Pantheon Resources Share Discussion Threads

[forwood] 26/9/2022 07:59

Great RNS, reassuring technical competence in a successful frac and everything on track for the flow test; confirming expectations of better than previously expected flows; flagging transition to production; and steps taken to provide yet more external validation of the resource findings.

[poohbear1] 26/9/2022 07:36

Key line from RNS: ' facilities which were recently increased in capacity in order to handle potential additional production'

[marto1000] 26/9/2022 07:34

Sorry Truant2tbYou're wrong on all accounts!!Simple DD can figure that outI'm 100% correct, and if you have any issues ring Hali themselves!! Re Farm Out...they had an offer...very big but didn't complete..for reasons.And TBH I'm glad..because shareholders still retain 100%We know you are short...that's fine...I wouldn't think a large amount because you can't get too much borrow..so you're just a small little trader which is fine I guess.....pls stay short into flow data end month...see how you go.. but I expect...you'll vanish quickly

[bit coin] 26/9/2022 07:13

Excellent RNS, just watch those shorts scream!!

[mlf51] 26/9/2022 06:31

He's got lonely over there talking to himself.

[sirmark] 26/9/2022 01:28

I'm expecting a strong bounce today, back to the £1.05 and later back to the £1.15+ range as we get closer to perforating and then hopefully releasing and upgrading resource.

[adxwasere] 26/9/2022 00:54

you've come to the wrong bb.

[adxwasere] 26/9/2022 00:52

What are you talking about? I'm not going to waste my breath.

[forwood] 26/9/2022 00:22

Truant, only a complete idiot would ignore the work done here over the past few years, validating the company acreage to the point where the extended flow test at Alkaid 2 is likely single-handedly to double the share price inside a month.

The resource was initially validated in Jan 20 by Lee Keeling & Associates, as a Contingent Resource of 76.5 mb recoverable oil. NPV10 per barrel was estimated then at $8.50 with oil at $55 netback. In Jan 2020, the price of Brent was $63.65, so NPV is likely to have grown somewhat, with oil increasing since then by over 35%. This one reservoir - actuallly more than one - more than justifies the current Market Cap on its prevous valuation before it is upgraded to reflect the recent drill findings and flow test, assuming it will be successful.

The reservoir originally drilled in 2015 was cut short by flooding (Dalton Highway area subsequently raised to ensure this doesn't happen again), but was estimated to contain 90 - 135 MMBO technically recoverable. Lee Keeling reduced the amount to ensure a reliable estimate of recoverable. In 2019, Pantheon conducted a vertical flow test on a 6 foot interval (from a c.240 foot interval of net pay) generating 80-100 BOPD light oil (40 degree API), despite weather related problems at the time.

With the original 2015 drill and 2019 flow test cut short, and subsequent work on seismic and at Talitha suggesting a far greater reservoir, along with the position of the reservoir on the Dalton Highway with year round access, the decision to drill again and conduct a long term flow test was a no-brainer. Initial findings from Baker Hughes and wire logging on the new drill reported by the company confirm a much better and more extensive series of reservoirs than previously thought and we are waiting on the official verdict of the resource upgrade flagged, as well as the flow test on the mile long lateral.

Separately, work at Talitha A, with 5 separate oil bearing zones and at the giant Theta West reservoir over the past 2 winters have, despite acknowledged weather related problems, grown the estimated recoverable resource to over 2.3bn barrels of oil, all supported by the independant work of Baker Hughes and Eseis (Roger Young) - both describing finds to date in the extensive acreage as 'world class'.

btw Halliburton did not relinguish their interest in the acreage for nothing but surrendered their 25% working interest in the six leases jointly held with Pantheon, in return for Pantheon accepting full responsibility for all future lease obligations (eg future development projects and costs).

So, if you're suggesting that all the reports to date have been a lie and there is next to nothing here, we can look forward to our directors being fined £ millions and possibly going to prison, and the trashing, if not worse, of the reputations of Baker Hughes, Eseis and Lee Keeling. Or perhaps you should withdraw your smears and innuendos and shove them back from whence they came!

[blackhorse23] 26/9/2022 00:16

Switching to huge liquidity, debt free profitable stocks CURY (LSE). https://www.google.com/amp/s/capital.com/amp/cury-currys-share-price-double

[specialistwasagypsey] 25/9/2022 21:05

Another easy short 👍

Thank you PROtard.

[truant2tb1] 25/9/2022 20:33

marto1000

LOL - where to start with your "facts"!

1) "HALI is a services co and they had just been awarded the prime contractor role at the giant nearby Horseshoe/Pikka project (Repsol/Armstrong/OSH) – so at that point HALI were conflicted...and knew it...so did PANR!
There was ZERO chance that these Co's would allow HALI to have access to all their well data when they were competitors in the region"

What utter nonsense, the idea that Halliburton have conflict of interest because they're a primary contractor elsewhere is bizarre. PANR have rights of lease to the land and aren't in any sort of competition with another local field, oil is sold in a global commodities market!

We're nearly 4 years on the from PANR touting a farm-out and still nothing... why - because there is nothing to farm-out!

Classic!

[adxwasere] 25/9/2022 09:37

Careful Pros long now , he might not like that.

[adxwasere] 25/9/2022 09:01

Lol, Standard.

[mlf51] 25/9/2022 08:48

He's gone long

[adxwasere] 25/9/2022 08:13

Nothing of value to say then.

[pro_s2009] 25/9/2022 01:19

Everyone needs to stop panicing really.

This is a Bear market - welcome to it.

Everyone who has a sensible head on their shoulders has fully paid for stock and does not care if the markets blip down for 6 months or 1 year as they will recover, as they always do.

The trouble is of course - most people are stupid nowadays and think that "tax free" spread betting is the way to go. Of course, thats great in a Bull market, but in a Bear market spread betting is the way to bankruptcy....... it is a fools game and fools and their money.........

Spread betting has been pushed by all and sundry as spread betting creates very volatile markets by creating margin calls, where stock is dumped at any price - leading to bigger falls - and more gains for brokers and their ilk.

Hopefully 2022 will again teach people that spread betting is pure gambling, it is not investing, it is for idiots and idiots pay with their hard earned playing stupid games.

For me, very happily soon to be adding more paid for stock. Paid for stock does not create sleepless nights, paid for stock simply sits there waiting for the Bull to return and the Bear to be banished again.

The initial falls of a Bear market are the worst - as all the margin calls get done. September rollover is done- the aftermath is in place now - and soon stability will return.

I find it most interesting watching markets during this time and the sheer levels of panic posting - the ardent posters who disappear (like scottyswen who will not return until things stabilise and then will claim they were on holiday) - the return of lost posters coming back in an attempt to defend their positions.

Most entertating. End of the day - this is a Bear market now - and until the initial falls are done and things stabilise - get used to it.

Stocks go up and down - read the warning label !!!!!!

[pannikin] 24/9/2022 13:10

We can all make money without attacking those with a different risk profile and trading style.

I have been happy to add at these levels because in USD terms (which is how our assets will be valued) we are actually down around 50% thanks in part to the pound being in free fall.

The macro headwind has been tough but successfully drilling Alkaid2, discovering thicker, better reservoir (porosity and permeability) than expected and likely SMD upgrades, probably deserves more than a -50% return.

The much mentioned $3.10/bbl that Pikka was sold for has gone from £2.30/bbl to £2.80/bbl a free 20% for UK shareholders.