Pantheon Resources Share Discussion Threads

[honestmarty] 04/3/2022 07:32

Dreadful news

Spin makes it worse

Below 100p today.

Those saying it's fine will be first to sell.

Lying dogs

[johnswan193] 04/3/2022 07:29

It says demobilisation of the rig occurring over the weekend, but I thought it already on the road yesterday? Was that update written last weekend or have I missed something?

Great that the remedial action worked at TW, but very frustrating about the SMD. Not sure how the market will react but I’d imagine neutral to negative. I was already expecting successful remedial work at TW but was not expecting the SMD issue.

[sirmark] 04/3/2022 07:27

The BOD doing an amazing job and making excellent decisions in what are horrendous conditions. Test one Amazing resultsTest two amazing results Test three fair results (may retest in two weeks) Test four TBCProspective needed, for me a great season so far and hopefully will end up being an amazing season.

[rabito79] 04/3/2022 07:26

If it was not for our location and recent funding the SMD news could be a lot worse. Worst case scenario is that the flow tests are carried out at Alkaid in the summer, with the possibility it could still be earlier.The good news is that the BFF issues are remedied and this will rightly be their focus over the next few weeks. BFF is at least triple the size of the SMD-B. Success here, which others more knowledgable than have given a COS higher than 90%, should take us over £2.

[pro_s2009] 04/3/2022 07:20

The big risk was losing Theta West well.......thats the 1.2 billion barrel recoverable giant.

That risk is now gone and it was a massive risk hanging over things.

Its quite right to get the testing gear up there asap and flow test it, as that is the well that will define PANR and hopefully make every shareholder very rich.

[bought in] 04/3/2022 07:16

34 degree oil - we’ll be back! The oil’s going nowhere

[jontyfromsa] 04/3/2022 07:12

I know if the share price drops I’ll be buying more. What an opportunity!!!

[pro_s2009] 04/3/2022 07:09

The main thing is Theta West is ok.......as was posted when we found the rig was moving yesterday.

Thats the big one.

SMD is disappointing but nothing is lost or changed and all being well they can return to test again after Theta West.

Theta West flowing is the biggie....and given the BFF flowed well at Talitha and this is updip and better reservoir, now they have casing set and ready to test, it should be pretty much bolted on it will flow well. So a couple of weeks to the big big news now.....its all behind pipe and safe and ready to be tested.....risk is definitely reduced now.

[jontyfromsa] 04/3/2022 07:07

Smart decision by BOD. Theta west is the golden goose. Let’s be honest. Hopefully better conditions next week

