Member Info for Phoebus

I think the main difference is visibility. We are still well under the radar. It won't last.

I think the main difference is visibility. We are still well under the radar. It won't last.

We're sat at a pittance for our North Sea 2P and 2C. JOG, the other LSE listed junior in the same position is taking off. Oil companies are going to be circling and some have $$$$$ from sudden Russian asset sales. GLA

JBTs, that's a local file URL on your hard disk.

The global paradigm shift only happened last week PoC. It's ramifications will be massive and long lasting. On your marks.

Surely the loan will just be rolled ... if needed.

'Not crystal clear behavior.' I agree. I could never even find 2U and COS figures for their individual targets. I think it says more about the FEC and CGX than the prospectivity of the licences. I expect FEC to move to 100% then farm out to Total, Exxon or Chevron and drilling to start across all three of CGX's blocks.

Company’s Senior Vice President Neil Chapman said 10 wells would be drilled this year and 10 more in 2023. 'That’s kind of the pace that we are at.' The current resource estimate of 10 billion barrels of oil equivalent (boe) could double if future explorations are successful.

https://demerarawaves.com/2022/03/03/exxonmobil-to-drill-20-exploration-wells-within-two-years-plans-steady-stream-of-crude/

Canje here we come. Drilling scheduled Q4 start. Gil said he expects 2-3 wells on the block for ECO to start with.

It wasn't Kawa that died IMO.

I get net current assets to be around £2.2M, which gives us a current EV of £2.8M. Beyond silly.

I disagree. Sure, Kawa-1 itself is not good. $141M is taking the P, there is a lack of info (again) and it has been plugged and abandoned. However, I do not see this a reflection on Kawa or Corentyne, which I think will be fine. CGX is a different matter and I agree with you. All too opaque for me and I don't like the FEC-CGX relationship which is why I was too reluctant to buy back when it was $0.30c. I expect FEC to gain 100% control of the licence and then farm down to a Major and it will be game on again.

I disagree. Sure, Kawa-1 itself is not good. $141M is taking the P, there is a lack of info (again) and it has been plugged and abandoned. However, I do not see this a reflection on Kawa or Corentyne, which I think will be fine. CGX is a different matter and I agree with you. All too opaque for me and I don't like the FEC-CGX relationship which is why I was too reluctant to buy back when it was $0.30c. I expect FEC to gain 100% control of the licence and then farm down to a Major and it will be game on again.

Sorry, but why does everyone have such short time horizons?

SOU SP says nothing about the value of ANGS. SOU tried their luck, but are not good enough and we don't need them anyway IMO.

And from yesterday's presentation it's clear that Gil's a bit of a joker. He certainly made the audience laugh and me too. Winning new friends and investors.

Kawa will be just fine. It's the FEC-CGX relationship I don't like. Glad we're working with Keith Hill and AOI. He's one smooth dude.

Don't be so defeatist. Is the Russia situation contained? No. Will things go back to how they were? No. The game has changed.

https://www.zerohedge.com/energy/can-europe-survive-next-winter-without-russian-gas

Saltfleetby gas will be in demand.

They told us already they needed funds so this was no surprise. What we should be focusing on is the price of oil and the paradigm shift in geopolitics following the invasion of Ukraine. The West will now be on a mission to source hydrocarbons from new frontiers far and wide. This puts a much warmer glow on the Falklands assets. Combined with oil over $110, we are in a much better position than a few weeks ago. This should really start to hot up and I guess Dobson knows it. GLA

'Through facilities engineering studies and reservoir modelling we demonstrated that the break-even oil price for an initial 270 million barrel FPSO phased Darwin development would be $40 per barrel. If the 25% contingency included within the estimated $1.36 billion capex is reduced, through more detailed engineering work, the break-even oil price would be appreciably lower.'

https://www.bordersandsouthern.com/news/rns_viewer.php?id=13566651