Pantheon Resources Share Discussion Threads

[mlf51] 16/5/2022 08:50

Bit of a difference in the enthusiasm,WHI view would encourage me to get in,Canaccord view would encourage me to have a nap.

[scot126] 16/5/2022 08:50

Very roughly, Alaska North Slope Crude for West Coast delivery is trading fairly consistently at a premium of $4 to Brent and $6 to WTI.

[scot126] 16/5/2022 08:39

Dear All - please see below first reaction from Canaccord, dated 16/5/22.

"*Pantheon Resources
(PANR, SPEC BUY, TP: 280p, MC: c.£1bn)

Rig Contract for Alkaid#2 well: Pantheon has now formally executed the contract to drill Alkaid#2 using the Nabors drill rig due to spud in July 2022.

There are three objectives. 1) Appraise the shallower Shelf Margin Deltaic formation (estimated recoverable resource 404 mmbbls); 2) Carry out LT test on the primary Alkaid horizon (est. recoverable resource 77 mmbbls); 3) evaluate the extent of the oil column below TD of Alkaid #1.

Preparation of the Alkaid#2 gravel pad will start imminently

The Company will also conduct a webinar today (16/5) at 5pm BST to provide information on horizontal well performance modelling."

[scot126] 16/5/2022 08:36

Dear All - please find below first reaction from WH Ireland, dated 16/5/22.

"Pantheon Resources (PANR) – Corporate – Rig Contracted to Drill Alkaid #2

Market Cap £983.9m Share Price 130p

 Pantheon Resources announced that it has contracted a rig (the Nabors 105AC) to the Alkaid #2 well, which the company indicated is scheduled to spud in July 2022. The company
indicated that if the well is successful, Pantheon Resources will commence a long-term production test and truck and sell the produced oil to a nearby North Slope facility.

 The company indicated the objectives of the well include (from shallowest to deepest) i) to appraise the shallower Shelf Margin Deltaic horizon (which management estimates contains 404 million barrels of contingent resources) ii) to commence a long-term production test of the primary objective Alkaid horizon (which independent expert Lee Keeling & Associates contains 76.5 million barrels of contingent resources), and iii) to evaluate the extent of the oil column within the Alkaid horizon immediately below the total depth of Alkaid #1 (as a reminder, drilling was stopped at the Alkaid #1 due to a surface event).

The company indicated that it will be hosting an investor presentation on Modelling Horizontal Well Performance today (Monday 16 May) at 5:00 pm BST (a recording of which will be made available on the company’s website).

WHI View:
Pantheon’s operational success has greatly exceeded our expectations in 2022, sometimes in surprising ways. In contrast, we actually expect the first news from the
Alkaid well to provide significantly positive newsflow. This is because drilling deeper below the depths of the Alkaid #1 will almost certainly, in our opinion, result in a resource upgrade relative to the estimate of 76.5 million barrels of recoverable 2C resource as determined by Lee Keeling & Associates. 

Big picture, the macro backdrop for oil remains extremely robust. The ease with with Alkaid #2 is expected to be brought onstream highlights the extraordinary advantage of the location of Pantheon Resource’s assets relative to the key infrastructure in Alaska, namely, the Dalton Highway and the Trans Alaska Pipeline System. All in, we expect Pantheon’s exceptionally positive momentum to be maintained through the drilling and testing
of the Alkaid #2 well."

[chris0805] 16/5/2022 08:30

New WH Ireland note is out, sign in to Research Tree to get your copy ;-) GLAC

[gorgeousgeorge01] 16/5/2022 08:04

"He appeared, hmmmm, quite sure of himself on this matter, if other attendees can recall?"

They can indeed recall! 5pm tonight is essential listening.

[mlf51] 16/5/2022 07:50

Hi scott, I was referring to paragraph
iii. To evaluate the extent of the oil column within the Alkaid horizon immediately below the total depth at Alkaid #1. Alkaid #1 was terminated within the oil zone due to flooding of the Dalton Highway at the time. Based on seismic and other analytical analysis, the Company believes the Alkaid horizon's oil zone is substantially thicker than reported to date, offering the potential for additional resource growth.
Hopefully will eventually become reserves.

[scot126] 16/5/2022 07:39

Hi mlf51 - PANR has no reserves currently. We're likely going to have to wait for the outcome of the Long Term Production Test (LTPT) at Alkaid-2 before any of PANR's Contingent or TRR are elevated to reserves status.

In a management presentation in London pre-Covid, Bob stated such data collection would take around 5 months according to my notes from the event. The recent webinar kinda referred to 6 or 7 months duration for the requisite data collection....but you get an idea of the time required from Bob's guidance.

All that said, and as I hope fellow attendees of the last presentation in central London, pre-Covid, will be able to attest, Bob appeared genuinely excited to drill below the Alkaid-1 emergency TD. I remember vividly his undisguised confidence that the Alkaid ZOI ("Alkaid Deep") extended below the Alkaid-1 emergency TD. He appeared, hmmmm, quite sure of himself on this matter, if other attendees can recall?

[mlf51] 16/5/2022 07:27

And they are going deeper in Alkaid 2 as the seismic showed a deeper reservoir = more reserves.

