Member Info for Phoebus

Certainly is a great news. Think you've been here even longer than me Starvin so congratulations on holding so long. Give it another 12 months and I reckon we'll be richly rewarded.

If Lombard crossed the reporting threshold on Friday as RNS suggests then they were selling below this SP. Given they are now just below the threshold they can dump quite a few more shares before hitting the next reporting threshold. Will be interesting to see if they carry on selling or not.

Starvin, aren't you based in Canada? I'm impressed you're up for the LSE session. Nice one.

Good sign.

Agreed. First Cretaceous discovery on our block and we should be over 500p.

Sounds like they will be ready to go with more drilling pretty much as soon as Carapa is drilled then. The results should be extremely useful for derisking our own Cretaceous prospect, so it's effectively a proxy well for ECO in much the same way Hammerhead was a proxy well for our Triassic prospects. Not long to wait for next upgrades then. Excellent.

Joe is a major step out from previous discoveries and the vast majority of ECO's undrilled prospects now lie between the Joe, Jethro and Hammerhead discoveries. This alone should increase the chances of successful drilling for all the targets in between. With results of the upper additional pay also pending it looks like we might have now proven a third play on the licence, which should add to overall recoverable figures in the pending CPR. And with Brent soaring, what a great day to get news. Congratulations all.

Bit of a shake there on extremely low volume. Might be the last 45 minutes on LSE to buy and sell before Joe results.

MU, limit orders were required to buy even 50K shares a little earlier.

CERP. Not really keen on CO2 injection myself. I see they are spudding the conventional Saffron prospect end Q3 with 7.7 MMB P50 at 45% COS, but the market cap is £37M so likely not that much uplift in the success case. Perhaps one for a smaller dabble.

The results so far both here and on Stabroek have been fantastic, yet ECO has only just scratched the surface of Orinduik's prospectivity and the company is fully funded for 6 drills after this one. All the really big targets are still ahead of us. Once Carapa is drilled TLW and Total will be able to calibrate their understanding of the Cretaceous play using actual well data. The Cretaceous has been the main play in Exxon's winning streak on Stabroek, so I expect to see a significant increase in COS for our main targets when that work is done. The new CPR should be quite eye opening.

Think he means the first Cretaceous discovery and the takeover bidding war starts. I feel certain there will be a fight and expect various national oil campanies will want a piece of the Guyana pie. We know there is great industry interest in the area and India is already showing it wants in. Patience should be rewarded greatly here.

21.92p. My chart concurs.

Wouldn't surprise me.

Trouble is they could screw this a lot lower before it turns. Hard to call and technically the chart looks dire. Never expected this. :( GLA

4BBOE gross, 600 BBOE net to ECO on block according to ECO CPR. If we find 370 MMB net to ECO at the $8/B Exxon and Hess are quoting that's 1000p. When we get out first Orinduik centered Cretaceous strike this should blow past 500p.

The official's comments on timing are surely based on a rough estimate, a turn of phrase. In any case I'm sure TLW won't force the pace just to fit some official's schedule. It will happen when it happens. Given it looks like Monday at the earliest which is the full estimated time for the drill is surely a good sign for a positive result. Expect we'll see further SP progress today as that sinks in.

Thanks for giving us the feedback from the AGM. I'm sure many of us would like to have been there had it been possible.

Oil price has carked it. No other reason.

From what I can see almost all the PVR placing proceeds were for redundancy costs, re-engineering the company and general running costs whilst only $500,000 (£400K) is for the site survey. PVR (EXOLA) are resposible for survey costs until APEC has paid up or pulled out. Even if APEC pulled out LOGP would only need to pay 20% which would be a very small sum indeed. Can probably find it down the back of the sofa. Regardless LOGP has funds until summer 2020 and TOR has bought the consortium time to get the APEC issue sorted or organise an alternative plan of action.