Member Info for Phoebus

Never seen that before. Suggests to me he thinks this is way too cheap and wants in before it goes nova.

I disagree. The price of oil is very relevant to the price of an oil company's shares, whether it's a producer or not.

I think Shafiq mentioned it in the podcast last week.

Pretty stupid SP movement especially in this environment given their assets. Finally starts to stretch its legs and immediately gets hit for 25%. MMs out of shares already?

Joyride, EOG isn't the operator.

Yep. You'd think oil was still minus $40.32 a barrel. It's over $114.

At one point today Pancontinental's market cap hit £13.8M, up 7 fold since the Graff and Venus news broke. Their best prospect is smaller and lower COS than GBP's Marula prospect yet we are currently at only £5.8M market cap or around £3.6M EV. This looks far too cheap now.

At one point today Pancontinental's market cap hit £13.8M, up 7 fold since the Graff and Venus news broke. Their best prospect is smaller and lower COS than GBP's Marula prospect yet we are currently at only £5.8M market cap or around £3.6M EV. This looks far too cheap now.

I would certainly not want ECO to farm in to Corentyne given the costs and Demerara looks too much of a step out at present, but we may see some action from other entities. Berbice is too far inshore IMO.

I agree 100%. Prudence is the right approach and Gil has done precisely that. Not surprising given how much skin in the game he and the board have here.

https://oilnow.gy/featured/cgx-says-final-cost-of-kawa-1-well-is-us141-million-analysis-of-results-still-ongoing/

Kawa-1 cost $141M. Yikes. That's one expensive drill. Did they drill through the core of the earth as far as 21,578ft from the other side? Although they are drilling Wei-1, the second well on the Corentyne block in 2022 H2, it seems they are trying to delay the two wells required on the Demerara block by 2023-02-12 and the one drill required on the Berbice block in 2022. The Guyana Government appears to be playing hardball. Could be farm in opportunities or licence relinquishments ahead.

I'm wondering if it will be more corporate action. Farm out of Gazania for free carry or reduced costs or perhaps that Kanuku deal you mentioned Harel.

£62K bed and ISA perhaps or a hungry buyer. Good show.

Apparently Seapulse was founded by Seacrest in 2018. Seacrest was a major AZINAM shareholder and now they're one of ECO's major shareholders. Check out the Seacrest asset map.

https://www.hartenergy.com/companies/seapulse-ltd
http://seacrest.com/#section-117

Cheers Paul.

Yanis, you keep asking that. Why not try and find the answer yourself? Contact I3E or EOG or ask on the I3E board as I did yesterday. It should be notes that Serenity is already a discovery, so the GCOS is in a sense already 100%. The question more correctly is how much of that 3C can be proven up through this appraisal drill.

From ADVFN chat board.
https://hppetroleum.com/news/seapulse-launches-3-billion-barrel-global-oil-and-gas-programme/

Oil is almost $120 this morning. Time to stop years of sitting back ogling the same old production wells and get on with it. Serenity gives us a major oil catalyst next quarter. EOG could be in a new league by summer. GLA

Majors have loads of cash but still farm out their projects. Standard practice.

Post placing EOG will have roughly the same enterprise value as EDR and the same share of Wressle, but will also have a fully funded North Sea drill in July. Bargain. All three should do very well. GLA