Member Info for Phoebus

I know they do, but I'm sick of hearing that offerred up as a reason. I don't buy it. Actual drills trumps sometime maybe flim flam any day.

BOIL down 11% on thin volume whilst Wick partner UPL up 9%. LOL

And we're blue. LOL

SP reached 0.45p on the day the Wick farm in was announced 8 months ago and it's currently 0.45p to sell. We've completed another farm in since then, secured a rig contract, done site surveys and updated CPRs. Colter is an appraisal well with a high COS directly adjacent to the massive UK onshore field Wytch Farm. Wick is a huge exploration drill target with a decent COS directly updip from the Lybster field. Both wells are fully funded and BOIL will have a decent slug of cash left even after operations are completed. Why the hell is the SP still sat at the same ridiculously low valuation it was sat at 8 long months ago. Market cap was far to low all those months ago and yet we've gone absolutely nowhere since. Meanwhile Brent is pushing towards $90. SP is a complete and utter joke.

My guess is it's probably SOLO dumping some more of their holding to fund Chikumbi-1

I'm not in here at present as I didn't expect much new upside from the flow testing, but the result was actually rather good, a significant improvement over previous flow results with the even stronger K4 interval up next. Makes no sense why SP would be dropping. Should be firming up IMO. GLA holders.

Wake up BB. 10.5 months of cost for the entire company. 5-7 well drilling campaign around 6-7 months away. 2 major shareholders happy to keep funding piddly corporate costs. In fact, Brandon Hill could just agree right now to a placing for a further 12 months running costs at say 10p per share. Why pay a premium like that? Well, can you image what it would do to the SP, not to mention the value of their holding? Why not do it right now? Perhaps the company will not be around long enough to justify it. Funding is not and will not be a problem here. The wingers need to find another angle to attack the company.

JH77, price per share.

Very sensible. With LOGP and Barryroe even a super conservative stance suggests huge upside. It really does look very good indeed.

50% discount for commercial risk seems too steep. If APEC are willing to spend this much money on appraisal I would assume the liklihood of project sanction should appraisal be successful is much closer to 100% than 50% and therefore risked NAV is much closer to 15p than 7.5p according to those calculations.

Of the 9 discoveries Exxon has made so far on Stabroek, Hammerhead will be only the third to have a second well drilled on it, the others being Payara and the huge Liza. Suggests Hammerhead is one of the more significant discoveries. Perhaps they want to get a handle on the readover to Orinduik ASAP.

Taking profits? Not me. That note makes it quite clear that ECO is effectively drilling an apprasial well this quarter with the appraisal on Hammerhead and that further significant CPR updates are also due. Taking ANY cash off the table at this juncture looks far too risky. A very good chance there will be some large gaps on open and some serious upside at some point this quarter. Hold tight to core positions and add on any pullbacks. STRONG BUY.

Net current asset position around GBP500K yet market cap £13M. Looks extremely overvalued now. Even if they do manage to get the licence reassigned, they have no cash to do anything and no retainer from farm in partners to keep the lights on.

Nobel and Edison both walked, even as Brent tops $85.

Tidd, I'm guessing your 55% figure includes LC, Brandon Hill, H&L and Sigma. I suspect H&L and Sigma are just collections of nominee holdings so we should discount that. On their website it also indicates that a further 31.56% are not in public hands. Can anyone elaborate? I would look at it as follows, LC 29% + Brandon Hill 15.79% + directors 2.56% + non-public shares 31.56% = 78.91% shares tied up, leaving only 21.09% free float including Sigma and H&L positions.

I tried to get a quote this morning to buy any shares at all. 2.10p? No luck. 2.15p? No luck. 2.20p? No luck. 2.25p? You guessed it. As folks struggle to build positions here I can see it getting squeezed substantially higher and on good merit. GLA

And the price moved up very rapidly this morning without any trades being reported. Excellent signs this is going to continue to push much higher.

Price risen on ASX overnight too.

Excellent news. The 88E SP has been static since the Winx-1 farm in news and I suspected it was due to a pending placing to fund the drill. With this out of the way both RMP and now 88E are fully funded for drilling. 88E can start what should be a major rally into drilling, pushing RMP significantly higher. Given that 88E has such a strong PI following, I expect a good number of them will start to allocate a portion of their funds to RMP as it offers far greater leverage to the drill. $5/B net recoverable x 25% COS works out at 28.5p per share for RMP. With 50% of SP backed by cash and massive upside, I make this a strong buy. GLA

This does smell of COVE 2.0 though Marvin.