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[bodroll] 01/4/2023 15:34

Thanks Pro: 32462 edited

[pro_s2009] 01/4/2023 13:04

Bodroll, yes indeed. The figures are dollars, not pounds though.

If we take the more positive view and say they have 10.8m dollars of "free cash" at 30th March 2023.....even then we do not know what was paid on 31st March, so the figure is just a snapshot at that time.

Being banded around is a figure of 5m dollars to test the SMD at Alkaid-2. They will also want to secure long lead time items for the 23/24 Winter drilling......so you can see why they want to secure funding of some sort by end of June 2023.

Its now April, and so with 12 weeks to go before end of June "target".......and with the Data room not yet open.....things are getting a little tight on the timeline imo.

Going to be an interesting 12 weeks ahead.

[pro_s2009] 01/4/2023 12:21

olderwiser, the earlier post was related to the RNS from PANR where they said they had "cash" of 10m dollars at March 30th There is no consolidated statement to go with that comment, so one assumes (like you do with your graph being hourly) that this is just cash and not including the payables of 6m dollars.

When you assume things, they can be right or wrong, which is why clarity is better, not assumptions. They said

Cash on hand 30 March 2023: $10.8 million


So, if you had cash of 10.8m dollars March 30th and payables yet to pay of 6m dollars, you would have free cash of 4.8m dollars.......is that not correct ?

Or you could assume that the cash on hand includes payables and receivables meaning that they had as of 30th March, 10.8 million dollars.

[padamster] 01/4/2023 11:17

Pro - you are not credible and your performance to date has been unbelievable embarrassing. Put the spade down and take up crown green bowling. You are coming across desperate.

[bodroll] 01/4/2023 11:03

My take on the cash is that, at March 2023 cash was over $10m. I cannot see what the payables was at that date. The $6m payables is at December 2022 so we don’t know what the free cash is at March. Also, at December, if you deduct the payables you have to add the receivables of $3m.

[olderwiser2] 01/4/2023 10:31

Pro_S2009

Now you have been caught red handed in a deliberate lie. You know full well you were spreading alarm with an invented cash crisis, then denied it was PANR related (when queried) in post 32457

Yet there it is clear as day in post 32414. As a once again proven liar, what a disgrace you are to your down ramping agenda. You have to maintain credibility if you want people to believe your lies, Pay master dock Pros pay

Post 32457
(6m ? I posted a simple statement that if you had 10m cash and 6m payables you have free cash of 4m - its unrelated to PANR)



Post 32414
Notice they dont talk about unrestricted cash..........just "cash".

Of course.........you have to pay your bills......and "payables" looks to be about 6 million.

So if you take cash of 10m and then deduct payables of 6m it leaves what, 4m of free cash...... unrestricted ?

Thats my take on a quick glance at the itnerims, but perhaps I am wrong ??!!

Did they not need 5m to do Alkaid SMD test.......Mmmmmmmmmmm

Can see why they must do something before end of June aka in the 1st half of 2023.

[madd_rip] 01/4/2023 08:51

Like a glitter poo from a unicorn

[olderwiser2] 01/4/2023 07:33

Because it is blindingly obvious perhaps, backed up with a cross check from other data , if you feel the need to question the obvious

So the 6m is just a number plucked from thin air to create a false alarm it seems

[pro_s2009] 01/4/2023 07:27

So why do you tink they failed to put "hours" or any definition of timescale agains the graph used on page 32 of the presentation you refer to. Hours is of course your assumption of what it is.

We dont know if the scale is 1:1 or perhaps 1:2 or 1:4......its just undefined.

I mean........its basic stuff to put on a graph is it not ?

[pro_s2009] 01/4/2023 07:24

Is it hours ? I dont know.......without a specific detail on the graph, its meaningless.

Its is your assumption its hours.........but it is not stated as so.


(6m ? I posted a simple statement that if you had 10m cash and 6m payables you have free cash of 4m - its unrelated to PANR)

[olderwiser2] 01/4/2023 07:04

Hours, its not hard to work out.

Don't forget the question on the source of the $6m you posted

[pro_s2009] 01/4/2023 06:54

Page 32.......what scale is that ?

Days ? Weeks ? Months ? Periods of 5 hours ? Periods of 10 hours ? I see a graph but with little detail on it. Why did they miss off the detail ?

[olderwiser2] 01/4/2023 05:02

Page 32 has the definitive graph flow against time in the flowback stage
hxxps://www.pantheonresources.com/investors/presentations/666-investor-presentation-april-2022/file

Can you answer the other 3 questions ?

[pro_s2009] 01/4/2023 04:36

I was only looking at this RNS for Talitha SMD...which was very vague.



........... The SMD is the shallowest and thus the final zone to test in the Talitha #A well bore. The well was perforated in the SMD from 6,965 ft to 6,975 ft and was successfully fracture stimulated. Immediately after the fracture stimulation, the test was suspended by a blizzard on the North Slope which shut down all operations for health and safety reasons. Flow testing operations resumed three days later.

Once flow testing commenced and before the well stopped flowing after a short period of time, only 45% of the fracture fluid was produced, with no formation water and small amounts of light high quality 34 degree API oil. Other than the small amounts of oil, no reservoir fluids were produced. The consensus among the Company and external consultants is that there is a blockage preventing any additional reservoir fluid from entering the well bore. Based on all the data, which includes a full suite of logs, sidewall cores, extensive Volatiles Analysis Service ("VAS") work undertaken by AHS/Baker Hughes over the past 12 months, and the testing of the lower zones this year, the Company's expectation for the SMD is that it should produce better than the two lower zones already tested; the Basin Floor Fan ("BFF") and Slope Fan System ("SFS") horizons, where the Company achieved excellent results. ...........

[olderwiser2] 01/4/2023 03:45

Pro_S2009 32451

I am intrigued, where did you pluck the 6 million figure from

The SMD did flow ~800 barrels of combined fluids in the first 24 hours, prior to blocking up. Note the target for success in the vertical frack was 50 to 80 bopd
Also worth noting the SMDB is superior in reservoir properties to the Alkaid anomaly

PANR have the luxury of testing the SMDB for as long as required, as it sits on an all season gravel pad, with their own production testing facilities already installed.

There is no history of fudging testing results by quoting extrapolations of short tests into daily results. Where did you create that idea from

[pro_s2009] 01/4/2023 01:48

If you have 10 million, but you owe people 6 million.......you actually only have 4 million "free cash"

The SMD has already been tested at Talitha - and blocked up - dont forget that...........

How long will the SMD be tested for at Alkaid-2 ? Anyone asked that question ?

If I were a shareholder in PANR I would be asking for full transparency !!!

No "it flowed at rates of 1000bopd per day" - based on the hidden reality it flowed at 0.7 barrels a minute for 1 minute and extrapolating that 1 minute into a day its 1000 bopd rate.

Tell the shareholders exactly how long it flowed for (how many hours/days or minutes) and give the figures tranparantly.........NO EXTRAPOLATED BS.

[helpfull] 31/3/2023 18:48

Cor blimey, guv!

"Can someone point me in the direction of some intelligent discussion?"

Good grief! What is it with these guild members? They form a secret club so they can have intelligent discussion twixt themselves and then spend most of the time whingeing on the boards allocated to us plebs. Get back into your hutch. I'm sure someone is in the guild now ready to dote on your every word.

Be careful.