Member Info for Phoebus

When markets realize conflict is confined to Ukraine I expect it to shrug it all off and rebound hard. Oil will stay high and there will be a massive advance in oil stocks especially those with good fundamentals like this.

Brent $104.

200p is still way too low IMO. We got passed that (184M shares) on Joe and Jethro which were less than 60 MMB combined. Gazania is 175 MMB net and we have lots of huge prospects on Orinduik. That's without all the other licences in Namibia, SA and Guyana, and the other deals Gil is hinting at. Several times 200p is eminently feasible here IMO.

I should point out that Pancontinental also has acreage in Namibia north of these discoveries and their SP has risen 6 fold on the Graff and Venus news from $0.01 to $0.06. Their highest COS target is only 19% COS and a mere 73 MMB on a P50 basis and is still classified as a lead. Marula looks better. GBP needs to catch up.

https://cdn.finfeed.com/images/oil_potential.width-600.png

especially as the net current asset position is very healthy at round £2.2M. This gives an EV of only £4.7M after net current assets, so even if we ignore all the other prospects that means GBP is currently priced at only $0.22 per risked barrel for the 210 MMB 22% COS Marula prospect, which now seems far too low given these epic drill results.

especially as the net current asset position is very healthy at round £2.2M. This gives an EV of only £4.7M after net current assets, so even if we ignore all the other prospects that means GBP is currently priced at only $0.22 per risked barrel for the 210 MMB 22% COS Marula prospect, which now seems far too low given these epic drill results.

No buyout thanks. ECO has the makings of a (multi) billion pound company IMO.

Yep. EOG, EDR and UJO Wressle oil revenues up again. When the market rebounds later this should soar. :D

Oil is over $100 and EME is below placing price. Are we drilling for cream cheese at Jade? Market has taken leave of its senses.

Agreed. Here's the map Davwal mentioned last night. Look at the location of Block 3B/4B in particular. Directly along the coast at the same depth range as Graff and Venus. Golden Lane folks. :D
https://wp-ecooilandgas-2020.s3.eu-west-2.amazonaws.com/media/2022/02/South-Africa-map-Web-1536x1213.png

Anichan, 84 meters of net oil pay = :D:D:D:D:D

'The Venus 1-X well encountered approximately 84 meters of net oil pay in a good quality Lower Cretaceous reservoir.'
'This will enable the preparation of appraisal operations designed to assess the commerciality of this discovery.'

Venus-2 here we come. Orange Basin hotting up big style. GLA

https://www.londonstockexchange.com/news-article/TTE/namibia-totalenergies-makes-a-significant-discovery-in-offshore-block-2913b/15341528

https://www.londonstockexchange.com/news-article/TTE/namibia-totalenergies-makes-a-significant-discovery-in-offshore-block-2913b/15341528

A 25% return on Solear investment in one year. Good business Gil.

A 25% return on Solear investment in one year. Good business Gil.

Sensible points. Good luck for tomorrow.

Not at all. I have plenty of exposure to offshore Namibia including TRP. Just wish Cameroon was sorted as I think it will hold us back versus the other players. It's all taking far too long.

With the OilLR deal failing to materialize and the Beluga deal now long overdue I think TRP will continue to struggle until the Cameroon situation is resolved one way or the other. This is probably why GBP responded way better to the Graff news than TRP. GLA

With the OilLR deal failing to materialize and the Beluga deal now long overdue I think TRP will continue to struggle until the Cameroon situation is resolved one way or the other. This is probably why GBP responded way better to the Graff news than TRP. GLA