Member Info for Phoebus

Reckon there's a chance of a follow on drill at Topaz in H2 if Jade is indeed a success.

Last update was on March 28 and even then they only had 22.5M left out of 50M. Since then we've had 14 sessions and some big volume so I'd expect most of them have already been sold. If I had any left I'd be keeping some on free carry, especially given today's drilling update.

Lots of buying and SP is building nicely. Probably the last of the placing clearing. When it does, I expect this to move rapidly higher. GLA

Filtered.

Sorry, wrong board. Too many tabs open.

Having not sold any shares, I'm actually debating averaging up. DYOR

'During the drilling of this section, EME was in regular communication with CNOOC to fully understand and cross check the significance of elevated methane (C1) against CNOOC discovery wells.'

CNOOC is one of the largest oil companies in the world. CNOOC has discovered many oilfields offshore China including in several near Jade. CNOOC is EME's partner on Jade. CNOOC is drilling the well. The COS increase seems to be on very good authority to me.

Having not sold any shares, I'm actually debating averaging up. DYOR

'During the drilling of this section, EME was in regular communication with CNOOC to fully understand and cross check the significance of elevated methane (C1) against CNOOC discovery wells.'

CNOOC is one of the largest oil companies in the world. CNOOC has discovered many oilfields offshore China including in several near Jade. CNOOC is EME's partner on Jade. CNOOC is drilling the well. The COS increase seems to be on very good authority to me.

Indeed. Only two ticks under the 26 month high on the TSX. I expect this to have a huge run ahead of Gazania drill. Loads of potential news on many other projects could really light a fire under this SP. We won't know where to look. GLA

Indeed. Only two ticks under the 26 month high on the TSX. I expect this to have a huge run ahead of Gazania drill. Loads of potential news on many other projects could really light a fire under this SP. We won't know where to look. GLA

https://www.londonstockexchange.com/trade/trading-access/business-days

It's great to see Shell and Total taking so much interest in the conjugate basin of PEL 94 offshore Brazil. The licensing round saw 59 exploration blocks acquired across 6 basins, so clearly there is huge interest from majors in this type of acreage despite alleged green concerns. Great backdrop for doing our farm out.

https://oilnow.gy/featured/shell-totalenergies-win-big-in-brazils-offshore-block-auction/

It's great to see Shell and Total taking so much interest in the conjugate basin of PEL 94 offshore Brazil. The licensing round saw 59 exploration blocks acquired across 6 basins, so clearly there is huge interest from majors in this type of acreage despite alleged green concerns. Great backdrop for doing our farm out.

https://oilnow.gy/featured/shell-totalenergies-win-big-in-brazils-offshore-block-auction/

Exactly Sparrow. CNOOC is looking to invest lots of that money in their Stabroek block in Guyana where they are happily working along side US firms Exxon and Hess, so they are obviously not bothered about working along side Americans. As you point out, CNOOC will also be deploying some of those funds offshore China, exactly where Jade is, so a buyout of EME could be on the cards if Jade is successful. The results of this well will be known within the next 3 weeks, so not long to wait.

eh?

Certainly some nice volume today. About £700K shares purchased so far.

Were the other stocks recommended ROFL, LOL and PMSL?

The degree of drop in drillers varies wildly and depends on a lot of factors. Valuation prior to drill, other assets and plans etc. Some stocks hardy drop, others drop a long way. This is barely 1.5 times the average SP of the last two years and we're pretty much still at the same price we were at for 18 months prior to the COVID crash, when drilling was still years away and oil and gas price were in the gutter. The Mako discovery should mean that the drop is significantly dampened. That said, I'm anticipating this will be a discovery, which is why I'm invested. DYOR

Here are a couple of maps showing the location and relative size of Mako and its position relative to infrastructure.

https://i.ibb.co/6Pq00sg/Mako-Map-1.png
https://i.ibb.co/PWDZcF8/Mako-Map-2.jpg

The field has 495 BCF 2C gross, 42.1 BCF SC net to EME. Makos South-1 flowed at 10.8 MMSCF/D and Tambak-1 at 11.4 MMSCF/D. It's the largest field in a region where there is strong demand for energy and is located close to nearby pipeline infastructure. I have every reason to believe this will be developed. Plenty of value there for EME.