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Oil Man Jim Company Oil & Gas Podcast & Mid-Week Blog, 11th March 2020
March 11, 2020
RockRose Energy (RRE) was hammered on Monday, "closing the gap" from its last pre-suspension price.  Jadestone Energy (JSE) issued strong news, confirming "the business is resilient and expected to generate positive operating cashflow in 2020, even at oil prices below US$30/bbl.  Trinity Exploration & Production (TRIN) confirmed their "operating break-even has consistently been below US$30.0/bbl in all periods since the new management's measures took effect in 2016." South American producer/developer, PetroTal (PTAL), also took a hammering.  It's 2020 capital program is based upon $60 oil.  Baron Oil (BOIL) announced the completion of its £2.5 million placing at 0.1p per share Tower Resources (TRP) managed to get away a £500,000 placing at 0.375p just in the nick of time.  Now, lets see if the first farmee provides proof of funds this month and whether the second one signs up. Solo Oil (SOLO) announced the return of the ONE-Dyas deposit.  Bahamas Petroleum Company (BPC) announced the possible execution of a possible convertible loan note agreement deferred to 15 April, perhaps 15 May. UK Oil & Gas (UKOG) announced the flow of dry oil to the surface as a result of their water shut off programme. Egdon Resources (EDR) announced that the subsurface review of their eastern Humber Basin licences has identified a new low-risk near-field exploration opportunity Union Jack Oil (UJO) has an even larger interest than EDR in these now and announced it's also expecting news during the remainder of Q1 and Q2 in respect of the extended well test at West Newton A-2 Meanwhile, 88 Energy (88E) confirmed the Charlie-1 surface hole is complete to around 3,500 ft.