Malcy's Oil Report - EDR, EOG, UJO, PMG

Friday, Mar 27 2015 by
4
Malcys Oil Report  EDR EOG UJO PMG

WTI $51.43 +$2.22, Brent $59.19 +$2.71, Diff $7.76 +49c, NG $2.67 -5c

Oil price

Its all about the Yemen, as for the first time for a while a good old fashioned geo-political flare-up adds five bucks to the oil price. Indeed, at one stage yesterday Brent nearly negotiated $60 but came off at the end and today its $50 and $58 for the pair. This is because people have worked out that there is only the slightest risk of any supply disruption from the Middle East as a result of this jousting. By now, as they did with things like the rig count, even the most amateur of commentators (not you Marcus, you are such a pro…) know what and where the Bab el Mardeb is and how it too can de diverted around. Not that the Houthi arsenal contains anything serious enough to stop shipping at 50 miles…one hopes.

Deal or no deal?

In all this and despite much chatter about Iran it should be noted that the next deadline is only four days away, so by Tuesday there will have to be either a deal or a further pushing of the debate into the long grass, the banker offers you short shrift and no surprise, despite optimism there are still many hurdles.

In a couple of hours we will see the latest Baker Hughes rig count, unless it is a massive surprise one way or another I have a feeling that the market is becoming rather inured to the process and oil will end up, up on the week.

Egdon / Europa / Union Jack

More news today from Wressle-1, the well that keeps on giving. This time, zone 3a in the Penistone Flags has flowed 33º API crude oil at an average rate of 77 b/d perforated over a 7.5m interval. This makes the licence valuable, with the low onshore costs this will be economic at todays prices and I expect further testing and  longer term production set up. Hydrocarbons from three separate reservoirs is well worth the while and with plenty of other wells to drill all the participants will be keen to get it under way.

Parkmead

I get the impression its a bit of a guilty secret liking Parkmead and its mercurial boss but I do rather like what he has set up and these figures prove that he is on the right track. Usual…

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Egdon Resources plc is a United Kingdom-based company, which is engaged in onshore oil and gas exploration and production business with over 40 licenses in oil and gas producing basins. The principal activity of the Company is exploration and production of hydrocarbons in the United Kingdom and France. The Company's segments include UK and France. The Company's portfolio of production, development, appraisal and exploration projects are conventional and unconventional hydrocarbons. The Company's projects sites include Wressle Oil and Gas Discovery, Laughton, North Kelsey and Biscathorpe. The Company holds interest in Petroleum Exploration and Production Licenses (PEDLs) and Production Licenses (PDs). Its licenses include PEDL001, PEDL011, PEDL037, PEDL039, PEDL043, PEDL130, PEDL191, PEDL202, PEDL258, PL161-2, PEDL001 and Pontenx. more »

LSE Price
7.15p
Change
4.4%
Mkt Cap (£m)
17.8
P/E (fwd)
n/a
Yield (fwd)
n/a

Europa Oil & Gas (Holdings) plc is a United Kingdom-based exploration and production company. The Company is engaged in oil and gas exploration, development and production. The Company operates through three segments: UK, Ireland and France. The Company's assets and activities are located in the United Kingdom, Ireland and France. The Company has a diverse portfolio of both conventional and uncoventional hydrocarbon assets at various stages of the development cycle, including exploration and production. Its production fields in the United Kingdom include West Firsby, Whisby and Crosby Warren. Its exploration fields in the United Kingdom include Wressle-PEDL180, Broughton-PEDL182 and Holmwood-PEDL143. Its exploration fields in France include Berenx Deep-Bearn des Gaves, Berenx Shallow-Bearn des Gaves and Tarbes Val d'Adour. Its exploration fields in Ireland include Doyle A-FEL 2/13, Doyle B-FEL 2/13, Wilde-FEL 3/13, Beckett-FEL 3/13 and Shaw-FEL 3/13. more »

LSE Price
3.35p
Change
1.5%
Mkt Cap (£m)
14.7
P/E (fwd)
116.9
Yield (fwd)
n/a

Union Jack Oil plc is an onshore oil and gas exploration and production company. The Company focuses on drilling, development, investment and production in the United Kingdom hydrocarbon sector. Its projects include Wressle, located on PEDL180; Burton on the Wolds, located on PEDL201; Biscathorpe, located on PEDL253, and North Kelsey located on PEDL241. It holds interest in PEDL180 located in Lincolnshire, on the Western margin of the Humber Basin and is on trend with the producing Crosby Warren oil field and the Brigg-1 oil discovery, which is situated to the immediate northwest and southeast of the license respectively. PEDL253 is located within the hydrocarbon fairway of the Humber Basin, on trend with the Saltfleetby gas field and the Keddington oil field, which produces oil from the Upper Carboniferous Westphalian aged reservoir sandstones. Its PEDL241 is located within the hydrocarbon fairway of the Humberside Platform. Its Keddington oilfield is located within PEDL005. more »

LSE Price
0.09p
Change
 
Mkt Cap (£m)
7.6
P/E (fwd)
n/a
Yield (fwd)
n/a



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About Malcolm Graham Wood

Malcolm Graham Wood

Malcolm has over 30 years' experience in the Oil & Gas sector and is a widely used media source. He often appears in print and on screen, and also writes an acclaimed daily blog read by much of the resources industry as well as investors both institutional and retail.Malcolm is a Founding Partner of HydroCarbon Capital, which provides independent advisory services to the Oil and Gas sector. He is a Director of the Maven Income and Growth VCT 4 PLC, a venture capital trust listed on the Premium segment of the main market of the London Stock Exchange.He started his career at Wood Mackenzie in 1979. He was an inaugural member of the No 1 Extel rated James Capel Oil & Gas team and also headed up corporate broking, acting for the Government in sales of British Gas, Britoil and other utilities. Subsequently he became Head of Equities and main board Director at Williams de Broe before moving to Teather & Greenwood. Following that, he ran his own consultancy for several years, acting for a number of quoted and private companies as well as being a board member and advisor. He has been a Director at Noble and then Westhouse Securities and has extensive contacts in the Oil & Gas sector globally. More recently Malcolm has been the lead advisor to an HSBC Zurich trust on oil, gas and energy investments as well as working with the oil team at VSA Capital.- See more at: http://www.malcysblog.com/about/#sthash.Jdn1d7dK.d... more »

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