Member Info for Phoebus

That's what the deal is worth the AAU in payments. More of that 2.3p should now factor into the SP. Seems that very little had been factored in up to this point.

So deal not done to deal done is not worth anything? SP was over 2p before deal was announced so at the time should have put SP to around 4.5p. Gold has soared since then as have gold producers so SP should be well north of 4.5p.

https://investegate.co.uk/ariana-resources-plc--aau-/rns/non-binding-mou-for-salinbas-joint-venture/201911251227025610U/

AAU '...will have received payments totalling US$30 million ... '. That's 2.31p per share!

deal that was worth 2.5p per share?

Sounds like Scotland will start easing lockdown any day now so I expect ERIS will announce restart of activities very soon. Should get the SP moving nicely.

Should see a huge rebound.

Wow. Massive overraction. What were people expecting? Net current assets per share is around 0.06p for goodness sake so only £1M for all its licence interests including SE Asia project with around 60 MMBOE Pmean net recoverable to BOIL with 100% GCOS! Ridiculously low market cap.

On past performance they will only place when they really need to and given the meaty cash pile and minimal cash burn that won't be for quite some time. Currently extremely cheap for what's on offer.

BOIL is extremely careful with its cash having low running costs so there should be minimal cash drain until COVID passes and activity ramps up.

I see that UPL is also on fire today and they happen to be our licence partners on the P2478 Moray Firth licence where a large International E&P Company is working with us towards a potential farm in agreement. News soon?

CP, it varies. On Tuesday it was hard to buy until the SP broke above 6p.

45 minutes left to get in before annoucement.

Just released: https://www.investegate.co.uk/Article.aspx?id=202006261542552720R&tab=article

AGM update on Monday just confirmed.

Nearly. 0.1340 paid.

Strange price action. 3 buys this morning and nada. One microscopic sell and SP ticks down. LOL. Was almost impossible to buy the other day.

If I remember correctly BOIL has a partner lined up for Peru but due to a gas pricing dispute involving all gas producers in the region BOIL and its farm in partner were waiting on that being resolved before completing the farmout and drilling the well.

Or sell most of it and have free carry through to first production on 5% say. Would add massively to the current SP.

Market cap approx 50% backed by cash with very low corporate overheads as company run effectively as a virtual operation last time I checked.

Chuditch 2578 BCF (mean GIIP) x 55% (recovery factor) / 6 (convert BCF to BOE) x 25% (BOIL interest) = 59.08 MMBOE Pmean net recoverable to BOIL for Chuditch. Current market cap net of net current assets is around £3M so at current SP BOIL is sat at only 5p per BOE for Chuditch alone. This would be cheap for a wildcat drill, but given this is a huge discovered field with a GCOS of 100% that valuation is insanely cheap! Moreover this ignores all other assets including the Wombat prospect which is 13.3 MMBOE Pmean net recoverable to BOIL with a COS of 59.5% and the UK offshore Durobin prospect with 29.1 Pmean net recoverable to BOIL plus Colter, XXI and others.