Member Info for Phoebus

Indeed. They'll be able to truck the water directly to Monaco for Big Dave's Martini.

Mad is the right word.

Srike that. $3.91 unrisked now. Fabulous GENL with 2.4 billion barrels of 2P reserves and 2C discovered resources plus 32,000 barrels a day production from multiple fields is only priced at $0.39 per barrel on an EV basis.

and likely around double that risked. Some people will pay any price and learn the hard way.

Depends on when they do the placing, how big it is and how much punters want to overpay for the drill.

1p would be a market cap of £130M and well over $10 per barrel for the Basur-Resan drill target on a P50 basis which is ridiculous. If you think that's BS look at GENL as a benchmark comparison.

GENL is operating in exactly the same area as UKOG's Turkish drill and UKOG's own presentation even points out some of GENL's fields on one of the maps. Unlike UKOG GENL is a much more developed oil company with 7 discoveries in the region of which 4 are already producing a total of nearly 32,000 barrels per day net to GENL. Moreover GENL already has total 2P/2C reserves and resources of 2,420 MMB which is around x150 the size of the lower category prospective resources UKOG is targeting with Basur-Resan drill.

If we take GENL's current market cap of $657M subtract current assets and add total liabilities we get an EV (enterprise value) of around $875M, which means GENL's current share price values its 2P/2C reserves and contingent resources at only $0.36 per barrel and that's for a highly developed oil company with big production. That's a far cry from $10 per barrel being touted on here or even the $2.34 (likely around $5 risked) UKOG is already pricing in at the current SP for Basur-Resan.

UKOG's P50 figure of 19.6 MMB is for the whole Resan licence including Prospect A. If we adjust the Basur-Resan P-mean figure pro rata with the whole licence we get a figure of 16.03 MMB P50 net to UKOG for the Basur-Resan drill target. At $0.36 per barrel that is only £4.2M net to UKOG.

Do I think the market cap should only add £4.2M in the run up to the drill? Of course not, but nor does common sense suggest it should reach anywhere near some of the pie in the sky figures being paraded here. Sadly some newbies will never learn.

Over 6 months since the last placing. Only £2.2M was raised then before costs and was earmarked as follows.

'The Proceeds of the Placing will, therefore, be used primarily to support and fund UKOG's share of INITIAL Turkish Licence operations costs, to include the purchase of long-lead drilling equipment, construction of a drilling pad and necessary preparations for seismic acquisition.'

How about all the other costs such as actually drilling the well?

https://investegate.co.uk/uk-oil---38--gas-plc--ukog-/rns/-2.2m-placing-funding-initial-turkey-operations/202010021143569714A/

With market cap touching £25M this morning that is already $1.80 per BOE unrisked net to UKOG for the Turkey drill. As far as I can tell the COS has not been announced, but if we assume 40% that gives $4.45 risked net per BOE at the current SP which is already spicy.

When the entire crypto complex storms higher again I'm certain the probability investors will not flood into the mining stocks is approximately ZERO. After the dizzying effect of January's Bitcoin Blitzkrieg the near two months of moping around the crypto trenches has left a lot of investors shell shocked and searching for unnecessary explanations for what is nothing more than natural consolidation. As soon as the BTC fueling trucks have arrived Peter's Panzers will be back on the rampage.

Nope. NASDAQ is the icing on the cake. The key here is the BTC price. January and February updates were followed by protracted rises in the price of BTC. When consolidation completes and BTC breaks out ARB and the other miners will rocket and not before.

The constant whinging on here lately is pathetic. Steaming piles of background seller ****** with a side salad of can't believe it's not higher on those results. Posters on here need to get a grip. Like all of the other miners except for MARA, ARB is still well off it's recent highs. Has the mystery seller been two timing ARB and moonlighting in multiple stocks? Of course not. Look at the BTC price. It's where it was almost 2 months ago. The sector is waiting for the current BTC consolidation to complete and for BTC to follow ETH and the altcoins and break out to the upside. Once that happens ARB and all the other miners will start to move higher and given the length and depth of the consolidation the subsequent moves in BTC, altcoins and mining stocks will likely be very strong. Stop trying to read too much into the situation and chill out.

The NFT story has barely begun and folks are panic selling at a near 60% discount to where we were only two weeks ago. They must be desperate. This look like a great opportunity to get it for those that were not aware of NFTs before the sector started to move a month ago. I expect this will move upwards incredibly rapidly when the next leg starts and people will be unable to get in once again. Only one month till COIN's Gibraltar NFT launch. Exciting.

following six weeks of major consolidation. Expect BTC and the rest of the complex are about to follow. This should be particularly good for KR1 as ETH breaking higher gives the green light for our DeFi and Web 3.0 holdings to start their next leg. :D

following six weeks of major consolidation. Expect BTC and the rest of the complex are about to follow. :D

What a load of old whinging about news from weeks ago. Some chumps have obviously never heard of the concept of top slicing. The vast majority of people on here probably top slice their investments all the time despite remaining super bullish on them. All part of sensible portfolio management. To expect PW and the BOD to be any different is just crass especially as they don't control the price of Bitcoin.

Great to see LDO continuing to re-rate today. Our holding is up 34% in 24 hours to £12.9M.

Lots of buying today. Aquis MMs need to man up and stop hiding behind the water cooler.

Same with KR1. Portfolio absolutely roofing it and SP is flat. I have a feeling BTC will breakout over this weekend.

Get a grip comment aimed at the market.

Seriously this price action is ******ed. Porfolio is on fire and SP is dropping!!!? Get a grip FFS.

The whole altcoin complex as well as KR1 portfolio are significantly higher than when KR1 was sat at 240p on the LSE and over 260p on OTC. On a relative basis we should be pushing 300p.