Member Info for Phoebus

Isn't Shell trying to push a new green image. How would it look if they started announcing major oil discoveries? They're keeping it on the low down is my guess.

Seriously? A play opening discovery in two intervals is excellent news. Venus-1 results are up next and then ECO is drilling Gazania in the same basin and on a structure where we already know oil is present. Stop overthinking it.

So I think the leak has zero bearing on the size of the discovery.

I imagine the discovery news was leaked as Namibia is not used to this sort of thing and local blackout protocols aren't properly in place yet. I seem to remember it was the same in Guyana with the first couple of discoveries on Stabroek being leaked before the locals were brought in line.

Aren't Shell wanting to look green? Trying to keep their upstream off the radar perhaps? Qatar Energy has confirmed through.

https://www.oedigital.com/news/494051-shell-s-partner-confirms-oil-discovery-at-graff-1-well-offshore-namibia

It's amazing. Our Orange Basin assets will be worth a fortune. :D

It's about time. This is a good looking drill with a decent COS that is close to large discoveries. Reckon this could double into drilling. What does everyone else think?

It's about time. This is a good looking drill with a decent COS that is close to large discoveries. Reckon this could double into drilling. What does everyone else think?

0.443p to 1.04p or 135% is already quite a move in less than a month especially as other Namibian oil stocks have barely budged.

Hard to tell, but given all the constant signposting of the discovery and leaked details (250 -300 MMBOE), if the news isn't way better than expected I'd expect a major dump on confirmation. Will you beat Monecor out the door or are they out already? What comes next? Longer term however, GBP should do well if a farm out is secured, but it could go anywhere medium term. GLA

Why would Shell buy TRP?

Hype v quality. Spot on IMO. I won't be surprised if GBP are about to do a placing. Immediately after the Namibian government announcement perhaps, although just before it might work better. In the few days before their last placing in August the SP rallied to 0.75p before being crushed rapidly for a placing at 0.50p. MONECOR appear to be dumping GBP shares rapidly.

GBP, Reco and TRP are actually closer to the 2012 Azul-1 discovery offshore central Angola than they are to Graff-1, meaning Graff-1 is only more significant to them from a jurisdictional perspective. Funny that investors never talk about this. Guess geology must change at international borders. Who knew?

'but this time we think there could be a lot more room for investor reward'

Why do they only mention Reco then? Their licences are as far away from Graff-1 as is possible while still being in Namibia, even further than GBP, which is already about 1,100km away. LOL

Number of shares is irrelevant. Look at market caps.

I believe ECO was the second biggest acreage holder in Namibia prior to the AZINAM deal, so they might even be number one by now. Lack of volume here is somewhat amusing given developments. GLA

Funny how UK investors are piling into other LSE stocks with Namibian acreage on the back of Graff-1 progress whilst ignoring ECO which has licences much closer to the well. ECO is the only one that actually has acreage in the same basin as Graff-1. LOL

What utter BS.

Don't worry. They've just cherry picked a fixed width channel to try and create the impression that half of the main fairway is on their licence. Can't blame them them, but geology is not that regular and their lines ignore the contours and some of their Stabroek field outlines look a bit iffy. Exxon clearly isn't bothered as they're drilling Barreleye-1 which extends well south of that channel.

Why do you say that TicoR?