[soggy] 04/3/2022 07:05

They're 'pleased' - goo enough for me!RNS out.Pantheon Resources PLC Operations UpdateSource: UK Regulatory (RNS & others)TIDMPANRRNS Number : 6144DPantheon Resources PLC04 March 20224th March 2022Pantheon Resources plcOperations UpdatePantheon Resources plc ("Pantheon" or "the Company"), the AIM-quoted oil and gas company with a 100% working interest in all of its oil projects spanning c. 153,000 acres adjacent and near to transportation and pipeline infrastructure on the Alaska North Slope, is pleased to provide the following update:Talitha - Testing UpdateThe Company has suspended testing of the Shelf Margin Deltaic ("SMD") horizon. Operational focus will now move to the Theta West well site where the Company will commence testing operations of the 950 foot ("ft") Basin Floor Fan ("BFF") horizon.The SMD is the shallowest and thus the final zone to test in the Talitha #A well bore. The well was perforated in the SMD from 6,965 ft to 6,975 ft and was successfully fracture stimulated. Immediately after the fracture stimulation, the test was suspended by a blizzard on the North Slope which shut down all operations for health and safety reasons. Flow testing operations resumed three days later.Once flow testing commenced and before the well stopped flowing after a short period of time, only 45% of the fracture fluid was produced, with no formation water and small amounts of light high quality 34 degree API oil. Other than the small amounts of oil, no reservoir fluids were produced. The consensus among the Company and external consultants is that there is a blockage preventing any additional reservoir fluid from entering the well bore. Based on all the data, which includes a full suite of logs, sidewall cores, extensive Volatiles Analysis Service ("VAS") work undertaken by AHS/Baker Hughes over the past 12 months, and the testing of the lower zones this year, the Company's expectation for the SMD is that it should produce better than the two lower zones already tested; the Basin Floor Fan ("BFF") and Slope Fan System ("SFS") horizons, where the Company achieved excellent results.The main priority for the remainder of the winter season is to allow sufficient time to satisfactorily test the BFF at Theta West, with operations expected to commence next week. The current unavailability of alternate testing equipment necessitates the movement of the Coil Tubing Unit and test equipment from Talitha to Theta West. This consequently limits the amount of time available for remedial work at Talitha. If time is available after testing the BFF at Theta West, the equipment will be relocated back to Talitha for additional remedial and testing operations. If, however, time does not permit this season, Pantheon will suspend testing at Talitha to return next season. The Company does not believe the issue encountered diminishes the potential for the SMD on its acreage.Theta West UpdateAll remedial works within the well bore at Theta West have been successfully completed and the well is now ready for testing. The cement in the casing was drilled out and a new liner was set to Total Depth. The Nordic Calista #3 rig demobilization is planned for this weekend, preparing for the arrival of the testing equipment from Talitha.Jay Cheatham, CEO, said: "Operating in Arctic conditions can be challenging and have caused operational issues which have impacted the testing of the SMD. We do, however, have excellent data on the SMD which we will continue to analyse and plan for further activities."In this strong oil price environment, many upstream companies operating in the oil and gas sector are facing equipment and logistics challenges with high equipment utilization rates. As we are well into the drilling season, we made an easy decision to suspend activity at Talitha to afford sufficient time to undertake thorough testing at the significant Theta West project."The next well in our programme is an Alkaid appraisal/production well this summer where we will get another look at the SMD zone and where we expect to penetrate several oil zones, drill a horizontal lateral wellbore and, if successful, put on a long term production test."We are now focused on operations at Theta West. Over the coming weeks, we will test what the Company believes is a significant oil accumulation after encountering over 950 feet of oil bearing sections in a large Basin Floor Fan system. Our team have prepared an extensive testing operation."Bob Rosenthal, Technical Director, said: "Regardless of the operational challenges, I believe the potential of the SMD is undiminished. We plan further operations on the SMD at Talitha to remediate the issue either this season, time permitting, or next. Additionally, we will investigate the SMD at our Alkaid summer well."Despite the blockage encountered in the SMD, the Talitha well has been a great success for Pantheon, confirming the presence of movable, high quality light oil in both the Slope Fan System and the Basin Floor Fan, which has very significant implications for our acreage."-Ends-

[pro_s2009] 04/3/2022 07:03

Off we go.

SMD run into problems and will be retested later if time.

Theta West is ok to go......testing starting next week.



.

[soggy] 04/3/2022 06:56

Jings! Crivvens! Helpmaboab! That 633,000 buy sure puts my extra 10grand just before the close yesterday into perspective!Just a few more minutes before we find out if PANR are 'pleased' and consequently whether I, and presumably you, and the 633k buyer are also 'pleased.'!Ladies and gentlemen, the wheel is about to spin...place your bets!

[forwood] 04/3/2022 04:03

Mad 'Ras' Putin's evil empire has attacked one of the largest nuclear plants in Ukraine, indeed Europe.

'The International Energy Agency warned that global energy security is under threat, and a planned release of emergency oil reserves by the U.S. and other major economies has failed to quell supply concerns. JPMorgan Chase & Co. said global benchmark Brent crude could end the year at $185 a barrel if Russian supply continues to be disrupted. Prices were at about $114 on Friday.' (Bloomberg)

Part of the worry is the potential impact on wheat should this lead to contamination of land, affecting supplies from Europe's largest producer. Crops from the areas surrounding Chernobyl are still contaminated if indeed any are being produced.

The escalating madness of the attack on Ukraine is seriously worrying.

[pro_s2009] 04/3/2022 01:05

scotty boy will be squirming at the moment. I can foresee his face is bright red and blood pressure over 200.

For he knows, SMD testing is likely ongoing. He also is fully aware IF the rig is moving offsite and all is well, then "cased hole wireline logging" has been completed if its been done. And so......is that is the case then there is price sensitive news waiting to come out - cased hole wireline logging results !!!


