Member Info for Phoebus

as high as BLVN. About 75% of BLVN market cap is cash or pending cash whilst UKOG and BPC have small or tiny amounts of cash, so are many times more expensive than BLVN net of cash. BLVN has lots of super high flow 2C in the bag, big partners and low risk drilling with major upside underway. SP has been stalled at same SP for months while flies swarm round hope and BS.

As I said the other day, the SP is unsustainably low IMO based on the assets and market cap. Eratic spread is a function of the low liquidity. Just hold and wait for the real rerate to come. I'm expecting it to be massive.

Indeed. Touched around 2.55p on ASX before settling around 2.35p. Looks like the start of a breakout on the ASX chart.

Wick partner UPL also rising strongly today on the verge of breakout. :D

It's easy to think the SP looks unsustainably high merely by looking at the chart. Looking at the assets and market cap I'd say the current SP is actually unsustainably low and would be far more concerned about not having a very strong position. Given how dirt cheap this is, I fully expecting a sustained rerate over the next few months. Far too low at this market cap.

Do let the spread fool you. Almost nothing but buys.

Indeed. With 34.6 MMBOE net recoverable after the farm out plus an additional P50 upside of 24.4 MMBOE P50 at Barryroe, LOGP would be worth 30p+ at $5 per barrel. Definitely sensible to build a position here while it's quiet as I fully expect this to soar rapidly without warning in a similar fashion to BPC. Move could start anytime and the upside looks pretty huge. GLA

discovery. '...a large oil prospect in the successful Nanushuk Play, which is located approximately 4 miles east of the Horseshoe#1/1A Nanushuk oil discovery well drilled in 2017. '

88E only has a slightly higher interest in the Alsaka drill than RMP, but has 7 times the market cap. For exposure to the Alaska drill it would be better to focus almost all on firepower on RMP as it should massively outperform 88E.

drill partner RMP having a good day up 30%. Wonder when we'll hear about the deal closing and rig contracts signed? Can't wait for the drill. GLA

126 MMBOE net onshore US at $5 per barrel works out at over 100p per share. That's why I couldn't care less about Bandy or a placing and neither should anyone else. Risked and unrisked upside are huge here with or without pre drill dilution.

126 MMBOE net onshore US at $5 per barrel works out at over 100p per share. That's why I couldn't are less about Bandy or a placing and neither should anyone else. Risked and unrisked upside are huge here with or without pre drill dilution.

Anyone else experiencing problems with Barcalys Smart Investor this morning? All functionality on the website appears to have failed.

RMP has two other assets. A Gerogia asset which it is looking to sell for a nominal sum and a Philippines asset, SC55 which is currently in moratorium phase until around 2019-05. They are looking to drill an exploration well on SC55 probably between 2019-05 and 2020-05 targeting the Cinco prospect which contains P50 recoverable 267 MMBOE gross, 100.4 MMBOE net to RMP. Gas and a working petroleum system has already been discovered relatively close to Cinco in the previous Hawkeye well. Given the tiny market cap, large pile of cash and large size of Cinco I was already very interested in RMP. The Alsaka deal however is even more tantalising.

Well said. If this was a placing drive they'd be banging their tambourine about the presentation from the rooftops, yet radio silence. If this was on the same rating at 88E then some of us would already be very rich indeed. Sit back and wait for the drill. Once the bees start to swarm over 88E on buildup, they will not be able to justify not having a position here as well. Any sane actor interested in the Alaska drill cannot justify not having the vast majority of their money in here rather than 88E given the glaring mismatch in rating. With little downside risk here at these levels, the upside here is simply incredible. Hold tight and add when possible. This should get extremely interesting. GLA

Very good chance this will be the best performing share of all on the LSE over the next 6-9 months. Upside is gargantuan from these levels with extremely low downside risk. GLA

Market cap is a lot higher than that for for CHAR and ECO, CHAR £29m and ECO £52m, which makes LOGP look even cheaper. LOGP will only have 34.6 MMBOE net recoverable 2C after the farm out is completed, but even that is massive at the current maket cap. Appraisal drilling early 2019 should move this to reserve status and with additional P50 upside of 24.4 MMBOE P50 net recoverable at Barryroe, LOGP could end up with around 59 MMBOE net recoverable post farm out, which would be huge. At $5 per barrel SP would be 30p+.

Very good sign.

Placing explains why the huge buying yesterday only lead to 2.45p. Won't have the same problem today. All the HH RNSs yet to come.

if this suddenly spikes again and significantly on the back of a tweet or RNS. Those taking cash of the table need to be careful or the door may suddenly close on them. Same thing happened last July when the SP fell from 4p to 2p. It initically bounced off 2p to around 2.4p and then drifted for a hour or two before BOOM and the ascent to 10p+ started. GLA