Member Info for Phoebus

Erm ... just like POG, POLY is a Russia based gold miner with large production that had its SPs decimated last month due to the same geopolitical backdrop. If POLY can continue to rise in this environment then it's a good sign for POG IMO.

Good spot.
https://www.nieconference.com/

Chart look very bullish. Good read across.

WTE's order book is market maker driven meaning a MM takes the other side of every transaction, so from the perspective of the wider market each transaction can indeed be classified as a buy or sell in the sense Dataman is referring to. On exchanges and in market segments that directly match buyers and sellers within the wider market without a market maker acting as middle man then it makes sense to see every trade as a buy and sell.

That's 3.33 times the current LSE price, an astonishing gulf. How far can they stretch the elastic before this rockets?

Takeover. Often cheapest to drill for barrels on the stock market, and we have A LOT of them at a knock down price.

When the ECO JHI deal closes they will likely release the JHI Canje CPR, so we should finally get a look at the Canje prospect map and see all the 2U and COS figures. I expect they will also commission an updated CPR that includes analysis based on the huge number of subsequent drills in the vicinity. Will be great if there is a nice juicy target in the bottom right corner of the block right in the golden lane. Given there are already more than 36 prospects on block and only 7 prospect regions, I'd say there is a very good chance.

I thought it was you buying. More than one chunk I guess. :D

If you mean net current assets plus equity stakes divided by shares, I don't track that as I'm treating this as an oil stock and looking at risked barrels instead. Taking the the 60p and 80p I mentioned and adjusting for the COS of each constituent drill I get 16p or 27p risked.

SP did triple in short order, so you would expect a bit of consolidation. All good. Makes for a stronger move. There is a lot of company specific news flow to look forward to here, plus a whole barrage of key Stabroek drill results pending.

I agree. It will take very little volume to cause the SP to surge here, especially from these bombed out levels. Pity some of the money being chucked at 88E and the like doesn't head this way. 88E rallied £40M in market cap off the lows just a few hours after the latest duster RNS the other day. Funny how the market is obsessed with certain stocks when there is much better value elsewhere.

This is based on the figures post AZINAM and JHI deals. It should be noted that WTE requires no funding for these drills.

As things currently stand, it seems like WTE is exposed to up to 6 wells by the end of next year including 1 on 2B, 1 on 3B/4B, 1 on Orinduik and up to 3 on Canje. Based on the CPR data and estimating 400 MMB for Canje targets, I get a total net 2U exposure to WTE of up to 22.4 MMBOE, which at $5/BOE gives 60p per share in the success case. There is also the possibility of a Kaietur drill in Q4 2023, which depending on the target may add another 7.5 MMB net net to WTE, giving a total of 30 MMB net or 80p per share. This ignores all of the extensive follow on prospectivity. SP is only 4.5p. Do the math.

As things currently stand, it seems like WTE is exposed to up to 6 wells by the end of next year including 1 on 2B, 1 on 3B/4B, 1 on Orinduik and up to 3 on Canje. Based on the CPR data and estimating 400 MMB for Canje targets, I get a total net 2U exposure to WTE of up to 22.4 MMBOE, which at $5/BOE gives 60p per share in the success case. There is also the possibility of a Kaietur drill in Q4 2023, which depending on the target may add another 7.5 MMB net net to WTE, giving a total of 30 MMB net or 80p per share. This ignores all of the extensive follow on prospectivity. SP is only 4.5p. Do the math.

That is a tiny number of shares. Not even the spread on my holding.

According to ECO's March 28 RNS the Azinam deal is closed. Also the JHI deal isn't closed, but it hasn't stopped WTE mentioning it. It seems to me that you may be right. Perhaps WTE is looking to offload ahead of Gazania drill and they money for another deal. Or perhaps they want to keep the SP low while they do an RTO. Whatever the case, this is the lowest WTE has been since it entered Guyana several years ago, which is remarkable as I believe there had only been one or two discoveries in the basin at that time and now there must be around 30. Combine that with the Exxon EPA applications for up to 24 wells on WTE's Guyana licences and their current exposure to the Orange Basin, the market cap looks silly. This could do 10x by the end of next year without any change to the asset base IMO.

The Orange Basin is a huge emerging oil story and WTE has skin in the game via ECO, but not a peep about it from WTE. What are they playing at? It's a huge plus point for the company. Need to get your act together BOD.

I haven't read it. Perhaps they use a higher $/BOE given that partner is CNOOC, field is in China and China is hungry for oil. Guessing we could see rapid development.

I haven't read it. Perhaps they use a higher $/BOE given that partner is CNOOC, field is in China and China is hungry for oil. Guessing we could see rapid development.

Lost time value of money.