Pantheon Resources Share Discussion Threads

[thebull8] 18/1/2023 21:16

So you are telling me that Halliburton - an oil and gas giant worth $40billion, who according to your own research reported losses of $1.1b in 2019 and $3b in 2020 were so worried about the drilling cost requirements of $80m that they just simply gave them up. Come on mate you cannot be that stupid. You sound a lot more intelligent than the rest on here. Does open up further questions about Pantheon lease obligation costs and requirements thou

[forwood] 18/1/2023 19:22

Bully. here is a fact that you could have uncovered if you'd done some proper research: Halliburton surrendered their 25% working interest in 6 leases jointly held with Pantheon, in return for Pantheon accepting full responsibility for all future lease obligations (ie H's responsibilities for future development projects and costs).

I don't know what the development plan was for those particular leases at the time (2019),if any, but 4 of them cover the Alkaid reservoir. A 25% share of the current plan would have cost Halliburton c $80m. At the time, oil was $60 a barrel and Halliburton reported a $1.1 bn loss for 2019, which grew to almost $3bn for 2020. So,I expect a substantial $m contingency would have been carried on the books, and H would have been very keen to avoid increasing their losses.

Remember also Pantheon held the seismic data and I don't know if they shared it but you cannot assume H knew what the payback might have been. H's 25% lease surrender is a complete straw dog, and easily disposed to anyone with a reasonable understanding of the business.

In total Pantheon now has about 187 leases in the area.

[madd_rip] 18/1/2023 19:12

She did mention something about button mushrooms and premature arrivals when she opened the door. Very disappointed apparently not worth even answering the doorbell it was that quick. Plus didn't know you were into octogenarians. But I suppose being a gimp it takes all sorts.

[thebull8] 18/1/2023 19:06

Less than an hour? Have been posting for weeks

[thebull8] 18/1/2023 18:18

If you really wanna know how my head gets through the door...... just ask your mum

[thebull8] 18/1/2023 18:14

I will strive to have a non-exec review my posts going forward to make sure the wording is 100% spot on for your forwood

[thebull8] 18/1/2023 18:12

Potato potatto. You are arguing over the schematics. At the end of the day, Halliburton would not have given up the lease if they thought the lease was worth billions of dollars. If they believed it was worth something, they would have sold it. But they were that unconvinced by it that they actually gave it up for free merely to avoid future costs!

[forwood] 18/1/2023 18:05

More lies - Halliburton didn't 'give up the acarage [sic] for peanuts', it was a small part of the whole and they surrendered a few leases on terms that avoided them having to pay for development at a time when they were losing money.

According to '17 “primary companies” contribute to Alaska's oil and gas industry, which includes production, transportation, and refining activities. These companies include familiar names like BP (which was acquired by Hilcorp), Chevron, ConocoPhillips, ExxonMobil, and Shell.' So, can you tell me please, who are all the oil majors that you claim that pulled out of Alaska?

Arrogance has nothing to do with thinking Pantheon has a 'world class resource' (cf Baker Hughes view) here, where we are only 20 miles away from one of the world's largest ever oil finds.

And yes, obviously I think I know better than the shorts, given that I have several 100,000 shares here. That's a fact!

[madd_rip] 18/1/2023 18:01

That would not work I imagine your ego has inflated it to a sherical shape. Like the Mekon.

[rabito79] 18/1/2023 17:55

I don't think that. I just don't necessarily belief that Halliburton decision wasn't influenced by internal budgets in the midst of the lower for longer oil market narrative and at a time ~8years plus after they signed the initial agreement with Great Bear.

[thebull8] 18/1/2023 17:50

I turn sideways.

