Pantheon Resources Share Discussion Threads

[chris0805] 07/12/2021 19:00

No doubt entitled 88e....lol!

[sirmark] 07/12/2021 18:57

Now funded to drill the most impactful well in the world 2022 The mighty Theta West and pull back will be extremely short lived as the big money have already sold there share from the nighties imo and will collect the new shares back at 65p hence the sharp steep drop and the recovery will be swift and the pound party still on for 2021Your all still invited :)Gl all

[youngbaz] 07/12/2021 18:56

Just tried to access the Primary Bid app. Firstly it's saying there's only 35mins left. Secondly it's saying it cannot verify some of my details and contact them 'manually'. I guess that's the end of that plan to participate then? Gotta go out to choir practice now and SWMBO would never accept this as a reason to skip!

[hfc123] 07/12/2021 18:54

@ Dan - a fund manager called Heights - see sentence 1 para 2 of the RNS: "a fund advised by Heights Capital Ireland LLC (the "ConvertibleBond Investor"), a global equity and equity-linked focused investor"

[dan de lion] 07/12/2021 18:50

So the $50/55 million bond is from an "Investor" who could that be?

[sirmark] 07/12/2021 18:47

Not with just 5% dilution... uncertainly gone this is going to smash through the 95p recent high (maybe not tomorrow as you'll clear a few million shares) but if we can get a 15/20 mln volume tomorrow I reckon we'll be done and a strange rally will happen as we now look to signed together news, ice road news, weather reports and all sorts of new exciting news as the talitha is tested and theta west and we have plenty for Alkaid (producer well) so income from mid 2022 very possible and surely a good reason for the bonds

[bit coin] 07/12/2021 18:47

Incredible news, is it true that we have the biggest drill in the world planned for 2022If so I might try to add a few more tomorrow!

[dhb368] 07/12/2021 18:41

I am excited to see which tenuous link Petroleum News will use to shoehorn a picture of Eric Opstad into the frontpage splash that news of PANRs fundraise will deservedly get.

[scot126] 07/12/2021 18:27

Pinnacle Boy - your 3rd sentence is correct. Farm out *could* still happen between now and end of January. If that doesn't happen and there's good news from Theta West, Talitha or Alkaid the entry price will be very much more expensive for them in the summer when negotiations might re-start. Maybe not in the first year, maybe 18 months but there's every chance the company could raise money in the future to retire the "debt portion" of the bond, at the company's election.

Main fact everyone: PANR is going to be

1) Flow testing a minimum of 4 horizons at Talitha #A

2) Drilling and flow testing two horizons at Theta West.

3) Drilling Alkaid-2 horizontally and cashflows begin.

Well done BoD. h/t

[olderwiser2] 07/12/2021 18:25

The Directors have assessed a number of options to expedite the financing of a comprehensive programme to advance and ultimately prove up the significant potential of the Company's projects outlined above. Farmout discussions with one party remain ongoing. The Directors have balanced the likely terms and timing to completion of these farmout discussions, as well as dilution for shareholders, dilution to project working interests, uncertain markets (including recent COVID-19 pandemic issues), and the timing and operational requirements for near-term testing and drilling during the coming winter in Alaska. The Board has concluded that the Fundraise is the best available option, at this time, to expedite a winter campaign and the advancement of the Company's assets, with 100% control over the operations.

[mlf51] 07/12/2021 18:22

Having just added at 75p should I expect the share price to drop to 65 tomorrow.

[johnswan193] 07/12/2021 18:20

I need to think about this some more.

Initial feeling is of relief that funding is sorted and for all three projects.

Have only scanned but on first reading the convertible component suggests to me a farm out may still be a viable option (to take these out later).

Could not get the farm out done but I feel more comfortable than I did yesterday.

[phsarkandalpp] 07/12/2021 17:40

Meanwhile, the recent US$1.5m short-term funding (that seemed to cause the naysayers here and elsewhere so much disquiet) dissolves into the blue yonder.

[sirmark] 07/12/2021 17:35

It's a yes from me too
just bought some on PB :)

Cha Ching this explains the drop as those share sold will now be repaid with some of the new issue IMO

GREAT BLOADY NEWS !!!

A return and a Christmas retest of the pound is for sure :)

[dhb368] 07/12/2021 17:31

Would be interested in the opinion of someone with experience, but these CB terms seem to be much better for PANR than CBs I have come across in the past.

If the 'initial' conversion price is set at 78p, does that imply a floor for any later conversion?
EDIT: Answered by Scot126 above - Thanks

I guess the issue with CBs is the amount of dilution on failure will be higher than an equity raise, however the board are obviously confident that they can service the debt repayments of up to $3M/qtr from Alkaid production in the event of failure at Talitha/TW or by stock at a significantly higher price on success.

The way I see it is that if we have commercial oil shareholders will be better off and if we don't, it hits the fan anyway.

[scot126] 07/12/2021 17:30

PhsarKandalPP - took the words right out of my mouth. I would as well, every single share he owns. It still wouldn't stop him posting though, it's his life!!

Anyhoo....100% W.I......don't write off the farm out deal quite yet....between now and the end of January (ie. before the data starts to come in from the tundra) there's a possibility (maybe not a probability) the farm in happens.

For those worried about the CB: hard floor convert price of 65p for the full 5 years; CB pays 20% premium to 65p issue price so 78p. 3 downward reset dates in 9, 18, 30 months so mid Sept '22 reset price *could* move to 73.67p.

IMHO there's a trade and an investment here:

Trade?

a) "Relief" type rally as the market realises PANR fully funded up to first horizontal production well and thus first commercial oil and cashflow.
b) Possibility of a farm out being signed in the next 6 weeks or so?
c) Big press by our various online forums as we try to get the UK and US investment community aware of the sheer scale of Talitha and especially Theta West. GG - hope you and your fellow moderators are ready to work hard!!

Investment?

a) Gain exposure to all of the above.
b) Gain exposure to a minimum of 8 and a maximum of 11 flow tests over the next 8 months or so. Success in any *one* of those 8 flow tests will add fundamental value of *at least* the current mkt cap.

It's a Yes from me.

[chris0805] 07/12/2021 17:26

Billions & billions of barrels did Bob not say?

[probabilityofsuccess] 07/12/2021 17:23

What action are you taking then ngms - holding or selling some or all?

[rideacockhorse] 07/12/2021 17:22

"The main purpose of the Fundraise is to fund three wellbore operations in Alaska at the Company's Talitha, Theta West and Alkaid projects during 1H 2022."

Going for the full house then. Lots of opportunities, lots of chances, lots of options, lots and lots and lots of oil....

[padamster] 07/12/2021 17:20

Certain directors also to partake to $895k which shows some confidence