Pantheon Resources Share Discussion Threads

[pro_s2009] 21/2/2022 09:46

Time is not running out. 88E will not even spud their well until into March.

Plenty of time to sidetrack if ultimately needed. We will know next Monday morning in the next ops update, if not before.

[scot126] 21/2/2022 09:44

Dear All - please see below a first pass reaction from WH Ireland, dated 21/2/22.

Pantheon Resources (PANR) – Corporate – Operational Update
Market Cap £970.6m Share Price 129.6p

Pantheon Resources announced that the Slope Fan System produced from the Talitha #A well at a rate of 45 bopd over a three day test. The rate reflects production from two perforated and fracked zones each of a circa five foot interval and each relating to an independent production zone. As expected, the oil was of light, high quality. On the final day of testing the well flowed at a sustained rate of 32 bopd.

At Theta West #1 an operational error by a third party contractor resulted in cement entering the inside the casing string rather than outside. The company indicated it will remove the cement from within the casing prior to performing a remedial cement squeeze job. The company expects the work to be completed over the course of this week, prior to conducting flow testing operations on the Basin Floor Fan.

WHI View: The Slope Fan System had not been a core focus of ours relative to the Shelf Margin Deltaic-B (Upper Alkaid), Alkaid Deep and Theta West (UBFF & LBFF). This result puts the Slope Fan System into play, in our opinion. For the time being, there are no resource estimates the Slope Fan System. The company indicated the deepest of the Slope Fan System lobes extends to the Alkaid #2 well (and Alkaid #1 well), allowing it to be tested by the Alkaid #2 well and also suggesting, in our opinion that the scale could be significant.

The operational setback at Theta West #1 will require the drilling out of cement before restarting. The company provided a timeline of one week for the remedial work. A one week setback is not, in our opinion, that big of an issue; however, we will be relieved to see the well properly cased. Ultimately, this should have no bearing on the flow rates achieved during testing, in our opinion.

[probabilityofsuccess] 21/2/2022 09:44

My view is that it was an operational issue and I’m very aware that this stuff happens. I plan for it in my mind because operations very rarely go smoothly - it’s not about sweeping stuff under the carpet, it’s about setting your own expectations. Perhaps you have found out that you have set your expectations higher than you should have done? Everyone should have set their own expectations, some higher than others.

I am saying we have excellent news from Talitha.

[gorgeousgeorge01] 21/2/2022 09:39

"I don't think many investors in here nowadays remember the bad old days of Texas so I don't agree that's much of a factor in the share price hesitation."

I can only speak personally, but prudent risk management has necessitated profit taking. A combination of factors, including memories of East Texas. I've missed a lot of upside, so caution doesn't necessarily pay, at least not in full. Yet memories linger.

However, success is a wonderful emollient and I feel confident that any success at Theta West#1 will herald a new chapter of wealth creation.

[probabilityofsuccess] 21/2/2022 09:37

At least we now know ngms’ definition of ‘relatively high’ is 15%

[bumpa33] 21/2/2022 09:35

there’s plenty of investors/traders who recall the Texas days…

[forwood] 21/2/2022 09:32

Pos, 'we' are the market, the shareholders. 'We' have too many 'can't bear to hear bad news'. That's my point. Denial, sweeping it under carpet or dismissing it doesn't help to maintain confidence, it actually undermines it. I very clearly said what 'my' view is. Are you saying 'we' don't have good news from Talitha? You are so good at criticising other people. So what is your view on what happened at Theta West?

[yoghurt73] 21/2/2022 09:29

The flow rates of sfs and bff and no doubt followed by a good SMD result - as the primary target - prove VAS to be a very accurate indication of reservoir quality to the wider investing audience (even tho it was already understood by the industry) over this past year. So whatever the outcome of the cement issue and squeeze job we know we likely have VAS in the bank for the TW drill, any positive BH analysis of that VAS sampling will go a long way to reassure the industry this field is what the company claim it is.

[hiddendepths] 21/2/2022 09:28

forwood - this is not really the same company. In effect, the Great Bear acquisition was a reverse takeover. I suggested at the time that the company should be renamed to put a clear distance between the past incarnation and the new one.

I don't think many investors in here nowadays remember the bad old days of Texas so I don't agree that's much of a factor in the share price hesitation.

IMO the market cap now is pricing in a fair bit of success and to make further progress in the short term will require more evidence, either from Theta West test results or a reserve assessment. Either of those is likely to significantly reduce the remaining risks and allow the share price to make a step change higher, which could well be to an all-time high as the potential is still clearly enormous.

[ngms27] 21/2/2022 09:27

Pro_S2009,

Squueze jobs.....85% success rate.

Exactly. So a 15% chance it doesn't work, leaving the only option a sidetrack with the time window running out.

That's why we aren't trading much higher on the good success from the SFS which could be a major oilfield in it's own right.

[probabilityofsuccess] 21/2/2022 09:20

Forwood - you say ‘we’ a lot, but aren’t you just representing your own views? Who are these ‘we’ you refer to and are they all happy for you to represent them in your statement?

For the record, you are certainly not representing my view.

[madd_rip] 21/2/2022 09:19

May make a cup of tea to celebrate the whinger leaving. But then he recently flip flopped and said much to our detriment he was staying.

[officerdigby] 21/2/2022 09:05

Hi All great news on SFS.

In Theta West with the cement on the inside. Would the outside, the casing to formation be protected. Would they have continued to do that after the error.

ie outside is now cemented as planned.?


As I read from B4 that it was a priority to protect the formation from exposure etc.

[inteligentia8] 21/2/2022 08:59

NGMS will you be leaving us soon....150p is not too far now...sorry to see you "get lost"...🥰
0084;️㊖5;🤗

[pro_s2009] 21/2/2022 08:58

Squueze jobs.....85% success rate.

[winner66] 21/2/2022 08:47

Share Price . For those of us invested we are sat by all accounts on the cusp of a major share price re rate . As the weeks unfold I’m convinced we will be above £2.50p per share . It’s not just about the results , it’s the results and the ability to be a commercial entity . We have to be a target for take over . What that means possibly later this year share price wise , I’ve no idea , but multiples of today’s price .

[scot126] 21/2/2022 08:45

ngms27, post #23151 - please provide the thread with a source document for your statement. Kindly quantify the percentage rates to which you refer? Or is this just another tiresome and childish case of "heads I win, tails you lose"?

[mlf51] 21/2/2022 08:43

Persistent seller/ sellers

[nav1000] 21/2/2022 08:42

TidyGo and read copl rns they are not producing from that zone yet.What on earth are you on about.

[gorgeousgeorge01] 21/2/2022 08:41

"CPR due.

Panr is all hope."

Tidy, I'm glad you're a bull of COPL. Someone has to be and I've no difficulty with that. For those who might be tempted, I simply say that you may not be comparing like with like.

"Canadian Overseas Petroleum Limited is an international oil and gas exploration, development, and production company actively pursuing opportunities in...sub-Saharan Africa though its ShoreCan joint venture company in Nigeria..."

[michaelsadvfn] 21/2/2022 08:37

A rather underwhelming market response given this hit 140 last week.