Member Info for Phoebus

Lots time value of money.

Give me strength. Expect today's Bearcast will be insufferable. Still, good luck if you're in.

Seems a very generous interpretation.

That's not the point.

Was it too much to wait 5 minutes and settle the matter before putting out an initial statement?

.

Now at 12 month highs. Are we about to get that Duyung update we've all been waiting for? Would be epic timing. Remember what CORO Chairman said on March 25, '... the Company is approaching multiple critical inflexion points across both the Duyung PSC, where commercial progress is expected imminently ...'

https://investegate.co.uk/coro-energy-plc--coro-/rns/result-of-noteholder-meetings-and-board-changes/202203251300101003G/

Assuming Jade and Topaz are both successful and filled to P10 spill as per the comments made by EME, I get the following valuation.

(395 (Jade P10 MMB) + 891 (Topaz P10 MMB) x 0.30 (recovery factor) x 0.49 (EME share after CNOOC back in rights) x 5 ($/BOE) x 0.75 (USDGBP) / 664.82 (EME shares in millions) x 100 (convert SP to pence) = 107p per share.

EME COS figures are 41% for Jade and 35% for Topaz. If Jade is successful then the COS for Topaz would likely increase given the geological link. Given this COS, how much of that 107p should be factored into the current SP? Currently only 10%. Look too low IMO, especially when you consider this ignores the value of our Mako discovery, which already underpins much of the current market cap and provides an excellent buffer to mitigate against downside risk. GLA

Assuming Jade and Topaz are both successful and filled to P10 spill as per the comments made by EME, I get the following valuation.

(395 (Jade P10 MMB) + 891 (Topaz P10 MMB) x 0.30 (recovery factor) x 0.49 (EME share after CNOOC back in rights) x 5 ($/BOE) x 0.75 (USDGBP) / 664.82 (EME shares in millions) x 100 (convert SP to pence) = 107p per share.

EME COS figures are 41% for Jade and 35% for Topaz. If Jade is successful then the COS for Topaz would likely increase given the geological link. Given this COS, how much of that 107p should be factored into the current SP? Currently only 10%. Look too low IMO, especially when you consider this ignores the value of our Mako discovery, which already underpins much of the current market cap and provides an excellent buffer to mitigate against downside risk. GLA

is exactly what the doctor ordered. Jade is a big deal for EME, but Topaz is much bigger and the total upside for both wells is quite something. If Topaz drilling is now on the table, the much bigger additional upside really ought to be factored into the SP especially as its position directly up-dip of Jade means that discovery at Jade would massively derisk Topaz. No wonder the boss has so many shares if this was his plan. I've added a few this morning. GLA

is exactly what the doctor ordered. Jade is a big deal for EME, but Topaz is much bigger and the total upside for both wells is quite something. If Topaz drilling is now on the table, the much bigger additional upside really ought to be factored into the SP especially as its position directly up-dip of Jade means that discovery at Jade would massively derisk Topaz. No wonder the boss has so many shares if this was his plan. I've added a few this morning. GLA

Closed at 37.2p on TSX.

Anyone expecting a placing ahead of Pensacola drill? Looking at last interims I get £11.18M (current assets) minus £0.447M (current liabilities) minus £1.12M (10 months admin) = £9.61M. Assuming drilling cost of Pensacola is the same as the Cairn drilling carry cap of $25M gives a cost for Pensacola net to DELT of $25M x 0.75 (USDGBP) x 0.30 (DELT Pensacola interest) = £5.63M. This would leave DELT with £3.98M after Pensacola, but before any other costs since last June aside from admin, so at a guess somewhere between £2 and £3M. Although the drill looks good, it makes sense to raise funds in advance just in case it is not successful rather than risk raising afterwards at a lower SP. Thoughts?

Almost a dragonfly doji on the TSX chart. Great bullish signal.

I'll stick to DYOR.

Amazing that people get suckered in by things like that.

Does it come with pictures of Lambos and yachts? :D

The Ensco DS 10 is still on location at Graff-2 whilst the Maersk Voyager is still anchored in Walvis Bay having drilled Venus-1. The fact Voyager hasn't moved on makes me think they are going to drill again shortly. I hope they drill Venus West, which is rumored to be the same size as Venus and possibly connected.

The Ensco DS 10 is still on location at Graff-2 whilst the Maersk Voyager is still anchored in Walvis Bay having drilled Venus-1. The fact Voyager hasn't moved on makes me think they are going to drill again shortly. I hope they drill Venus West, which is rumored to be the same size as Venus and possibly connected.

You try selling anything more than a gnat's breakfast on quote and deal though. Good luck.