Member Info for Phoebus

Yes, the largest undeveloped resource off the cost of Ireland. In fact when I checked a few years ago, I could only find 3 or 4 larger undeveloped oil accumulations in the whole of the EU and Norway. There has been the odd larger discovery since then such as HUR West of Shetland, but make no mistake Barryroe is a very big deal

Well done Dan. Can't even buy 10K shares or GBP180 at 1.8p on quote and deal. Impressive.

Barclays just come back online Mannan.

Same here. Offline for about 4 hours now. Perhaps the MMs were worried we'd buy big on the dip Mannan. ;)

Today's trading reminds me a lot of how RMP traded on announcing their Alaska farm in deal 3 months ago. After the initial spike to 2.65p it retraced to 1.25p and built a base and has risen steadily ever since, touching 4p+ on ASX yesterday. I expect something similar here over the next few months as we get closer to drilling

more than happy increase their shareholding today by more than 1% to over 13% of the company.

Gaffy, exactly, although the quote was based on someone else's methodology. The 20p figure I stated earlier was based on $5/B without any upside for other intervals. Factor those in and I would expect 30p+ per share. Given how BPC, I3E and the like have soared to huge market caps on very little it's truly remarkable LOGP is still languishing at these levels especially considering the size of its 2C and P50 relative to its market cap and with a drilling campaign of up to 7 wells only a few months away. Give it 2 or 3 months and folks will be wondering why on earth they didn't back up the truck at these levels. PVR should do well also, but LOGP offers by far the best leverage to Barryroe from here.

August? 2019 Q2 starts April. You are right about an improved deal. LOGP header made it much clearer:

'Binding Farm-out Agreement signed with APEC
Enhanced Multi-well Drilling Programme of 5 firm Wells and 2 Option wells
Increased Loan and Carry Agreement
Preparation work to commence immediately, with first drilling anticipated in Q2 2019'

RNS of a no deal is now gone. A truly excellent RNS.

Typical so called financial journalists. Utterly clueless.

https://itellsya.files.wordpress.com/2010/11/daily-star-231110.jpg

And if we divide your £341m figure by 4 to get the corresponding figure for LOGP we get £85.25M. Current LOGP market cap only £11, which gives 7.75 times upside! Moreover, drilling is targetting significant upisde in additional intervals. Epic undervaluation.

Out of date and way too low a target price IMO. $5/barrel put this around 20p+, without the significant upside from other intervals.

After the way Dempsey-1 was handled I'd rather EME had nothing to do with it and focussed on Indonesia and the Pearl River Delta.

Guessing the numpty who sold 100K this morning didn't bother checking the ASX.

With strong volume of 5.4M. ASX price already ahead of LSE before session started too. AIM has some catching up to do.

to 3.24p.

Personally, I wish they'd forget about expanding the business and just focus all funds available on drilling Guyana and play for a blockbuster takeover if it comes up trumps. Namibia is enough of an insurance and adding a third project at this point would be a waste of time and resources IMO.

yet the most they'll quote for is £46. Ridiculous. Still, if we strike oil with the same liquidity the SP will get squeezed through the roof.

Sorry, my calcs a bit out.

Net current asset position: EUR0.399M (current assets) - EUR 0.585M (curret liabilities) - EUR 0.223M (admin since 2018-01-01) = minus EUR 0.409M.

Net current assets around minus GBP700K by my calcs.

It looks like CLON and PET both have negative net current asset positions of about minus GBP 800K and 700K respectively, which would suggest they need to get funding sorted.