Member Info for Phoebus

Sorry, but I don't like PANR at all. Poor flow rates, which they consistently say are not important at this stage, but they are always important. Work at each well is often not completed because of the weather bogeyman, leading to limited well data. Despite this we get fantastical reports of more and more barrels based on this data, but almost all of this is internal assessment. How about their Southern US assets that were supposed to be the bee's knees? Market cap reached £400M plus on them if I remember rightly and then collapsed. After they moved the goal posts to Alaska the Southern US stuff was quietly binned off. PANR may have something great, they may not. I don't have enough info to feel confident to make an investment and certainly not at £1043M market cap.

The 2C figure for the MOU-4 Tertiary Fan is currently 49.1 MMBOE net to PRD. The discovery is very close to the Mahgreb-Europe Pipeline and the company has mentioned rapid and low cost development on several occasions. Gas price are through the roof and the project is located in a safe jurisdiction right on Europe's door step, where there is a HUGE gas shortage of gas. What market cap then for 49.1 MMBOE of recoverable gas? Even a modest value per BOE and the upside here looks huge. Next up is flow testing of MOU-1 this quarter and firming up of MOU-4 and MOU-5 drill dates for H2.

Less than half left. We've had 7 market days since the last conversion notice and good volume, so I would guess a lot of the outstanding have been worked already. Expect the next RNS will say they are all out and then the brakes will be right off.

I think this is about to rocket. Breakout, pullback, then rocket. Classic.

Given the drill results at Graff-1, Venus-1X and La Rona-1, I expect there is plenty of interest in farming into Gazania if Gil wants to take that approach.

JH, please try reading the comments. As I pointed out yesterday, we get a big chunk of cash from the JHI deal plus ECO's net current assets. A quick tot up gives a figure of around $45M cash. Very chunky. I'm still expecting we may see farm downs ahead of drilling, which will free up more cash and reduce outgoings. My preferred option for Gazania is a partial farmout, for example where the farminee pays 2/3 of the cost for 1/2 of our interest.

JH, please try reading the comments. As I pointed out yesterday, we get a big chunk of cash from the JHI deal plus ECO's net current assets. A quick tot up gives a figure of around $45M cash. Very chunky. I'm still expecting we may see farm downs ahead of drilling, which will free up more cash and reduce outgoings. My preferred option for Gazania is a partial farmout, for example where the farminee pays 2/3 of the cost for 1/2 of our interest.

At least all the buys are now showing in blue. Yesterday's buys were almost all marked red and there were loads of them.

Closed at 32.25p on TSX.

Even CDL is moving into Namibian oil exploration. Their block will be onshore north of the Etosha National Park and further north than GBP's licence. This is another indication that Namibian oil assets are coming on to more and more radars following the huge success at Graff and Venus.

https://www.londonstockexchange.com/news-article/CDL/participation-in-oil-gas-exploration-in-namibia/15402415

All looks good from the schedule on the Island Drilling website. Scroll to the bottom of the page.

'Dana Petroleum has awarded Island Drilling Company AS a contract to drill one well with the rig Island Innovator from April 2022. The duration is estimated to 90 days, with an option for 40 days. After completion of this contract, Island Innovator will commence work for Petrofac, to conduct one workover. The contract for Petrofac also has two options included. In Q4 2022, Island Innovator will move on to South Africa drilling the Gazania Well for ECO Atlantic Oil & Gas, before heading on to offshore Mauritania and Maersk Decom for plugging and abandonment of four firm wells, and one optional well at the Banda and Tiof fields. This will make the Island Innovator fully occupied during 2022.'

Diagram shows Dana slot from April to start of August which is the 90 days plus the 40 days option. ECO drilling starts beginning of Q4.

https://www.islanddrilling.no/

Today's total volume for ECO today was 16.2M shares according to ADVFN and 15.8M according to the London Stock Exchange which is slightly delayed. That's the second highest volume of all time for ECO and 25% of the placing volume in just one day. Impressive.

About £3.5M turnover on LSE today.

Rising like it's filled with helium. We should have known.

Rising like it's filled with helium. We should have known.

Looks like my marriage.

Crikey. Is that Vanguard-3?

It's already left the launchpad.

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It's already left the launchpad.

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https://www.youtube.com/watch?v=pAgnJDJN4VA