Member Info for Phoebus

Looking like West Newton could be the biggest onshore discovery in the UK since Wytch Farm and RBD offers WAY BETTER leverage than UJO. Mega strong buy all day long. GLA

Having crunched the numbers for the prospects across WTE's 4 blocks in Guyana and Suriname, WTE's total exposure amounts to 97.3 MMB P50 net recoverable with an average COS of 31.3%. At $5 per barrel that equates to £379M or 301p unrisked and 94p risked. The current drilling plan for the next 12 months appears to be for 7 wells which I anticipate will be [Canje Block] Sapote, Jabillo, Bulletwood, [Kaieteur Block] Tanager, Toucan, [Orinduik Block] Amalia/Kumaka and Iatuk-D. This amounts to 40.8 MMB P50 net recoverable to WTE or 126.5p unrisked and 51.7p risked at $5 per barrel. Prior to the Covid crisis Hess and Exxon were touting $7 per barrel for Guyana oil in the ground and ECO topped that valuation on hitting pay dirt at Joe and Jethro. This would equate to 177.1p unrisked and 72.4p risked for WTE. The great thing is this target price is based on accretive value from multiple largely Exxon operated wells rather than a single high risk binary event. Given the immense success so far on this fairway I will be very surprised if WTE does not have 5 to 6 major discoveries and at least 30 MMB under its belt this time next year and a SP well north of 100p.

Don't forget Bulletwood-1 which is also about to spud shortly.

You should also check that 2 MMB. I think you'll find that is completely incorrect.

They are drilling up to 7 wells in next 12 months or so. Go rerun the numbers.

You need to value it based on what it is drilling not how much its licences cost.

NAV premium is irrelevant. That's like saying how much is an oil driller over cash per share.

ECO's Trassic discoveries were heavy. This is the deeper Cretaceous down dip of 16 Stabroek discoveries in Cretaceous. I'm staying 100% in for results. Certain this will be a huge success.

https://oilnow.gy/featured/canje-blocks-bulletwood-1-is-a-liza-look-alike-westmount-energy/

Barclays have now turned I3E on for trading.

WTD, a most excellent point. I'm getting a sense of RRE.

Same with Barclays. If you phone them up they can probably turn it on for trading within a few minutes.

Thanks. The complex nature of WTE's interests means quite a few invetors won't have realised the upside here. Hopefully getting the figures out in the open will help whet investor appetite and drive the SP. Regarding an RTO, if the assets coming on board are worth $$$ surely there's no reason why it can't be done at a premium.

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

The point is that's a huge chunk of market cap to add for a new green field site.

But market cap is already over £15M now.

Having crunched the numbers for the prospects across WTE's 4 blocks in Guyana and Suriname, WTE's total exposure amounts to 97.3 MMB P50 net recoverable with an average COS of 31.3%. At $5 per barrel that equates to £379M or 301p unrisked and 94p risked. The current drilling plan for the next 12 months appears to be for 7 wells which I anticipate will be [Canje Block] Sapote, Jabillo, Bulletwood, [Kaieteur Block] Tanager, Toucan, [Orinduik Block] Amalia/Kumaka and Iatuk-D. This amounts to 40.8 MMB P50 net recoverable to WTE or 126.5p unrisked and 51.7p risked at $5 per barrel. Prior to the Covid crisis Hess and Exxon were touting $7 per barrel for Guyana oil in the ground and ECO topped that valuation on hitting pay dirt at Joe and Jethro. This would equate to 177.1p unrisked and 72.4p risked for WTE. The great thing is this target price is based on accretive value from multiple largely Exxon operated wells rather than a single high risk binary event. Given the immense success so far on this fairway I will be very surprised if WTE does not have 5 to 6 major discoveries and at least 30 MMB under its belt this time next year and a SP well north of 100p.

Having crunched the numbers for the prospects across WTE's 4 blocks in Guyana and Suriname, WTE's total exposure amounts to 97.3 MMB P50 net recoverable with an average COS of 31.3%. At $5 per barrel that equates to £379M or 301p unrisked and 94p risked. The current drilling plan for the next 12 months appear to be for 7 wells, which I anticipate will be [Canje Block] Sapote, Jabillo, Bulletwood, [Kaieteur] Tanager, Toucan, [Orinduik] Amalia/Kumaka and Iatuk-D. This amounts to 40.8 MMB P50 net recoverable to WTE or 126.5p unrisked and 51.7p risked at $5 per barrel. Prior to the Covid crisis Hess and Exxon were touting $7 per barrel for Guyana oil in the ground and ECO topped that valuation on hitting pay dirt at Joe and Jethro. This would equite to 177.1p risked and 72.4p unrisked for WTE. The great thing is this target price is based on accretive value from multiple largely Exxon operated wells rather than a single high risk binary event. Given the immense success so far on this fairway I will be very surprised if WTE does not have 5 to 6 major discoveries and at least 30 MMB under its belt this time next year and a SP well north of 100p.

Well spotted.

In all the excitement this morning I only just realised that this wasn't the spud RNS. I guess the herd doesn't track MARAD's website so won't be aware WTE is about to drill until the spud RNS hits them square in the chops. Expect we'll hear in the next few days. GLA