Pantheon Resources Share Discussion Threads

[spangle93] 03/11/2021 07:57

18 Jan - 15 Apr. Theta West #1 well drilled, cased, tested, and suspended

"Suspended"- clearly confident of a well they will need at a later stage....

[gorgeousgeorge01] 03/11/2021 07:41

"we raise funds for TW and farmout Alkaid as Alkaid can be a producing asset next summer and would appeal to a different Audience"

I suspect you might not be too far off the mark, Sirmark.

[chris0805] 03/11/2021 07:37

A reminder to all that the broker note from Canaccord, which raised their current fair value to 170p, stated that the BoD were seeking a farm out for the coming seasons work plan. They say it would be impossible to determine what terms of any farm out would be, so have budgeted for a fund raise to provide $40M, within the 170p fair value. Hence from the house broker *fair value POV* the upcoming season is already 80 to 90 percent funded :-) GLAC

[sirmark] 03/11/2021 07:35

Could be spot on, wow what a call that would be in a 50/50 scenario lol Nothings confirmed yet and still time to go.... And there's another possibility I suggest that we raise funds for TW and farmout Alkaid as Alkaid can be a producing asset next summer and would appeal to a different Audience than the larger TW.

[bomber13] 03/11/2021 07:33

With thanks to Mount Teide on the Savannah Energy board -

Euroclear's October Stock on Loan(short) Report just published =

Selected O&G Sector Company Analysis

0.03% - Jadestone Energy / (No change)
0.34% - Advanced Energy / (Down from 0.58%)
0.43% - Savannah Energy / (No Change)
0.66% - PetroTal / (down from 0.68%)
1.81% - Shell / (down from 1.86%)
2.67% - Pantheon Resources / (up from 1.85%)
3.76% - BP / (down from 3.83%)
3.00% - Enquest / (down from 3.99%)
6.18% - Cairn / (up from 5.62%)
8.37% - Touchstone Exp / (down from 8.39%)

[waterpolo] 03/11/2021 00:50

Ummm ScottNo I don't suggest that at all...how do you come to that conclusion I think the bod is very capable of raising those funds...will need 50 -60m i thinkI think they will get it done..I agree with ngms though They have 2 options jv or equity...im hoping and predicting equity Pretty simple isn't it

[scot126] 02/11/2021 23:18

waterpolo - Lol, the to and fro between the Alaskan regulator and PANR concerning the drilling and testing plans for Talitha #A and Theta West is *not* the appropriate venue to be describing the progress made in farm out negotiations!

I find it both absolutely hilarious and truly scary that a bunch of old, retired males think they need to advise PANR management and their fellow PANR shareholders what date it is, no doubt when they glance up at their Countryfile calendars. FFS guys!!! Think about it?

a) The BoD managed to raise $30m last year when the POO was $35-40. Are you seriously suggesting this same team of professionals isn't capable of securing $50m (by whichever method) when the POO is now $80; when they have the Baker Hughes VAS results from Talitha #A; and after they secured the Theta West leases for 10 years (complete with its 1.4bbo contingent resource) for the princely sum of $3.3m??????

b) Do you think PANR management or Nordic-Calista management would have inserted or given permission to insert Nordic-Calista's details in formal paperwork with the state regulator unless they were damn sure they had a clear pathway to securing funding?

c) Here's a more likely scenario than the one which sees a bunch of whinging old men worrying about PANR being unfunded for the upcoming winter programme. Have you considered the BoD may have competing farm out options? Perhaps even sufficient competing options that there's a Plan A, Plan B, Plan C, Plan D.....all the way to Preparation H especially for the whingers?! Perhaps the BoD can live with 3 out of 7 farm out options and that was what gave them the confidence to go ahead and reserve the Nordic-Calista Rig 3 for the winter season? FML.

[madd_rip] 02/11/2021 23:16

Lol, another downvote. Get a life

[jessieduke2] 02/11/2021 23:03

It’s all over Twitter. My tweet already has over 8,000 impressions.

Looking forward to the winter season.
Blessings all. ✈️

[waterpolo] 02/11/2021 22:56

Ngms could be spot on

[waterpolo] 02/11/2021 22:55

Given it appears no JV from this news, and pantheon are unfunded...what's the next step?

[madd_rip] 02/11/2021 22:54

Thanks for the rns explanation, I was just curious. (Still earnt me a downvote, hey, ho)

[scot126] 02/11/2021 21:12

Opinion. I don't *think* this news meets the threshold for an RNS but I could be wrong.

For me, it's more about the progress that is clearly being made by management away from the glare of the equity market. I would argue it reinforces hiddendepth's statement of a few weeks ago. I'm paraphrasing here but hiddendepths was pointing out that the progress and value added by the combined management teams since the PANR/GB merger in January '19 was now sufficient to cast off the reputational damage associated with Texas. He stated that, in his view, investors are now justified in looking forward with renewed and genuine confidence in management and the company's overall strategy.

Securing the Nordic-Calista rig for a second consecutive season and getting the Theta West paperwork in good order well ahead of the season is *exactly* the evidence of good stewardship I am looking for (and in truth now expect) from this post-merger management team. Good stuff.

[bigwavedave] 02/11/2021 21:07

Video of the rig:

And for the techies: hxxps://www.nordic-calista.com/rigs/rig-3/

[dhb368] 02/11/2021 20:57

Extracted from the LEASE PLAN OF OPERATIONS APPLICATION15 Dec - 16 Jan. Prepack then construct Ice Road and Ice Drillpad to Talitha A then continue construction to Theta West #1 location4 Jan - 15 Jan. Move Rig to Talitha A and Rig Up15 Jan - 16 Jan. Rig Moved to Theta West #1 Coil Unit Moved In at Talitha A18 Jan - 18 Jan. Theta West #1 well spudded18 Jan - 15 Apr. Theta West #1 well drilled, cased, tested, and suspended15 Apr - 30 Apr. Rig downTheta West and move out28 Apr-30 Apr. Clean-Up both sites (Winter)30 Jun - 3 Jul. Clean-Up both site (Summer Stick Picking) – 2 days in June or JulyEnter Date.

[madd_rip] 02/11/2021 20:26

Just noticed it on Reddit as well. Will be interesting to see what the market makes of it tomorrow. Does this require a rns as well?

[unlikely2] 02/11/2021 20:25

Nice find.

I note the letter is definite about the use of the NC3 - no caveats saying "or similar rig" which is quite common in this type of application.

Also confirms as expected that the ice road will go first to Talitha then a further 10.5 miles to Theta West.

I wonder at which point this news reaches the level where an RNS will be issued?

[scot126] 02/11/2021 19:50

PS I wonder if any US investors who monitor this thread will buy up $pthrf in advance of what, all things being equal, should be a positive UK market in PANR tomorrow? Any Twitter folk may wish to tweet out the link? GG? jessieduke2?

[sirmark] 02/11/2021 19:45

Excellent find Scott !!!! I'm so glad we'll have them back, they know us and we know the way they work ... great partnership with success being both our goals and not just a pay check !!!

[winner66] 02/11/2021 17:38

I think F are going to sell all the way down , but it isn’t going to make to much difference to the end result . It’s always worth remembering for every seller there is a buyer and vice versa

[scot126] 02/11/2021 17:37

Haven't the foggiest, sandcrab2. Highly, highly unlikely in my experience that their intermediary would knock out lots of tiny wee trades like that. As I suggested earlier, looks to me like algo biz.

[sandcrab2] 02/11/2021 16:44

More Farallon selling?