Pantheon Resources Share Discussion Threads

[ngms27] 25/11/2021 09:52

Well it's my opinion that the graphical interpretations showed Alkaid to not really be worth the effort and that the SMD looks a far better option close to the highway BUT hasn't been tested. Hence nothing doing at present and likely never will with PANR IF this Winters flow tests are successful.

[hiddendepths] 25/11/2021 09:38

johnswan - Obviously I know no more than anyone else about the reasons behind the Alkaid deferral. My guess, and that's all it is, is that it has become a sideshow and its priority has fallen in consequence. The company believes that the best use of time and resources, including money, is the Big One now. That possibility actually made me feel more bullish, not less. But that's based on my feeling and I'd be the first to say that it's not particularly rational!

[gorgeousgeorge01] 25/11/2021 09:32

"Why then, do those invested raise the question of mistrust, when it appears irrelevant to their investment decision in PANR. Bizarre!"

The answer is surely the obvious one: they do it to SOW MISTRUST! They don't trust management and refuse to acknowledge why anyone else would do so. They conflate operational matters with statements of fact. If I cannot trust, at face value, statements of fact from a management team, then I should not be invested. Worse, I should be thought a fool to remain invested.

[gorgeousgeorge01] 25/11/2021 09:26

"I've had numerous investments over the years where I rate the assets but not the management team. But never an instance where I rate the management team but not the assets."

I start from precisely the opposite premise. As a small investor, I can't get to know an asset other than through it's management team. Fortunately, I CAN get to know them.

Bad management can ruin even the promising investment. I am quite surprised to read what you say johnswan. In those instances in which you didn't rate the management, how did your investments turn out? It's beyond my experience.

[ngms27] 25/11/2021 09:24

gorgeousgeorge01, lol.

Had I trusted management implicitly, I'd still have been in HUR below 10p as they still insisted the water was perched.

The thrust of my POV is always always question managements statements. They are mostly made with the best intentions but are always the bull case. Consider the potential downside scenarios. However that upset many on this board but it is 100% the right course of action for any shareholder.

Implicitly trusting management undoubtedly leads to confirmation bias.

BTW my results in this sector have been good with many multibags. We all have some losers, unlike some I accept that.

[probabilityofsuccess] 25/11/2021 09:23

That’s a view johnswan.

Why then, do those invested raise the question of mistrust, when it appears irrelevant to their investment decision in PANR. Bizarre!

Sounds to me like hedging bets - may ultimately lose money, but at least convinced themselves that they may have been ‘right’ even if they acted contrary to their instinct.

[bad gateway] 25/11/2021 09:23

Trust or not it would be good to get an RNS confirming they've drawn down some of the cash to order the first of the long lead items given their warnings of covid/supply issue delays.
One year anniversary of them having contracted the rig for Talitha A today so clock is ticking.

[johnswan193] 25/11/2021 09:22

HD, why do you think that neither management or partners have believed in Alkaid enough to develop it further? Certified contingent resource of 76.5mmbo right by the TAPS with an NPV >$500m at $55 per barrel held flat, expected to be bigger than that, yet sitting there for years doing nothing.

[johnswan193] 25/11/2021 09:17

In this industry you can have poor management and great success, and great management and poor success. I disagree that somebody would need to have full trust in management to remain invested. I've had numerous investments over the years where I rate the assets but not the management team. But never an instance where I rate the management team but not the assets.

[hiddendepths] 25/11/2021 09:14

It's hard to imagine oil RIGHT BY the TAPS not being commercial, isn't it Pro? I wouldn't describe it as a fringe area either. I suspect even a modest find where PANR is focusing its efforts would be commercial, cheap, quick and easy to hook up. That's very rare in Alaska, which is a bloody difficult area in which to operate!

[gorgeousgeorge01] 25/11/2021 09:07

"Alkaid is an example why I NEVER trust management implicitly."

Operational matters are always subject to change. What I am talking about is a much more fundamental question. If statements of fact are made by a board - such as those in relation to farm-in discussions - one must be able to trust them implicitly. If not, why remain invested? I have no doubt that negotiations have taken place. No doubt whatsoever. Surely that is also your position ngms? That you would remain invested if it were not so is beyond my ken.

You are inviting misfortune if you remain invested in any company upon a basis of mistrust. What you are basically saying is that, despite fundamental misgivings, you went along anyway. Isn't that the reason why you have a legacy of failed resource investments? I don't mean to be harsh, but I am making a very serious point by asking a very serious question.

[probabilityofsuccess] 25/11/2021 08:53

Those who trust management are invested
Those who don’t trust management are invested.

Moot point really then, isn’t it, as, from what is being written, it appears not to be a factor in the PANR investment case for those who don’t trust management.

(Investment) actions speak louder than words.

[rafthorney] 25/11/2021 08:52

Baking the humble pie for a few to eat when news comes.

[ngms27] 25/11/2021 08:44

Alkaid is an example why I NEVER trust management implicitly.

[gorgeousgeorge01] 25/11/2021 08:44

"Good to see GG and Rabito back on here."

Thanks.

[gorgeousgeorge01] 25/11/2021 08:42

"And I believe my stance has been verified somewhat by the cancelling of the Alkaid summer 2021 drill...........they seem not confident in it, and so did not do it."

I was disappointed by that myself, if only because the cash flow from production might have muted the naysayers for a while. There are all manner of possible reasons why Alkaid didn't happen this summer. Who can know what Alkaid's status is in any farm-out negotiations? As a shareholder, I have to accept that there things that I simply cannot know ahead of time. I am free to buy and sell my shares accordingly. It can be no other way. That's why, as a shareholder, I have to trust management IMPLICITLY!

[dv01] 25/11/2021 08:32

Good to see GG and Rabito back on here.

[madd_rip] 25/11/2021 08:21

Hmmm, time to filter a few again it seems

[pro_s2009] 25/11/2021 08:18

And I believe my stance has been verified somewhat by the cancelling of the Alkaid summer 2021 drill...........they seem not confident in it, and so did not do it.

Why were they not confident to drill Alkaid as promised in the summer of 2021 ? If it had flowed they would have production now, and cash flow coming in.

Perhaps they want to get a load more money in the bank before they risk potential failure on Alkaid ?

At least with some money in the bank then "Theta West" can be the new "wonder rare opportunity" if Talitha and Alkaid fail...........

[dv01] 25/11/2021 08:15

You just keep talking your book. No one else is listening.

[ottoman1453] 25/11/2021 08:14

GG that is precisely my own position - just as it surely is that of many holders of Panr.

[pro_s2009] 25/11/2021 08:14

HD, there is no question about whether oil is there for both 88E and PANR, there is lots of it there........sadly most of it will most likely be noncommercial.

That is the big play in this fringe area of the North Slope, lots of oil but is any of it commercial ? The big boys dont think so.

If PANR strike it lucky then it will be great, but the expectation of both 88E and PANR should be, imo, they will find lots of oil, just not much if any that is commercially viable to produce.

[smd_oz] 25/11/2021 08:11

can feel a equity raise coming at 20% discount i reckon