Member Info for Phoebus

Hydrogen, I reckon we might get a CPR upgrade on the back of that test. What do you think? Surely the results suggest a better recovery factor, which would translate to higher 2C figures and an even greater level of undervaluation.

This.

Not surprised one bit Dave. IMO after that news the issue is not buyers getting locked in, but sellers getting locked out.

FOG has net current assets around £7.5M with £142M of free carry on stages 2 and 3 on Beetaloo with rollover to subsequent work if not completely used.

CPR indicates 243 MMBOE 2C net recoverable to FOG within Velkerri. FOG licences cover the most prospective core acreage of Beetaloo sub-basin. Much larger than Marcellus and Barnett in US.

Last week's test result suggests 5.2 to 5.8 MMSCF/D per 1km section of horizontal in Velkerri which is well above stated commerciality threshold and translates to 2,900 BOE/D per 3km horizontal. This is a significant increase on the 0.8 to 1.2 MMSCF/D flow rates previously reported for the well and the 0.4 to 0.6 MMSCF/D for the Kyalla 117 well.

Our majority partner Origin is major partner on Australia Pacific LNG project. Gas pipeline runs right across FOG acreage to LNG facilities on the North Australian coast for export to Asia. Origin has multi-billion market cap.

Velkerri 76 S-21 just spudded.

If the £25K fully paid for investment is trading at a massive discount to risked NAV and the £20K free run investment is massively overvalued, it would be better to liquidate the £20K free run investment and either add to the £25K paid for position or wait for something else to invest in ceteris paribus.

I assume by fully risked investment you mean still holding all the shares you paid for. There is far more to managing risk than simply having free shares or not.

I assume by fully risked investment you mean still holding all the shares you paid for. There is far more to managing risk than simply having free shares or not.

And of course the drill decision for Selene could drop any time.

Agreed. I can't wait. :D

Not having a pop at FOG by the way.

Jezzac, you're comparing apples and oranges. Firstly, why on earth would you want a free run at a 95% drill? If I'd done the research and liked the project I'd personally be looking to keep more skin in the game on such a high COS project especially where the shares are very undervalued and the company has indicated a pipeline of additional projects to follow.

Secondly why derisk when the market cap is so massively below the risked NAV. HE1 implyed a ludicrous NAV at peak ramp but people stayed in. ADV on the other hand is massively below risked NAV and currently pricing the 95% COS drill as if it were only 25% COS. Huge upside at these levels according to the CPR. Hot money likely got bored at waiting an extra two weeks and switched to FOG today. Whatever. Let them pay more to get back in as drilling approaches. Will serves them right for being so fickle and a poor judge of fundamentals.

STRONG BUY

Quite how this is flat when GBP is moving higher is beyond me. TRP has all of GBP's bull case factors and then some.

Not firmly enough it seems. See BRES issued their JORC since I looked across the graphite sector earlier in the year. Will crunch the data over the weekend. Many thanks O&W.

Many thanks O&W. Great choice. Orom Cross is firmly on my radar. ;)

Good spot. Given VEGA is all over the place today, I guess you're correct. Meanwhile ETH is on the verge of bursting through $4K. Note also that today's US non-farm payrolls data was dreadful, which has smacked the USD putting a rocket up metals and should be crypto positive too.

Good spot. Given VEGA is all over the place today, I guess you're correct. Meanwhile ETH is on the verge of bursting through $4K. Note also that today's US non-farm payrolls data was dreadful, which has smacked the USD putting a rocket up metals and should be crypto positive too.

Great spot. Which means they either need to get in today or risk this pushing much higher on Monday while they're closed. Be there or be square.

Great spot. Which means they either need to get in today or risk this pushing much higher on Monday while they're closed. Be there or be square.

Indeed Hydrogen. Scrumptious.

https://cdn.leitesculinaria.com/wp-content/uploads/2020/10/trisha-yearwood-chocolate-torte-fp.jpg.optimal.jpg

And only two posts today. Unreal.