Pantheon Resources Share Discussion Threads

[davidblack] 09/4/2020 19:33

Scot my comments were not really for you but others who had not seen any pictures of that river. It’s absolutely huge and when the snow melts it must be a torrent.

[scot126] 09/4/2020 18:14

Thank you Davidblack. I'm very well aware of all the facts contained in your post #155 and, as I'm sure you'll recall, I've posted about the land east of the Dalton on the old thread. My correction of the Journal article stands. GLA

[davidblack] 09/4/2020 17:39

Scott there is ground east of the Dalton but for now it’s of no interest because of the huge river that would have to be bridged if there is a discovery that can’t be delivered by drilling under the road from Alkaid or Talitha. It’s one of the little things that Bill Armstrong forgets your mention when he is promoting his new ground east of the Dalton. Here is a little thought, Conoco are not deploying there new mega drill named “The Beast” perhaps they might like to take it on a test drive at Alkaid? Just joking!

[beanlade] 09/4/2020 17:16

In the blue at last :) 88e and the chinavirus taught me a lesson, oil and gas....no thanks. Sold 30k and 21k today but they showed as buys, wierd....the future is greeen lol. Eh Mick.

[scot126] 09/4/2020 16:44

Dear All - please see below the full article in the Alaska Journal of Commerce. Looking at the macros, we have OPEC++ meeting this afternoon. As for PANR, we have an article in the Alaskan Journal of Commerce which clearly involved an interview with JC and BR *and* Malcy's write up on his blog today. Combine all of the above with the news that Oil Search has raised US$700m by issuing new equity and it seems to me that there's a discernible quickening of pace going on around PANR. I would be inclined not to ignore this notable confluence of events because there are just too many coincidences IMO. GLA "New data, old well add up to major North Slope find" By: Elwood Brehmer Alaska Journal of Commerce Post date: Wed, 04/08/2020 - 8:48am With one unique North Slope oil discovery already in hand, a small group of explorers claims to have found another prospect on par with one of the state’s largest oil fields that is worth developing even at near rock-bottom prices. Leaders of London-based Pantheon Resources said in an interview with the Journal that a modern evaluation of an old exploration well along with information gleaned from recent nearby drilling gives them the confidence to say they have a roughly 1.8 billion-barrel discovery south of Prudhoe Bay along the Dalton Highway and Trans-Alaska Pipeline System corridor. Pantheon CEO Jay Cheatham said the prospect, dubbed Talitha, could ultimately produce approximately 500 million barrels of oil with peak production nearing 90,000 barrels per day, which would make it comparable to ConocoPhillips’; large Alpine field to the northwest. If the resource estimates prove out, Talitha would be the latest in a series of big North Slope oil discoveries over roughly the past five years, which has led many within the industry to conclude there is a “renaissance” occurring in what was once the country’s premier oil basin. However, while the economics of large North Slope prospects are routinely challenged by remote locations and a lack of infrastructure, Talitha and Pantheon’s nearby Greater Alkaid project avoid those multibillion-dollar hurdles, according to Cheatham. ConocoPhillips and Oil Search, two of the companies advancing major new North Slope oil projects, recently announced a collective $270 million pullback of previously forecasted investments. “We are so advantaged because of our location — being able to be right there along the Dalton Highway,” Cheatham said. The company has estimated the Greater Alkaid prospect, which is believed to hold 76 million barrels of recoverable oil, could produce up to 30,000 barrels per day. The Alkaid-1 well was drilled in 2015 by Anchorage-based Great Bear Petroleum, Pantheon’s predecessor firm on the project. It is just east of the Dalton and about 20 miles south of Prudhoe. Pantheon bought Great Bear and its roughly 200,000 acres of North Slope leases in January 2019. Results from the Pipeline State-1 exploration well drilled by Arco in 1988 also helped form the basis of geologic data that led Pantheon leaders to conclude they have a very large resource. The Pipeline State well is also just east of the haul road and about 6 miles south of the Alkaid prospect. Pantheon Technical Director Rob Rosenthal, a founding member of Great Bear, said the well data from Greater Alkaid was combined with the old Pipeline State well test results and data from a modern 3D seismic shoot of the whole area to give a better picture of what lies beneath. “It’s essentially in the same rocks, in the same stuff, in the same play,” as the Alkaid well, Rosenthal said of the Talitha prospect. He added that even though the 10,000-foot vertical Pipeline State-1 well has a roughly 2,200-foot oil-bearing column over four reservoirs, with the technology and oil prices of the late 1980s it did not add up to a viable prospect at the time. “There would have been no call back at $10 oil to go out and shoot 300-400 square miles of 3D (seismic), but today with the drilling technology, the completion technology, we can make this commercial,” Rosenthal said. Pantheon is so far focusing on the shallowest reservoir. Cheatham stressed the “dual advantage” that being adjacent to the haul road and TAPS provides the company. First, it allows Pantheon to avoid the massive up front costs of installing miles of remote gravel roads, drilling pads and pipelines and the corresponding multi-year environmental reviews that North Slope operators routinely face. It also makes it much easier for Pantheon to produce oil — and cash flow — early to help support full development of Talitha. “It’s not like you’ve got to put in your whole facility. We can get (the wells) online virtually as we drill them,” Cheatham said. Rosenthal added that the location also allows Pantheon to work year-round, while other companies are forced to limit appraisal drilling and early project development to the ice road season. It all adds up to projects that are viable at oil prices in the $30 per barrel range, according to Cheatham. The price for Alaska North Slope crude hovered near $30 per barrel in the second week of April as Saudis and Russian officials worked to end their production and price war that added downward pressure to oil markets already flooded with supply after the severe COVID-19-induced drop in demand started a month ago. Full development is currently envisioned as about 170 wells split roughly evenly between water injectors and producers, a high-level plan similar to what was used to develop Alpine, he said. Company leaders are hopeful development could begin in 2022 or 2023 if the global pandemic and subsequent economic shutdown do not persist for many months. Cheatham and Rosenthal told the Journal in January that they planned to drill one or two more wells this year around Alkaid-1 and initiate a long-term production test, but that work is on hold at least until travel restrictions ease. They acknowledged that Pantheon will need to find a partner to help finance large-scale development and that is challenged right now as well. However, when Pantheon begins in earnest its search for financing for its projects, Rosenthal said he does not believe the company will be hampered by the decisions numerous investment banks have made in recent months to stop funding Arctic oil developments because Greater Alkaid and Talitha aren’t in sensitive or otherwise controversial areas. “When they say ‘Arctic’ they mean offshore or ANWR or things like that,” Rosenthal said. “I don’t think there’s necessarily a blanket ‘we’re not going to fund anything in Alaska,’ but it’s up to us to send out a positive message about what we’re doing.” Cheatham said the project economics — and again, location along existing infrastructure — will be the ultimate deciding factor in whether or not Pantheon gets the money it needs for its work. “We are economic really at prices that are so low that if any large projects get new funding we believe that ours would be right at the top of the list,” Cheatham said. [scot126 correction: I suspect the journo has made a wee mistake when he states Greater Alkaid is east of the Dalton. It does extend beneath the road and TAPS but all the activity thus far and the first few wells in the Development Plan are on the western side of the Dalton. GLA]

