Member Info for Phoebus

this is a spike ahead of a UJO placing? In any case I expect UJO and RBD will motor on CPR and run up to next round of WN drilling.

Wh0sthedaddy, you beat me to it. No P50 volume (be lucky to get P mean STOIIP in any case) and no COS at this late stage. How on earth are we supposed to assess the level of risk and reward and invest accordingly? Guess investors are just supposed to go dance. Might as well have not bothered issuing the RNS. Lack of detail shows complete contempt for private investors IMO.

Had to bail at 29p on the first well result as losses were already too great. Waited for an upturn to get back in as the negativity and downward price action here were relentless and couldn't risk further losses. Sadly not around last week to get back in, so a bitter sweet day here. If you're still sat on a nasty loss here, you're not alone. Well done if you got out even or better here, you're braver than I. GLA

'We may update the CPR once we have completed our analysis of our current discoveries.'

What's that supposed to mean? Why is he trying to walk it back?

What are the MMs playing at?

Commenting on the balance sheet is not position management.

'This is exceptional for the Tamsag Basin where only a few of the hundreds of wells drilled have had the capability to produce oil to surface on natural flow.'

So as good as it is, MATD is effectively drilling in a tight oil area. They kept that quiet. Takes the shine off a bit.

He may ultimately be proven correct. Gambling on a rally in a company drowning in massive debts is a risky game. It could come good, but try asking shareholders in GKP and XEL how they feel. Key is to manage your position. ATB

And given the rapid 500% increase, you'd think they'd started shorting again, hence the renewed sell off.

Chillax Shakey. I actually think SDX is quite a decent steady eddie oil stock and the Morrocco economics are good. Just suprised by the tiny size of the resource for a 12 well drill programme.

2P of 4.5 BCF? That's only 750,000 BOE. My local Texaco has more than that.

Well said. I have a feeling the 5p to 33p move was just a big short squeeze.

Today's RNS states, '12 well drilling campaign, targeting a mean 15bcf of gross unrisked prospective resources ... SDX: 75% working interest'. 15 BCF gross equates to 1.88 MMBOE Pmean net to SDX, which is probably around 1.5MMBOE on a P50 basis. Surely they can't be serious? That's a tiny amount for one well let alone 12. Am I missing something?

Shucks. Parser removed my /sarc/ tags. TLW/Total/ECO had a total news blackout on Jethro and Joe. Not a peep until operations completed. Don't see why /sarc/a professional outfit like/sarc/ I3E would be any different. ;)

TLW/Total/ECO had a total news blackout on Jethro and Joe. Not a peep until operations completed. Don't see why a professional outfit like I3E would be any different.

Agreed. Given this is North Sea I can't see the results getting leaked ahead of an RNS so still all speculation at this stage IMO. Will the II use the opportunity to offload more shares ahead of the binary event. Let's hope it doesn't collapse back down again like the other day. GLALTH

what the point of the RNS was?

approaches, yet manages to rise 25% on scant early stage exploration data from 125m below surface. How logical.

'A non-binding indicative term sheet' proves absolutely nothing. It's all hypothetical cheap talk. When we finally know the flow rates if any from below the R3 interval in 103 then we can make an assessment. Until then it's all meaningless. The mere fact they deem something as wishy-washy as this as being RNS worthy is in itself a major red flag.

There's NOTHING to offtake.