Member Info for Phoebus

Exactly. Looks like a re-run of 88E. How on earth 88E managed to rally like it did the past few months on the prospect of flow testing a well that was a failure the first time around is beyond me. Some people never learn.

since their recent placing and now has a higher market cap than BLVN! They have next to no cash and reserves of only 80,000 barrels. This market is beyond a joke. Good luck all Bowlievers.

Make that £90M added! LOL

It's not SOLO's lack of rise that's baffling, it's UKOG's rise. Tripling the SP and adding £80M market cap in anticipation of flow testing a well that has already been flow tested is absurd. Yes, they are hoping to prove up commerciality and recoverable size, but BB-1 was a failure and yet the current market cap of UKOG is far higher now than it was at the height of HH fever in either 2015 or 2016 given the massive dilution since then. Not only do we already know the flow rates for HH-1, this test will be over a much longer period of time and so is bound to lead to lower figures. The rise in UKOG appears to be more a function of UKOG's own brand of sentiment driving pixie dust than anything fundamental, something which SOLO sadly lacks. Fundamentals suggest short UKOG, long SOLO, but the market is a strange place. GLA

+1,000,000

The way the RNS was worded sugggest CPR will not be until September to me.

I disagree. 'gross best estimate prospective resource volume' usually refers to P50 recoverable prospective resources. If they were refering to in place figures they would have used the term STOIIP or OIP. My reading of this is that the 400 MMB is the recoverable figure.

More details of Wick drill released in UPL admissions document CPR. Drill consists of two stacked targets Wick Prospect P50 149.8 MMB and Wick Deep P50 69.4 MMB on licence. See p77 onwards: http://tools.morningstar.co.uk/tsweu6nqxu/globaldocuments/document/documentHandler.ashx?DocumentId=175195969

Current SP is a slight discount to cash. No need whatsoever for a placing.

Snow Leopard P50 is 90 MMB.

Slight typo there. Shares in issue 662.2M.

Current market cap is £70M not £55M. Share is issue are 66.2M as per RNS: https://investegate.co.uk/petro-matad-ltd--matd-/rns/results-of-placing/201806140700043776R/ CHAR reached £85M which equates to 12.8p for MATD. The fact that Snow Leopard has a lower COS than CHAR's 29% COS drill will probably make folks fairly keen to derisk. GLA

after the raise. Hopefully this doesn't go like CHAR SP did after their similar last minute placing pre-spud. We all hoped for a bounce to derisk, but it never came. 10p needs to hold or I fear a lot of folks will start to dump their holdings en masse as with CHAR. GLA

I pointed out yesterday UKOG would do a funding and to wait until then to get in. Gift horse springs to mind.

Tomrya. Folks knew UKOG needed funds and that was holding back the HH programme and preventing its SP from rising. Placing is done so SP should rise from here and work can get underway. Rest of the HH stocks should follow. Time to back up the truck. BEEP!

Penny, shmenny. Look at the market cap.

Will you still feel an idiot when the UKOG funding is announced? Relax and buy then.

Your UKOG position that is.

I hope you sold into that spike if you could get a quote. A lot of bag holders just created IMO with death spiral outstanding and funding pending.

Except there will be a stack more conversions and then there's the pending fundrasing. Buying now is very dangerous IMO. Better off waiting for the terms of the funding.