Pantheon Resources Share Discussion Threads

[padamster] 28/3/2022 12:11

Agreed. It’s a major discovery- simple.

[simon_64] 28/3/2022 12:07

Pad

I don't think it matters either way anyone buying now or already holding are going to have very large smiles over the next few months, crazy price.

[padamster] 28/3/2022 11:54

You only have to read the last rns and it’s highly unlikely they are to return to testing but they confirm that they are happy with drilling campaign. People are sewing seeds for their own benefit. No one should be surprised if the next rns says they have secured the well at TW to prevent issues with hole and they are progressing matters with Alkaid.

[simon_64] 28/3/2022 11:52

Size of the drop is a surprise considering the tiny volumes.

Someone is going to scoop up the small PI sells and the traders will be locked out soon.

[probabilityofsuccess] 28/3/2022 11:50

It feels to me like people are trading on whether or not they will return for more testing in the next couple of weeks, which is dependent on a couple of factors:

1) weather (it’s still very windy for the next week or so)
2) whether they need to (doesn’t sound like they do, based on RNS wording)

As hiddendepths said earlier, most long term investment decisions from shareholders are now likely based on one’s view of the BoDs integrity and whether or not you trust them………simples!

[forwood] 28/3/2022 11:35

If they don't test again, it will demonstrate lack of confidence in the resource. Weather permitting, I expect them to test again - either a clean up of the existing test site if feasible and timely, or going uphole to a clean site, whether LBFF or UBFF. If they then still have time, they should return to Talitha. Leaving things as they are will leave some believing this season has failed to live up to expectations.

Despite the negative spin from Pro and ngms - why post if you allegedly have no further interest here? - I'm prepared to accept the board's assurances on proof of concept and have bought more accordingly this morning.

[pro_s2009] 28/3/2022 11:19

hondabcf......your missing the point.

They have tested, they can walk away now with a dribble and say it proves moveable oil.

Fair enough......

If they test again and it does not flow, they cannot hide this news, they must update the market. Imagine the share price with a new RNS that says we attempted to flow and it failed and its blocked like Talitha so now no flow.


Sometimes its better to retreat gracefully with some kind of positive result, than keep going and turn a positive into a negative.

[bigwavedave] 28/3/2022 11:17

Is there an alternative announcement to the RNS on Thursday which took us to 135p?No, I thought not.

[hondacbf] 28/3/2022 10:54

Pro-s2009 on that basis no one would ever test!!!!!!

[dhb368] 28/3/2022 10:54

I think that some people have forgotten the purpose of this years drilling and testing campaign.

PANR agreed 'acceptable terms' for a JV, only to see that amended at the last minute by finance guys. In those circumstances it was deemed 'less costly' for shareholders to pay for the first stage themselves, and that has without doubt been proved correct.

If the JV partners were interested before the TW data was obtained, before Talitha flowed from BFF, are they likely to be more or less interested now?
Are they going to be happy with the finance guys that cost them a much better deal?

The plan for PANR has always clearly been to bring in a partner. The price of entry has just gone up.

The previous deal was >$1billion for 'considerably less than 50%' of the project. If that data is as good as they suggest, worth noting that the RNS have always been conservatively worded, I would imagine that discussions will be underway again soon for considerably less than the previous agreed 'considerably less than 50%'

I am not disappointed with this season so far.

[bryproj] 28/3/2022 10:44

Agreed ddl. Sandcrab's post clears up the bpd arguments for me, and stacks up with Telemachus comment "test results all good news - although I previously said 100-150 bpd needed to underpin commerciality, that would have been on the basis of the whole interval aggregate rate" - and then there is the 40% fracking fluid to take into consideration.

[dan de lion] 28/3/2022 10:22

Post 24896.

This post makes complete sense of what PANR where trying to do at TW, us punters on
the outside of the knowledge trying to second guess, will be enlightened when what they were trying to do will be explained in layman`s terms.

At the webinar, Hopefully.

[ringsing1] 28/3/2022 10:14

@Pro, in terms of speculative fiction, I give you top marks !!

Imagine, if Putin decided to drop a dirty-bomb on the Pantheon acreage, in retaliation of Biden’s recent comments about him… Probable - yes absolutely, likely - not in a million years…

[pro_s2009] 28/3/2022 09:41

Unlikely, there is a good reason not to test further... Its called quitting while you can...

Imagine if they resume testing and there is no flow.

They have to report it failed to flow in the next RNS.

So sometimes quitting if you have something is better than trying more and ending up with nothing.

[unlikely2] 28/3/2022 09:41

Next RNS will be interesting - we are all just guessing until then, without sufficient real information to base our thoughts on.

[ngms27] 28/3/2022 09:36

unlikely2, they don't have time to test the LBFF, probably also don't have the required materials either.

