Member Info for Phoebus

CHAR RNS was very much out of the blue. Decided to double my holding there on the RNS as it now looks very likely they will drill Prospect S in Namibia in 2018 H2 in addition to Rabat Deep in Morocco next month. That's another drill this year in Nambia, a further potential catalyst for ECO farm outs and SP.

Relax and buy some more ;).

El Barco P50 figures are here: https://investegate.co.uk/baron-oil-plc--boil-/rns/update-of-unrisked-prospective-resources/201611300759245209Q/

XXI is 100% BOIL.

also looks good, where BOIL's El-Barco-3X well is targeting 8.17 MMBOE P50 recoverable in two stacked onshore targets. A decent sized target for the low market cap and big cash pile.

Chairman is gone. Good. Another strong sign that times are changing at BOIL as the company moves in a new and positive direction. 'Now ... the Company has funds in place to enable it to change from concentrating on a single, very expensive, long lead time, remote play to a new strategy of looking for near-term drilling opportunities closer to home, with attractive economics...'

ECO is beginning to look like it might be a re-run of Cove Energy.

If 387p seems high, it's worth noting that it would only equate to �2.70 per discovered recoverable barrel. In an area with so many world class discoveries and majors chomping at the bit to get a slice of the action, that would look very cheap. ECO would be a very juicy target.

Note also, if we use their risked model with the adjusted inputs of 1,500 MMBOE P50 gross recoverable and 30% COS this gives a valuation for Guyana of 116p per share on a risked or pre drill basis. If the drill is successful we then have to divide by 0.3 to get their unrisked success case target price. This gives a figure of 387p per share according to their model for Guyana. I would agree.

Thanks for posting the note, although it is way to conservative in its valuation metrics for Orinduik. Who writes this tosh? Perhaps someone is still hoping to back up the truck. Firstly they are working on the basis of 900 MMBOE P50 gross recoverable. ECO has alluded to an increase and I expect the CPR will increase this significantly due to 1) additional play type proven by Ranger discovery, 2) results from other wells on Stabroek, 3) ECO has alluded to several targets rather than the two that account for the 900 MMBOE figure and 4) better target definition on 3D versus 2D. I expect an upgrade to at least 1,500 MMBOE gross or 225 MMBOE net recoverable to ECO. Secondly, they assume a COS of only 15%. 15% was on the basis of 2D seismic, but they have just completed super comprehensive 3D over the entire block. 25-30% is typical for prospects identified on 3D. Given the awseome discovery record immediately adjacent and down dip, I am expecting a COS of around 30%. Thus, if we change just these two input variables accordingly, their risked valuation for Guyana PRE DRILL increases from 35p per share to 116p per share excluding cash per share or Namibia. If instead of a risked barrel approach, we assume an unrisked valuation of 100p per barrel, this would give a valuation of 143p pre drill excluding cash per share or Namibia. Note that JOG reached about 120p per barrel in the run up to its 29% COS Verbier drill last year. Moreover, they suggest ECO has a cash position of about 10p per share. The last time I checked it was about 16-17p per share assuming Total farm in option was executed. This gives a target price pre-drill for Guyana including cash per share and excluding Namibia of approximately 130-160p. ECO is cashed up for 4 drills in Guyana with a potential free carry drill in Namibia. The upside is huge and takeover could be a real possibility. STRONG BUY

Indeed, and folks jumping all over it again as soon as ask hits 0.45p. A very good sign. Given the cash underpining around 0.30p per share and the catalysts beginning to line up, selling now could be an exceedingly costly mistake. A mild jog will see this at 1p+ in no time.

Can't get any again on quote and deal. Excellent sign.

on quote and deal. Not even 6 quids worth.

Nimbidc, Colter is 30 MMB Pmean recoverable with excellent 56% COS.

Another sign perhaps that the parties involved are doing all they can to step up the pace of operations and get drilling as soon as possible. Just like the 3D being done to a much greater extent and much sooner than licence terms required.

As if it's being dragged out until Pacora-1 result is known. Very exciting.

based on Wick drill alone, without mentioning any other potential projects such as Malaysia. I expect this will be at least 10p within 6 months. 40% of 250 MMBOE STOIP with 36% COS spudding September. Do the maths. It's very compelling. GLA

That's pretty sad.

Rock on Pacora-1 results one month from now. Reckon they will have an impact on CPR.

And it looks like there has been a significant increase in the number of drill targets beyond the original two, which should mean a significant increase in P50 figures. '...identified leads on the Orinduik block ... updip of the Liza discoveries, SEVERAL OF WHICH are age equivalent to the Liza reservoir'. Excellent.