Member Info for Phoebus

Diabolical market making on this one. Never any liquidity either way.

But where is the re-frac update? In title but not in RNS. Get your **** together OEX.

It might do BG, but buyers may well hold fire a bit given the delay. Lots of other catalysts elsewhere over the next 7 months, although this will come good eventually. GLA

No bad news? Come off it. Delay yet again and Nyuni gone.

I can't quite believe how much this drill has been delayed. Remember this from the 2016-12-05 RNS? 'Additionally, the Company has now completed all necessary civil works for the subsequent Ntorya-3 wellsite.'
https://uk.advfn.com/stock-market/london/aminex-AEX/share-news/Aminex-PLC-Operational-Update/73058654

Ntorya-3 is the same well as Chikumbi-1, so spud will now be nearly six years since we were told civil works were completed for the well. I was really hoping things would get going next quarter as previously stated, but now we have to wait till November. Topped off with the loss of the excellent Nyuni licence, so no rerun of Cove's success offshore. That's a real shame.

I can't quite believe how much this drill has been delayed. Remember this from the 2016-12-05 RNS? 'Additionally, the Company has now completed all necessary civil works for the subsequent Ntorya-3 wellsite.'
https://uk.advfn.com/stock-market/london/aminex-AEX/share-news/Aminex-PLC-Operational-Update/73058654

Ntorya-3 is the same well as Chikumbi-1, so spud will now be nearly six years since we were told civil works were completed for the well. I was really hoping things would get going next quarter as previously stated, but now we have to wait till November. Topped off with the loss of the excellent Nyuni licence, so no rerun of Cove's success offshore. That's a real shame.

He sure will. With 88.89 million shares he's going to be banging that drum like a maniac from Sado-jima.
http://blog.sadlerswells.com/wp-content/uploads/2019/03/YAMATO-2019-2020-18-Masa-Ogawa-c-695x463.jpg

Subtle use of the capital C there. Nice.

You can buy now.

Someone stepped in front of you by the look of it with a 500K buy at 11p. :(
Great sign though.

How many of you are old enough to remember this? See p9.

https://www.caspiansunrise.com/wp-content/uploads/2018/02/Caspian-presentation-Feb-2018-290118.pdf

What happened to all those drills? 4 years later and what have we got. Very poor delivery.

What on earth has happened with those deeper drills? They promised so much but have delivered so little and all at a pace an elderly snail would be embarrassed by. Without the prospect of the deep upside I'm not sure the current market cap is justified on current production especially given the low oil sale price.

And a very chunky buys again as soon as ask drops to 11p. Same when it dropped to 10p.

And a very chunky buys again as soon as ask drops to 11p. Same when it dropped to 10p.

Oh yes ... the GSA. I'd forgotten that whilst fixated on Jade and Topaz. No wonder. Don't forget the cross section on seismic and the migration path way from proven kitchen and oil discovery. This drill looks very juicy.

https://i.ibb.co/HpJb8bD/EME-01.jpg
https://i.ibb.co/SfhKMss/EME-02.jpg

My beady eyes are on the bottom right of Canje for a target in the Golden Lane. CPR should reveal all shortly once the JHI deal completes. That said, my eyes are also on 3B/4B ... and on Amaila-Kumaka ... and on Gazania ... and on potential deals near Venus and Graff and more besides. Ouch, my eyes are hurting. Thanks Gil.

Thanks for the positive feedback. This is a very interesting sector to follow and PRD clearly has significant potential. The line up of drilling should really help drive interest our way this year and unlock the value.

Regarding drilling costs, while only the testing of MOU-1 is currently funded, if you look on p1 of the latest PRD broker note you will see that the total drilling cost of MOU-4 and MOU-5 combined is estimated to be $5-6M, which for a company with a market cap of £41.6M is barely 10% dilution or 5% per well, also known as PEANUTS. Considering we have MOU-1 flow rates first I'd say there's a good chance the dilution required will end up being even more minuscule. I was more than happy to load up more when I realized this.

https://wp-predatoroilandgas-2020.s3.eu-west-2.amazonaws.com/media/2022/03/Predator-Oil-Gas-Corporate-update-7-March-2022-1.pdf

Give it time. We've had a lot of volume the last few days and the SP has been strong despite the overhang. It's always possible they will keep some warrants for the drill result. They may sell enough to cover the cost of the exercise of those remaining giving them effectively a geared free carry on the drill result. Nice position to be in.

Give it time. We've had a lot of volume the last few days and the SP has been strong despite the overhang. It's always possible they will keep some warrants for the drill result. They may sell enough to cover the cost of the exercise of those remaining giving them effectively a geared free carry on the drill result. Nice position to be in.

SDX has gas production assets in Morocco and we can see from their most recent results RNS that they got $11.34 per MSCF (thousand standard cubic feet) in 2021.

https://investegate.co.uk/sdx-energy-plc--sdx-/rns/full-year-2021-financial-and-operating-results/202203180700072119F/

PRD's 2C figure is 294.75 BCF (49.125 MMBOE) net recoverable. Using SDX's figure of $11.34 per MSCF, the sale value of this much gas in Morocco is worth 294.75 (BCF) x 1,000,000 (convert to MSCF) x $11.34 (value per MSCF) / 1,000,000 (convert to $M) = $3,342M net to PRD. We should note that this figure is based on the average price for gas in 2021 and the prices have likely risen considerably since then and will likely stay elevated due to the new energy reality we are all facing.

$3,342M net to PRD is equivalent to $3,342 x 0.765 (USDGBP) / 304.45 (PRD shares in M) x 100 (convert to pence) = 840p per share.

Obviously we need to use an NPV deflator and take development costs into account, although PRD talks about rapid development and lower development costs due to location. Regardless, it seems quite clear that PRD offers monumental upside from here.