[scot126] 16/5/2022 07:27

Dear All - Nabors rig contracted plus all the regulatory bodies have signed off on Alkaid-2. This is very real progress, the deliverability of which on *state* land should be viewed v's the fraught and overtly political nature of the process on Federal land (see 88E's difficulties with Merlin approvals in the NPRA). There is a very good reason why Jay and Bob are forever ramming this difference down investors' throats. This is all starting to feel very real.

Morning pharmawotsit. Your eagle eyes will likely already have alighted on the language used in today's RNS. Did you notice "in those horizons that flowed oil"? That looks like the numerical differential you picked up on over the weekend? Gross OIP/Recoverable figures v's net (in this case) from reservoirs where flow tests have occurred successfully?

Very much looking forward to this afternoon's presentation. Speaking recently with another shareholder (who himself is a professional in the O&G sector) we agreed PANR 2.0 is offering a degree of transparency and shareholder engagement which is pretty much unparalleled in the AIM E&P space. For commercially sensitive reasons (mostly to do with their lease auction strategy) management had to be a wee bit opaque about the BFF at Theta West in the past. However, since those leases were secured (and even before then to be fair) the quantity and quality of interaction with management via webinars and interviews has been truly outstanding. I definitely appreciate the effort and have learned heaps from PANR management as a result.

Looking forward to 5pm today.

[unlikely2] 16/5/2022 07:19

RNS - rig contracted for Alkaid 2, Nabors 105AC. Still expecting spud in July. All permits received, expect earthworks to begin imminently.

Details of the presentation this evening at 1700.

Volumes as stated previously at 23bn OIP and 2.3bn Recoverable.

[pharmawotsit] 15/5/2022 14:13

 fordtin - Yes, quite possible. Or there may have been further data crunching.

 We'll soon find out.

[fordtin] 15/5/2022 13:54

pharma - my guess is they've added the as yet 'unproven' kuparuk and UBFF to;


"Proven oil and oil quality in 4 reservoirs containing over 23 billion barrels"

page 26


Not price sensitive news because most of us probably mentally added them up as soon as the last upgrade was announced.

[pharmawotsit] 15/5/2022 11:41

 Now I wouldn't presume to steal Pantheon's thunder - but tomorrow could be special.

 We've just had a read of the Share Talk preamble for tomorrow's webinar.

 Here's the relevant passage:


 



 If true, then we're likely due another resource upgrade of around +10%.

 As we've heard oft, including from Jay: "Big oil fields just keep getting bigger !"

[dan de lion] 15/5/2022 11:24

Assuming that Alkaid #2 horizontal drill is a successful producer, they could eventually sit a rig on the pad that has been constructed and drill numerous horizontal wells at a fraction of the cost, per well, of this first well, and also of course at the other pad that will be built for the next Alkaid #3 well.

IMHO

[stargalaxy123] 14/5/2022 18:23

It will be Monday apparently

We will get an RNS or notification by email sharetalk inform me

No need to register

[stargalaxy123] 14/5/2022 18:22

hxxps://www.share-talk.com/pantheon-resources-plc-modelling-performance-from-vertical-to-horizontal-wells-may-2022/

[rideacockhorse] 14/5/2022 16:41

That's great milf. Thank you

[bodroll] 14/5/2022 16:01

Thanks mlf51 for your help

[mlf51] 14/5/2022 15:31

If you can go to the lse site it is posted by Brian1234 on fri @10:40.

[rideacockhorse] 14/5/2022 15:07

Couldn't get hold of an Investors Chronicle today. Anyone kind enough to outline the gist of what it said about Pantheon? Thank you.

[pharmawotsit] 14/5/2022 12:16

 Nice find, HFC123.

 The detail shows a really professional approach - as it should be and needs to be.

 We have long-known that Alaska relies on oil revenues.

 It's nonetheless reassuring to see it laid out in black and white under Findings 5 and 6 on p21 below.

 

 Looking forward to the impending webinar.

 Pharma

[hfc123] 14/5/2022 10:20

Summer plans approved (as expected). Useful.

[fordtin] 14/5/2022 08:44

Quite a few cases of FOMO reported after close yesterday. Isolated cases? or early stages of a pandemic?




 
 
 
 
 
 
 
 
 
 
 
 
 
 




Date
 
Time
 
Trade Price
 
Volume
 
Bid
 
Ask
 
Value
 



 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


13/05/22
 
16:37:10
 
129.93856
 
500,000
 
129.5
 
129.8
 
£649,693
 
O


13/05/22
 
17:55:49
 
130.30800
 
13,472
 
129.5
 
129.8
 
£17,555
 
O


13/05/22
 
16:37:18
 
128.89333
 
300,000
 
129.5
 
129.8
 
£386,680
 
O


13/05/22
 
16:39:49
 
130.00000
 
10,000
 
129.5
 
129.8
 
£13,000
 
O


13/05/22
 
16:36:07
 
130.00000
 
1,500
 
129.5
 
129.8
 
£1,950
 
A


13/05/22
 
16:35:00
 
130.00000
 
239,869
 
129.5
 
129.8
 
£311,830
 
UT

[forwood] 13/5/2022 17:05

The rise will certainly highlight the share. Hopefully there will be some FOMO.