Member Info for Phoebus

Indeed. It's certainly a lot better than the corresponding Namibian one. The South African Petroleum Agency's website has some other useful info too.

https://www.petroleumagencysa.com/

I think we could very well see the same turnaround in the Falklands. Economics have been transformed overnight and there now seems huge political will to find new sources oil and gas in friendly jurisdictions wherever they can.

Here's the map.
https://www.petroleumagencysa.com/images/pdfs/Hubmap0222.pdf

I'm thinking South Africa. I will not be surprised if Exxon take 40% of block 3B/4B off Riocure and 40% of the adjacent block to the West splitting Total's 80% in half.

Which is why the price is so ridiculously cheap ... far too cheap. If Russia makes the Irish see sense then this will go supernova and you'd have to say there's a very good chance it will. It's almost as if everything being put on hold due to green concerns was a ruse ready to do a complete volte-face and put maximum pressure on the Russians as soon as they made any move against the West. If so then this could very well be the moment for Barryroe and we are staring at the gift horse's tonsils. A lot of investors will be thinking the same thing so the market should start to price in the possibility that this is indeed the case, in which case PVR and LOGP should both get squeezed higher. Given the gutter valuations and tinder dry setup, it could be quite a move. GLA

https://www.zerohedge.com/markets/exxon-reportedly-weighing-5-billion-sale-assets-north-dakotas-bakken

The price action is negative primarily because people are looking at the price action to make their decisions when they should really be looking at the fundamentals. Market cap is £4.6M with a health chunk of cash giving an EV of roughly £2.5M. Marula prospect is 210 MMB 2U recoverable with 19% COS. Two massive discoveries offshore Namibia have shone a bright light on the country's oil sector and GBP has by far the lowest market cap among all the players. Currently GBP seems very mispriced and should be a multiple of the current market cap. It will take very little for this to really light up. GLA

https://oilnow.gy/featured/exxon-epa-could-have-agreement-in-place-by-month-end-for-us2b-environmental-assurance/

Once this is in place I expect we'll get the full green light from the EPA for the 24 well campaign across Kaieteur and Canje. Ties in perfectly with the expected drilling announcement.

'This is the only UKCS North Sea drill on Aim this year.'

DELT are drilling Pensacola in May with Shell. High COS and top class partner.

You invest when the time is right, not years in advance. A CEO should know better than most when that is and BOR's CEO just put in £450K. Now the UK is looking to radically change its energy policy and the PM wants to significantly increase homegrown production. Perfect timing by the look of it.

Anticipation of NAVITAS farm in on Sealion should propel this higher. Could well be in the next three weeks. ARG is right next door.

https://www.stabroeknews.com/2022/03/09/news/guyana/eia-not-needed-for-exploration-of-kaieteur-block-epa/

Seriously loony price action here. Down 40% in a few days to almost the all time low as Brent goes ballistic and PM calls for more North Sea oil production. Very odd indeed.

I imagine Joe and Jethro are still classified as 2U not 2P reserves although they may have been upgraded to 2C contingent resources following discovery.

I imagine Joe and Jethro are still classified as 2U not 2P reserves although they may have been upgraded to 2C contingent resources following discovery.

Agreed. I got stopped out of two or three UK oil investments yesterday and Friday after they suffered similar savage pullbacks. Annoyingly they went right back up 20%, 30%, 40% leaving me on the sidelines like a right chump and missing some large gains. Years of research and being ahead of the curve can so easily be ruined by the flick of the whipsaw and trying to get too fancy. No reason we won't get a similar bounce here, although when it comes to ECO it's diamond hands. We've waited a log time for this. Really can't wait to see how this plays out. GLA

????

????

Exactly. ECO already has two discoveries. Joe and Jethro are around 50 MMB net to ECO on a 2U basis. Gil pointed out in his presentation the other day that they were still very much in play with a break even of $48 a barrel and would definitely work at $100 a barrel.

The surging oil price is a huge catalyst for the SP of all oil sector stocks whether they are producers, developers or explorers or not. Investor perception and appetite for oil stocks improves dramatically and really helps price action considerably. Same in all commodity sectors.