Member Info for Phoebus

80MMB of Hammerhead extending onto our block? I don't think so. According to p38 of the CPR released the other day Hammerhead contains only 15.0 MMB on Orinduik on a P50 basis or 2.2 MMB net to ECO. Even at $8/B the 2.2 MMB nowhere near underpins the current market cap even when you net off the net cash position.

https://www.ecooilandgas.com/wp-content/uploads/2020/02/AIM2020CP-ECO-Orinduik-report-Feb2020.pdf

Get a life Mav.

And you'll note that TLW presentation show a 'possible' drill for Guyana right at the end of 2020 as I stated previously.

Hearsay or made up? What, comments by Total and information from WTE RNS, TLW RNS and TLW presentation? Perhaps you'd like to tell them they made it up. Pathetic.

I fail to see what's dumb about my analysis.

Pro, is IJWT's comment worth reading? I've honestly had enough of reading his nonsense day in day out.

You and me both Likely. Had I been at my desk yesterday I'd be £10Ks up by now. Makes you feel so dumb, but there's only so much an individual investor can cover. Can't be everywhere all the time. Time for some dark chocolate and a lie down. Guess another RNS will hit while I'm snoozing. LOL.

Wasn't at my desk much yesterday so sadly missed the annoucement. Would have taken £10K immediately on news so a wee bit deflated. Guess I'm not the only one LOL. Really have to pay attention on AIM. Good luck if you got in. This time next year Rodders.

The operator Tullow has told us drilling on Orinduik is unlikely in 2020, but you dismissed it. Now Total have indicated they have two wells in Guyana in 2020. Given they have two wells on Canje block in 2020 they have also effectively confirmed that there are no wells planned for Orinduik in 2020 as things stand, yet still you dismiss it. Who should I listen to, Tullow and Total or IJWT? It's pathetic.

Westmount Energy (WTE) has in indirect stake in Canje via its holding in JHI. Their RNS from 2019-10-31 states, 'It is anticipated that the first wells in the Canje Block will be drilled in early 2020, with Total recently indicating that the Bulletwood and Jabillo prospects, located in the north-west portion of the block, as the most likely initial drilling targets.'

https://investegate.co.uk/westmount-energy-ld--wte-/rns/final-results---notice-of-agm/201910310700057109R/

Wells are targetting Jabillo and Bulletwood prospects.

https://oilnow.gy/featured/canje-block-explorers-targeting-two-wildcats-in-2020/

Don't forget that Total has stakes in other Guyanese blocks, Kanuku and Canje. Two widcats are schduled for Canje in 2020 so he is likely referring to those.

https://oilnow.gy/featured/canje-block-explorers-targeting-two-wildcats-in-2020/

Is it a monthly retainer?

With your constant fanciful BS I'd say the boots on the other foot.

Sorry, but no.

Or they just wait until 2021 and TLW funds it from the 2021 budget. One sounds plausible and normal and the other sounds like fanciful BS.

Ah bless!

Molokai ... my view on the funding situation has not changed. Hasn't stop me from taking a calculated risk and racking up large gains here in just a few days. Doesn't change the underlying risks though. With the SP almost 100% higher and indications that a placing is indeed underway the risks of taking a punt at these levels are clearly higher than they were a couple of weeks ago, but there may still be money to be made on the long side short term. Assess the risks and position accordingly.

Nonsense. If a farmout was about to happen the last thing you would try to do is raise funds in a placing, especially £10M.

Nobody's going to risk a 7 figure loss just because they're mates. Heavily derisking by flipping most of the position or getting off the hook completely before drill results is the sensible course of action. Today's news suggests they want out completely, just as I expected. Any retail investor would also do well to derisk ahead of drill results, but there will be a lot of competition for a good sell price if we're going to flip a £10M placing and the £2M MF at this late stage. Ironically if the story is true the SP may get ramped even higher to help get a placing away. Fun for a trade, but very risky indeed. Punt money or wait for the placing IMO.