Member Info for Phoebus

Trek, £200M pre drill was my guess also. Plenty of other AIM drillers have hit similar market caps or higher prior to drilling, often targetting much lower numbers of net barrels. Would still only be 26p/barrel.

Those look very good grades to me.

That's fine with me Loz. I see we've come out of auction 10 minutes late at 3.34p.

What on earth are you talking about?

Loz, do you want me to put your on filter? You're going about it the right way?

Your figures might seem ludicrous, but so is the massive potential on offer here. This is by far one of the juciest exploration drills I've seen in a long time. I'm sure many people agree and this should drive the SP significantly higher even before the drill starts turning especially. Many have been waiting 10+ years for this and will be desperate to get in rather than sit on the sidelines and watch it march higher. We must bear in mind that in most cases share prices of companies with major drills start rallying significantly higher several months ahead of drilling, so we are right on schedule to begin the rerate much higher.

Thought you were a bit out LOL. Go eat your Weetabix. ;)

Not directed at you Loz, just a general observation.

If I had to guess I reckon the shares will have already been forward sold into the market, most likely into the huge volume last week, so this should have zero effect on SP. Market is now entirely fixated on mega drill with rig contract signed and clear time window for drilling. 770 MMB P50 recoverable net to BPS with excellent COS and in today's RNS 'In total the B structure extends between 70 and 80 kms, has a mapped areal closure over 400 km2 and has an aggregate most likely recoverable resource potential in excess of 2.0 billion barrels.' Two billion! And it's only one of four similar structures with huge stacked targets. Still less than 10p per barrel just for the 770 MMB.

Market doesn't care. The volume has been swamped already anyway. Hoping it will drop is just wishful thinking fo those that have already sold or not yet bought in. Rig is signed. Clear line of sight to the big prize and huge money wants in. I'm being offered over the bid to sell chunky amounts so clearly MM demand for shares. GLA

Award is worth 1.21p per share. Previous close was 0.6p so target is now 1.81p, triple current SP!

2010-11-23 RNS states 987.38M shares x Feb 2011 high of 25.697p = £253.72M market cap. Seems the market cap has been much higher here than I remember, almost four times higher and that was when drilling was still a very long way off. Cheap as chips.

https://investegate.co.uk/bahamas-petroleum-co--bpc-/rns/exercise-of-options/201011231416176767W/

I've looked for that facility for years, but never found it although I think you can see a chart of historical market cap on a Bloomberg terminal if you have access. Check for the last known total voting rights in RNS statments directly before the peak and mulitply by the share price.

Or farm in news. Could still happen any time. Even news of talks would send this parabolic.

Gosh. That was nearly 10 years ago. Can't belive how long we've been waiting for this drill.

I remember that. Didn't we top out around 25p or so. Think there was a CPR due. For the SP to go really high it needs days like this.

Some numpty either used an at best order or it's a glitch. Never use at best.

Sometimes you get a quiet day in the middle of a major rerate. Market makers get to rebalance their books as a some take profits, panic sell or lose interest, then a day or two later the rise suddenly continues and sellers are scrambling to get back in.

The overall probability of striking oil is greater the more wells you drill, but yes you do not add the COS. Surely the chance of success on two wells is calculated as 1 - ((1 - COS.a) x (1 - COS.b)) where COS are written as a fractions. If you drill 2 wells of 30% COS the chance of success overall is 51%.

And still at a near 20% discount to the recent placing. Bargain.