Member Info for Phoebus

Potemkin market.

If you want Namibia exposure don't forget to look at ECO, which is the second largest acreage holder offshore Namibia after Exxon. It's four licenses surround Exxon's acreage and the area predicted to have best chance of effective Kudu shale source rock.

http://www.alignresearch.co.uk/eco-atlantic-oil-gas/eco-atlantic-oil-gas-now-holding-the-second-largest-footprint-in-hot-offshore-namibia-after-exxonmobil/

I must say I find find the current SP a bit surprising. In May 2020 only 6 weeks after the COVID crash lows ECO hit 28p at a time when oil was $30, Orinduik drilling was thought to be a long way off and ECO had no interest in any Canje drilling. Whilst we still have to wait for Orinduik, oil has surged past $80, equity markets have hyper inflated and we now have an Exxon operated 12 well campaign to look forward to on Canje.

Orinduik is clearly important, but fixating on it is a mistake IMO. Joe and Jethro were only around 50 MMB total 2U net recoverable to ECO and yet ECO's market cap soared to around £200M pre drill. By contrast, ECO's share of remaining prospectivity on Canje is around 125 MMB, so the pending 12 well campaign is clearly significant indeed and offers very serous upside for ECO shareholders. GLA

I must say I find find the current SP a bit surprising. In May 2020 only 6 weeks after the COVID crash lows ECO hit 28p at a time when oil was $30, Orinduik drilling was thought to be a long way off and ECO had no interest in any Canje drilling. Whilst we still have to wait for Orinduik, oil has surged past $80, equity markets have hyper inflated and we now have an Exxon operated 12 well campaign to look forward to on Canje.

Orinduik is clearly important, but fixating on it is a mistake IMO. Joe and Jethro were only around 50 MMB total 2U net recoverable to ECO and yet ECO's market cap soared to around £200M pre drill. By contrast, ECO's share of remaining prospectivity on Canje is around 125 MMB, so the pending 12 well campaign is clearly significant indeed and offers very serous upside for ECO shareholders. GLA

Note that TLW says, 'We are not PLANNING to drill in Orinduik next year.' So the door is left open. Plans can change, especially if circumstances change and other parties alter their calculations. Exxon hits oil at Fangtooth. Total has dusters at Bonboni-1 and looks inboard. Beepei-1 shines a great light on Orinduik canyons. Change can happen all of a sudden.

Note that TLW says, 'We are not PLANNING to drill in Orinduik next year.' So the door is left open. Plans can change, especially if circumstances change and other parties alter their calculations. Exxon hits oil at Fangtooth. Total has dusters at Bonboni-1 and looks inboard. Beepei-1 shines a great light on Orinduik canyons. Change can happen all of a sudden.

It's like a ratchet. Frustrating indeed.

Good to see this moving. If Venus-1 is the reason don't forget to look at ECO, which is the second largest acreage holder offshore Namibia after Exxon. It's four licenses surround Exxon's acreage and the area predicted to have best chance of effective Kudu shale source rock.

http://www.alignresearch.co.uk/eco-atlantic-oil-gas/eco-atlantic-oil-gas-now-holding-the-second-largest-footprint-in-hot-offshore-namibia-after-exxonmobil/

Not sure how relevant it is to QBT. Any percentage gain in efficiency offered by QBT's chips surely remains constant regardless of the BTC price. In fact, as BTC drops miners' margins fall so the percentage gain in margin afforded by utilizing a more efficient QBT chip should therefore increase.

Expecting Exxon operated Canje 12 well campaign to start in Q1 2021 though.

I'm expecting rallies not dips and am certainly not fixated on the court case for providing upside momentum here. It's crypto chip project all the way IMO. Rock on Franchi.

Looks like the start of a re-rate to me.

But at least PNER have asset worth a few million.

If you think that's bad take a look at PNER.

I'm rather surprised by the pullback. News has been excellent with lots to look forward to over the next quarter.

Sycsmith, you should go check the net current asset position and then look at the market cap ASAP.

What a joke.

If even a fraction of that overlaps either Canje or Orinduik we'll be minted. GLA

https://oilnow.gy/featured/20-billion-barrels-projected-at-guyanas-largest-oil-block-region-is-hotbed-for-investments-analyst-says/

like a rat up a drainpipe. :D

Rare_Groove, I couldn't agree more. Any award from Italy will be a nice bonus if it comes in at some point, but it's now of little significance compared with crypto chip project, which should be the SP driver here going forward particularly with the crypto markets on fire and major developments soon to unfold.

The chip news so far has been excellent so it's not surprising if a lot of people want in. As far as I'm concerned any attempt to attach negative spin on no immediate cash bonus from Italy, which was never likely anyway, smacks of someone that missed the boat and wants in as cheap as possible for the chip development project. Bullish.