Member Info for Phoebus

Did you check the market cap Clintek?

So ignore FOMO and look at track record and nosebleed market cap then?

Yep. Closed at 33.25p on TSX, the highest close for nearly 2 years.

So far we've had Icewine-1, Icewine-2, Icewine-2 (again), Charlie-1, Merlin-1 and now Merlin-2, but how many BOPD so far? Now talk of Texas and other assets. Are they moving the goal posts?

75K @ 30.99p was a buy.

Nathan, Graff-1 news is very good, but please stop talking nonsense. GBP is not next to Graff-1, as per yesterday's GBP RNS, 'the Company's PEL 94 licence ... is situated approximately 1,000km north of the Graff-1 discovery.' Also, 700 MMB though sizeable is far from the biggest discovery of the last ten years.

I'm not convinced at the moment. Gold stocks in general were on a tear when this went into the 40s and at the moment the sector is struggling. If the Fed start to raise raise rates in March, even only minimally, surely the gold price will nosedive and the sector with it. Any other perspectives? GLA

Indeed. Gil has 4.56% and the BOD a total of 17.67%. Might be pre Azinam deal figures. A huge vote of confidence.
https://www.ecooilandgas.com/investors/major-shareholders/

We have already been added to Seacrest's asset map on their homepage. Good show.

http://seacrest.com/#section-117

I note from ADVFN board that Seacrest are now also a major ECO stakeholder via their holding in AZINAM, so they may also be part of the funding mix alongside AOI and Charlestown.

http://www.azinam.com/about-us/

'Discussions are already underway with Eco's key existing stakeholders in relation to underwriting the funds required to participate directly in the 2022 Block 2B South Africa drilling programme.'

For 'existing stakeholders' I would read Africa Oil and Charlestown Energy. I anticipate they will provide the entire funds required and at very close to the market price and will then hold the shares.

On the Guyana front, we are awaiting Canje block drilling where Exxon have applied for environmental clearance to drill 12 wells. ECO does not have to pay anything towards these as it has an indirect equity stake through JHI.

On the Guyana front, we are awaiting Canje block drilling where Exxon have applied for environmental clearance to drill 12 wells. ECO does not have to pay anything towards these as it has an indirect equity stake through JHI.

And 36.9p on OTC.

Hadn't noticed this hit 35.5p last night on TSXV. Nice.

I believe the warrants are at C$1.00 and C$1.50, so significantly north of here. As regards funding, take a look at the funding history of this stock. So far, unlike most AIM stocks the infrequent placings here have been done at a tiny discount or a major premium to the SP at the time. Also, the placees have been high calibre investors with oil companies and real investors taking and building a stake in the business unlike the bucket shops and flippers in many other AIM stocks. Our largest shareholder Africa Oil has repeatedly taken up stock and actually bought a huge chunk at a massive premium on its first investment. Africa Oil is an investment arm of the Lundin Group, a family run resource conglomerate with over $28B in assets invested through multiple companies around the globe, so our backers have very deep pockets. I see no reason not to anticipate an equally high quality funding package for Gazania-1, especially as this will the most significant well so far drilled by the company. Looking very good.

I believe the warrants are at C$1.00 and C$1.50, so significantly north of here. As regards funding, take a look at the funding history of this stock. So far, unlike most AIM stocks the infrequent placings here have been done at a tiny discount or a major premium to the SP at the time. Also, the placees have been high calibre investors with oil companies and real investors taking and building a stake in the business unlike the bucket shops and flippers in many other AIM stocks. Our largest shareholder Africa Oil has repeatedly taken up stock and actually bought a huge chunk at a massive premium on its first investment. Africa Oil is an investment arm of the Lundin Group, a family run resource conglomerate with over $28B in assets invested through multiple companies around the globe, so our backers have very deep pockets. I see no reason not to anticipate an equally high quality funding package for Gazania-1, especially as this will the most significant well so far drilled by the company. Looking very good.

Planning underway for drilling on Block 2B ... ORANGE BASIN ... South Africa in H2 2022. This is brilliant news for ECO following the basin opening success at Graff-1 last week. All eyes will be now be on Venus-1 and then ECO at Gazania-1. The drill is massive for ECO at 175 MMB net, which is more than an Orinduik drill net (!). I expect investor sentiment will really pick up here. Well done all.

A bit of time slippage is all perfectly normal in this kind of venture. All looks very good to me. Licence is in an excellent area. GLA

Doubt there will be any issues at this stage. ECO and Azinam have been partners in Namibia for a long time, so I'm sure they know each others assets very well. The Azinam merger isn't all about SA/Namibia either. Looking at it from their perspective, I'm sure Azinam shareholders will be delighted to get their fingers in the Guyana pie through the merger with ECO. Very hard to come by a opportunity like that. Looks like a great move for all involved.