Member Info for Phoebus

AOI up 25% to 7 year high.

AOI up 25% to 7 year high.

Africa Oil has a 6.2% stake in Venus via its holding in Impact Oil and Gas and their SP is stating to respond. Now up 7.5% to its highest in almost 5 years. :D

Great spot Harel. Fantastic news for us all.

Looks like Total might have a rig option for an immediate follow on appraisal well.

https://www.maerskdrilling.com/news-and-media/press-releases/maersk-drilling-awarded-contract-extension-to-drill-world-record-well-in-angola

'...after which the rig is scheduled to move to Namibia to drill the Venus well. One one-well option remains on the contract.'

Looks like Total might have a rig option for an immediate follow on appraisal well.

https://www.maerskdrilling.com/news-and-media/press-releases/maersk-drilling-awarded-contract-extension-to-drill-world-record-well-in-angola

'...after which the rig is scheduled to move to Namibia to drill the Venus well. One one-well option remains on the contract.'

Anyone know if the drill ship is contracted elsewhere after this or could Total keep hold of it and go for an immediate appraisal if successful as per Shell at Graff?

From ADFVN TRP chat, 'Totalenergies drill ship has spent 85 days at Venus-1 since spud, and is now repositioned 100m plus from well site!!!'

https://www.marinetraffic.com/en/ais/home/centerx:13.266/centery:-29.478/zoom:19

Clicking in on 'past track' it looks like it could be the case. GLA

Production licences recently extended, but only until December and cash only enough for another 6-9 months admin costs at current burn rate. Jan 31 RNS stated, 'The Company also confirms that it is working on funding options for the next period of the Licences. A further announcement will be made shortly ... .' I take that as meaning a fund raise is imminent.

They also have almost identical market caps and the same share of Wressle. Good time to do it.

Now is the time to keep it simple. EOG and EDR already have a road to riches within their grasp without getting fancy. All they need do is save the cash and use a couple of year's revenue to get Endeavour or Inishkea to the next stage at an affordable level of participation and shareholders will be richly rewarded. Merging together would double the war chest for whichever project is most feasible as events unfold.

Surely EDR and EOG should merge? Similar market cap, similar assets, same slice of Wressle. They would cut corporate overheads and could build up a war chest ready for their Irish and North Sea gas projects. Morocco farm out and the odd decent UK onshore drill if planning permission granted to add a bit of spice.

So far we've had two commercial discoveries up slope of the Cretaceous discoveries running across Stabreoek. First was Pluma-1 in 2018 and then CGX's Kawa-1 discovery earlier this month on the Corentyne block. Exxon are now drilling Barreleye-1, Wei-1 is up next for CGX, Repsol is drilling Beebei-Potaro-1 in May much further up slope and now Exxon announces Lukanani-1 between Barreleye and Pluma. That's four wells all up-slope, which clearly indicates a shift in exploration focus among the majors and bodes very well for drilling on Orinduik which is in a similar up-slope position. Tullow should have plenty more data to help finalize drilling decisions come Q3.

https://oilnow.gy/featured/exxon-targeting-hydrocarbons-at-multiple-wells-lukanani-1-to-come-under-drill-bit/

https://oilnow.gy/featured/totalenergies-strikes-more-oil-at-surinames-block-58/

I believe it's > 1 billion BOE combined.

Luiperd and Brulpadda are not prospects, they are discoveries.

0.31 to 0.13. Looks like a glitch to me.

Toddler. LOL. I think Namibia has previously been happy to extend licences for various companies. ECO managed to get a new 10 year cycle on their Tamar licence last year. If the Majors want access to GBP or TRP acreage I think Namibia should tell them to farm in.

I make that six successful wells now on Block 58 plus one further east on Block 52. Guyana-Suriname Basin gets better and better and better. Venus up next. Outlook here is excellent. GLA

https://www.londonstockexchange.com/news-article/TTE/suriname-totalenergies-announces-another-significant-discovery-in-block-58/15336224

https://www.stabroeknews.com/2022/02/20/news/guyana/new-well-set-to-be-drilled-in-kanuku-block-in-may/