Pantheon Resources Share Discussion Threads

[westx] 23/9/2021 07:19

I would love to see that as well but I'm afraid they going the shale route which is a damn shame:(

[doublestexan] 23/9/2021 04:37

Scot126,
ConocoPhillips purchased Concho Resources last October for 9+ billion in Conoco stock and assumed 4billion + of long term debts. Concho, a big player in the Permian basin, fifth largest producer in the basin. Besides the Shell purchase of Permian production recently, a few months ago Conoco purchased 1000 drilling sites in Canada around
their leases with excellent production
Surrounding the acreage.

Would sure like to see ConocoPhillips and Pantheon entertain a get together.

[zeusfurla] 22/9/2021 17:36

We can't know if Farallon have stopped selling for now but there were indications pre-8am that the MM's were raising the bid/offer today. Why? Maybe overall sentiment is up a bit or maybe a heavier Farallon selling day previously means they are sitting back today to let the share price rise a bit.

This is speculation but it is my working assumption - Farallon have not yet reached 117m voting shares held yet - maybe 8m to go? - so another week or 2 before we reach that level - IF that is where they are stopping. A lot can happen in 2 weeks though.

[chris0805] 22/9/2021 16:21

Time for a last & final top up ... perhaps ....

[chris0805] 22/9/2021 16:20

Can he do mine too please?

[john henry] 22/9/2021 16:05

Hoping you are correct however imho they are still active on both the bid and offer

[rich2006] 22/9/2021 16:03

Forwood
Have you a Nigerian broker. 😄

[forwood] 22/9/2021 15:58

My Investec broker made a slight error on my ISA a/c there which is currently showing:

£15,412,207.41

I've told him to close it, transfer the balance to my Swiss bank a/c and send the details c/o my new home in the Bahamas!

I wish!

[the priest] 22/9/2021 15:55

@sirmark - good shout. Quarter 4 is just over a week away so hopefully we can have clarity on how the upcoming drilling and testing will be funded.

[sirmark] 22/9/2021 15:38

Similar thing happened when F halted selling on the 23rd June the share price rose for no apparent reason (at that time) only a few days later did we see the TR1 which showed that was the day they crossed the threshold and only the subsequent time after do we now know that they had stopped... so I am putting it out there that this is the 17% hold and in a few days Friday/Monday well get the TR1 and it will only be after that the non selling of F will become apparent .... that's MY opinion and a few sessions should tell if the share price continues to rally to 70p /80p which would be similar to the rerate form the 30's we could be in for a nice ride and that potential could be the end of the selling from them.

We shall see.

[scot126] 22/9/2021 15:28

hiddendepths - fair enough, understood. I can't work out your motivation for posting the explanation contained in post #17292. In my reply to valueye (wot, no thanks or note of appreciation from the fella??!!) I was simply observing that HD may not use spreadsheets any longer, but I'm happy to do so. It was no less or more than that.

As I trust is clear, it's none of my business how you choose to assess a company nor your investment methodology.

Hi again, yoghurt73 - your post #17290 is a perfectly logical one, no question. I suspect I could have a stab at the approximate value of stock sold by CHONS in 2021 by mapping their sales via TR-1s/conversion notices and overlaying the share price during those periods but a) it wouldn't be massively accurate, perhaps to the nearest $5m??? and b) we just don't possess the full terms of the debt and repayment terms agreed by the various parties within CHONS. I'm going to guess that any interest payable since 2016 has been capitalised, but what was the interest rate? I'm willing to wager Farallon didn't agree to "inflation +2%"?! Without knowing the full terms of the agreement, without the parties declaring the terms, volumes and amount of stock & debt in dollars, the exercise you suggest looks to be a valiant effort that won't necessarily bring us any closer to the key question? The key question being, "What is Farallon intending to do with the PANR shares held within CHONS?"

FWIW, whatever happens, I find it very difficult to foresee Farallon being deliberately or wilfully obstructive as PANR's management look to secure funding (by whichever method) for the upcoming winter programme.

[bit coin] 22/9/2021 15:00

SP seems to be on the rise...........anybody know why apart from the ftse strength which doesn't normally have much effect ?

[ngms27] 22/9/2021 14:26

hiddendepths, you are being fooled by randomness.

[hiddendepths] 22/9/2021 14:24

scot - fwiw I think it's totally appropriate for YOU (and a few others too) to use spreadsheets on PANR. You have put a great deal of time and effort into understanding the minutiae of this company and spreadsheets are a wonderful way of putting it all together. I'm sure I'm not the only one who appreciates the sharing of some of your results and conclusions with the board. In days of yore, I used to use spreadsheets, some gigantic, a great deal and it was only some time after I left broking that I realised that my data on any one company had become simply inadequate to provide meaningful conclusions. My sources hadn't completely dried up but the quality had become, shall we say, rather fuzzy! I still know considerably more than most, I suspect, but I also know that my quantification efforts are all too likely to be misleading these days. So I switched to a different approach and it led quite swiftly to better investment performance across a wider range of shares and sectors.

It is very difficult for investors to gain enough accurate data to make decent valuations. It takes both time and contacts, not to mention appropriate expertise, and few have all of these for any specific company!

[dv01] 22/9/2021 13:20

Seems quiet out there today. Not much volume.

[yoghurt73] 21/9/2021 19:29

I'm very ignorant of the details here (that we even know, let alone the stuff we don't have transparency on) and this is speculation on my part.
In the original merger there were 100m non voting and something like 120m voting. At 15p in the chons piece. So circa 45m usd give or take using all 215m at 20cents per share.
Is there a possibility of the chons piece being a sliding scale that when 2021 ticked into view and F could start selling that so long as they covered the 40m + interest that whatever they sold at 30p-66p range that once the debt/interest was covered it is a case of 'keep the change' in shares to the remaining holders in the chons agreement as a performance credit?
If this is even a remote possibility - do we have an estimate on what we think the number they have sold and how much they have likely recouped to date?
As has been said before, the asset class of the original tax rebate was likely thought of in the terms of state/gov bond. So to simply recoup plus interest is all they are after, albeit late, but better than never and so the terms could have been performance related?

[dan de lion] 21/9/2021 19:02

CHONS seems to have four different holders of the shares, Great Bear has three portions and Farallon one, I take it that no one outside of CHONS knows who holds what, the fact that Farallon seem to stop selling when the figure of 17% is reached would indicate to me that the remaining 17% is not within Farallon`s remit to sell.

Or is that wishful thinking?

[chris0805] 21/9/2021 16:05

The earth is flat... isn't it?

[scot126] 21/9/2021 14:25

Hi sirmark - I don't think the intra-party relationship within CHONS is as you describe in the scenario above.

Nothing wrong with keeping track of the TR-1s but as for defining a reliable historical pattern in order to forecast future trading conduct.....hmmmm, looks like a long shot to me.

[sirmark] 21/9/2021 14:11

Forwood there is no real reason only that the other times they hit that level they converted more of the non-voting shares and as I understand the breakdown of the shares they're different as not one single owner of the combined holding and that Farallon act on behalf of the parties and maybe one of the parties has elected to keep say 17% worth and every time it gets to that level Farallon had to convert more of the non-voting shares to sell to suit the other party.

That's my best guess, as already stated from myself that they may just continue to sell the whole lot down or stop at 14/13/12/10% no one knows but them so it's just pure guess work from myself as labelled as such !