Member Info for Phoebus

What sort of sick joke is this price action?

Exactly. An averge of one well per quarter for 13 quarters, and that's just for Canje! Quite phenomenal for ECO and WTE, yet the penny still doesn't appear to have dropped with investors. Too busy salivating over EUA and altcoins.

My reading of the Orinduik contract is that no well was required during initial 4 year phase ending Jan 2020, one exploration well is required between Jan 2020 and Jan 2023 and one more between Jan 2023 and 2026. TLW exceeded the initial period requirements by drilling two wells in the initial period when none were required, but the obligation to drill one by 2023 and another by 2026 remains.

https://oilnow.gy/tullow-eco-petroleum-contract/

Do you really anticipate they will do the bare minimum, because I certainly don't. I expect everyone is pressuring TLW to get on with it, government included. Unlike the UK North Sea with hundreds of licences, Guyana barley has a dozen and only half of those are as advanced as Orinduik. Government and industry seem keen to put as many barrels on the books as rapidly as possible so either TLW gets on with it or they will be put under great pressure to move aside or reduce their stake IMO.

If the project maturation work is now done then TLW is at the right stage to farm down its Orinduik interest. I will not be surprised to see two or three wells announced for starters as soon as that is done. Note that Exxon is blowing the minimum requirements out of the water on both Stabroek and Canje. There are several very large cretaceous prospects in the north east quadrant of Orinduik near to Liza and very close to Hammerhead. If I recall correctly, one drill could target three stacked prospects totaling well over one billion barrels. I'm pretty sure plenty of industry participants will be itching to have a go at that given the track record of the area.

I am certain there will be a farm down and the Cretaceous will get drilled out on Orinduik. The only question is when the farm down occurs. Given the huge prospectivity and rate of drilling in the area, I expect it will be sooner rather than later. Important not to be out when news finally hits as this will unlock the door for ECO.

GLA

https://oilnow.gy/featured/tullow-looking-to-bring-in-partners-reduce-capital-exposure-in-guyana/

I think the TLW CEO's wording there is quite telling. 'The overall strategy is to allocate more capital to our core production assets, so what we are looking to do in Guyana for instance is to bring in partners and reduce our capital exposures.'

Note he said 'exposures' in the plural. TLW only has interests in two licences in Guyana namely Kanuku and Orinduik, so I reckon they must be looking to farm down both. They have a 37.5% interest in Kanauku and are the operator of Orinduik with 60% so their capital exposure on Orinduik is likely more onerous and is probably the main focus of their farm down aims. The fact they increased their Kanuku stake in 2018 from 30% adds credence to this hypothesis although the CEO's wording suggests that corporate re-organization has resulted in a change of heart there too.

Just a general shake ahead of Fed meeting tomorrow and Wed IMO. Should get no taper and then recovery into second half of week.

Market is just having a shakeout ahead of Fed meeting tomorrow and Wednesday. I expect them to confirm no taper and everything will vault higher in the second half of the week. GLA

Look at the two RNS that IGAS have released this last week. Their assets share many similarities with EDR's. Perhaps we are about to get the same treatment.

Look at the two RNS that IGAS have released this last week. Their assets share many similarities with EDR's. Perhaps we are about to get the same treatment.

Their behavior on this board the last few days is very poor. Desperate to buy in ahead of Red Setter drilling? Scared people are switching funds from GGP? Aw bless. I know GGP has lost £800M or 30 times WSBN entire market cap in the last 6 months, but they needn't worry. Havieron is an excellent project and both stocks are good investments at the right price offering different levels of risk and reward. Nothing wrong with having exposure to both at the right level if you fancy, but each investor must decide for themselves.

Talking of WSBN's 5 year performance is also laughable. The SP movements of a small explorer like this are driven by upcoming news flow and WSBN has completely changed its business and has a whole host of strong catalysts approaching. For the record GGP plunged 80% from £76M to £15M just a few short months prior to success at Havieron when Newmont decided their Ernest Giles project was pants and walked away. Didn't stop their market cap almost doubling again in the run up to the first Havieron drilling results to nearly £30M when gold was in a funk at only $1225/oz and nobody cared about Pilbara gold. Gold is now $1755 and Pilbara has attracted a rabid following so 20p+ looks very achievable IMO.

GLA

Their behavior on this board the last few days is very poor. Desperate to buy in ahead of Red Setter drilling? Scared people are switching funds from GGP? Aw bless. I know GGP has lost £800M or 30 times WSBN entire market cap in the last 6 months, but they needn't worry. Havieron is an excellent project and both stocks are good investments at the right price offering different levels of risk and reward. Nothing wrong with having exposure to both at the right level if you fancy, but each investor must decide for themselves.

Talking of WSBN's 5 year performance is also laughable. The SP movements of a small explorer like this are driven by upcoming news flow and WSBN has completely changed its business and has a whole host of strong catalysts approaching. For the record GGP plunged 80% from £76M to £15M just a few short months prior to success at Havieron when Newmont decided their Ernest Giles project was pants and walked away. Didn't stop their market cap almost doubling again in the run up to the first Havieron drilling results to nearly £30M when gold was in a funk at only $1225/oz and nobody cared about Pilbara gold. Gold is now $1755 and Pilbara has attracted a rabid following so 20p+ looks very achievable IMO.

GLA

Thanks for the replies.

Thanks for the replies.

Thanks for the replies.

Thanks for the replies.

Thanks Tom.

Thanks Tom.

How long did it take to open an ISA and what do you think of their service? Thanks.

How long did it take to open an ISA and what do you think of their service? Thanks.

How long did it take to open an ISA and what do you think of their service? Thanks.