Day one of two is over for Baghdad’s central oil & gas ministry and the results are an embarrassing flop. But there’s still one day to go (tomorrow) so not all is lost just yet. With business booming in the more lucrative north part of the country known as Kurdistan – the south is struggling …
2012 May
Parkmead expand with Deo takeover/offer
A late intraday RNS from both DEO and Parkmead certainly surprised many. The tie up/merger/offer looks a smart move for both companies as each one is stronger when combined as a greater company. It gives DEO shareholders immediate exposure to the current Parkmead platypus drill which is expected to TD in the next couple of …
Genel/GKP update on Ber Bahr-1 Exploration Well
Exploration in Kurdistan is far from simple – just ask Sterling Energy or Heritage Oil. Finding Oil is the number one priority as it it deemed much more valuable than Gas finds. Today’s news from Genel (the operator) on the BB-1 well is mixed. Firstly, finding a 300m oil column is extremely encouraging indeed. Especially …
Gulf Keystone Full Year Results and Analyst Presentation
No major surprises in GKP’s results announcement today but a few small insights were taking note of. The comment on the Sheikh Adi-1 caught my eye… “Sheikh Adi-1 exploration well reached TD at 3,800 metres with the gross pay interval of 2,790 metres, 35% increase on Shaikan-1″. With SA-2 underway, the company is clearly drawing …
2012 Hotlist Results – Week 21
Week 21 of 2012. A better week for Equities as the markets took a breather from the previous weeks mass exodus based sentiment. Eurozone issues continued to bubble along with more Spanish than greek woes as the Catalan’s placed a further bank (Bankia) into the stewardship/protection of state hands. Early Greek poll indications suggested ‘a …
GKP – Spudding of Sheikh Adi-2 Exploration Well
GKP spud SA-2 with a target of just 2450m. It’s more than possible that they will extend this depth if the well shows encouraging signs. Assuming an average drill rate of around 25m per day – the well should TD in early Sept. It’s very likely that all current wells on the Shaikan block will …