quite sure whether the Deltic wells are exploration or appraisal…

Whilst I have had a number of enquiries from shareholders of both companies it seems that neither management is either able or keen to talk about what is going on. I have calls into both companies which have not been replied to since yesterday and I note that neither company has IR/PR representation in this process.

I will comment next week with or without management input but hopefully with. However if this drought continues I guess shareholders will only be able to rely on statements from the company to answer questions from management about their plans…

Angus Energy

Yesterday I managed to get George Lucan in front of the Core Finance cameras as there has been much going on at Angus Energy, the link to the interview is below.

Core Finance CEO Interview: George Lucan of Angus Energy

And finally…

Another busy weekend, the football season is drawing to a close and after tonight’s game between the Hammers and the Hornets all teams will have only 2 games left which makes this game crucial, whoever wins is almost safe…

Last night the Toffees and the Villa drew 1-1, the Foxes beat the Blades, the Eagles succumbed to the Red Devils and the Riviera derby ended up Saints 1 Seagulls 1.

Tomorrow sees relegated Canaries facing the Clarets and on Sunday it’s another Riviera derby between the Cherries and the Saints.

It is also FA Cup semi final weekend, tomorrow the Gooners face the Noisy Neighbours and on Sunday it’s the Red Devils v Chelski.

It is also another F1 weekend, this week the circus is in Hungary, it has been raining this morning but when out the Mercs were the fastest.

And the 2nd test match continues, with ‘Chinese’ and ‘Creepy Jnr’ back in the hutch after getting out to the slow bowler (not to be confused with a spinner) having a fill-in over before lunch they will want to forget yesterday but not as much as Jofrah Archer….Score as I write is 220-3.

Malcolm Graham-Wood

Source Link https://www.malcysblog.com/2020/07/oil-price-reabold-deltic-angus-energy-and-finally/

Website Link www.malcysblog.com

Disclaimer: Malcy’s Blog is provided for general information about the international oil and gas industry and the companies that operate within it. It does not constitute investment advice and Malcy does not buy or sell shares, warrants or bonds in any company written about within the blog. Information is taken from publicly available sources and any comment is that of the author who does not take any third party comment in the publication.

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