Member Info for Phoebus

'Repsol will lease the Noble Regina Allen jack-up drilling rig from Noble Corporation to drill the Beebei-1 well in June 2022.'
https://www.repsol.com/content/dam/repsol-corporate/en_gb/accionistas-e-inversores/cnmv/2022/ori28042022-q1-2022-results.pdf

Kanuku shares 3 licence partners with Orinduik. Drill target selection should be soon after results.

That would be great. You'd think there would be plenty of interest in light of recent developments. Additionally, Gazania is very close to shore and in relatively shallow water making it even more attractive. The Ibhubesi gas condensate field only a few km from Gazania has 94.3 MMBOE 2P. Gazania-1 dwarfs that.

That would be great. You'd think there would be plenty of interest in light of recent developments. Additionally, Gazania is very close to shore and in relatively shallow water making it even more attractive. The Ibhubesi gas condensate field only a few km from Gazania has 94.3 MMBOE 2P. Gazania-1 dwarfs that.

John, my thoughts exactly. If the directors can buy there must be no major news for the foreseeable. We've had quite a move in just over a week, so perhaps a bit of consolidation. GLA

The funding required for MOU-4 and 5 is minuscule as I have already pointed out. The most recent broker note indicated $5-6M is all that is required. That's peanuts. The correct time for them to do it should be either just before or just after the MOU-1 flow test when the SP increases. The current SP malaise does not make sense in that regard.

The funding required for MOU-4 and 5 is minuscule as I have already pointed out. The most recent broker note indicated $5-6M is all that is required. That's peanuts. The correct time for them to do it should be either just before or just after the MOU-1 flow test when the SP increases. The current SP malaise does not make sense in that regard.

The target size for Gazania-1 is not the much vaunted 349 MMBOE gross, but actually 409 MMBOE gross according to the recent CPR.
https://wp-ecooilandgas-2020.s3.eu-west-2.amazonaws.com/media/2022/03/AIM2022CP-ECO-Report-final-3-22-2022.pdf

Gazania-1 is targeting 2 independent intervals, Namaqualand 191 MMB, 28 BCF and Gazania 208 MMB, 31 BCF on a 2U basis. 191 + 208 + ((28 + 31) / 6) = 408.8 MMBOE gross or 204.4 MMBOE net to ECO. Assuming the targets are independent of one another the chance of at least one being successful is (1 - ((1 - 0.371) x (1 - 0.347))) x 100 = 59%, which must be the source of the 60% COS figure I remember seeing somewhere for Gazania-1.

SP looks like it is starting to head north. Not surprising given those stellar rare earth drilling results. Chance to get in ahead of lift-off on LSE listing later this month. Can't wait. SP should multibag from these ridiculous levels. Market cap still only £3.7M.

Below the placement price for the MOU-1 flow test. Farcical.

Hello.

SP movement is farcical.

The LSE SP is farcical. We are currently only 10% higher than 6 weeks after the COVID crash lows. Since then oil has skyrocketed with Brent currently at $112.5 and most oil stocks have gone through the roof. In that time ECO has also seen a significant number of hugely positive developments.

In Guyana we have increased our net acreage several fold and now have major exposure to Canje where Exxon is planning major drilling whilst on Orinduik the deadline for announcing drilling target selection is getting close. Meanwhile our neighbours are continuing to make one discovery after another closer to our acreage and further inshore.

We now have acreage in the Orange Basin which has exploded onto centre stage with massive discoveries directly on trend with one of our blocks and we are next to drill in the basin with Gazania-1, the biggest ever well for ECO at 204 MMBOE net recoverable only a few km up dip from a proven oil discovery. ECO reached nearly £200M market cap ahead of Joe and Jethro which combined were less than 1/3 the size of our exposure to Gazania and at a time when the oil price was significantly lower than it is now. ECO's SP would have to increase several fold just to be on the same multiple ahead of Gazania drilling.

In aggregate we now hold acreage adjacent or near adjacent to a huge number of on trend discoveries that are either proven or rumored to hold roughly 25-30 BILLION barrels of oil equivalent. Quite how we're still at the SP is beyond me.

Closed at 38.6p on TSX and oil also moving higher.

Closed at 38.6p on TSX and oil also moving higher.

Flurry of selling just before the close is likely just daytraders closing ahead of 16:30. No bother. Quite the move today.

Yep.

The Guyana O&G boom continues its relentless expansion.
https://oilnow.gy/featured/guyana-considers-second-gas-pipeline-to-monetise-growing-reserves/

Tripletail-2 drilling also getting underway on Stabroek.
https://oilnow.gy/featured/appraisal-drilling-underway-at-tripletail-2/

Funny seeing COBR posters getting excited at 680 ppm (0.068%). ANR just reported 40,910 ppm (4.1%) from new drilling and a previous result of 74,000 ppm (7.4%). Just look at how these grade compare with the rest of the sector. Monte Muambe is brilliant and ANR is insanely cheap.

https://i.ibb.co/KGSmRYh/TREO-Grades-by-Deposit.jpg

Funny seeing COBR posters getting excited at 680 ppm (0.068%). ANR just reported 40,910 ppm (4.1%) from new drilling and a previous result of 74,000 ppm (7.4%). Just look at how these grade compare with the rest of the sector. Monte Muambe is brilliant and ANR is insanely cheap.

https://i.ibb.co/KGSmRYh/TREO-Grades-by-Deposit.jpg

BOIL's Chuditch asset is stranded big time. The asset is isolated and a long way offshore and will require LNG facilities. East Timor does not want the Australians to develop it through Darwin facilities after previous bad blood between the countries and the cost of yet to be built facilities in East Timor will be immense for such a poor country. Moreover, piping it to East Timor would involve spanning a gigantic mega deep sea canyon at great cost and technical difficulty. Even if non of this is an issue BOIL has no money for appraisal or development and will likely have to farm down most of the asset and raise significant funds.