They either continue to see if the LBFF cleans up and flows better or try something on the SMD at Talitha. They will stick with the LBFF.

[unlikely2] 28/3/2022 09:33

Conditions have improved, the operating season has not ended, why would they not continue testing? Try the LBFF again, but in particular test the UBFF, which would remove the necessity to return next year. SMD at Talitha less important in that info will be got from Alkiad, and if needed to return would be less expensive.

[chris0805] 28/3/2022 09:33

4 March RNS extract below, suggests to me that UBFF was not to be tested at this time. :-((Would like to be wrong :-))The main priority for the remainder of the winter season is to allow sufficient time to satisfactorily test the BFF at Theta West, with operations expected to commence next week. The current unavailability of alternate testing equipment necessitates the movement of the Coil Tubing Unit and test equipment from Talitha to Theta West. This consequently limits the amount of time available for remedial work at Talitha. If time is available after testing the BFF at Theta West, the equipment will be relocated back to Talitha for additional remedial and testing operations. If, however, time does not permit this season, Pantheon will suspend testing at Talitha to return next season. The Company does not believe the issue encountered diminishes the potential for the SMD on its acreage.

[sandcrab2] 28/3/2022 09:32

Iceberg on Lse makes interesting points

400 bopd wow!Sat 10:11
That would be fantastic from the lower BFF, wouldn't it!
Now imagine if we had received this from an RNS with say a 100ft perforation from the best section of the BFF...
The thing is we have pretty much done that.
Instead of a 100ft section we have only perforated three 10ft sections so only a third of this, so we would expect 130bopd.
Each 10ft section is not from the prime section of the 900ft column, they have decided to get the best data by taking sections of the top half of the column. maybe 1 of these sections will be the prime one, maybe not, but the whole 400ft thats been partially sampled will not be.
Now we also only have half of the fluid recovered (for a test like this you would be expecting 90%>), this kind of indicates that we are not getting flow through maybe 50% of the perforated holes.
Given all this an initial of 100bopd and a sustained of 50 bopd is incredible in this kind of test.
The BOD will know that with a full 2 month test, cleaning equipment etc and a full 100ft perforated section, they would get stunning results. They will know the pressure, how much of the 10ft sections are flowing etc. This is why IMO, they have declared so openly that the results have exceeded expectations and that they might well be increasing the recoverable oil figures from the 1.2bn for this section.
Simply the results (BOPD) don't matter as much as the BOPD to perforated and flowing section ratio.
The small punters, probably don't realise this, which is why they are selling, they would prefer 250-300 BOPD from the whole oil column, even though it would be worse. However the bigger players and funds all seem happy, which is why they were patiently buying nice and slowly. As has been said the same happened with the Talilha well, when it was misunderstood by small retail and over the following 2-3 weeks it rose. IMHO this will be above 140p by the end of the first week in April easily.

[chris0805] 28/3/2022 09:25

Agreed Brian.. My understanding is that they were not planning to test the UBFF. No reason given for this but that was my interpretation from previous RNS releases. Will check which one & revert..

[ngms27] 28/3/2022 09:24

Pro is lots of things and I very rarely agree with him.

BUT his stance is identical to mine in that they will likely have to drill a proper producer at Theta West as proof of concept before anyone will bite in a meaningful way. After all that's also what they are having to do at Alkaid even with all it's advantages.

To date they have proved OIIP, that it is moveable but have not proved it's a commercially extractable accumulation.

No one will pay top dollar for what is still essentially an explo play albeit de-risked.

[hiddendepths] 28/3/2022 09:23

Interesting argument over the weekend.

As I said straight after the RNS - it's all a question of trust. ngms, pro and johnswan don't trust the company - plenty of experienced oilmen and investors do.

Simples!

[brian boru] 28/3/2022 09:19

I differ with you on one point Chris..............why would they not test the UBFF ?

I get it that having to cease operations on the LBFF due to the storm it could possibly result in a blockage at the lower level but reading others view such a maramaris it should not stop operations further up the pipe ?

[twisle] 28/3/2022 09:19

Chris0805,
You may well be right that there is no further testing at Theta West this year, but last week’s RNS did actually state “with a possibility that testing may resume if the conditions improve before the conclusion of the Arctic operating season.”

[chris0805] 28/3/2022 09:03

On reading the RNS just after 7am on Thursday my impression was that there will be no more testing this season. Other industry posters on here & social media have since suggested that if the well was closed in for the storm, with large amounts of frack fluid in the well then it is likely blocked (same as at Talitha). Personal view for me now is the same as Thursday morning... there will be no more testing this winter season. Next events will be the Webinar then Alkaid 2H drill and production testLooking forward to the Webinar to see what information has been gleaned from the winter operations, in particular the SFS as there's so little been shared on this prospect as yet