Member Info for Phoebus

be interepreted as another placing? Given the communication previously it would not surprise me. GLA

Are the sellers aware they are selling at an 17% discount?

strikes again. 38 ppb = 0.038 g/t. LOL Should change ticker to PPB.

900 MMB / 2 prospects x 7 prospects = 3,150 MMB gross, 472.5 MMB net. 472.5 MMB at £3.5 ($5) per barrel if discovered = £1.65B net or £10.38p per share. Risk at 30% = 311p per share. :D

overnight.

Looks like you'll have to wait till 2019 Q2/3 for takeover then. LOL

Your cut and paste map from official sources appears to show quite clearly that today's discovery is right on if not straddling ECO's block and one of its prospects. This news is massive news for ECO and should serve to significantly increase the COS across our prospects. Oil charge, migration pathway and reservoir rock look all but certain for at least the closets prospects, with trap the only main risk factor. Given the fabulous success ratio on Stabroek I'd say the odds of trap failure are low so the odds of a major discovery on Orinuik are now looking exceptional. I agree with you as regards read across for the CPR. I can see no reason why Total would not farm in and have added £20K today on the news. Geologically this is one of the best AIM exploration plays I've ever seen. God knows why the fool are swarming round the usual BS and not piling in here. Cove Energy 2.0 here we come. GLA

Truly excellent work itsyou. Thanks for your efforts.

Thanks for the informative if slightly patronising response.

7.3 MMB is P50 figure on 100% basis. 7.3 MMB x 22% = 1.61 MMB P50 net to UJO.

$1.89M (total current assets) - $2.89M (total current liabilities) - $0.77M (5 months of admin since the last results) + $1.3M in tax refunds gives a net current asset position of around minus $0.5M before any gas revenues or operating expenses since the last results. Surely EME needs funding ASAP.

They keep stating the gross Pmean figure of 14 MMB figure for Biscathorpe, but the key P50 figure is 7.3 MMB gross or 1.61 MMB net to UJO. COS is a strong 39.52%.

http://unionjackoil.com/wp-content/uploads/2018/04/Corp_presentationFa14__web.pdf

to RMP for the upcoming drill on an enterprise value basis (market cap minus cash). That's far too low for an onshore exploration drill of this scale with a 25-30% COS so close to other large discoveries, particularly as it's already more than fully funded. Today's news is excellent opening the door for massive upside catalysts. Given the wide spread and level of undervaluation, selling any shares at this market cap looks very risky indeed. Be right and sit tight.

I said quite a while back the CPR would be September based on Gil's comments, but was told I was wrong. It's a pity the prospetivity is so fantastic the interpretation is taking this long, but the timings outlined in this RNS are as anticipated.

Extended timelines? They already stated well had to be drilled by May 2019 and the RNS states 2019 Q1 which is pre Q2 deadline just as expected. I see no change whatsoever just a step closer to the huge drill.

from 08:01.

to buy even 500 quid. Excellent sign.

Agreed. Net current assets must be around £2-3M or 0.15p.

GBP's CPR isdreadful compared with BPC's. Max COS is only 12% and licence is at the limits of Namibian exploration acreage. Sell liquidity is also dreadful even for small amounts. Won't hold my breath there.

The selling has been tiny considering the rise from 1.26p so peeps are happy to hold at this market cap. Can't see the MMs risk dropping this far at all. As soon as they try in comes far greater buying volume. Continued consolidation followed by further strong and rapid rises. Be right and sit tight.