[thebull8] 18/1/2023 17:37

Your arrogance stems from thinking Pantheon know better than every oil major that pulled out of Alaska, better than Halliburton who gave up the acarage for peanuts and better than every single short seller

[thebull8] 18/1/2023 17:33

In post 1769 bully said: 'they already tested it and could only get it flowing at like 200bopd'That's not quite true is it? Choked back because of the sand blockage, the RNS said: 'production over more than the last 30 days has averaged over 500 barrels per day of hydrocarbon liquids, of which circa 200 bpd of crude oil and over 300 bpd being condensate and NGLsI mean, that's exactly what I said. You do realise bopd means barrels of OIL per day. I didn't say nothing about condensates and gas

[rabito79] 18/1/2023 17:21

I think your arrogance comes from assuming you understand the complexity of bringing on long horizontal with multi-stage fracs and thinking you can interpret the results based on this extremely limited knowledge and without the full data set.The bear argument is riddled with holes and any data which goes against it is just highlighted as a lie. It actually gives me more confidence in my position. When someone like Alex Stahel is reliant on falsifying documents to link Pantheon to a guy in the Alaskan courts for a failed exploration company opposed to providing a coherent technical analysis it says a lot in my opinion. Likewise the claims of a diesel flair (truant), unsubstantial claims wells can't be drilled over 5000ft (hpcg) and your deliberate dropping of the 300-350 of condensate NGLs again speaks volumes. There are so many other examplesWell done 50% profit, some of us have secured multiples of that even after the recent decline.

[forwood] 18/1/2023 17:21

In post 1769 bully said: 'they already tested it and could only get it flowing at like 200bopd'

That's not quite true is it? Choked back because of the sand blockage, the RNS said: 'production over more than the last 30 days has averaged over 500 barrels per day of hydrocarbon liquids, of which circa 200 bpd of crude oil and over 300 bpd being condensate and NGLs, all of which can be sold'. As at the RNS date they'd sold 7000 barrels of oil, which left a question mark over the >8000 barrels of condensate and NGLs produced. Subsequently they've said 550 boe a day, which is all a bit confusing and questions have been asked about this for the webinar.

So, assuming the workover rig clears the blockage and they can sart testing the full 5300ft without a choke, it is expected that the rate will increase.

I am sure you are aware of this but once again you have chosen to present the findings to date in a negative light - and that's being charitable. It's no wonder shorts come in for so much criticism and opprobrium.

[madd_rip] 18/1/2023 17:10

More arrogance I see. How do you get your enlarged ego head through doors?

[thebull8] 18/1/2023 16:48

Sure I would love if people found my post to be of use. I would love it if I saved a genuinely nice, naive individual from what is to come here. In my experience thou people never listen until it is too late Plus i enjoy being correct and rubbing it into the faces of people like you several months later

[thebull8] 18/1/2023 16:46

I mean it's unlikely because they already tested it and could only get it flowing at like 200bopd. That's not arrogance, it's common sense. Like saying it's unlikely some idiot like yourself would pass GCSE math exam. I mean, sure it could happen, but based on all the evidence so far..... unlikely

[probabilityofsuccess] 18/1/2023 15:39

Hpcg - if you didn’t want to influence, your last post would have simply read:

“PoS - I write on boards for companies I'm short to hear the other side and to understand the rationale of longs. I might have missed something, there might be facts I'm not aware of, perhaps I've misunderstood the accounts, there's hidden value, or some synergy.”

……though you may argue that you do not know you are doing it (though that would surprise me 😉).

[padamster] 18/1/2023 15:33

Hpcg - why do you spend time writing long and utter nonsense posts

[hpcg] 18/1/2023 15:30

PoS - I write on boards for companies I'm short to hear the other side and to understand the rationale of longs. I might have missed something, there might be facts I'm not aware of, perhaps I've misunderstood the accounts, there's hidden value, or some synergy. Thus far I have seen nothing written that gives me pause for thought. I even think a farm out would be taken badly by the market because of the read across valuation to Pantheon's acreage. As such a conventional raise in the market is much more likely. There are a few downside skews, another blockage, water production, a rapid decline curve of one or both of the oil or volatiles, any one of which sees another large leg down.

I don't think I'll influence longs. It's never happened on similar stocks. There is a cohort of investors that only want to hear the evidence that supports their position and they'll never change there mind.

[forwood] 18/1/2023 15:01

You've convinced me Pos!