[davidblack] 09/4/2020 15:57

Yep but that was a small play

[dodge meister] 09/4/2020 15:56

They said that about AMER...plenty of other examples

[chris0805] 09/4/2020 15:55

Well spotted Denzil, let's hope it was more than a nice lunch!!!

[davidblack] 09/4/2020 15:55

Not possible as the GB holders are nursing big losses at sub £1.

[dodge meister] 09/4/2020 15:53

Why do a farm in with PANR...just buy the company with loose change.

[davidblack] 09/4/2020 15:46

Also their may be a bit of US inspired buying based on the Alaskan newspaper piece yesterday that GG spotted. HTTPS://www.alaskajournal.com/2020-04-08/new-data-old-well-add-major-north-slope-find

[saget] 09/4/2020 15:38

Yes, I think today's share price move may be testament to that...

[michaelsadvfn] 09/4/2020 15:31

Whatever you think of Malcy it’s good publicity.

[davidblack] 09/4/2020 15:27

Actually much more likely he needs a winner desperately. Comments like Pantheon could be a 50 bagger suggest he is hungry for at least one successful company in his list. Let’s hope Pantheon make that suggestion a conservative estimate.

[banksy] 09/4/2020 15:24

He must have been well fed

[sporazene2] 09/4/2020 15:20

nice write up, so first the Alaska journal and now Malcy....

[banksy] 09/4/2020 15:08

Potentially a 20 - 50 bagger ... I like that!!

[denzil1234] 09/4/2020 14:54

Malcy just posted a great write up! hxxps://www.malcysblog.com/2020/04/oil-price-chariot-igas-pantheon/

[sporazene2] 09/4/2020 14:20

I hope you're right sttg but it would need a decent slew of unanswered larger than average buys to take that out, the next Talitha upgrade would definitely do it. i'll also take the opportunity to clarify that i was looking at the hourly not daily chart when I quoted a nice gradual upward trend in my previous post

[senttothegallows] 09/4/2020 14:05

MM's are short of stock quoting above the offer at present might smash through 15p 1.2m isn't many IMHO it is less than 1 days normal trading volume.

[sporazene2] 09/4/2020 14:02

STTG; yes there is definitely a nice gradual upward trend forming; where is stumpy who was predicting 8.5p:) A note of caution there is currently 1.2m sitting on the ask at 15p so assuming it stays there that might prove to be the short term limit of the rise

[senttothegallows] 09/4/2020 13:20

Nice Find GG Pantheon will be on everyone's radar in Alaska. This is the perfect place for our story as Alaska oil people all read this journal. I think the time for investing at these give a way prices is very short. Pressure is building nicely and the clock is ticking big bounce on the way.

[davidblack] 09/4/2020 13:18

GG’s url in clickable format Article dated 8th April so maybe there is life post Covid19? HTTPS://www.alaskajournal.com/2020-04-08/new-data-old-well-add-major-north-slope-find

[redhill9] 09/4/2020 11:21

Davidblack, excellent post - you should send those thoughts to the companies mentioned!