Member Info for Phoebus

Thanks.

Is the sell liquidity here always this dreadful?

Lack of Twitter coverage is a good sign IMO.

ROSE hinting that figures will be upgraded further as this only includes the resources for the Cane Creek Reservoir.

3D was also under budget so of more cash pile left for other things.

56% COS at this stage is epic. Looks very attractive. Only �4M market cap. This could do very well today.

Brent topped $71 now so those NAV figures will be improving. They seem a little low to me in any case. I'm fully expecting a share price of �3 to �4 if the first Guyana well is a success. Just imagine, big upgrade from CPR, oil strike at Pacora, Total excersises farm in soon after, drilling moved to end 2018, major discovery on first drill, takeover for �500M+ (remember COVE). If Pacora is a strike, I would not be surprised to companies actually bidding for ECO before drilling occurs to avoid paying a major premium afterwards. Loads of companies will be itching to get a slice of the action.

Exactly my thoughts. 100-150p before drill starts turning. There will be a stampede, especially when TOTAL confirms farm in.

Yep. Cash burn up so placing even more likely now IMO. Plenty of CV filler in that RNS, but where are the operational updates we've been waiting aeons for? It's almost the end of January for goodness sake. Flow lines still not completed. Weren't they due last August or so? Not impressed.

Chart does look ominous. Would not be surprised to see a placing RNS anytime.

Should be a powerful combination.

Everything I see suggests that Orinduik operations are actually being accelerated. 3D done well ahead of schedule and on a much greater scale than required. TLW talking about operations in Guyana being brought forward. Huge numbers of wells scheduled for the adjacent Stabroek block. Two companies trying to muscle in on ECO's asset in quick succession. Bloomberg calling Guyana 'the world�s hottest offshore prospect'. The bigger risk is expecting no drilling until 2019 and being caught out when it moves up the schedule.

Well done. Limit order only to buy.

:D

This will go way higher than 40p IMO. I would not be surprised if this hits 100-150p when the drill bit starts turning in Guyana. 150p would only be �1/BOE net recoverable based on a 15% share if CPR returns 1.5 BBOE gross based on the extensive 3D. It's already at 900 MMBOE based on earlier 2D. Orinduik is THE postcode for 2018. I expect everyone will want in big here for the drill and we will see major fireworks.

It looked as if they were burning cash last time I checked. If we have to wait any longer I think we'll see a placing before any drilling or rig contract is announced as they must be very close to eating into the cash needed for drilling. Somwhere in the 8-10p range wouldn't surprise me, nor would a combined rig contract and placing RNS.

Yes, it's unbelievably poor.

so that's 7 BOEPD net to EME isn't it? If that's the case it's awful.

More expensive and less appealing for drilling that is.

12% is low though even based on 2D and this is only for one prospect which was billed with the words 'greatly improved the chance' back in October. My sense was I'm not sure GBP can afford to spend a big chunk of their cash pile on 3D if the prospectivity is only so-so. GBP's licence is futher offshore and likely in much deeper water which would make it more expensive and less appealing.