Member Info for Phoebus

I still reckon Mon/Tue for permit RNS and funds RNS soon after.

Actually, looking more carefully I should say that the new operations cover the southern edge of the Jethro-1 drill area and extend southward.

This combined with the alleged Bloomberg report on Friday that ECO has 'appointed Tudor, Pickering, Holt & Co. ... to prepare for any potential approach by suitors before results emerge from a closely watched drilling campaign' gives the impression that we are about to get some very good news indeed.

Jethro-1 coordinates:
https://marad.gov.gy/wp-content/uploads/2019/05/No.-36_2019_Tullow_Guyana_B.-V_Operations.pdf

New Jethro operations coordinates:
https://marad.gov.gy/wp-content/uploads/2019/07/No.-55_2019_Tullow_Guyana_B.-V_Drilling.pdf

OK, here's a map of these new coordinates plotted against the boundary of the Orinduik licence and the Jethro-1 drill area. It appears the new operations cover most of the Jethro-1 drill area and extend southward. Is this not the direction of Jethro Lobe?

https://i.postimg.cc/5yCX1ZXD/ECO-MARAD-55-Map.png

so perhaps an opportunity there also. If it's good news on Wressle, EDR, EOG and UJO should all do well. GLA

Whoever is selling today because APEC funds have not yet arrived is ignoring the fact that the issuance of the site survey permit appears to be imminent. Watch the payment issue suddenly resolve itself once news hits. Either one of those bits of news will see this gap up savagely as it's done many times before. Good luck bying back cheaper if you sell now.

Well said. Money moves from the impatient to the patient once again. Good chance of permit granted RNS next Mon or Tue IMO so an excellent top up opportunity. Not long to wait now.

That's a better header. :D

just gone through at 16:10:58. An excellent sign.

5/6 business days since the last DCCAE update as per CNOOC process takes us to Monday or Tuesday next week for the site survey permit to be issued and I expect payment will complete soon thereafter. No need to sweat it. After many years of waiting it looks like Barryroe operations are finally about to start.

It is surprising especially with the updates from DCCAE this week. I guess most folks will not realise about progress on permit issuance until an RNS is shoved under their noses is the next few days. At least it's given the rest of us chance to increase our exposure in advance of the herd. Nice to see a buy on close at the rally high of 12.5p.

Perhaps. I still reckon Monday or Tuesday for permit news and payment news at the same time or very soon after. Good chance this will continue to rise in expectation as the week progresses.

PVR breaking out to the upside.

Still can't get a quote for 50K even at 2.5p.

MMs will take at least 500K shares off me in one go, but won't even give me a buy quote for 50K shares! A very good sign this is about to move much higher. GLALTH

oilheadgame, I know it's all about the drill results, but I couldn't agree more. Got to snuff out any positivity at all times. What should have been one of the most exicing drill build ups I can remember has been nothing but a relentless frustration. Should all be irrelevant in a couple of weeks. ;)

I seem to recall Gil saying they would take it slowly with the first drill so I think the pay zones are still a way off yet. The fact that the SP now needs to rise 20% to get back to the placing price doesn't tally with what's on offer here or the characteristics of the placing. Awesome prospectivity, high COS and 8 rolls of the dice means this is as far as you can get for from a one trick wildcat for a small cap explorer.

I see MATD has also crashed 20% since spudding the first of three high COS appraisal wells last week. I remember also the drop in SP ahead of the Sea Lion and Shaikan discovery wells. The price action here looks like a mix of paniced small fry and an attempt to knock us plebs out before the main course. I'm staying at the table and will buy seconds if the SP start to rise rapidly.

I'm also amazed we still haven't heard anything from Exxon and Hess regarding Hammerhead-2 and 3. Seems totally implausible they have nothing to tell the market. They must have flow rates and net pay figures at the very least. Are they withholding information until after the Jethro result?

Very bronze.

No. The board is golden and TOR is bronze.

They will be when this soars through 10p. $5/BOE for what they've already discovered is about 20p/share. 5-7 well drilling campaign could unlock serious upside beyond that. If they try and buy back they will find it all but impossible to build a decent holding. Best to be right and sit tight with this one. Expecting huge profits.