Member Info for Phoebus

You are incorrect Foggy. ECO closed at CAD$1.68 on TSX, which is approximately 96.2p.

Yes, volumes seem to be picking up on TSX and there are more larger trades too.

Looks like it Mani. Buys going through at $1.58 or 89.9p.

we may get surprise discounted placing as per last year? I know we were told 2019 dilling was fully funded, but they looked a bit short when I did the cals and now we're told about a two rig approach with 'minimal' extra cost. The SP action since 2p also seems strangely similar to the pre placement action last year. A strong rally followed by a sideways waft, never making it to the main rally high, but sucking in buyers. COS is much better this year, but I'm nervous shares are being distributed ahead of a fund 2020 placing. Any thoughts?

Yes, I've read the funding comments too Rodders, but my hunch is based more on their modus operandi, the way UKOG seems to tick. Let's see what happens.

It's just a hunch, but I've called it right here before and it would fit their previous MO. My guess would be the same sort of price as before, 0.8p-1.0p. Let's see what happens.

Feels more like this is being worked lower ahead of a placing pre HH drilling as has happened before.

from the dip.

TSX closed at 89p on a constant stream of buys. Third highest volume in well over 12 months so move was very well supported. MMs gapped price up on LSE open and then walked it back down on minimum sells just as I expected. Looks like a classic TSX-LSE one-two tree shake. Expect this will bounce hard now to 88/89p level ready for TSX open at 2:30pm. With new brokers, bullish broker notes and more PR I think ECO is starting to reach a wider audience so the MMs will need as many shares as they can get to satisfy demand. GLA

Looking at last accounts and RNS statements WTE appears to have the following holdings, ARG 1M shares x 3p = £0.03M, ECO 3.125M shares x 89p = £2.78M, Ratio 1.2M shares x 65.27p = £0.78M, JHI 2.21M shares x 69p = £1.52M. In total that's £5.12M, whereas the current market cap at 18p is £11.7M. So WTE appears to be trading at a massive 128% premium to its investment NAV? Can anyone shed any light on its net cash position. I doubt it makes up for the yawning gap. Whilst this offers an nice spread of Guyana exposure for LSE investors that can only get direct exposure through ECO, it looks to be a very expensive choice. Surely it's better just to buy ECO shares direct?

I'm very surprised at the drill result this morning. Hopefully UJO has better luck at their 110 MMBOE 60% COS West Newton drill, which is up shortly.

https://i.ibb.co/YNFyDzj/UJO-West-Newton-Valuations-Price-Targets-1.jpg
https://i.ibb.co/PZQQ2bJ/UJO-West-Newton-Valuations-Price-Targets-2.jpg

I'm very surprised at the drill result this morning. Hopefully UJO has better luck at their 110 MMBOE 60% COS West Newton drill, which is up shortly.

https://i.ibb.co/YNFyDzj/UJO-West-Newton-Valuations-Price-Targets-1.jpg
https://i.ibb.co/PZQQ2bJ/UJO-West-Newton-Valuations-Price-Targets-2.jpg

Ajax, ECHO should come good end 2019 with their Tapi Aike drill, but I suspect they will place before then. If you want a low entry check out my UJO post from this morning.

https://i.ibb.co/YNFyDzj/UJO-West-Newton-Valuations-Price-Targets-1.jpg
https://i.ibb.co/PZQQ2bJ/UJO-West-Newton-Valuations-Price-Targets-2.jpg

even with 3 on the ask. Looks like that note has had an effect.

Chin up Mamms. We know C&F have had to liquidate. That's all. Should hear about site survey permit in a month or so then it's chocks away. If you're feeling down have some chocolate or take a look at my UJO post from this morning as a diversion.

http://www.lse.co.uk/ShareChat.asp?ShareTicker=UJO&thread=2A064A8F-5E9E-446A-82D8-95A448B4F11F&status=reply

Excellent post Freedom5. 'We foresee significant similarities to Cove Energy.' How long have I being saying the same thing? ECO looks like turning into Cove 2.0. 1140p unrisked! GLA

At the current market cap UJO appears to be incredibly cheap given the value on offer at West Newton. Here is my take on it as promised.

https://i.ibb.co/YNFyDzj/UJO-West-Newton-Valuations-Price-Targets-1.jpg
https://i.ibb.co/PZQQ2bJ/UJO-West-Newton-Valuations-Price-Targets-2.jpg

I follow a lot more than 3 oil companies. Can't comment on them all every week.

Yawn...

Rumoured price is below here according to TW.