WTI (Mar) $62.84 -$1.79, Brent (Apr) $67.52 -$1.88, Diff -$4.68 -9c
USNG (Mar) $3.22 +6c, UKNG (Mar) 74.71p -1.79p, TTF (Mar) €32.40  -€0.525

Oil price

After Yesterday’s fall oil is up modestly this morning, yesterday when the US announced that the Iran talks could last ‘a month’ oil fell, today they have announced that aircraft carrier the USS Gerald Ford has been despatched to the Gulf, if further armed support was necessary…

The IEA was projecting further supply problems with demand down but their figures are meaningless after their credibility has been shot to pieces after the historic climbdown about net zero data. 

Southern Energy Corp

Southern and three related arm’s length private investors, Treelawn Group Inc., TCC 1 Corp. and TCC Royalty Corp, have announced the completion of Southern’s previously announced offering, on a non-brokered private placement basis, of senior secured convertible debentures and new common shares  and sale of a newly-created gross overriding royalty to the Investors for aggregate net proceeds of US$22.0 million after a 8.8235% original issue discount equivalent to US$1.5 million on the Debentures. Any early warning reports and insider reports required under applicable Canadian securities laws will be filed in accordance with regulatory requirements. 

All figures referred to in this news release are denominated in U.S. dollars, unless otherwise noted.

Ian Atkinson, President and Chief Executive Officer of Southern, commented:
“We are pleased to have completed this financing, which meaningfully strengthens Southern’s balance sheet and positions the Company for disciplined execution of our development program. With the retirement of our prior higher cost senior credit facility and the addition of a supportive long-term capital partner, Southern is well positioned to advance its Gulf Coast assets and focus on operational delivery and value creation for shareholders.”

Completion of the deal recently announced and conformation of what is very good news for the company and its shareholders. Replacing the expensive debt at half the coupon, bringing in a new, highly supportive investor and now well funded for drilling at the Gwinville and at Williamsburg is great news. 

Europa Oil & Gas

Europa has announced that, further to the announcement of 6 October 2025, the formalities to finalise the licence extension are now complete by all parties. As a result of the extension, the first sub-period of Phase 1 of the PSC will expire on 4 October 2026.

As announced on 30 December 2025, Antler Global Limited signed a Farm-out Agreement with Fuhai (Beijing) Energy Limited for a 40% interest in EG-08. This agreement remains subject to relevant regulatory approvals.

Nothing new here but helpful…

Original article   l   KeyFacts Energy Industry Directory: Malcy's Blog