Member Info for Phoebus

in two market sessions! £400M! What a total joke!

18.1p on TSX. Didn't expect that a few weeks back.

Hmmm?

Interesting link Noirua. Thanks.

Gil going on a PR drive does not fill me with confidence.

I've tried contacting Ratio for confirmation but they have not responded.

Although someone dumped 150K shares under the ask an hour ago. Front month was crude smashed this afternoon, FTSE 100 looks very weak indeed, US virus cases going parabolic, opposition looks about to be declared winner in Guyana.

Lately market conditions have become quite atrocious for all but the most liquid of stocks and ECO has been no exception. Taking profits and managing positions has become extremely hard with MMs locking the exits on a whole range of stocks at the slightest stall in prices wiping out chunky profits with little if any chance to sell. What's the point of risking your capital in the market if you're not allowed to sell at a profit when you want to? ECO looks good long term, but I'm extremely reluctant to commit any capital to the equity markets right now particularly given the horrendous macro backdrop. I'm concerned we're about to get another major move lower in the markets so I've increased my overall cash weighting for now. Over-cautious or warranted? What do the rest of you think?

Well his comments regarding the heavy oil the other day seemed like scraping the barrel so I'm not expecting much sadly.

People need to get real. GBP's licences are so far away from the Venus-1 well site that you could fit the whole of the North Sea in between. Meanwhile the lowest risk targets have COS figures of only 15% and 12.3% which are very poor and the COS of the other targets are even more attrocious.

Now can't sell but can buy 150K in one go. What on earth are the MMs playing at?

That 803K trade might indeed have been the seller clearing. Several round number sells the last few days followed by a final larger round number sell to get rid of what's remaining of the position.

Think you might be correct. I can sell my entire holding in one go over the bid!

Harel, you're an absolute star. Your help is much appreciated.

Nice one. Now where did I put that Pimsleur Hebrew course.

Harel, many thanks for the info on Tanager-1. It's been hard to get any information particularly from the Ratio website. Is the call available online?

More to the point, what on earth is happening to ECO's SP? It might have hit 30p recently but MMs were unwilling to take more than a handful of shares until SP had drifted much lower. Now it appears large blocks of shares are being dumped on a daily basis as the SP heads even lower. Most surprising.

However WTE's targets are large (up to 750 MMB approx) and high COS (up to 72%) and except for Oriduik are all Exxon operated. Until covid struck WTE was scheduled to take part in 7 wells over the next 12 months so despite its small % stakes this actually adds up to a significant number of barrels for a company of only £15M market cap especially given the wells are at effectively zero direct cost to WTE. In the success case WTE would be looking at 1000% plus upside from its current market cap at $7/BOE.

Depite there being significantly more buys than sells bid has dropped from 15p to 11p and yet it's still impossible to sell anything more than £1K. Spread was nearly 30% yesterday. Maket wa_kers.

Great tip. WTE's first well is 72% COS and Exxon operated!

Second wave? Concerns over opposition coming to power in Guyana?