Member Info for Phoebus

No necessarily. With the outlook for Namibian offshore seemingly transformed, the very low market cap here means there could be plenty of upside on the mere anticipation of a successful farm out. The Marula prospect with 210 MMB 2U and a 22% COS is a lot for a company with a market cap of only £6M and would offer some serious upside if a farm out is successful.

Fingers crossed.

https://neweralive.na/posts/oil-boon-beckons

'...if the results of the Venus well meet pre-drill expectations of a multi-billion barrel find, it will be a huge boon to other explorers in the Orange basin...'

'... it is believed exploration activities in the Orange Basin are "about to explode". '

'Industry experts believe the promise of the Graff and Venus wells will likely trigger an increase in drilling activity in the Orange Basin in Namibian territory as well as across the maritime boundary in South Africa ...'

Remind me, who's up next drilling in the Orange Basin after Venus-1X? Nope ... ticker eludes me. :D

https://www.youtube.com/watch?v=l2JytgMvrC0

According to my maths, even if Wressle output only hits the lower the prediction of 1,216 BOPD, adding EOG's production from other assets I get total annual revenue net to EOG at the current oil price of over £11M, yet Market cap is only £13M. Surely SP should be multiples higher. 5x revenue would be 10p per share.

Good show. Don't want a sugar high. I remember Ntorya-3 (now Chikumbi-1) was supposed to be drilled right after Ntorya-2. :D

WTF?

This should move back up.

'... move speedily on to KNS.' Speedily? I'm trying to keep a straight face. ... Nope. Can't manage it. ROFL

I agree with moving to KNS though.

'Note the word expected, and only for the seismic to be processed and interpreted.'

My interpretation also.

'As stated in August 2021 the Company's position in which it preferred to drill B-3S before the conclusion of the seismic programme remains unchanged. However, in the interests of JV harmony we will support the operator's position and forward plan.'

Seems to me that UKOG is trying to hurry the operator to drill the well, but they want to take it more slowly. I don't ever recall a well being drilled mid seismic campaign even if the pertinent seismic line had been completed. Moreover, once you receive processed seismic you still need to spend a bit of time interpreting it and adjusting your plans. Trying to rush so fast seems a bit fanciful to me.

That was my thought too Rich. Turkey drill likely not until Q2.

I think 70p is far too low. ECO hit over 100p in the run up to Joe-1 and Jethro-1, which were estimated at 20.6 MMB and 29.7 MMB net to ECO and 43.2% COS. Gazania-1 dwarfs that at 175 MMB net to ECO, so 3.5 times the impact of Joe and Jethro combined. We are also told that Gazania-1 is low risk and just a short distance up-dip from an existing flowing oil discovery on what appears to be the same structure, so I expect Gazania-1 will be similar or slightly higher COS.

Guyana is justifiably a hot ticket, but the Orange Basin is flashing up on investor's radars now and if Venus-1X is indeed another discovery interest should sky rocket. All eyes will be looking for exposure to the basin and ECO is up next with Gazania-1 and will be the first stock to offer investors a really highly geared play on the Orange Basin.

We also need to factor in ECO's additional assets, not least Guyana which has been valued at around 20-25p the last two years even without any movement on Orinduik. As interest in Namibia continues to build and Guyana news flow picks up the value of those other assets should boost the SP significantly regardless of Gazania-1. The fact that oil price are also markedly higher than during the Joe and Jethro drills should also help. I think ECO will have a stellar 12-18 months. GLA

NCCL is on the MM driven segment of the LSE. Buyers buy and sell to and from the market makers not each other. There has been no interest here for a long time and now all of a sudden the MMs are met with a wall of buying demand. Where do the MMs get the shares to sell? As the buying continues and the price surges they end up net short of shares.

Not exactly expensive. This was off the radar with a tiny market cap and low liquidity and is now up x4 in just over a day. Looks like a classic short squeeze to me.

Not exactly expensive. This was off the radar with a tiny market cap and low liquidity and is now up x4 in just over a day. Looks like a classic short squeeze to me.

AOI just hit highest since March 2017.

News was intraday and not an RNS, so I doubt most people are aware of it yet. Expecting more reaction as news spreads.

Nonsense Oliver. It's going up because of the Upstream article about Venus-1 that was just released. People read it and want in and as there aren't many shares available the SP rockets. Should get another GBP update if Venus is confirmed and then I guess they'll bang away on that farm out tambourine. Odds look to be improving yet again for GBP.

Nonsense Oliver. It's going up because of the Upstream article about Venus-1 that was just released. People read it and want in and as there aren't many shares available the SP rockets. Should get another GBP update if Venus is confirmed and then I guess they'll bang away on that farm out tambourine. Odds look to be improving yet again for GBP.