Member Info for Phoebus

Good news, but that's only 5% of current market cap so 13% rise today looks a bit OTT. GLALTH

I see also Pompeo had a word.

https://oilnow.gy/featured/us-pledges-support-to-guyana-as-country-preps-for-first-oil/

https://news.exxonmobil.com/press-release/media-advisory-exxonmobil-annual-meeting-shareholders-wednesday-may-29-2019

The 37m refers to gross pay, the overall thickness of reservoir rock encountered in the well. The actual net oil pay will be a lower figure than that, potentially a lot less, and CASP has conveniently not included it in the RNS. Funny how CASP never puts out P50 figures for its drilling prospects either. It's good news, but how good? We're still largely in the dark.

No it doesn't. There isn't 37m of oil.

And still plenty of buying on TSX at over 85p. This stinks.

Yawn...

Price action this month has been bizarre. Not what you'd expect with Hammerhead-2 and 3 underway and our first well only weeks away. News could hit any day now and is almost certain to be very positive. I'm sure the stingy LSE MMs won't hesitate to mark it back above 90p on open.

A few on here need to see the bigger picture. The main driver here is not the profitability of RBW's operations and not all SP drivers have to be an RNS. The threatened Chinese export ban on REE is all that is needed to send this supernova. Tiny loss making and indebted copper producer Weatherly International rocketed over 1000% when the copper price turned around in 2017. If REE are weaponised by China their price will rally far more than copper did and so will RBW, thin veins or not. Manufacturers will be desperate for whatever REE they can get and at whatever price.

This reminds of what happened with Weatherly International (WTI), a small loss making and debt ridden copper producer which I bought back in 2017. The SP roared from 0.3p to 3.7p in months due to a sudden and sharp reversal in the copper price which had been declining for some time. This setup looks like a dead ringer. The WTI SP was shaken about wildly at the start of that rally too which make it difficult to realise the SP was about to soar.

My approach would be to assume you might lose 35-50% but might make several hundred percent and position size accordingly. If REE exports are banned the subsequent shortage and price surge should be one for the history books and as a geared play RBW should soar just like WTI did despite its faults. Given there are so few ways to play the REE price globally and on the LSE in particular should help drive significant money into this stock which currently only has a market cap of £7M. GLA

And a geared moonshot here. GLA

And also the price of REE will do more than double. Expect a moonshot.

Read this then:

https://www.zerohedge.com/news/2019-05-21/rare-earth-stocks-all-soar-limit-after-xis-threat

https://www.youtube.com/watch?v=BNtrCmFE3OA

Zippy: Look at it rocket Geoffrey!

ECO is very different to SOU. SOU was extremely popular with PIs and saw its market cap soar to around £500M as the herd piled in. On the contrary the herd seems unaware this company even exists never mind what's happening in Guyana. As far as they're concered ECO is a kind of warrior.

Of course, all exploration has its risks and it's important to balance risk and reward. However, I think the mistake here would be to err too much on the side of caution and miss out on spectacular upside. Our CPR details 15 or so prospects containing 4 BBOE P50 recoverable several of which have more than a 40% COS, the highest I can remember for an exploration well. Moreover, the immense success by Exxon right next door suggests the liklihood of success is much higher.

If you think ECO is high risk take another look at this map of Orinduik prospects and Exxon discoveries. We only need one of those green blobs to turn dark blue and all downside risk should be eliminated. I'd say the chances of that happening are very high indeed. Remember we are fully funded for 7 bites of the cherry. GLA

https://i.postimg.cc/mhx5XbJn/Prospects-Discoveries.jpg

and the SP soars. So far we've had a £680K injection and a name change. This stock is beyond the pale.

You should take a look at ECO. Maiden drilling campaign starts imminently in Guyana. Two wells with 44% COS directly adjacent and updip of 13 huge discoveries by Exxon, one of which straddles the licence boundary and is currently undergoing two appraisal drills. Hottest exploration acreage on the planet with lowest break even globally offshore. ECO only minnow in the zone. Industry swarming like flies to get in. 4 BBOE P50 recoverable on block. ECO fully funded for 6-7 wells.15% ECO, 60% TLW and 25% Total.

Can't see any Hammerhead news yet.

at 1.05p on quote and deal. A very good sign. Accumulate while it's quiet and wait for the action.

That said if you lose money in stock X, you shouldn't try and make it back in stock X regardless, you make it back where you think it's easiest to do so. I'm very bullish on UKOG at the moment so I have a good portion of my capital in here ready for drilling.

If you've had enough or don't believe, there are always other options. My choice would be ECO which is about to drill two exploration wells offshore Guyana with 44% COS directly adjacent and up dip of thirteen mega discoveries by Exxon. Industry is clamouring to get a slice of the action, yet the discussion board is near silent. Expect some massive SP action and takeover offers as the prize is revealed. UJO also looks good with their 78% COS well already underway as does I3E once their junior debt facility is confirmed.

Good luck whatever you decide, but I'm happy with UKOG and a few others.