Member Info for Phoebus

Looks like CLON's enterprise value (market cap - net current asset position) is now greater than BOIL's thanks to an RNS that states 'the Company's Directors believe'. LOL

BOIL has chunky cash and two exciting drills going ahead. CLON has around minus GBP800K in net current assets and effectively no operations.

Not sure how long it will take to finalise though and it's been an extremely long wait so far. Meanwhile net current asset position is about minus GBP 800K. Time for a placing into strength?

We already knew final regulatory sign off was still pending, so it was obvious drilling may slip into Q4. Meanwhile, completion of the site survey is good news and it looks like completion of Colter survey will be announced next. GLA

We already knew final regulatory sign off was still pending, so it was obvious drilling may slip into Q4. Meanwhile, completion of the site survey is good news and it looks like completion of Colter survey will be announced next. GLA

That's a 23% increase in their overall holding to 9.9% of the company.

worth of shares in OO. Impressive.

Thanks bonum. I see nothing to suggest it needs to be soon though as there are no funding issues at present so they can afford to wait for perfect timing. Jan 2019 fits previous MO perfectly and I expect it will be at a short lived discount to a much higher SP. 88E hasn't even started to rally yet. Let's wait and see.

Since the inital pullback the rally has been very steady so a few are probably still waiting for a pullback to get in. If that's the case, I'd look to buy the bottom of the rising upchannel or any breakouts or pullbacks. Hoping for a cheap placing to get in is risky and could leave peeps on the sidelines. RMP is still only pennies per barrel net of cash at this level, which is incredibly cheap for what's on offer. Good luck however you play it.

I dont' agree with your nuances bonum.

My comment is in relation to the capital raise which was very good deal making regardless of any other issues. Doing a placing at 4p when the price had been 1.1p six months prior was an excellent move and the SP was back near rally highs within the week. PI's had 6 weeks or more to sell above the placing price at up to a 30% premium. We're only two and a half months into this rally and drilling is still 5 months away. Bandy's no mug. He'll wait as long as possible and do the placing as high as he can if he wants to sit pretty. 88E is still in the starting blocks, but will rally hard on huge volume as usual when spud approaches and RMP will accelerate with it. He'll wait until then to act IMO by which time the market cap will better reflect the value of Winx-1. If he succeeds, those of us that bought or averaged down enough in the last three years will also do very well out of the big rise in SP.

54.7p on TSX this afternoon.

You could be waiting a long time. Drilling still 5 months away and last time round they left it until a month before spud to raise funds after a huge run up in the SP. Excellent management by the BOD. I'd expect one around the end of the year, by which time 88E and RMP should be much higher. GLA

I'm staggered the market is overlooking this TBH. Feels just like BPC at 1p prior to the huge farm out ramp to 7.5p.

Agreed Uncle, but do you think 88E will still be sat at £64M when Winx-1 drill starts turning? No chance. That stock has a rabid PI following and I expect the market cap to head towards £150M into spud. Even on a 3:1 relative basis that would put RMP at £50M. With the huge volumes and major PI following in 88E there will undoubtedly be significant numbers of 88E investors that decide to take a position in RMP realising it offers far greater leverage to the result of Winx-1.

Exactly. Risk your £200M at even the low end of the 25-30% COS range gives a pre drill target of £50M or 12p.

Yes, WTE is at about 65% premium to NAV by my calculations, which suggests folks are willing to overpay big time for Guyana exposure. Gearing wise though ECO looks by far the best of the three. Best just to take a direct interest.

Hope Gil announces a 75p placing with Exxon next for a few quid. Would catch a few out.

Don't forget there has been no RNS or SEDAR statement yet. Expecting big gap up tomorrow morning.

Folks on the Canadian bullboards don't seem to have noticed yet.

http://www.stockhouse.com/companies/bullboard/v.eog/eco-(atlantic)-oil-gas-ltd

Only 21K traded since news broke at 17:54.

https://www.reuters.com/article/total-guyana/total-bought-25-pct-in-orinduik-block-offshore-guyana-idUSL5N1VY5TK

Drilling to start begin 'early' in Q3.