He will say no leaks.

He will also say nothing price sensitive is held back.


Must be awful to be him at the moment - damned both ways........how will he spin this one into blaming someone else ????

[pro_s2009] 04/3/2022 00:59

You also wonder, with the news released from 88E this morning, whether the 88E guys in Alaska got whistpers in the wind from someone around the area that the Talitha SMD flow testing looks good, so thought it was perfect time to release a note saying, hey....Talitha good is good for 88Energy......just ahead of a news release from PANR on SMD flow testing (which should be in process at the moment).

Maybe they are just taking a guess, maybe they causght some whispers.....all very itneresting, especially with a 1.2 million US dollar buy in the US yesterday.

[pro_s2009] 04/3/2022 00:51

Interesting trade in the US yesterday..

633,300 purchased well above the offer price, at 1.93 USD.

Thats a buy order for 1.22 million US dollars filled. Thats a confident buy.





Of course, if the rig is moving off of site, it would mean by default that "cased hole wireline logging" has been completed, if it was done, as you need the rig to run the wireline logging. So if cased hole logging has been done, the results are readily available now. Interesting times..........

[pro_s2009] 04/3/2022 00:37

Interesting 😁😁😁😁

[pro_s2009] 04/3/2022 00:14

No changes to dates and time......so Rig Move should be happening now.

Rig off of Theta West should mean clearly that flow testing can proceed.

Rig move plan was notified on Monday 28th. This means, imo, the remedial work was completed quickly and since then they have run cased hole wireline logging. They have to do that as the rig is needed to run wireline. A few days demob......prior to the rig moving, so they now have the full cased hole wireline logs.

If they have the full wireline logs now from cased hole logging, they should be releasing this price sensitive information to the market very soon !!!!




Oversized Vehicle on Dalton Hwy Northbound from mile marker 387 to mile marker 414 . Road Closure for 36 hours.

Comment
GREAT BEAR PANTHEON, IN PARTNERSHIP WITH CRUZ CONSTRUCTION AND NORDIC CALISTA, WILL BE MOVING A LARGE DRILL RIG ON THE DALTON HIGHWAY FROM MILE 386.7 TO DEADHORSE THE MOVE IS ANTICIPATED TO LAST BETWEEN 30 AND 36 HOURS.

DALTON HWY RIG MOVE 12:15AM ON MARCH 3rd MILE 386.7 TO DEADHORSE ROAD CLOSURES WILL BE ESTABLISHED DURING THE MOVE THE RIG WILL BE STOPPED IN TWO LOCATIONS TO ALLOW TRAFFIC TO PASS ESTABLISHED LOCATIONS AND ESTIMATED TIMES: CLOSE ROAD AT MILE 386.7 – START THE RIG MOVE PULLOUT AT MILE 403.7 – 16 TO 18 HOURS AFTER RIG MOVE START PULLOUT AT MILE 412.7 – 24 TO 28 HOURS AFTER RIG MOVE START OPEN ROAD AT DEADHORSE – 30 TO 36 HOURS AFTER RIG MOVE START

INFORMATION: CODY OATMAN, CRUZCONSTRUCTION [e-mail] // 907-320-6046

THE MOVE SCHEDULE MAY BE IMPACTED BY WEATHER. IF DATES NEED TO BE MODIFIED, UPDATES WILL BE PROVIDED AS THEY BECOME AVAILABLE.

Start Time Mar 3 2022, 12:15 AM
Anticipated End Time Mar 4 2022, 12:15 PM
Last Updated Feb 28 2022, 9:05 AM
Id: 1505

[officerdigby] 03/3/2022 19:59

Thanks Scotty! It does appear.rig returning today on the 511 site.

[bit coin] 03/3/2022 19:08

And they paid top dollar, $1,93

[sirmark] 03/3/2022 19:04

633,000 trade in the us !!! Hmmm news maybe ?

[k1ngkonggb] 03/3/2022 16:33

Bit of a swing session this afternoon. Hopefully, once good news drops then we should see this a mere blip.

[forwood] 03/3/2022 16:29

FYI Scot the usually long winded sideswiper - the reference group I was referring to is

88E, BP, GENL, GKP, HUR, JOG, PFC, SHEL, TLW, UKOG