Member Info for Phoebus

Anyone know the COS for your Serenity drill that we farmed into today. I've found the 16.2 MMBOE 2C and 115.2 MMBOE 3C figures in the admissions document, but not a COS.

https://wp-i3energy-2021.s3.eu-west-2.amazonaws.com/media/2021/11/20201013-TOSCANA-ACQUISITION.pdf

I guess this well is to prove up as much of that 3C as possible. Is that correct? After many years without a drill over at EOG I can't quite believe it. The huge cash flows from Wressle are great, but at 28.8 MMBOE net to EOG, Serenity is a massive step change for us. Hope you don't think we got in too cheap and good luck to us all. Four months to go. Bring it on.

Anyone know the COS for your Serenity drill that we farmed into today. I've found the 16.2 MMBOE 2C and 115.2 MMBOE 3C figures in the admissions document, but not a COS.

https://wp-i3energy-2021.s3.eu-west-2.amazonaws.com/media/2021/11/20201013-TOSCANA-ACQUISITION.pdf

I guess this well is to prove up as much of that 3C as possible. Is that correct? After many years without a drill over at EOG I can't quite believe it. The huge cash flows from Wressle are great, but at 28.8 MMBOE net to EOG, Serenity is a massive step change for us. Hope you don't think we got in too cheap and good luck to us all. Four months to go. Bring it on.

There's always a bit of slippage in these matters, but in the audio presentation last week it sounded like I3E were good to go once the farminee had completed their funding, and that's now pretty much sorted. They might know a bit more over on the I3E board as Serenity is probably new to most of us here on the EOG board. Would be good to get the COS.

There's always a bit of slippage in these matters, but in the audio presentation last week it sounded like I3E were good to go once the farminee had completed their funding, and that's now pretty much sorted. They might know a bit more over on the I3E board as Serenity is probably new to most of us here on the EOG board. Would be good to get the COS.

Tovoc, read my posts from 16:55 onward.
https://www.lse.co.uk/profiles/phoebus/?page=2

Perhaps they want to take advantage of the current state of the oil bull market and trying to grow the company as quickly as possible to get even better returns for shareholders. Drill is only four months away. As far as I am aware, EOG and DELT are the only LSE listed oil minnows with UK exploration/appraisal drills scheduled for 2022. Should generate a lot of interest in this climate.

Perhaps they want to take advantage of the current state of the oil bull market and trying to grow the company as quickly as possible to get even better returns for shareholders. Drill is only four months away. As far as I am aware, EOG and DELT are the only LSE listed oil minnows with UK exploration/appraisal drills scheduled for 2022. Should generate a lot of interest in this climate.

Share increased by max of 69% not 100%.

EOG hasn't had a proper company making exploration or appraisal drill for a really long time, so I'm not surprised if some aren't comfy with taking risks. However, there are plenty of investors who absolutely love this sort of thing and will be all over it especially with the oil price skyrocketing. Anyone remember Barchiz-1 back in 2010? 11p to 42p in under four months. Same time frame as this drill. With Wressle cash rolling in, the good times are coming back for EOG.

The higher the better, but for a company of EOG's size they did well to raise such a lot of cash in such a short period of time. It now offers a bargain entry. I guess mates will be chomping at the bit ahead of the re-rate. Very lucky.

The higher the better, but for a company of EOG's size they did well to raise such a lot of cash in such a short period of time. It now offers a bargain entry. I guess mates will be chomping at the bit ahead of the re-rate. Very lucky.

EDR's market cap is currently £14.7M and following today's placing EOG's market cap will be £17.2M at the placing price. I think EDR has a liability of around £1M it has to pay so even after EOG's placing the two companies will have roughly the same enterprise value (market cap - assets + liabilities). Considering they both have 30% of Wressle would you rather pay the save EV for the one with the Serenity drill (EOG at 1.8p) or the one without the Serenity drill (EDR at 2.85p)? Go with EOG and you are effectively getting the Serenity drill for free. When you consider that EDR and EOG look undervalued on the basis of Wressle cash flows alone, EOG looks a no brainer at 1.8p.

No probs. Quick scramble to find what I could. Time for a cool beer.

Should read four months. GLA

Check out I3E's presentation from last week. Serenity talk is from 1:43:10.
https://www.youtube.com/watch?v=mZXBEWQodLI

'...up to 200 MMB of oil in place ...in the Captain's reservoir, which is one of the best reservoirs in the North Sea...'
'...at plateau between 30 and 35,000 barrels per day...'
'...in a position to drill that well in early Q3 this year...'

So game changing drill in only three months. Brent at $111. Rock on.

Actually UFO went from around 0.1p to over 3.1p over several months. It took a few weeks to hit 0.95p on the way up and the very next day they did a raise at only 0.55p and only managed to raise £1.25M despite the huge volumes. I was pretty miffed, but it then hit 3.185p just six weeks later on Oct 19 despite plenty of options being exercised at only 0.12p and 0.15p on the way up. Then on Nov 23 they did another placing, this time for £2.5M at 1.1p.

EOG has raised far more than UJO did in total, in far shorter a time frame, with much lower recent volume and is fully funded from the first raise for the planned operations. I say fair play. Eyes forward to company making drilling with Wressle upgrades and cash flows to come.

Look at it this way, the SP has hardly been above 1.8p at all in the whole of the last 2 years, so for a company like EOG to raise £7M at almost the 2 year high up to a couple of weeks ago is pretty impressive. It looks bad because the rally in anticipation of Wressle updates went into overdrive once Russia invaded Ukraine and sent the oil price through the roof. Oil is still high, Wressle cash is still flooding in, we still have Wressle CPR and flow rate upgrades to look forward to and now we have a potentially game changing drill in only 3-6 months time. EOG needed something else to light the touchpaper in this oil bull market and here we go. Game on.

... caught on the hop by the events in Russia and the sudden surge in oil price. To be fair, that EOG has managed to raise £7M is impressive. Onward and upwards now with ramp up to drilling as oil surges way over $100 and oil stocks go bananas. :D

It does seem an odd price. My guess is the deal was

We can see the tie-back route here.
https://wp-i3energy-2021.s3.eu-west-2.amazonaws.com/media/2021/12/Serenity-Location-2.png