Member Info for Phoebus

Harel, I was pleased at today's news as I've been hoping TLW would reduce or sell their Orinduik stake for some considerable time and today's RNS appears to suggest that this is indeed their plan. If drilling is due within the next 14 months then we should expect an announcement sooner rather than later.

Also, I was not expecting an Orinduik drilling announcement in today's TLW update as both the Joe and Jethro drill plans in 2018 and 2019 were announced first by ECO with TLW only mentioning them at a much later date.

On the one hand I will be glad to see the back of TLW as I invested into ECO 4 years ago for exposure to Cretaceous drilling which we are still waiting for. For some reason Tullow in their great wisdom chose to ignore the tremendous success of that play on the Stabroek block and focus instead on the Triassic which has set us back 3 years. Ultimately however, I owe TLW a huge debt of gratitute as their procrastination has allowed me to build up a far greater stake in ECO than I ever thought possible. This time next year Rodney.

Another £1.4M placing. What on earth are you on about? They have a pile of cash. Warrants will kick in at 20p FYI.

https://oilnow.gy/featured/largest-exploration-campaign-ever-to-be-undertaken-in-guyana-basin-could-see-oil-reserves-skyrocket/

Orinduik next.

Personally I hope Exxon or Hess come aboard as they will bring a wealth of experience and data from their tremendous success on Stabroek to bear in analyzing Orinduik . Given their Hammerhead discovery overlaps into our block and appears to be stacked and adjacent to other targets it would make a lot of sense if they did.

I guess the next announcement we should look for then is TLW farmout news followed by a drilling update, although perhaps they will be announced together as is often the case. If farm down is to occur then the chances of drilling more than one well in 2022 have just increased IMO.

Personally I hope Exxon or Hess come aboard as they will bring a wealth of experience and data from their tremendous success on Stabroek to bear in analyzing Orinduik . Given their Hammerhead discovery overlaps into our block and appears to be stacked and adjacent to other targets it would make a lot of sense if they did.

I guess the next announcement we should look for then is TLW farmout news followed by a drilling update, although perhaps they will be announced together as is often the case. If farm down is to occur then the chances of drilling more than one well in 2022 have just increased IMO.

'Tullow also continues to focus on unlocking value from the substantial prospective resource base in the emerging basins of Guyana and Argentina, while seeking to mitigate capital exposure from historical work commitments of c.$50 million in 2022, through farm-downs.'

Hooray! Music to my ears. Form and orderly queue for a slice of Orinduik. Should be a lot of companies chomping at the bit including Hess, Exxon and other majors. Will we add a few extra percent? With TLW at a more appropriate level and another major onboard it should finally be full steam ahead for Orinduik a la Canje. Can't wait. GLA

https://www.londonstockexchange.com/news-article/TLW/half-year-report/15135230

I noticed. :D

It's 11 years since RKH hit the jackpot at Sealion and the shares are now languishing at 8p with first oil still not given the go ahead. The long lead time to first production didn't stop RKH surging from 10p to 549p on the run up to drilling and discovery though did it? DELT should do just fine into drilling and I would expect production to follow in much less than 11 years, especially with the green agenda and gas favored as the transitional carbon based energy source. Southern North Sea is also not Scotland which is helpful in the face of devolution.

Selene tick equals nitro boost.

Jack, waiting until after drill results is also dangerous. If WSBN gets anything even remotely as good as GGP then it will be impossible to buy at anywhere near the current market cap. That is why I expect the SP to re-rate ahead of drill results as FOMO kicks in and people try to build a position just in case.

GGP does have the goods and is safer in a sense, however they already have a huge market cap for an explorer so it will take an almighty increase in absolute market cap to see huge percentage gains for investors.

Although the risks are higher with an early stage explorer like WSBN, the percentage upside is far greater in the success case. With risk comes reward and everyone needs to chose their own balance. Personally I'm not so interested in GGP at present as I reckon I can get a better return from other investments although I would look at it in the right circumstances. WSBN on the other hand ticks a lot of boxes for me. As far as EUA is concerned, it does not sit well with me at all and I deleted it from my watch list some time ago. How long was that formal sale process going on for? World record wasn't it?

Burleigh, I assume you are referring to EEE. I like EEE, but I believe their Menzies and Eclipse projects are a different type of deposit to Telfer, Havieron and Red Setter. Eclipse appear to be narrow vein gold as opposed to the more massive type deposits of Havieron and Telfer. For big ounces I'd look to WSBN over EEE any day.

Yes HH, many companies are touted as the next GGP. However do any of them have directly owned acreage anywhere near Havieron like WSBN does? Nope. WSBN's closest acreage is only about 20km from Havieron and Red Setter is little over half that to Telfer.

Although a few other AIM companies have acreage in the Pilbara region of Australia they are a huge distance away. POW's Wallal, Braeside West and Ripon Hills projects looks about 200km away, THR's Ragged Range looks about 250 km away and UFO's non-gold focused Elizabeth Hill is further still. The other Australian gold miners listed on the LSE are much further away, even in different time zones. In short, all these companies are so far away from Havieron they have basically zero chance of being formed due to the same local geological processes. WSBN is the only one that is close.

'You cant compare CHAR with ADV.'

Give it a rest.

Ignore my last post. This website is really playing up lately, hiding posts all over the place and altering the context of our discussions. GLA

And again, I don't agree.

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Not many though as the volume is low. Lots of bumfluff trades.

JOG assets are one and two quadrants to the west of this deal, so not directly related, but good to see.

JOG assets are one and two quadrants to the west of this deal, so not directly related, but good to see.

HZM is a quaility mining play about to close funding for the mine. CHAR is a very cheap high COS drill opportunity broadly similar to ADV. As I like ADV, CHAR is obviously more my cup of tea, but both look good.