Member Info for Phoebus

Exactly, especially not £7M quids worth. Bid already 15% below OO price. What are they going to do if there is a huge shortfall, another massive discount placing. Proposal reeks of desperation.

That's a large PP especially for such a small company and given that it's to fund risky exploration drilling. I will be very surprised if they get anywhere near the target amount especially as the bid is already under the offer price. Could get very sticky.

132.9p.

Bonkers.

Surely this placement would be to buy Rathlin. I had a feeling yesterday RBD were about to make a bid for them.

As far as ECO is concerned I completely agree, but the wider market looks like it might be starting a major sell off ahead of Brexit. Oil has been absolutely smashed this last week and a lot of oil stocks are really struggling. US macro data has been appalling and the FTSE 100 is down hard since yesterday. The Carapa result looks to be November given they haven't spudded yet and the CPR is still a few weeks away, so the Brexit risk event may hit the markets before our next update. So long as all hell doesn't break lose it should make no difference to ECO medium term, but I remain slightly cautious. GLALTH

Isn't Carapa-1 expected to spud this week?

No it's not. The original RNS states that BPC has the 'right to opt-out of the Conditional Convertible Loan at minimal cost to the Company prior to contract'. Perhaps they feel it's better to get placing done in one go rather than use a rolling maul.

Not a denial though.

There is a link but the algo on this site blocks out links to that site so it's pointless trying to post it. Google Share Prophets, click on the homepage and it's one of the top stories. His placing calls have usually been correct in my experience.

Might even struggle to manage 1.2p now it's leaked. UKOG had to slash their placement price when TW did the same before one of their placings.

His placing calls have tended to be accurate in the past in my experience. If it is it true, does that position us for one or two wells on a 100% basis.

Google Share Prophets.

UKOG market cap is already £72M.

Seeking Alpha is the brand that sticks in the reader's mind, not the names of their contibutors. I'm sure most people can tell you which newspaper they read, yet are unable to name the journalists that write for those papers. Their introduction states that their 'stock research [is] written by finance experts', but if as you suggest it is effectively just a shop window for anyone's contribution then the credibility of its articles is even lower than I thought.

Only scuffs here are on anyone that bought today's spike. ;) Still a long wait here.

Massive extension of longstop date and still no date for drilling. How long has it been now? 2017, 2018, 2019, 2020...

Sorry folks, post was meant for PVR board.

!!!

According to that interview the Tambak-2 step-out appraisal well of the Mako field will be drilled first followed by the Tambak-1 appraisal/exploration well. So the higher COS well is first. Excellent.