Pantheon Resources Share Discussion Threads

[scot126] 05/1/2022 15:29

ANS West Coast crude price on 3/1/22 was $80.35 v's Brent @ $78.98.

[dhb368] 05/1/2022 15:20

I think a TR-1 is only required if a change in percentage holding, by an event such as the issue of shares, is material.

In this case 0.62% is not material, (I think 1.0% or more is deemed material but cannot find a reference to it so may be making that bit up) even though it crosses below the 9% line.

[ngms27] 05/1/2022 14:45

I believe they ARE required to issue a TR-1 if they have crossed a threshold that requires notification with additional shares in issue. I've seen this many times with other companies so am basing this on empirical evidence rather than reading the rules.

[sirmark] 05/1/2022 14:25

The rules are for ever percentage change I believe that's regardless of how the change happens (but happy to be proved wrong)

[dhb368] 05/1/2022 14:21

sirmark, I don't believe Farallon are required to issue another TR-1 just because more shares are in issue. The presumption is that those capable of operating in the market can also use a calculator.

[johnswan193] 05/1/2022 14:03

Call it "the 78p effect". But it will likely be irrelevant within a month or so.

[sirmark] 05/1/2022 14:01

Both I imagine.


Also any thoughts it's been over 3 weeks for Farallon to adjust and re-issue their holdings RNS.

They only hold 8.96% and not the published 9.58% and I expect that to be less now but surely after being very on the ball the ball prior seems weird someone hasn't point this out to them either from their company or ours (appreciated we have more important things at the moment)

It would be nice to push them to make the adjustment for the extra shares admitted and this would also help us see how many extra shares they have sold since then.

[mlf51] 05/1/2022 11:20

Is the share price being kept here for someone to load up or because someone is offloading.

[probabilityofsuccess] 05/1/2022 11:01

Happy new year all.

Apologies if I’m missing something obvious, but I think responsible investor was referring to the hundreds of wells to be drilled by someone other than PANR in a success case, when he refers to “huge drilling program”.

These aren’t currently financed (obviously!).

[johnswan193] 04/1/2022 20:37

The huge drilling program is already financed.

[responsible investor] 04/1/2022 20:30

It is reported that JP Morgan is predicting Brent crude will reach $125 per brl in 2022 and $150 in 2023 (GS predictions are similar.) As the estimates for the value of PANR shares has been calculated using values for recoverable oil at $5 -10 per barrels with Brent currently at about $79 per barrel, what should the value be on the basis of these higher projected market prices - $15-30 per barrel? (What was the expectation of the long term price of Brent when the estimates of $5-10 were made?) Also the higher prices will result in higher OIP/RFs with the latter being currently estimated at about 10%.

Calculate the figures on 18 billion barrels of OIP at, say, 15% average RF (which would be very low for NSA) and a revised market value for recoverable oil and you will get a pretty attractive NAV for PANR shares, subject to any black swans occurring during the 2022 drilling season - even factoring in a CoS currently averaging about 50%.

How much of this value will have to be given away in order to finance the huge drilling program? But how much of this cost is factored into the current and revised market value of the recoverable oil?

[sirmark] 04/1/2022 20:05

I think that 1.6mln was to balance the books of the otc as was busting through that volume pretty much by the time we closed give or take half hour

[sporazene2] 04/1/2022 17:42

Chris, FYI there was a 1.6m trade booked here after hours.

[chris0805] 04/1/2022 17:32

Of your 2m+ otc traded, 1.85m is a single buy.... Wow...

[sirmark] 04/1/2022 17:28

Massive volume (usual average recently has been about 200k) on the OTC already over 2mln shares ...

[sirmark] 04/1/2022 16:29

there was a very clear seller today putting a quash on affairs ... although after watching level2 it was evident there was a strong buyer in the midst loading up with decent orders to tempt out the seller...who got it right we don't know... but my monies on an amazing drilling season with a bid for the company.(my thoughts have been mid year, time will tell)

[scot126] 04/1/2022 15:15

Hi Spangle93,

"Indeed the Alkaid 2 horizontal development well could be viewed as "an SMD sidetrack" in the sense that it will give similar information e.g. lateral variability of properties in a marginal deltaic deposit."

Happy to be corrected but I'm not sure a final decision has been made on whether the lateral component of Alkaid #2H will target the deeper Brookian ZOI or the shallower SMD-B horizon? I do, however, understand Alkaid #2H will firstly target (vertically) o/w contact below the emergency TD of 2015 to test Bob Rosenthal's working hypothesis that the Brookian ZOI extends further and deeper than proven thus far by Alkaid #1.

RNS dated 7/12/21
"Alkaid #2H - confirm the extension and quality of the SMD formation and, depending on results, complete either the SMD or the deeper Brookian Formation as an oil producer adjacent to the highway, which will be Pantheon's first producing well on the Alaska North Slope (estimated commencement: June 2022)"

[bobbiedazzler] 04/1/2022 15:10

Brent back over $80 a barrel.