Member Info for Phoebus

Crikey. That was sudden.

Harel just posted this on the ECO board. Graff upgraded to 2 BBOE. That's over 5 BBOE in Graff and Venus alone.
https://www.upstreamonline.com/exclusive/happy-days-shell-s-graff-discovery-in-namibia-holds-2-billion-boe-of-oil-and-gas-sources/2-1-1197669

Great spot and great news. 2 BBOE at Graff plus over 3 BBOE at Venus. Mega hot spot and ECO is drilling next. :D

Graff-2 results can't be too far off either.

And a chunk of that £5M is cash. Pancontinental is up 6 fold to £25M market cap since the Venus and Graff news broke yet their main target is smaller and lower COS than GBP's Marula prospect. GBP is seriously cheap at these levels. GLA

Sorry, please ignore. Wrong tab on the web browser.

Pancontinental is up 6 fold to £25M market cap since the Venus and Graff news broke yet their main target is smaller and lower COS than GBP's Marula prospect. GBP is seriously cheap at these levels. GLA

https://oilnow.gy/featured/environmental-impact-of-exxons-proposed-24-well-campaign-negligible-to-low-says-epa/

ECO will have a 17.5% stake in this Exxon project when JHI deal closes.
https://oilnow.gy/featured/environmental-impact-of-exxons-proposed-24-well-campaign-negligible-to-low-says-epa/

Today's Bearcast should be non-stop weapons grade expletives. :D

Could we reach 20p ahead of drilling?

Given ECO is next to drill in the Orange Basin following the play opening Graff and monster Venus discoveries, I expect considerable interest in Gazania and very strong demand for the shares as drilling approaches. There is also a significant amount of news due on many other fronts which should drive the SP. The next few months should be very exciting.

I think you're correct. I count about a dozen £20K buys so far today.

For some perspective take a look at the following chart of TREO grades by deposit. Today's highest grade of 0.19% barely registers.

https://i.ibb.co/s1JMKnG/TREO-Grades-by-Deposit.jpg

I really like COBR for the gold and think it will do just fine on that basis without the need to over hype modest RE grades, which I see as more of a bonus.

Sorry, but these grades are poor. Even the highest of 1,931 ppm is only 0.19% TREO and most of the other grades are way lower than that. COBR is great for gold, but for rare earths there are much better grades elsewhere. Altona (ANR.PL) for example reported intercepts of up to 42,400 ppm just last month and their market cap is only £2.9M!

Nothing sneaky about it. As an exploration company it's not wise to go into a drill without making sure you have a decent pile of cash for after drilling and at £44M market cap, £2-3M after drilling doesn't really cut it. If they don't bother to raise beforehand they run the risk of having to dilute at an unhealthy discount in the event of a duster. A top up of the coffers prior to drilling is a prudent measure and one I would expect of a quality outfit like DELT. Doesn't need to be big, just a few £M to give them some running room.

Those are juicy figures Harel. Is there a link? Regarding Kanuku, I was hoping the Kawa-1 shenanigans gave TLW the collywobbles on Beebei.

Here's a prospect map for PEL 90.
https://hawilti.com/wp-content/uploads/2022/02/PEL-90-Nambia-Havoc-Partners.png

I've been expecting ECO might make a move on PEL 90 since last September when Charlestown got involved with it. The Graff and Venus discoveries have made it highly likely, but with such significant discoveries Gil would need to move fast to secure the acreage, which is perhaps the reason for the accelerated fund raise.

Also, I would add that you mentioned that Gil had tabled an offer to TLW to farm into the Kanuku block for the Beebei-Potaro-1 well. Given it's due to spud next month, some of the cash could be for that. I like the setting of that prospect and would be pleased if we had some exposure.

Whatever the outcome, these are some very exciting times for ECO shareholders. Can't wait.

Much better day here. Second highest volume since Sapote result with SP firming up nicely from very oversold levels. Looks like people are starting to take positions ahead of Q3 drilling.