Member Info for Phoebus

GALP's PEL 83 also looks very handy with the massive Cullinan prospect in Shell's Graff block straddling the boundary. No doubt there are several other targets on block too.

https://hawilti.com/wp-content/uploads/2022/02/PEL-90-Nambia-Havoc-Partners.png

Almost 40p in Canada. Only 3 ticks from 26 month high.

I'm sure I read previously that Venus West was anticipated to be the same size as Venus and possibly connected to it, so we could be looking at a 6-7 billion barrel discovery in the basin. That has to generate some really serious interest in our acreage.

I'm sure I read previously that Venus West was anticipated to be the same size as Venus and possibly connected to it, so we could be looking at a 6-7 billion barrel discovery in the basin. That has to generate some really serious interest in our acreage.

Very interesting. Sounds like Total are doing lots more drilling in the Orange Basin and will be underway before we spud Gazania-1. Can't quite believe we're still at these levels given the huge success in the basin so far and the massive size of our drill targets relative to market cap. Things really are hotting up in the Orange Basin. Should get very exciting here.

This time next year Del Rey.
https://memegenerator.net/img/instances/65686967/this-time-next-year-rodney-well-be-millionaires.jpg

No, not $60.5M in one month, $60.5M in one lifting. March production was 282,000 barrels. At $116/B that equates to $32.7M in one month.

It seems that drilling in Paraguay is one Delray after another.

It seems that drilling in Paraguay is one Delray after another.

South Sea No. 9.

That's it. I knew I'd read something similar the other day. Makes flow test cash a complete non issue IMO.

Still 38.4p in Canada.

Good response Sparrow. I also like contrary opinions when they are sensibly argued. Improving understanding is surely the main purpose of using this board. You may be right that we'll see an accelerated realization of value for shareholders here, though to be honest I've always felt that was on the cards given our partner is CNOOC and China is hungry for oil. CNOOC pulling out of the West and focusing more on offshore China only increases the odds of rapid monetization IMO. Just need the drill bit to do the biz, although we took a big step forward today.

25% of RKH market cap seems too high IMO.

See p11 of PDF, marked as p10 on the document.
https://www.mcmining.co.za/component/jdownloads/send/102-2022/1694-financial-report-hy-31-december-2021

Or one to say that we're going to start drilling. :p

Perhaps we're about to get an RNS to say that we've started drilling. :p

If a flow test is required then SP should be through the roof.

Good effort. Did you mention the net current asset position? I looked at the last interims the other day and adjusted for placing and admin costs since then and seem to remember getting a figure of around minus £17M, which is not good at all. I would check that before investing.

SP strength may have triggered CLN holder to sell remaining tranche, but I would imagine investors are less inclined to derisk following that news and perhaps even increase their holdings. I suspect the MMs were caught off balance by that update, which would help explain the SP action this morning. Bit of CLN selling and MMs balancing their books before moving higher.