Pantheon Resources Share Discussion Threads

[helpfull] 23/3/2023 13:55

Cor blimey, guv!

"Future operations at Alkaid will now focus on moving up the well bore and testing the shallower Shelf Margin Deltaic ("SMD") zone in the shallower vertical section of the well bore after plugging the Alkaid zone of interest (ZOI) reservoir"

Love to explain.

It means after the fiasco of Alkaid 2 in which the failure of a 5,300ft horizontal was shown to produce only 180 bopd (before inevitable declines), any future operations at Alkaid, if the company eventually decides how it can move on from here, will be at shallower levels or up pipe in the SMD, which is located in the vertical section of the well bore. The vertical section of the well which comes before the horizontal. By necessity the Alkaid zone of interest would have to be plugged.

It does not mean that the company intends to do this. That is why "future" is used. It may or may not. There is no commitment. It is just conjecture on the part of the company because no decision has been made.

Be careful.

[just one more try] 23/3/2023 13:34

Pro

The facts say that it probably is..... Of course, that goes against your short.....

[forwood] 23/3/2023 13:26

Probly defy the science now and do a horizontal! Oop no they can't, because it's physically not possible without driliing a new hole. They'd do that wooden' they, spend 10s of $millions, rather than $3.5 to 5m. Anything to keep the shorts happy!

Short logic: argue everything, even it's really stupid!

[probabilityofsuccess] 23/3/2023 13:15

It’s alright rabito, the rate Helpfull is digging that hole, they’ll be able to do their own vertical test soon!

[pro_s2009] 23/3/2023 13:14

Item 2 needs to be changed, as below.


1) Is there huge volumes of Oil... That is a definite yes.
2) Can it be commecially retrieved. That appears to be a NO so far - not yet proven
3) Is there uncertainites about money and ht enext step - farm in etc - that is a yes.

[just one more try] 23/3/2023 13:06

I think that the belief that when working in the Artic, 8000 ft underground. That everything will go perfectlly, no equipment failure, nothign ever happens only success... Is optomistic.

There will be problems, we have had problems. The question is
1) Is there huge volumes of Oil... That is a definite yes.
2) Can it be commecially retrieved. That appears to be a yes.
3) Is there uncertainites about money and ht enext step - farm in etc - that is a yes.

However ucurrently the oil in place is being value at 10p a barrel. Where fore instance a commercial field it will be about 30 times higher.... The standard reference seems to the nearby field in sold in about 2017 for $3.10 a barrel - with lower oil prices at that time.

over-promised and under-delivered............. It would be nice to live in a world where everthing is easy and guaranteed... However if you want to take a chance at increasing your money by multiples. This is a company worth considering.

[helpfull] 23/3/2023 12:54

Cor blimey, guv!

"Future operations at Alkaid will now focus on moving up the well bore and testing the shallower Shelf Margin Deltaic ("SMD") zone in the shallower vertical section of the well bore after plugging the Alkaid zone of interest (ZOI) reservoir"

It is a simple question.

Where does this statement say there will be a "vertical" test of the SMD zone?

Be careful.

[probabilityofsuccess] 23/3/2023 12:45

Go on then Helpfull, I’ll play along! As well as addressing your misunderstanding of the written word though, I think you may need to do some research around drilling operations.

To help you, I’ll bracket some words which they’ve included in the RNS to provide insight, but aren’t [absolutely] necessary to determine the actual testing approach

“……;..testing the [shallower] Shelf Margin Deltaic ("SMD") zone in the [shallower] vertical section of the well bore”

What you need to do is read out loud the words that are not in brackets (whilst recording yourself - with sound, not just video!), then play it back AND LISTEN.

So, what you’ll hear yourself saying is “testing the Shelf Margin Deltaic zone in the vertical section of the well bore”

Let’s take it a step further. If you remove the words “Shelf Margin Deltaic zone in the”, you come up with the sentence:

“testing the vertical section of the well bore”

another way of writing all of this is:

“A vertical test of the SMD zone” (your words).

I really hope this helps your understanding Helpfull, because that’s what these forums are all about (as you have kindly been trying to do with your charting analysis). If you’re still struggling, then there are courses out there that could help. If you do understand (but don’t want to be seen to), then there’s not a lot else you can do other than stop digging.

All said and done, wouldn’t it be great if they decided to test the [shallower] SMD at some point in the future using a lateral [in another well [bore]]

[forwood] 23/3/2023 12:27

So tiresome, canthelpit deceiving again: 'only 180 bopd was produced'. In fact,IP30 >500 boe of sellable hydrocarbons, from a gas capped drill, which measn without the gas cap, it would be significantly more. We know the well disappointed - and the share price has really been slammed down 75% as a result, but 500 boe is commercially worthwhile. The fall is completely overdone!

[chris0805] 23/3/2023 12:19

Post of the Year to date, marto1000... :-)

[helpfull] 23/3/2023 11:10

Cor blimey, guv!

"Future operations at Alkaid will now focus on moving up the well bore and testing the shallower Shelf Margin Deltaic ("SMD") zone in the shallower vertical section of the well bore after plugging the Alkaid zone of interest (ZOI) reservoir"

Where does this statement say there will be a "vertical" test of the SMD zone?

Be careful.

[probabilityofsuccess] 23/3/2023 10:26

Marto - spot on!

You reread the RNS yet Helpfull? Now do you understand the words that were written confirming they’ll be “TESTING the VERTICAL WELL BORE”?

If you struggle to initially understand the written word (and then argue the toss about it because you can’t admit to being wrong), I’d suggest you need to try to build trust with readers before they consider your judgement on anything else (because you may be wrong again and not be prepared to admit it?).

Be careful!

[helpfull] 23/3/2023 08:47

Cor blimey, guv!

About 3 weeks and the bearish, ascending flag is finally forming up. With the four week moving average still descending to the base of the flag. The third flag in the past six months? There is plenty of warning. It may take weeks to work itself out:


free stock charts from uk.advfn.com


Be careful.