Member Info for Phoebus

Have you netted off the debt?

He's spot on IMO.

Go read the Peter Brailey article.

If you think Gary's article is negative you should read Peter Brailey's article which has just been posted on Share Prophets. It's far more damning than Gary's and his conclusions are the same as mine.

I'm beginning to wonder whether the OWC is so high that none of the well locations on Liberator are actually connected to one another and all we have is a collection of small isolated pools of oil in thin sands.

Diagram on p7 of the October presentation should help.

https://i3.energy/wp-content/uploads/2019/10/20191029-i3-LIBERATOR-UPDATE-vF.pdf

was supposed to be drilled towards the center of the structure yet only 20ft/220ft of the Captain sand is above OWC at this location. '... sand thickness above the OWC is lower than anticipated.' Looks like Liberator volume is significantly lower than management estimates. Senior debt facility in doubt now?

That's a really large potential cash injection, roughly 100% of the market cap.

Another personal attack with not a single fact. I've heard enough. Filtered.

OK. Would suggest a range trade from just above placement price.

The action the last few days feels like an exercise in getting the placing shares cleared before the drill result RNS. Placees leaving it to the PIs to take the risk again?

Sorry Riptonk, I know the analaysis results were a bolt from the blue, but perhaps if you sized your positions more carefully and took a more balanced view of the company at all times instead of having a pop at other investors for trying to do so you wouldn't be sat at such a stonking loss.

But they are all onshore as are the poor grade Venezuelan fields. I'm not aware of any producing oil field with such poor API and sulphur content that is producing offshore (except maybe in lake Maracaibo which is very shallow), never mind in 1km deep water.

So you think 5% is good? Look at the 160 grades of crude listed here by McKinsey. The oil in Jethro and Joe has a lower API and higher sulphur content than ALL of them.

https://www.mckinseyenergyinsights.com/resources/refinery-reference-desk/crude-grades/

Give me strength.

Gil wriggles in his seat when stating he's very confident in the outlook for ECO and fixates on the oil being heavy while failing yet again to mention the horrendously high sulphur content. Says the oil is '... potentially easy to flow ...' while scratching his nose off on the word easy. Probably nothing to worry about. Still hoping we'll find some light sweet in the Cretaceous near Hammerhead, but the investment risk seem a little higher now with Gil's credibility undermined and sentiment heading into our 2020 programme resting a lot on the Carapa result.

WT, I quote figures direct from company documents to assess the fundamentals and you project your own nonsense. Says it all. Filtered.

Perhaps Gil and the BOD sold some Bitcoin to buy in here. Would explain the brutal sell off there the last 48 hours. ;)

regarding closing of farmout with PMO and granting of final drill permits? Didn't they say end Nov? No wonder this is beginning to surge. Drill is massive for 88E with multiple intervals several of which are effectively appraisal so should mean a higher COS. All funded by PMO. What's not to like? GLA

7.13 MMBOE [not BBOE] (225 x 0.19 / 6) net to ECHO for Lobe C at 34% COS and 7.19 MMBOE ((154 + 73) x 0.19 / 6) net to ECHO for the secondary targets of Lobes D and G combined @ 20% COS.