Share Name Share Symbol Market Type Share ISIN Share Description
Pantheon Resources LSE:PANR London Ordinary Share GB00B125SX82 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 64.75p 64.25p 64.75p 65.00p 64.00p 64.00p 43,983 08:11:50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -0.9 -0.5 - 139.18

Pantheon Share Discussion Threads

Showing 22976 to 22998 of 23000 messages
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Scot126 Very much appreciate your exceptionally good posts which are helpful with measured, insightful and knowledgeable feedback. Many thanks and here's to a successful conclusion to the recent drilling issues, a smooth pathway to production of gas in line with the amended time frame and onward and upward from there.
Many thanks for the well balanced, articulate posts Scot.
Probably just reported at that time and could have been a sell when there were enough buys to balance it. Does it matter, another red day is the real concern.
T2, I have a look at the other buys at the time, 65.5. Well that's a fine buy with the knowledge we have at present.
How can that be a buy when it's actually the lowest price of the day, I'm a holder but surely pure economics would deem that at that price it can only be a sell....unless perhaps it's a trade from last week which would be a bit odd but then its already in the price so irrelevant.
t2 pgs
Scot, thanks again for sharing your thoughts.
Scot, many thanks for your detailed posts!As we move forward to the testing of Polk 2, with what are understood to be very promising logs, I wonder whether there is any clear correlation between the results for Polk 1 and Polk 3 and the respective log characteristics that these two wells demonstrated, prior to testing?
I think that we may have bottomed
cool hand kev
hTTp:// GSA have reduced their short position slightly.
Thank you Scot.
Great posts Scot, Many thanks for your informed input, and posting of brokers reports. Greatly appreciated!
alamaison5 - 24 May 2017 - 04:48:33 - 2306 of 2320 BIKWIK and Technical Analysis RBG: Keep your eyes on it chaps.
Thanks Scot, much appreciated.
jungle jim
The only thing that needs to change here is sentiment, then its up and away. Panr have lost 12 months, new investors should be well rewarded at these prices . Aimho
john henry
british bulls posts a SELL signal today. i don't know about £1 but looks to be heading back down to low 60s or lower. opec meeting tomorrow, that should make for an interesting day.
Thank you very much scot126 for taking the time to share your thoughts on this board.
I liked Scot's balanced post. I agree with bigdazler that posters threatening to "filter" others are being childish (who cares if you do that ? Just do it quietly if you wish, the BB is a place to exchange information and perspectives, not a school playground) And to then respond to that person later regardless, looks daft.
Yeah much appreciated Scot
Thank you scot126
Dear All - a few thoughts on the recent RNS, the conference call and a "private booth" catch up, in no particular order. 1) Wilcox and VOBM#4 in Tyler County: the requirement for multiple cement jobs is massively annoying, especially as the initial mistake leading to the lack of integrity was caused by a top tier external contractor. Having diagnosed the issue it looks like they've gone for the remedial option offering the highest chance of success (sidetrack) but one that will also cost us a wee bit (c.$800k guesstimate?). The large Nabors rig the JV has used in the past isn't required for this job and the JV is seeking a "medium-sized rig for the Tyler side track". Fair enough. Interestingly, the external reservoir consultants (who have extensive experience in the Wilcox formation in nearby fields) described the data from VOBM#4 as, "highly promising.....and one of the best Wilcox sands they'd seen". The Jazz field (Wilcox) is approx 5 miles south of the JV acreage in Tyler and has an areal extent of approx 2500 acres. The Livingston field (Wilcox), first produced in the 1940's, looks to be a similar distance (I think?) south of the Polk acreage and has an areal extent of approx 5000 acres. I understand that the areal extent of the JV's acreage in Tyler (ref. Wilcox formation) compares favourably with both the Livingston and Jazz fields. I've guesstimated a figure for the number of Wilcox wells, looked at comparators in Jazz/Livingston and am getting an uplift to the final asset sale price in the order of +15-20%.....just for the Wilcox, this figure doesn't include the Navarro. So for those who recall Jay stating at the AGM in Dec '15 that he was AIMING to deliver a "20 bagger on the $30m fund raise at 20p per share" undertaken in Oct '14 may wish to add 15-20% to that 400p target price? Then again you may not. Either which way, whilst the operational issues with VOBM#4 have been annoying and time-consuming, nonetheless it looks like it'll have been a rather pleasant "surprise" for shareholders when the asset is sold. 2) Polk and VOBM#2H: OK, yet another annoying issue. I know some shareholders feel that the horizontal experiment was undertaken too early in the drilling programme from a risk management standpoint. I completely understand that point of view however I'm on the more sanguine end of the spectrum on this one as drilling technology had moved on (though not enough obviously!) and a successful result would have affected the sites, direction and number of future wells to be drilled (and thus costs to the JV) to complete the scoping out of the acreage. Hey-ho. The company does believe that these silica fines (or "flour" as it's sometimes termed?) will also likely have been