Oil Man Jim Company Oil & Gas Podcast, Mid-Week Blog, 12th February 2020
February 12, 2020
Starting on a positive note, 88 Energy (88E) announced an operations update. The ice road is more than 80% complete, the drill permit has been issued and spud is anticipated later this month. Another one with a potential major drill, Bahamas Petroleum Company (BPC) started the week announcing a Bahamian mutual fund update.
Tower Resources (TRP) announced a Cameroon operational update. The marine survey vessel completed its work at the well site last Friday and the company's initial view is that the data from the three boreholes are consistent and in line with pre-survey expectations. It all now comes down to whether or not they can negotiate a farm-out. If they do, it flies.
Rose Petroleum (ROSE) put out a couple of announcements. They're still talking about a farm-out of their Paradox acreage, but they've been doing that for years.
Petrel Resources (PET) issued an update regarding the Tamraz group shares. They didn't even try to explain it, but just posted a link to a letter from the group.
Zenith Energy (ZEN) issued an announcement headlined "Successful Issue of Bonds & Operational Update." Perhaps slightly misleading to use the word "successful." I mentioned Hurricane Energy (HUR) last weekend, saying that I had cautioned about it towards the end of last year when it was in the 30s and it was now down to 17p.