WTI $52.89 -36c, Brent $61.56 -52c, Diff -$8.67 -16c, NG $4.47 +1c
The day of the Opec+ meeting has arrived with seemingly little consensus but for a general agreement that production cuts are necessary. I suspect that this will be one of those meeting outcomes that will be some sort of a fudge, ie an agreement to cut production by say, 1.4m b/d but behind the scenes will cut by more if the oil price doesnt rally somewhat. Watch this space…
News from Rose’s Gunnison Valley Unit in the Paradox Basin, Utah, USA this morning. The company has agreed a plan with the Utah BLM to extend the boundaries and include the recent acreage where the GVU 22-1 well is located. The well is considered to be a top ranked well location based on 3D seismic and with proximity to the successful 28-11 well. The plan is to drill this in Q1 2019 by which time the necessary funding will have been secured.
Rose has been working closely with Schlumberger on this process in order to optimise all aspects of the well, including the fractured networks to maximise its performance. This careful analysis and developing a good working relationship with the Utah BLM makes it clear that the company has something potentially very substantial on its books and i’m sure that the diligent approach will pay off for patient Rose shareholders.
Last night’s footy saw Liverpool and Spurs win, Arsenal could only draw at Old Trafford and Chelski losing at Wolves. With the Noisy Neighbours winning on Tuesday night the top two are remaining comfortably at the top of the tree.
As part of the listing, the company raised £523,500 before expenses through a share placing. It has also issued warrants that if they were all exercised would raise a further £1.3 million.
On today's podcast: Hummingbird Resources discuss 2019 guidance and its drill results from the 2018 exploration campaign. Europa Metals talks about their Scoping Study. Block Energy discusses the advanced technology they have secured for their multi-well programme in Georgia. Chris Bailey covers: Superdry, Bonmarche, Thomas Cook Group, Tui Group & PZ Cussons.
See Today's AIM Risers Featuring Thor Mining Upgrading its Mineral Resource.
SP Angel morning look at commodities featuring: Bacanora Lithium (BCN LN) – Blackrock cuts stake Erris Resources (ERIS LN) – Exploration update Hummingbird Resources (HUM LN) – Progress report on exploration drilling Savannah Resources (SAV LN) – High-quality saleable by-product from Mino do Barroso lithium project Thor Mining (THR LN) – Mineral resource update at Pilot Mountain
Hummingbird Resources, an African gold producer, released the second set of drill results from their exploration campaign in Mali. The company aims to transform its resources into reserves and eventually extend the life of their Yanfolila Gold Mine.
Shield Therapeutics (STX) announced today that the US Food and Drug Administration has confirmed that the target date for completion of the New Drug Application review of Feraccru is 27 July 2019, under the terms of the Prescription Drug User Fee Act.
Five financial stories, trending today in a 70 second podcast, including: Theresa May is heading to Brussels for an EU summit, less than 24 hours after surviving a vote of confidence. The prime minister is seeking legally binding pledges from EU leaders on the Irish backstop - a key obstacle for MPs who oppose her Brexit deal.
GST is an innovative global technology and investment company. Its main business is its profitable, 28-year old, Singapore - based subsidiary - EMS Wiring - that provides integrated Information and Communication Technology (ICT) solutions worldwide.
On today's podcast: Dr. Clifford Gross, Chairman at Tekcapital give an update on their portfolio companies. Sachin Oza, Co-Chief Executive Officer of Reabold Resources provides an update on their operations. John Meyer covers BHP Billiton Rio Tinto, Anglo-American Mining, Mkango Resources, Anglo-Asian Mining & Bluejay Mining.