present in the successful VOBM#1 well, which was a vanilla vertical well. It's worth recalling that VOBM#1 tested at c.1500 boepd on a 12/64th choke.....could production performance be improved in future wells as a result of the knowledge gained from VOBM#2H about the silica "flour"? Jay described how a chemical coagulant can be added to the mud in future wells which ought to remove this "flour" from the well when it moves through from drilling to production. Jay appeared confident and knowledgeable about this process and didn't appear to think it was out of the ordinary when "flour" is an issue in a well. The solution for VOBM#2H will be to "frac or conduct an aggressive acid job" prior to flow testing - approximate cost $200-300k? 3) Gas processing deal with Kinder Morgan. I suspect most shareholders were delighted to read about this development in the RNS and presentation on the website - and the pics look suitably impressive too! Where I do have a criticism of the BoD is that the decision to move ahead with this option and thus to cash inflows has taken far too long. Yes, I fully accept the JV was waiting for the flow test results from VOBM#2H in order to correctly size the gas treatment plant. Yet we've likely ended up with a compromise where the JV could (should?) have bitten the bullet in late January and delivered the same solution. Grrrr, most annoying...but we are where we are. What is encouraging is that Kinder Morgan will have been granted access to the Polk County data from all three wells - nothing like a bit of external verification, eh? Jay did sound confident that the JV has strong grounds to believe that VOBM#2H will be able to make a decent contribution, post-flow test, to achieving a rate of flow through the gas treatment plant such that it operates as close as possible to optimal efficiency. My research suggests that these types of plants need to be operating at or above 80-85% capacity to achieve peak efficiency and thus the best cash inflows for stakeholders? Happy to be further informed on this point? Approximate cost? Guesstimate of c.$500-700k for Pantheon's share of the plant purchase and installation? Looking forward to hearing that the contract has been signed, will be most reassuring. 4) The Future! At the shareholder's meeting I attended it FELT to me that the JV is more likely to drill a couple of lower risk, lower cost wells before embarking on the Tyler centre basin test....perhaps another Wilcox well in Tyler and one more in Polk?....but I don't think a definitive decision has been made. In the conference call, Jay mentioned that the centre basin test drill will likely cost more than originally modelled. The reason for that will be the larger casing and engineering kit required to drill through the Wilcox and Navarro in order to properly target the Eagle Ford - fair play, I like the idea of making that drill as "bullet-proof" as possible. In the meantime the RNS made clear that the company has sufficient cash resources to reach the important "tipping point" where the company benefits from cash inflows from Polk. I got the FEELING that the BoD is loathe to raise fresh capital at current prices and indeed at any time before first production. I think they are also more than aware of their "responsibility" (not the correct word, but you know what I mean) to shareholders who supported the $30m fundraise at 115p last March. Debt has not really ever been on the agenda but as the company moves closer to production in Polk it surely would not be unreasonable were the BoD to investigate forward sales or a temporary overdraft facility pending receipt of first payment come September? Meanwhile, we have our non-exec director buying 25k @ 75p (see today's RNS) following Friday's "cleansing" RNS......he now has 75k shares at an average cost of 84.3p. We also have a c.4.3% total short position. Here's the rub IMHO; there's not much more, if any, stock available for lending according to a contact of mine at a PB (prime broker). Like others on this bb, I cannot see that total short position being maintained all the way to first cash just wouldn't make sense for most shorters who are seeking to take advantage of the delays and the impact it's had on the balance sheet and confidence, etc, etc. Sure, there may be some shorters who genuinely doubt the geology of the JV's acreage and they may hold out for a longer period of time; fair enough. However it's been my experience that MOST shorters view "cash as king". I would contend that when they see cash 'coming to the rescue' of a weak-ish balance sheet, cash inflows which will also serve to increase the confidence of shareholders frustrated by operational challenges/delays, then the pressure to close the short will only increase. I guess we'll soon find out but it wouldn't surprise me to see shorts being closed BEFORE we actually start producing in Polk. Usual health warning: I am a long term investor in the stock and have bought stock in a range from 14p to 170p and added to my position last week. GLA
David you are aware of course that he did buy some around 87p and where is the share price now.I will not elaborate.He now holds 75000 shares which in the great scheme of things should not be influential to pi purchases imo
The Director buying is great. Now that is someone who not only understands the facts which we were all recently given. More importantly he knows the implications I would think which gives his buying weight.
Thick??? Lol Not me that allowed a position to drop from 170 (ish) to low 60's though is it Trev. Time for sleep Trev before the nightshift eh??
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