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Just profit taking, as everything looks super rosy plus there is a lot of competition for money flow at the moment with a huge amount flooding into commodities. Nickel is up 250% in two days and has been suspended. Other commodities are also going parabolic. UK oil and gas stocks are also going crackers. BOR and ARG went postal a few minutes ago. Looks like a massive melt higher in oil stocks may be about to unfold. We just need to wait our turn in the pecking order.

This is like dry tinder with a microscopic market cap. Could easily multi bag from these levels.

30.8p now.

https://www.youtube.com/watch?v=Iwn4LVVvAUQ

Some huge up moves in resource related stocks today, from producers to explorers.

https://oilnow.gy/featured/exxon-to-submit-environment-plans-for-major-24-well-campaign-across-two-blocks/

https://www.zerohedge.com/markets/energy-stocks-have-huge-upside-they-catch-oil

Only two weeks now. Looks like WTE may have exposure to up to 8 drills over the next 12 to 18 months, 1 on 2B, 1 on Kaieteur, 2-3 on Canje, 1 on Orinduik, 1 on 3B/4B and possibly 1 on Kanuku to start with. SP is almost at the lowest since WTE entered Guyana and oil is at $125 a barrel. Amazing bargain.

Bargain indeed. My calcs have enterprise value at just over £2.5M now. Cheap as chips.

The RKH Navitas farmout deadline is end of March, so I would expect RKH to move up in anticipation and FI stocks to move in sympathy as they have often done in the past. The stratospheric oil and gas prices and search for new supply should help.

Berbice might make a good acquisition for some other small AIM oiler that was looking for a new main project to build their company around. It would be cheap to drill being onshore and with the cachet of Guyana should attract investors. Seems a bit wasted at the moment. CEG, formerly Bahamas Petroleum, has the Weg Naar Zee field just over the border in Suriname, but it seems lost in their huge spread of projects and I don't think they are planning exploration there.

Berbice might make a good acquisition for some other small AIM oiler that was looking for a new main project to build their company around. It would be cheap to drill being onshore and with the cachet of Guyana should attract investors. Seems a bit wasted at the moment. CEG, formerly Bahamas Petroleum, has the Weg Naar Zee field just over the border in Suriname, but it seems lost in their huge spread of projects and I don't think they are planning exploration there.

I agree. I guess CGX should also drop Berbice. Chevron recently acquired 100% of Block 5 in Suriname, and that is quite close to Berbice, although Berbice is largely onshore.

I wondered that too. TLW will have gone a whole renewal period without drilling a single well. Amazing considering Exxon are doing 12 per year next door and planning 12 wells on Canje and Kaieteur each. Even CGX is drilling two in one year LOL.

Sorry if I misunderstood you comment Cyril. I like to share ideas, but only if they are relevant.

You might be aware of ORCA, but I think most people aren't. Just sayin.

EOG seems to be benefiting as North Sea stocks rocket. Only ORCA seems to have the handbrake on, which is a bit surprising.

With such a good sector backdrop they should do it at a higher price. Given the eyepoppingly gargantuan holdings by the BOD I doubt they'll want to let peeps in cheap.

With such a good sector backdrop they should do it at a higher price. Given the eyepoppingly gargantuan holdings by the BOD I doubt they'll want to let peeps in cheap.

I get the feeling that the Government of Guyana is losing patience with CGX. Seems like they are now trying to get out their drilling commitments. I can't see how they can afford to drill Wei-1, 2 wells on Demerara and one on Berbice in the next few months. Could CGX get fined and lose 2 licences for not fulfilling these drill commitments? With net zero approaching, the government seems to want to push ahead ASAP with exploration and CGX is going slow on a lot of acreage.

https://oilnow.gy/featured/government-wants-cgx-to-carry-out-work-commitments-on-berbice-demerara-blocks/
https://oilnow.gy/featured/cgx-plugs-abandons-kawa-1-well-says-that-was-its-intention-all-along/