Pantheon Resources Share Discussion Threads

[sandcrab2] 15/3/2022 09:42

Weakness in oil price
Apparently also hedge funds have reduced their longs to rebalance

[forwood] 15/3/2022 09:33

Are we sure that this drop is simply bondholders selling stock? It is remarkably close to the 104 low following the Talitha 'mishap'

[pro_s2009] 15/3/2022 08:27

I would say Monday 21st earliest for the lower zone.

Should be some news at some time next week.

[sandcrab2] 15/3/2022 08:23

That is certainly Marmaris’ opinion

[brian boru] 15/3/2022 08:19

Temp is currently -30c on the north slope so plenty of time to test both upper and lower zones at TW.My guess is that we get the first result approx ten days after testing commenced so fingers xxxxxxx'd later this week?

[cezuan] 15/3/2022 08:12

I agree, sirmark, the dilution/debt should have been "priced in" by the drop from Nov to Jan that immediately followed the financing notice.

[sirmark] 15/3/2022 08:08

It’s just paying down debt, it’s basically a zero sum game off the balance sheet into shares.

Now we have paid back nearly $5mln ….. without the bond monies we wouldn’t be where we are now with 3 possibly 4 drills turning in 2022 as apposed to 1 last season.

Possibly 1.4-2.2bln barrels off recoverable excellent grade oil, in a safe haven and with oil over $100 a barrel ....am I missing something???

[ngms27] 15/3/2022 07:58

Dilution is never nice.

[chris0805] 15/3/2022 07:57

Indeed... seems to work out to ~83p??? Or have I missed something??

[soggy] 15/3/2022 07:54

I take it everybody has read the RNS about the issue of new equity: 3,080,798. Not too deadly, and that's it over for this quarter so let the good times roll!

[bobbiedazzler] 14/3/2022 23:49

Thanks. Really helpful

[just one more try] 14/3/2022 23:18

I have 20K more.....

[sogoesit] 14/3/2022 22:23

Unitization is the key word you are looking for, post 24229.

Section 31-05-110 of the Alaska Oil & Gas Conservation Act applies.



If a reservoir (pool) extends into unleased acreage it would likely be the case that the discoverer would apply to lease any contiguous acreage that contains part of the discovered pool unless there is “blue water” between any mapped structures/pools.

In general Unitization is arrived at through a process of negotiation between pool owners.

[flangold] 14/3/2022 21:09

Whoever pumps it out the ground first gets the spoils.

[bobbiedazzler] 14/3/2022 20:04

Any oil lawyers here? What happens in Alaska if the BFF or SMD extends into unleased acreage? Does the state take a share of the reservoir? And how does the split work if another leaseholder - like 88e - owns leases where the reservoir extends?

[chris0805] 14/3/2022 18:43

That was also my understanding.. 78p each conversion... Hence the stories of the much maligned 78p cap.... That line in the RNS is somewhat confusing in this case.. the only variable should be the USD > GBP forex rate??

[scot126] 14/3/2022 18:42

Plus, redhill9, there was always the theoretical possibility the share price could have dropped to, say, 1p today if a nuclear bomb was dropped in Deadhorse. Advisors *always* tell corporates to wait until the maths is definitive so it doesn't have to be corrected or re-stated. NOMADs *hate* re-stating an RNS to incorporate a factual correction. Rightly or wrongly, they see it as a professional and personal failure. Would that....lol.

[probabilityofsuccess] 14/3/2022 18:35

Exchange rate?

[redhill9] 14/3/2022 18:19

dhb368, I believe the same, that shares will be converted at 78p, but I was confused by this extract from the 9 March RNS announcement:

Where paid in shares, the precise quantum of shares will be calculated a specified number of days after an election is made, in this case on 14th March 2022.... ,

If the conversion price is 78p and they know the amount of interest in advance, why don't they know the precise number of shares already - am I being thick and missing something?

[dhb368] 14/3/2022 18:02

POS, was being mischievous as I believe the conversion price will be 78p.

I do not remember seeing any mechanism for the price to be adjusted above that level but I expect we will know in the morning.

[forwood] 14/3/2022 17:10

I have 60k more than I had yesterday.

[rideacockhorse] 14/3/2022 16:40

I have slightly more shares than you think I have but not as many as I've said I have.

[probabilityofsuccess] 14/3/2022 16:32

You cynic dhb 🤣