Member Info for Phoebus

Market is overreacting IMO. Orinduik timing outlook is basically the same as last year, but TLW now admits it is actively farming down as Exxon drills the closest ever Cretacous prospect to our licence. In the meantime we now have a load of other drills lined up elsewhere to look forward to. This SP action would have made more sense last year, but not now with plenty more catalysts and oil so much higher it just looks overdone.

https://oilnow.gy/featured/tullow-walks-away-from-suriname-holds-onto-guyana-with-200-million-barrel-campaign-planned-next-year/

'Chief Executive Officer Rahul Dhir told Reuters the company is looking to bring in partners and reduce its exposure in Guyana where it is the operator of the Orinduik block and holds a 37.5% stake in the Kanuku block.'

Seems pretty clear that Tullow is looking to farm down Orinduik. This news could hit at any time. Positive result on Fangtooth could be the trigger given its proximity and similarity to the prospects on our licence. GLA

Thanks Don. Question is from around 45 minutes in if anyone else wants to listen.

Do you mean 30 calendar days or market days?

Jackie, WCAT is not a Namibian explorer. If you want other Nambia related stocks on the LSE look at TRP, CHAR and ECO.
All of them have market caps lower than WCAT, which is ridiculous as they have some excellent projects between them and major acreage positions in several countries whilst as far as I can see WCAT appears to have no real projects and its net current asset position is microscopic compared to its astonishing £55M market cap. Besides Exxon, ECO has by far the largest acreage position in Namibia and it surrounds Exxon acreage and the Kudu source rock sweet spot. It also has top tier world class acreage right next to Exxon's incredible Stabroek block in Guyana. TRP has acreage near GBP in Namibia plus a couple of other projects in SA and Cameroon, whilst CHAR has a green energy partnership with Total and a massive gas development/exploration project which is due to drill in the next few weeks and is huge for the market cap.

Thanks Harel.

Surely Exxon will have been integrating the results from the whole area on an incremental basis so they should already have done a lot of the analysis and target selection based on prior wells. I don't see Sapote altering wider Canje drill plans much as as it was targeting a new depositional setting on the edge of the block. More likely it may mean they will drill elsewhere on block first whereas they would probably have followed up closer to Sapote had they made a substantial discovery. The fact they have so many wells planned and only 3 years to drill also suggests they don't want to hang around.

Doesn't Exxon have to update on Kaieteur drill by March? EPA docs show Jan 2022 for Canje drill start and April for Kaieteur.

Thanks for the head up Don. Should I set my limit buys at 6.25p then. ;)

My thoughts exactly Celtics. As you say, it confirms the extension of the petroleum system to the north and in a fairly material way as 16m of 26 API is none too shabby. We just need a bigger footprint. Tanager-1 discovered 65 MMB and it sounds like there was something in certain levels at Sapote too so they need to refine models and pick the next targets. Total is our partner on Canje and Orinduik so all data should feed though to target selection there too.

'move thousands in a day'

LOL

Best of luck buddy.

I'm very interested in the area of Canje that is north of Haimara as the golden lane running from Stabroek to the Block 53 Slonea-1 discovery appears to go through this area. Exxon has a prospect directly west of Haimara in Stabroek which touches the boundary of our block as does Haimara and it will be interesting to see if the drill this soon. I also wonder if they will identify a prospect for drilling just over the block boundary in Canje when they update us on drilling plans. That would get me very excited for WTE and ECO. GLA

I'm guessing they haven't crunched the numbers. WCAT, which has a tiny net current asset position and appears to have no real discernible projects added more than 1.5 times WTE's entire market cap today on a consultancy appointment, yet WTE is ignored. It's embarrassing. Some people clearly do no research whatsoever.

This was humming along nicely with drilling approaching before today's tangential RNS. News was accretive news so should probably have moved the SP up slightly, but no more. Instead we get an over markup on open causing a totally unjustified swing in the SP. Quite ridiculous really. Good if you want to buy in I suppose, but irritating if you are invested and waiting for the re-rate.

Tanger, Jabillo, Bulletwood, Sapote and Bonboni form quite close to a straight step-out line so it will be interesting to see Banboni it can deliver the goods. Block 54 has so far been very successful with 4 major discoveries and one successful appraisal. Bonboni-1 is almost exactly the same step-out distance north of the line of discovery wells in Block 54 that Sapote-1 is north of Haimara-1 and on the same bearing if you start at Sapakara South-1.

Should read ... around Dec 11 in 2017 and around Dec 2 in 2013 ...

I agree. Talk about operation mind screw. I've been expecting a rally here into year end for some time, although we are now very close to the anniversaries of the peaks in the 4 year BTC halving cycle which were on Dec 11 in 2017 and Dec 2 in 2013, which suggests we may only be a month away from the top of the current cycle.

I keep telling myself to hold for gold, but leaving the rally this late is certainly making it stressful whenever BTC and the SP suddenly start to tank. My stash of Lindt 70% is almost gone. GLA

Reaches for the super strength Tramadol ... again. Sound of lone tablet rattles the can.

...

Potemkin market.