Pantheon Resources Share Discussion Threads

[forwood] 15/2/2022 08:02

I don't know how anyone can say at this stage that the size of the find is smaller than expected. This is one vertical hole in a huge area. Variation in the depth of the oil pay in any one area must be expected, as I am sure that those with geologic experience will confirm. The seismic remains the same. The critical work in establishing flow rates etc is yet to come but to my mind we are now a long way further forward in establishing the success of this winter's drill programme at Theta West. Although there have been difficulties, these do not appear to be hindering the next step, to case the hole and proceed to testing flow. Great stuff!

[padamster] 15/2/2022 08:01

NGMS - once again you wrong. You have sent me 3 over time! You need some form of medical help

[michaelsadvfn] 15/2/2022 07:59

Someone sold 350k @ 124.4 late yesterday. Ouch.

[ngms27] 15/2/2022 07:58

PADAMSTR, you make it sound like I'm bombarding you with PM's. Lets get the facts straight, I sent you a single one, yes one purely to explain how you were getting my post wrong yesterday.

There's no point engaging with you, you're just a tool using your language.

Pasteurised

[networksnail] 15/2/2022 07:58

A nice little update, flow testing soon, GL all

[gozo] 15/2/2022 07:57

As Scott mentions , get the hole cased to protect the prize. Lesson learned from last season.Well done to the team up there.

[bobbiedazzler] 15/2/2022 07:55

As Scot points out, shallower is better. Should improve primary recovery rates

[stockhunters] 15/2/2022 07:54

lifechanging couple weeks ahead

[r88ave] 15/2/2022 07:53

remember they are doing the reservoir area in the shallow part first. So far very good imo.

[sandcrab2] 15/2/2022 07:51

Good summary on Lse

“So they haven't proved the flow yet.(that will come from the flow test when they start it later)
But they have proved that the reservoir is 1000ft across over the 10 miles. Is actually a bit higher than they thought (so more up dip, better) it has better quality as it goes towards theta, and that by far the worse end has 70 bopd with 40-50 at a sustained pressure. So the reservoir is on track to deliver at least 1.2bn barrels.(Maybe more since the worse end of the reservoir had better recovery rates when the flow tested it(not two weeks ago).”

[padamster] 15/2/2022 07:49

NGMS - another tool! And stop private messaging me.

[bobbiedazzler] 15/2/2022 07:49

On Canaccord note, the pay is about 89 per cent of previous estimate. If the reservoir were reduced in line, there is still more than a billion barrels at a very conservative recovery rate. This further derisks the play IMO. Together with the good flow test in the reservoir ten miles away at Talitha and LOWER, this is good news indeed. It would be surprising if the flow test failed to confirm

[sandcrab2] 15/2/2022 07:47

Good that Swan is positive

[ngms27] 15/2/2022 07:47

PADAMSTR, there you go again, attack dog mode, not contributing anything but showing what a keyboard warrior you are.

War, what is it good for...

[overeager] 15/2/2022 07:40

Scot126,
Couldn't agree more. Great result so far. I'm very thankful that they're casing to preserve the integrity of the hole rather than risk open bore operations.

The RNS does remind me of the extremely harsh conditions and we should thank the team for their sterling efforts so far..

[padamster] 15/2/2022 07:39

Johnawan you really are a tool.

[johnswan193] 15/2/2022 07:38

Scot, to be clear, the news should be received positively.

[scot126] 15/2/2022 07:38

Canaccord sales team first pass, dated 15/2/22.

"Theta West-1 drilling result:

Well finds thick hydrocarbon bearing reservoir. Data gathered indicates light oil filled Basin Floor Fan reservoir of about 1,160 feet thickness, and initial assessment points to better reservoir parameters than at Talitha.

The Company is now casing the well ahead of flow test programme. Note out this morning.

Management quoted as being cautiously optimistic. All eyes on the flow rates from the zone but it’s largely oil bearing. I would expect shares to respond well given current oil backdrop and continuing positive newsflow."

[soggy] 15/2/2022 07:37

This has massively de-risked the project. There is nothing on this RNS which IMO should cause anyone tobdoubtbtheir investment or the ultimate success of the venture.They've found oil. Good oil. Plentiful oil. Better than Talitha - and that sent the share price up by 50%.Drilling in the most inhospitable part of the world is never going to be a walk in the park - buyout team did it. And in a couple of weeks we'll get even more results.Let the good times roll!

[scot126] 15/2/2022 07:36

Johnswan - Your self-assured ignorance is nauseating.

Right then, what did we want to see happen at this stage? We wanted the company to tell us that they'd collected sufficient data that it justified moving on to a full flow-testing programme. That's exactly what we're going to get. Brilliant.

Something jumped out at me which I'm delighted to read. The porosity is better at this location, as per the model. Also, if the model's depth assumptions are out a tad, better the horizons are shallower than deeper!!

Lesson from Kuparuk? Preserve the integrity of the well bore. Get it behind pipe and proceed to a full flow testing programme.

Meanwhile, light oil confirmed in an oil column of gargantuan size. Ecstatic.

[marto1000] 15/2/2022 07:36

Great result from Pantheon...exactly what we wanted to see...We have the elephant now...another derisking event....it's getting bigger and better!

[nigoil] 15/2/2022 07:34

Excellent news and start to the day!.... GLA..... :-)

[sirmark] 15/2/2022 07:33

Hhhmmm. :)That's nice to wake up to :)

[john henry] 15/2/2022 07:32

Target depth was reached they are awaiting data from Baker Hughes's for the lower section of the LBFF