Member Info for Phoebus

Lots more shares in issue now after secondary closing so 33p peak is much lower. And that was before peeps lost confidence in BOD or had enjoyed months of poor communication.

No. At �250 a pop a non operational RNS is cheap talk. I want to see some actual progress first. A SP can fall a long way while we wait. Best of luck though.

I'll stop being negative, when the BOD starts to deliver. Still waiting.

Cash burn in the last accounts was more than expected so expect a continuation. I originally invested for drilling around July 2017 after significant research. Seven months late and counting. Communication still deadful. Cash dwindling. Volume collapsed. Not a single trade today, even after that hail Mary pass RNS.

Even if cash burn is that low, how on earth can they pay for the drill?

They can release an RNS about putting their snouts in the trough, but can't be bothered to give any operational update whatsoever despite being extremely overdue. 20p exercise price? Sounds like a cheap trick to help the flailing SP performance. Don't think anyone's that stupid. Makes me think a placing is even more likely. Operations burning more and more cash as the weeks roll on with no actual progress. Pathetic.

from earlier.

MupA, highly likely they will attend. Namibia is a key industry focus for 2018 and ECO has candies for sale, whilst their Guyana licence is probably the hottest postcode in the industry at present.

are late reported and 50K is live.

Drilling seems further and further off, timing more and more vague and liklihood less and less likely. Wressle maybe 2018, Holmwood maybe 2018, Biscathorpe maybe 2018, North Kelsey not even mentioned and now some other small fry now gets a mention. Wressle, Holmwood, Biscathorpe and North Kelsey were supposed to have been done by now. Drilling in 2018? I'll believe it when I see it. The track record on delivering on promised drilling both here and at daddy EDR has been appaling. This is at best a hold until we actually see some operational movement. What a joke!

Great spot. I thought the rig was on its way to Pacora-1, but you are right Muppetalpha, they have already spudded. I must look at more soures than just Exxon's website. http://oilnow.gy/news/exxon-will-begin-new-drilling-foray-pacora-prospect-guyana-week/ https://guyanatimesgy.com/gra-sets-up-special-unit-to-audit-exxon-operations/ The first article states Jan 25 was the planned spud date for a three month drill program at Pacora-1 and the second states it had spudded as of Jan 26. The three months will include logging and testing, which suggests TD is only a few weeks away in late March as per your comments. CPR and Pacora-1 results could well light a fire under this very soon.

ECO's Guyana Orinduik block must be very close. Expecting significant upgrade in recoverable figures including more prospects beyond original two. Perhaps there will also be an increase from additional play types given success on Stabroek block. Exxon should also be spudding Pacora-1 on the bounday of ECO's block very shortly. Very good chance it will be their seventh discovery in a row on the block. SP should heat up here very soon.

Very low market cap and very hard to buy shares under 1p. Could go a long way.

Good spot both of you. It does look like an oversight in the new presentation. ECO has a pile of cash already from the Africa Oil deal and once Total farm in ECO will have about 17p cash per share, so no need whatsoever for any placing. ECO are in a fantastic position all round. Rising on a bad day for the market says it all.

No Mav, I'd say it proves just how interested they are to get their mitts on as much of the local area as possible. Just look how many exploration wells Exxon has lined up for the Stabroek and Canje blocks in 2018. I count 7, with the next right on the boundary of ECO's block. I'm still expecting the new CPR will upgrade the recoverable resources on Orinduik to 1.5-2.0 BBOE or 225-300 MMBOE net to ECO. Still only �50M for some of the hottest property in town. This could easily go supernova from here.

More than 50% of SP underpinned by cash.

And no reaction. Amazing! First drilling on BLVN's flagship Etinde project in years. Remeber that IE-5, the last well on this target flowed at more than 17,000 BOEPD! The nearby IE-3 well flowed at nearly 23,000 BOEPD. Wakey wakey market.

Surely just flipping stock in a very illiquid share.

Disgusting.

really beginning to annoy me with this one.