Member Info for Phoebus

ECO moving back up on TSX to 31.6p.

Apparently it's delicious. Might try some to celebrate if we hit pay dirt.

https://i.guim.co.uk/img/media/139130802ae01808c31deae67cfab8922469381e/0_28_5472_3283/master/5472.jpg?width=1200&height=1200&quality=85&auto=format&fit=crop&s=2fdb01c934021f8d39e5079af051e18f

Apparently it's delicious. Might try some to celebrate if we hit pay dirt.

https://i.guim.co.uk/img/media/139130802ae01808c31deae67cfab8922469381e/0_28_5472_3283/master/5472.jpg?width=1200&height=1200&quality=85&auto=format&fit=crop&s=2fdb01c934021f8d39e5079af051e18f

Apparently it's delicious. Might try some to celebrate if we hit pay dirt.

https://i.guim.co.uk/img/media/139130802ae01808c31deae67cfab8922469381e/0_28_5472_3283/master/5472.jpg?width=1200&height=1200&quality=85&auto=format&fit=crop&s=2fdb01c934021f8d39e5079af051e18f

Looks like we had a bit of de-risking here today as per WTE yesterday. Fair enough, although I see Sapote as a free roll of the dice given another 12 more wells are being lined up. Whilst the 60 days for Sapote are up next week, the Notice to Mariners period for the well ends Nov 30. If Sapote is a basin floor fan then it will likely be deeper than the other drills which should mean it's a longer process. GLA

Looks like we had a bit of de-risking here today as per WTE yesterday. Fair enough, although I see Sapote as a free roll of the dice given another 12 more wells are being lined up. Whilst the 60 days for Sapote are up next week, the Notice to Mariners period for the well ends Nov 30. If Sapote is a basin floor fan then it will likely be deeper than the other drills which should mean it's a longer process. GLA

Given this is the most sensitive point for ECO in a long time with Sapote results imminent, I think TLW choosing it to break radio silence on Orinduik is shameful. With 50-60 wells scheduled on neighboring blocks I really wish they would just sell up and let someone else get on with it. Orinduik has billions of barrels of prospects analogous to the huge discoveries on the adjacent Stabroek block with one discovery even overlapping the license boundary, yet TLW sits on its hands like a congealed turd. Pity the government doesn't put the squeeze on them to get on with it. Good riddance to Tullow.

Of all the current LSE exploration and appraisal drills I've looked at CHAR appears to be by far the cheapest on a BOE to market cap basis which is quite amazing considering it's a high COS appraisal/exploration well. SP really needs to motor to price in the opportunity here IMO. Starting to get very interesting with drilling now only a few weeks away. GLA

Can't get a quote to buy. :( and :D

Oil Man Jim perhaps?

Should read '2.5p under the recent placing'.

I thought the same regarding the AT trades. £3K chunks at quite a clip. Soon mounts up. SP has ticked up and still they go through, so I'm pretty certain they are buys. Someone clearly looks to have the hoover out.

Bitter sweet? I see nothing but good news. Second project added and the six week delay to allow acquisition CPR is F all. The assets look great with Monte Muambe in particular having super intercepts. Frankly the tiny market cap is pure comedy gold and anyone selling is a chump IMO. Whoever just sold 1p under the bid or 3.5p under the recent placing either has no idea what they invested in or must be utterly desperate for cash. The only problem I can see here is the Aquis listing, which means few investors know about it, not many can buy it through their broker and even those that can find there is almost nothing available. Well that's all about to change with LSE listing and I'm expecting a major re-rate when it does. Stop making a Mt. Everest out of a pimple and throwing the Rembrandt out with the trash.

Does anyone get the feeling this is about to launch higher? Drilling is getting rather close.

3D seismic contract has just been awarded covering the three blocks in Suriname that were recently awarded. The blocks are adjacent to the southern end of Guyana's Corentyne Block where CGX and FEC are currently drilling Kawa-1 and south of Block 58 Suriname where Total has already made several discoveries. Total, our partner on Orinduik and Canje, is operator of two of these blocks so they are clearly very keen to press ahead with exploration in this basin. I imagine they will be more than keen to drill just a few km from Liza when they get the opportunity.

https://oilnow.gy/featured/consortium-signs-multi-client-agreement-for-seismic-campaigns-offshore-suriname/

3D seismic contract has just been awarded covering the three blocks in Suriname that were recently awarded. The blocks are adjacent to the southern end of Guyana's Corentyne Block where CGX and FEC are currently drilling Kawa-1 and south of Block 58 Suriname where Total has already made several discoveries. Total, our partner on Orinduik and Canje, is operator of two of these blocks so they are clearly very keen to press ahead with exploration in this basin. I imagine they will be more than keen to drill just a few km from Liza when they get the opportunity.

https://oilnow.gy/featured/consortium-signs-multi-client-agreement-for-seismic-campaigns-offshore-suriname/

Also, if you look at the location of the discovery wells on Stabroek they appear to be making a beeline ever closer to the southern most section of the Canje block and it will not surprise me if Exxon just continues drilling in that direction and makes a succession of discoveries right across that section of our block. Things are about to get very interesting for ECO (and WTE) with or without Orinduik.

I'm not surprised they found buyers. Exxon's 12 well Canje Block drilling campaign is scheduled to start this January. ECO's 2U net recoverable exposure on the Canje block is roughly 145 MMB. Due to the extremely low break evens I seem to remember Hess using a valuation figure of $7/B for discovered barrels on Stabroek. That equates to £736M or 368p per share net to ECO in the success case. Unlike Orinduik Canje has an operator with immensely deep pockets that is clearly very keen to get on with it. The risk is also spread across a large number of drills as opposed to one or two on Orinduik, so the risk profile is a lot lower. Clearly we would all like to see a drill or two on Orinduik, but make no mistake Canje can totally transform ECO's fortunes and there should be plenty to drive the SP here whilst we wait for Orinduik turbo charge the SP. By the time Orinduik drilling gets underway ECO may already have been completely transformed. GLA

I'm not surprised they found buyers. Exxon's 12 well Canje Block drilling campaign is scheduled to start this January. ECO's 2U net recoverable exposure on the Canje block is roughly 145 MMB. Due to the extremely low break evens I seem to remember Hess using a valuation figure of $7/B for discovered barrels on Stabroek. That equates to £736M or 368p per share net to ECO in the success case. Unlike Orinduik Canje has an operator with immensely deep pockets that is clearly very keen to get on with it. The risk is also spread across a large number of drills as opposed to one or two on Orinduik, so the risk profile is a lot lower. Clearly we would all like to see a drill or two on Orinduik, but make no mistake Canje can totally transform ECO's fortunes and there should be plenty to drive the SP here whilst we wait for Orinduik turbo charge the SP. By the time Orinduik drilling gets underway ECO may already have been completely transformed. GLA

Really excellent RNS. SP only at level it was six weeks ago and still 25% upside to placing price. Vanadium asset here is a monster. GLA