Member Info for Phoebus

In reality the SP is only about where it was pre COVID, yet we are much closer to drilling and have a major new partner on board. It looked cheap back then so it looks very cheap right now. The increase in SP is not really an achievement as there has been a strong bull market since the lows when DELT had slumped below net current assets per share despite having excellent asset. I can see why the BOD want in at this level, but it's a pity they don't put their hand in their pockets like the rest of us.

I'd like to see them try to buy that many shares in the open market. SP would reach 10p of they tried.

Both PRE and RBW are doing very well today.

https://www.londonstockexchange.com/news-article/ARB/publication-of-prospectus/15147249

I had a read of the latest Hess presentation last night and was particularly struck by the map on page 12 which shows the discoveries made so far on the Stabroek block. It's quite incredible.

https://investors.hess.com/static-files/cd1529dc-ddd7-41b4-8c08-07f973fe8ceb

The discovered fields are so close together and so numerous that they almost overlap completely from one end to the other forming a highway of oil. Looking at it a moment I was struck by an uncanny similarity. Think I shall now refer to the Stabroek Block as Kanaga's Farm.

https://www.youtube.com/watch?v=-LrbTd69iwI&t=135s

I had a read of the latest Hess presentation last night and was particularly struck by the map on page 12 which shows the discoveries made so far on the Stabroek block. It's quite incredible.

https://investors.hess.com/static-files/cd1529dc-ddd7-41b4-8c08-07f973fe8ceb

The discovered fields are so close together and so numerous that they almost overlap completely from one end to the other forming a highway of oil. Looking at it a moment I was struck by an uncanny similarity. Think I shall now refer to the Stabroek Block as Kanaga's Farm.

https://www.youtube.com/watch?v=-LrbTd69iwI&t=135s

By the way, assuming 13 drills are totally independent and have a COS of 30% each the mathematical probability of failure of all 13 is exactly 1%. ((1.0 - 0.3) ^ 13) x 100 = 1%. In other words, the probability of at least one discovery out of 13 is 99%. Does the current SP reflect that level of risk reward? I would say it does not.

Exactly. Just 1 discovery out of 13 is needed and it only need be a fraction the size of Sapote to justify the current SP. Assuming Sapote is 1,300 MMB gross as mentioned previously, WTE's share is 16.4 MMB which equates to over 40p per share at $5 per barrel. The three developments so far on Stabroek have breakevens of $25-$35 as barrel, which is excellent and makes the discovery more valuable.

'As at the year-end, cash was £358,000, which is significantly below the current market capitalisation of the Company.'
£385K equates to a tiny 0.016p per share and that's before any liabilities or expenditure since year end.

STOP DOUBLE POSTING MY POSTS.

13 Guyana drills with Exxon as operator to come plus more likely on Kaieteur and Orinduik. Gross P50 net to WTE way in excess of 100 MMB overall and yet market is dead. Bonkers.

13 Guyana drills with Exxon as operator to come plus more likely on Kaieteur and Orinduik. Gross P50 net to WTE way in excess of 100 MMB overall and yet market is dead. Bonkers.

When this is all over and we've struck it big in the Cretaceous, I think I might take a trip here to celebrate.
http://www.evergreenadventuresgy.com/tours/kaieteur-falls-orinduik-falls-tour/

When this is all over and we've struck it big in the Cretaceous, I think I might take a trip here to celebrate.
http://www.evergreenadventuresgy.com/tours/kaieteur-falls-orinduik-falls-tour/

Agreed, however I thought I understood the facts when I invested in LOGP. Main backers and former drill manager on the project owned big chunks there too. Cheque was in the post forever but never arrived. Sometimes you have to expect the unexpected especially on AIM. Hopefully everything works out here. ATB.

Questioning your assumptions helps avoid costly mistakes. The price action here made me look more closely at Beluga and I've not be able to find much info at all. I also looked into TRP's initial farm out partner from last year. Their website is as basic as it gets. Literally a single page with almost zero info and the heading 'New Website Coming Soon.' Not exactly confidence inspiring. Hopefully it's nothing, but having been caught in the Barryroe APEC farmout saga a couple of years back, you'll forgive me for being rather cautious.

https://oillr.com/

GLA

Questioning your assumptions helps avoid costly mistakes. The price action here made me look more closely at Beluga and I've not be able to find much info at all. I also looked into TRP's initial farm out partner from last year. Their website is as basic as it gets. Literally a single page with almost zero info and the heading 'New Website Coming Soon.' Not exactly confidence inspiring. Hopefully it's nothing, but having been caught in the Barryroe APEC farmout saga a couple of years back, you'll forgive me for being rather cautious.

https://oillr.com/

GLA

Judging by the price action I'm beginning to wonder whether it will get signed off at all. Placing immediately after farm out RNS and at a huge discount. Fails to hold placing price. Fails to go over placing price. SP drops much further. Dreadful liquidity. None of it looks good.

I'm fuming. Something does not seem quite right here. GLA

Dear oh dear.