Pantheon Resources Share Discussion Threads

[forwood] 23/2/2022 14:21

I expect that timing is the reason for our fall today. A longish wait for news probably encourages share price gamers to mess about with price.

Talitha testing on the Lower BFF and Slope Fan systms appears to have taken 2 weeks to date, which suggests SMD results c 7 March. I expect TW around the12th, assuming they get the casing fixed by Friday. If they need any of the test equipment from Talitha to do the TW testing that might delay the TW result, which was why I was asking for a technical view.

[ride daice] 23/2/2022 13:54

A very old one I assume.

[idriveajag] 23/2/2022 13:41

NTOG potential 20x bagger this year:Increasing production, drilling up to three more wells in the US this year, expect to be profitable this year and MCap is just £3.38m.

[btgman] 23/2/2022 12:48

I prefer to look at the big picture rather than timing.

Currently we are well into our drilling and testing phase and underlying things are going incredibly well.

We have so far tested Basin floor fan and Slope fan system from Talitha well from last year and I feel that these are both discoveries adding very significantly to our valuation. The size of these numbers are still to be revealed in full but I suspect it is likely to be a very large number. We have the favored zone still to test at Talitha Shelf Margin Deltaic

Over at Theta West our 2022 drill we have hit our targets and currently they are working a contractor error but big picture is this is very likely to be remedied either by drilling out the cement most likely or by doing a side track. Big picture is BFF looking very good so far and confirmation of commerciality will point to over 1b barrels of oil recoverable from this zone.

Broker note currently at £2.20 which continues to ignore the increasing oil price and the new SFS. Without management numbers I get this but certainly is a free benefit at these levels.

AIMHO
GLA
BTG

[forwood] 23/2/2022 12:33

I assume we're now testing the SMD at Talitha and that we'll get the result before the BFF test result at Theta West? Does anyone Technical have prospective dates for these two events now?

[sirmark] 23/2/2022 12:20

Next news should be the remedy works are completed and we are now starting our TH flow tests. This will eliminate the uncertainty and get us above £1.50 and as the SMD should be currently under testing this could also arrive next week at some point although as it's the last zone and primary target maybe they will run the tests for as long as possible to gain as much data about the reservoir as possible.

Very quiet considering though.

GL ALL

Not long... we might even get an RNS tomorrow or Friday confirming it's all sorted.

[the count of monte_cristo] 23/2/2022 12:08

OT - Might be worth taking a look at ARG, with oil prices at 100 USD these types of stocks are going to increasingly come back in vogue:) Market cap is 3.64m GBP.

[youngbaz] 23/2/2022 09:35

Thanks John. That was the logical explanation but always best to check when there's an ambiguity. The reason I raised the point in the first place was that every comment on here in the hours following the RNS reporting the mishap seemed to be assuming that the full burden of the on cost was going to fall on PANR. As in ... well that means one drill fewer etc etc. So the impact should be primarily one of timing rather than nett cost/expense. Always assuming everyone is appropriately insured.

[westx] 23/2/2022 09:30

Service company waives or reduces invoice to operator for their equipment or personnel failure.

[johnswan193] 23/2/2022 09:12

It means reduce or waive their invoice for the work.

[youngbaz] 23/2/2022 09:11

Thanks for the response Wes. Could you please clarify what you mean by 'waive or reduce the ticket'?I'm not sure whether you're suggesting the contractor often reduces what would have been their agreed invoice, or whether the operator reduces/waives the amount they might legally be entitled to hold the contractor responsible for. Quite an important difference?

[westx] 23/2/2022 07:47

Yes they are generally liable if their error or equipment failure causes expense. Usually this is negotiated between operator and service company. It's a common practice to reduce or waive ticket. In my experience rarely ends in litigation. Similar error happened several months ago on a well I consulted on. Cement flash set when coming around casing shoe leaving green cement in casing. Operator drilled it out in a couple days, perforated above existing cement in annulus after running bond log to determine top of cement. Broke circulation and cemented with no problems. Service company waived ticket as I recall on both cement jobs. Operator still bore cost of rig time. This was 4000' well in TX so cost was nominal.

[ngms27] 23/2/2022 07:43

Winner66, no its a serious question. The BoD did promise this last April. There surely has to be a reason they haven't published resource numbers?

[madd_rip] 22/2/2022 18:54

Join the club. An oil exploration expert whose miserable soul has never even been near one let alone worked in the industry.

[winner66] 22/2/2022 18:11

NGMS cut it out your more transparent than a window !

[mike290] 22/2/2022 17:16

Hi Unlikely..., Thanks for your help. Regards, Mike