Pantheon Resources Share Discussion Threads

[sirmark] 02/11/2021 07:43

Deadhorse getting much colder from next week with it falling to -20 from Wednesday(night figure-17 day)

[responsible investor] 01/11/2021 19:46

Climate change and COP26 the rest of the world v China, the 37th largest polluter per capita.

I recommend all interested parties to listen to:

[winner66] 01/11/2021 16:33

Chris. So true haha .Tree planting department are decent though .

[chris0805] 01/11/2021 16:03

Where as highways in London are greatLol.

[scot126] 01/11/2021 15:40

Splendid, we can add revisionism to ngms27's many expert traits.

[ngms27] 01/11/2021 15:08

No they chose to leave because someone dared question their viewpoint. However I have great respect for Telemachus to this day and also wish he would post here.

[winner66] 01/11/2021 14:46

Lime trees are best at absorbing toxic substances. Think London parks and streets. Planted in order to assist with exhaust fumes. They also require very little water in order to establish. Problem is highway agencies outside of London are generally clueless on many fronts

[ngms27] 01/11/2021 14:39

Reforestation is the way to go but apparently certain trees only capture carbon in certain settings. Some forests are actually net carbon producers.

[dhb368] 01/11/2021 14:30

forwood, it is a very quiet day volume wise. Perhaps no surprise given the start of COP26.

Comforting to see the price gently rise, perhaps the weak coal statement from the G20 is providing some comfort to those worried about their oil sector exposure.

[shanig] 01/11/2021 14:30

Problem is you can't stick enough trees on top of a gas or oil run power station to remove the carbon emissions.

[dhb368] 01/11/2021 14:21

Apparently it is a highly skilled job.

I drive the A14 upgrade between Cambridge and Huntingdon regularly. They removed 400000 trees during construction and planted around 1 million trees/saplings to replace them.

ALL of them that are visible are dead, that is not an exaggeration. No wonder the UK is falling behind.

[forwood] 01/11/2021 14:17

dhb - I noticed the previous 2 Mondays there were barely any institutional sales. Today so far 321,458 AT buys v 202851 sells; 90,187 O buys v 146076 sells

[forwood] 01/11/2021 14:04

yoghurt - nurseries are complaining of a shortage of trees and the UK falling behind tree planting targets. Can't get the staff!

[michaelsadvfn] 01/11/2021 13:15

yoghurt73,

Planting trees is a good solution but not as good as ridding the world of Bolsonaro and his grubby ilk. If the rain forests are gone there’s not much use bothering with anything else. I won’t even start on what’s going on in Indonesia with palm oil plantations....we217;re all doomed unless greed & corruption cease, but that’s not going to happen is it, ever.

[dv01] 01/11/2021 13:13

Just an observation, but the volume is tiny today.

[rafthorney] 01/11/2021 12:48

Green hydrogen looks interesting.

[yoghurt73] 01/11/2021 12:26

I heard of an amazing technology the other day for carbon capture. A tree.

[dhb368] 01/11/2021 12:09

Forwood, the problem that we have is that green influenced policies are not fit for purpose when they put ideology before reality.

Pick any road in any city that is now a single carriageway with a bus lane instead of a relatively free moving dual carriageway. More people on buses, probably. For the drivers, more time stationary in traffic polluting the air around them, fuel economy down 30%, longer journey time? How does that improve the environment, it actually increases emissions. What is the economic cost?

Gas produced in the UK has a lower environmental cost that LNG imported from the USA and certainly a lower political cost than getting it from Russia. Policies that restrict domestic production will actually increase emissions, and in the current environment do not make any sense.

I would not be surprised to see a change in how emissions are calculated to include manufacture and transport of imported goods for each country, and perhaps talk of using tax to speed the move to green energy, but absolutely no chance of actual blocks on development in my opinion.

The USA, Russia, China and OPEC have no intention of killing their own economies which rely heavily on production or cheap energy. Just not going to happen.

[probabilityofsuccess] 01/11/2021 12:05

A sensible hedge in the scenario you write about would presumably be to go very long US crude then Forwood?

[shanig] 01/11/2021 11:40

There would appear to be a major ground swell building in the world of carbon capture/storage and green hydrogen plus blue hydrogen with carbon capture. These technologies answer a lot of questions and allow the use of existing infrastructure. I really hope governments pour considerable funds into what could be a short to medium term answer. As I said previously, it would provide some confidence for the O and G sector.

[unlikely2] 01/11/2021 11:19

It would appear that the oil majors are awash with cash -. see quote from Oilprice.com at the weekend.

Chevron reported stellar Q3 earnings, beating on the top and bottom line, with EPS of $2.96 (beating expectations of $2.21), the highest since Q1 2013 on improved market conditions, leading the energy giant to weigh more share buybacks while reining in spending after surging natural gas prices and oil-refining returns drove the U.S. supermajor’s free cash flow to an all-time high. Then moments ago, Exxon Mobil also posted its biggest profit in seven years with Free Cash Flow beating estimates and surprisingly pledging to spend as much as $10 billion on share buybacks over the next 12-24 months.

Among the details -

Woords: "Next month, the board will finalize our corporate plan that supports investment in industry-advantaged, high-return projects, and a growing list of strategic and financially accretive lower-carbon business opportunities... expect to increase the level of spend in lower-emission energy solutions by four times over the prior plan, adding projects with strong returns as well as seeding some development investment in large hub projects that require further policy support."

[forwood] 01/11/2021 11:18

dhb368 said: 'I am not expecting an RNS until after COP26' (12th Nov is the end date). I think you may be right about that. The industry will want to see whether the conference comes up with policies that could impact tax and development. And that is highly likely in my view, though we won't see domestic policies for some time after. On the other hand, if a fund raise is on the cards, maybe PANR would want to get that away beforehand - why run the risk of allowing pesky world govs. to throw a spanner into the works!

Here, the North Sea Cambo development is under threat (anyone see Andrew Marr trying to extract a nod from Alok Sharma on that?). The Guardian carries a headline today about UK gov facing legal challenge if ministers wave through plans for new reserves without considering the latest evidence on environmental impact. Then there's the hooha about Shell and BP paying almost zero tax on its North Sea operations. I doubt the US will be immune to such considerations and while State lands can decide their own controls, if Biden was able to get further concessions through both chambers, Federal law would force States to comply.

Personally I doubt they'd be that stupid, as come what may the world needs oil & gas for the foreseeable future and won't want to pay through the nose by relying on the dwindling supplies in current developments. But we have to appreciate that we're investing in an industry under existential threat, operating under heightened awareness of the need both to control carbon emissions and to generate cash to develop alternatives.

[dhb368] 01/11/2021 10:28

I think I was 13-14 when it really sank in that I am responsible for my own actions, regardless of any provocation.
I understand that it takes some a bit longer.

But to the future. I am not expecting an RNS until after COP26, but remain fully invested just in case

COP26 will give us some interesting headlines to ponder over the next two weeks.
I suspect that recent events with regards to energy security (no wind, Russia reducing gas supplies, etc.) will the mean that anyone with hopes of action that will materially hinder oil/gas supply will be severely disappointed.
The exception being coal, which is an easy target for developed nations and I suspect a significant part of why Scott Morrison was reluctant to attend.

The focus will be on accelerating green energy infrastructure and for the USA especially, ensuring energy independence, which means continuing to exploit low cost resources in Alaska for the foreseeable future.