Member Info for Phoebus

Oh no. You didn't get caught by the Zanaga! Always reminds me of Colonel Zenga-Zenga. https://www.youtube.com/watch?v=cBY-0n4esNY

One of these times, maybe this time, selling too soon will be a big mistake. Worth the risk IMO, especially at such a low market cap.

£600 down in 5 minutes. LOL. Not any easy one to avoid all drawdown in, but when it goes it really goes. Seems to have moved off its 0.40p baseline as well this morning, which is a very good sign. Previous high will act like a magnet. GLA

Should've just gone for a requote and paid 1% extra, would be a couple of £100 better off now. LOL. Too risky to be out of this for long now. Always trades like dry tinder and massive news is due. Better in than out.

See my RED buy at 0.52p and they start selling. Give me strength.

Or regret being locked in when news hits. Doesn't read well from last RNS. Let's see what happens.

It was a delayed trade from earlier.

Cash is not incoming, it's supposed to be incoming and I think it's almost a given it won't. Good chance you can buy around 0.3p come Monday week when the disappointment hits especially given the state of the sector at present.

I don't think the news will be good though. I re-read the last RNS to check, the results RNS from 2 weeks ago. Block XXI: Hope to drill in 2017, but no funds to do so. Flooding has pushed back drilling by several months in any case. Block Z-34: Partner has one more week to farm out and make $2M payment to BOIL or BOIL takes legal action. Farm out is hard in this environment. BOIL commissioned review of 3D with conclusion end July '17. Conclusion: Unless partner farms out or gets the funding by some other miracle, this is going nowhere but down. Except disappointing RNS next week IMO.

SP would do well, but not hyperbag like JOG. Already 1/3 of JOG market cap. JOG was peanuts, £250K market cap or thereabouts when it moved off the low.

I can't see what could be driving the SP. Rest of sector is nasty ATM and that news article was a nothing burger. EME, UKOG and 88E have lots going on imminently and yet even they are negative or flat. Puzzled.

2016-12 accounts show total current assets EUR 0.348M, total current liabilities EUR 2.024M. Since then we have 6 months admin expenses at around EUR 0.3M and a placing of £2.5M minus say 5% for costs. This gives a current net asset position of around £633K. Not a lot, so you are probably correct.

Thanks Mike. On that basis it looks worth investigating further to ascertain free cash flow for overall portfolio.

I have reread it, but don't see anything exciting. Which page should I be looking at because those low cashflows hardly even support the current low SP? Happy to change my stance if there's a good reason. Cheers.

but still can't find any reason to be excited about this. 3 tiny gas projects 'To generate annualised pre-tax cash flow of up to €1.5m increasing to €2.1m + on an annualised basis'. Tiny cashflows even when all three projects are online. Market cap of £8.7M looks a lot for that IMO. No exploration excitement either. What am I missing?

On a £10K director purchase? Traded over £55K on AIM shares myself today. Big deal. LOL

Seen this time and again. Rise on day one. Drop price in afternoon to scoop up shares. SP gaps up on day two. Folks stiffed out of shares. GLA

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Hold on folks.

And they keep increasing the offer.