Pantheon Resources Share Discussion Threads

[chris0805] 25/3/2024 12:09

Alternatively some posts are always negative.... Slagging off the companies actions, the PANR BOD, also trusted global industry specialists that are contracted to Pantheon. Reading their constant doom and gloom posts is at best light entertainment as even they must know that no one takes them seriously.... It often seems like they are one poster using different aliases too.... Strange that.

[helpfull] 25/3/2024 11:35

Cor blimey, guv!

"Target run rate"

So the three wells don't produce anything like 20,000 bpd.

And might be producing 2,000 bpd by the end of the year.

Now where is that vendor finance?

Wasn't that a target also?

Be careful

[forwood] 25/3/2024 10:38

That's because you haven't done your homework, eg listening to the AGM webinar presentations or viewing the website at . Also helps to reference who/where you're quoting from.

From the website:

'The plan targets FID (final investment decision) by the end of 2025 with first production to follow in 2026 subject to regulatory consents. Estimated costs to first production are conservatively estimated at $120 million, based on:
$20 million for the hot tap
$20 million for facilities upgrade (including preparing Alkaid-2 for injection service)
$60 million for the first three production wells
$20 million for three years of corporate G&A'

From an IP30 of 4000 bpd each, the first 3 wells are estimated to each produce 2000 bpd over the first year. The income from those will allow further development of wells so that by the end of 4th qtr 2026, the target run rate is 20,000 bpd.

[helpfull] 25/3/2024 09:18

Cor blimey, guv!

"Funding of $120 million is required to get three production wells drilled and producing by about Q3/Q4 2026 with about 20,000 brls per day"

It is a little worrying that someone will write such twaddle.

It is a concern that no one questioned it.

Lost me on the first sentence.

Be careful.

[mlf51] 25/3/2024 07:24

It will come when they are ready

[sirmark] 25/3/2024 07:07

A few more days to go !

[sirmark] 25/3/2024 07:05

88 Energy Limited (ASX:88E, AIM:88E, OTC:EEENF) (88 Energy or the Company) is pleased to provide the following update on its ongoing flow testing operations at the Hickory-1 well within its Project Phoenix acreage located on the North Slope of Alaska:· Upper SFS (USFS) flow testing operations at the Hickory-1 discovery well are nearing completion. · Results are to be announced once the flow back programme is completed and results analysed, which is anticipated to be at the end of this week.· Activities leading up to fracking the USFS zone took longer than initially estimated, in part due to weather conditions, however, flow back from the USFS reservoir will conclude in the coming days following collection of all key data and samples.· The flow testing programme for the shallower SMD-B reservoir is scheduled to begin immediately after the flow back of the Upper SFS reservoir is complete and is expected to last around 14 days. As with the USFS test, the length of the program may be adjusted depending on operational conditions.· The program remains fully funded, with only marginal increases in duration and forecast costs within budgeted contingency.· Completion of operations and demobilisation from site is now expected around mid-April.

[responsible investor] 23/3/2024 17:35

A SUMMARY.

Funding of $120 million is required to get three production wells drilled generating income for further well development, and by end Dec 2026 producing about 20,000 brls per day. The funding is required: $20 million x 3 plus $20 million for G&A, $20 million for the Hot Tap (approval Q2/3 2025 and $20 million for facilities upgrade. It is reasonable to think that supplier credits should be available for the drilling costs with the rest being from other sources. Progress on funding expected in early April 2024 and conditional agreement by June 2024.

NSA will report on Kodiak resource plus on the 66,000 acres recently “acquired" which should be legally completed in Q3 24. Jay C in the interview earlier this week was confident that the report would result in “…a very, very significant upgrade…”; - which, for Kodiak, NSA had previously given a resource at about 962 mill of 2C marketable liquids. The added resource from the 66,240 new acres - Kodiak (43,200 acres) and Ahpun (23,040 acres) (with highest quality at the shallowest depths) is likely to be > 500 million brls. The NSA report should be available within the next two weeks.

US listing by mid 2025 which will probably entail new shares to be issued to US investors - >$100 million at, say, $1.00 per share. This will mean that the company will have sufficient cash inc cash flow, particularly as pay back period on drilling CAPEX should <12 months.

Provided the first phase of Ahpun production (FID is expected by Q4 2025) is achieved there will be adequate cash flow including that as above to proceed into the second phase of Ahpun production (25 production wells) in Q2 2027 with about 50,000 brls per day by mid 2028.

Production costs are likely to be in the range $35-$40 per brl.

Kodiak FID in Q1 2028 with Kodiak production in Q4 2029 at >100,000 bpd.

Current Ahpun resource: c.500 mill brls
Ahpun extra 23,040 acres leases: c 250 million
Kodiak resource: 963 mill
Kodiak extra 43,200 acres: c 250 million

+“…very, very significant upgrades…̶1;: 500 million brls

TOTAL: 2,463 MILLION BRLS OF WHICH 750 BRLS MILL ON AHPUN WHICH WILL BE IN PRODUCTION BY END 2026.

The company’s objective is to achieve a valuation of $5-10 per brl for its recoverable resources. It seems logical that this valuation range should be applicable to the Ahpun resource not later than Q3 26 when oil flow will have commenced especially as the oil will pass through the completed Hot Tap literally on the adjacent TAPS pipeline. The value of Ahpun should easily meet the $5-10 per brl objective Q3 2026 if not before.

The initial $120 million financing is critical with the most salient point for us LTHs being the share price on the key dates.

[sirmark] 23/3/2024 13:33

Yep listened, I'm not suggesting we're getting money transferred as that was clear but finance news it what I'm referring to. Exciting times ahead.