Pantheon Resources Share Discussion Threads

[sandcrab2] 09/3/2022 17:40

Marmaris on Lse

“If the window is there we will test lower BFF right now and then UbbF by end month. Smd can be revisited and tested by mid April. A coiled tubing rig up is not as heavy as a rig. Ice road back to Dalton is 8 miles and does not need all the weight when built for the big rig”

[sandcrab2] 09/3/2022 17:37

I think you can expect the company to move into top gear PR wise, once the LBFF results are in

[chris0805] 09/3/2022 17:31

Wishful thinking perhaps..

[bit coin] 09/3/2022 17:25

It sounds like Saudi have rejected Blinkdens request to up their oil production which leads me to think that I know of a small oil company operating out of Alaska who could soon receive an offer for all the crude they produce, from the USA government who wish to keep their strategic reserves topped up in these difficult and unprecedented times!

[unlikely2] 09/3/2022 16:24

Some loose speculation here - question for those with greater real knowledge and experience of testing.

Would it be technically feasible to do the same as was done with the SFS zones at Talitha - perforate, frac and then test both zones simultaneously?
The expected advantages being a probable higher headline flow rate, and perhaps enough time saved to give the SMD another go. I understand downhole sensors can be installed which can indicate the flows from different parts of the formations.

Just curious. Jays comment about 950ft to test would seem to indicate that intentions, at least initially, are to test the LBBF.

[dan de lion] 09/3/2022 15:52

200ft of oil would send the average drillers into ecstasy, every chance, given time that it will be tested.


IMHO

[cezuan] 09/3/2022 15:19

@fordtin I misread you original post. I was summarizing the TW drilling. If we drill both, then yes, you're right. There are 2 events in the near term that may both have a strong effect up & down and share price weakness may just reflect a de-risking of gains secured up until either.

[btgman] 09/3/2022 15:07

Wow some are clutching a little here. 950ft of pay upper middle bottom not rightly bothered. 950ft is an absolutely huge potential pay column.

News comes when it comes this really is the big one if it comes in as tbh I expect it to the current share price is a fraction of where it will end up

AIMHO
GLA
BTG

[fordtin] 09/3/2022 15:03

JS93 - testing of UBFF was shown in presentations. Do you really, seriously, genuinely believe, in the event of a problem with LBFF, they’ll just plug the well and pack up without testing UBFF?

[fordtin] 09/3/2022 15:02

re "You are probably right if you disregard time", Why such a hurry, It will only be a matter of weeks between LBFF and UBFF!

[johnswan193] 09/3/2022 15:01

fordtin - you're talking about the UBFF in order to justify this not being a one trick pony, but most recent operational update referred only to the LBFF zone. This suggested to me that the UBFF may not be part of the testing plan for this season at TW.

i.e. originally we were told 200ft in UBFF and 960ft in LBFF, whereas most recent updated stated:

"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."

[sandcrab2] 09/3/2022 14:58

Marmaris is thinking next week

And this from Lse

‘The end of March was for the testing of the BFF, both zones imo, upper and lower BFF. The lower one is the more important by a country mile. End of next week, possible the following Monday is very right considering how the testing has gone before. I.'e 14 days with bad weather, 10-12 with fair weather.’

[cezuan] 09/3/2022 14:37

@fordtin Are you sure? You are probably right if you disregard time and exclude what might additionally happen between now and when the company gets sold.
I was referring to people entering for the st value this drilling might unlock and how the share price might react short term upon a TW worst case outcome and people positioning for these gains and exiting upon failure.
Given how many entered PANR >60p last year, I would not be comfortable suggesting that PANR will stay above that near term if something grave goes wrong at TW now. Even if there are more value potentials. And I expect people securing their relatively large gains now in anticipation of that.
But yes, I was indeed referring to the st only and PANR is possibly worth more eventually even w/o TW.

[arcadian] 09/3/2022 14:12

It`s just that some are impatient . End of March is a long way off.

[fordtin] 09/3/2022 14:01

Theta West is definitely not binary as post 24050 seems to suggest.

Company presentations show;

17+ mile onshore Basin Floor Fan with 12+ billion barrels of oil in place
✓ Oil discovered in distal location at offset wells at Talitha and Pipeline State
✓ Theta West location updip and 1,500 feet shallower
✓ Superior reservoir quality expected in crestal location



“11% - 20% Recovery factors modelled”

of which we were told the 20% only applied to the Upper Basin Floor Fan ("UBFF").

As such, it seems reasonable to assume the ~200 feet of UBFF is believed by management to be of significantly superior reservoir quality compared to the Lower Basin Floor Fan ("LBFF").


Even in the extremely unfortunate event of the multi-fracs of the LBFF all experiencing similar problems to the single frac SMD,
~200 feet of much shallower and better quality reservoir is a major discovery in it’s own right.

Successful flow test of UBFF alone could be worth considerably more than Pantheon’s current market cap.


Definitely not a "all-or-nothing bets (or close to)" or a one trick pony. The top pony is a pretty good bet imo.

Any caveats you think should apply, apply!

[carrr595] 09/3/2022 12:33

Any rough ideas of when we could expect news? ( two weeks?)

[cezuan] 09/3/2022 10:35

everybody that wants to secure profits so far and would have de-risked post SMD otherwise @soggy
not everybody enjoys all-or-nothing bets (or close to)

[soggy] 09/3/2022 10:30

I presume that there is a bit of an incentive for bond holders, if they are that way inclined and have the financial clout, to try and push the share price down before the date the quantity of shares is calculated.

But who would short or just plain sell a chunk when the news of TW could land at the same time...?

[retirementfund] 09/3/2022 10:19

$6m question is where do we all see valuation next month if Basin Floor Fan is commercial at Theta West

[johnswan193] 09/3/2022 10:08

Why would they repay in cash? They are not earning cash, so until that happens or until they do a placing to take out the CB everybody should expect repayment in shares. Another reason might be if operational costs were to come in materially less than expected, however that's highly unlikely given the delays and remedial work.

[dhb368] 09/3/2022 10:02

I thought that there was a chance that the first repayment might be in cash if everything went well, but I suppose after the mishap at Talitha SMD-B they are looking towards securing resources for the 'Alkaid 3' well.

The run up to November could be very significant for PANR with all of the focus on energy independence, high oil prices,(hopefully) proven oil at TW, production from Alkaid and SMD at Alkaid 2 and 3

[chris0805] 09/3/2022 09:43

RNS out... Quarterly payment of CB in shares.. Not unexpected?

[bit coin] 09/3/2022 09:17

Morning all on this fine day with one less day to wait for TW testing results........

Are we expecting satellite pictures of any flaring, as we did from Talitha, this time and if so how long into the test do the 'drilling experts' expect to see evidence of a flare?

tia

[antique7879] 09/3/2022 08:42

Good morning Telemachus. Firstly, many thanks for your earlier post, which I voted up with my 4 remaining PlusOnecoins.

If I may, could I please request your thoughts on this article (link attached to the end of this post) on the applications of micro-proppants in the enhancement of oil and gas production?

I wonder whether the conclusion of the article could provide a solution for the SMD-B issue.

This scientific article states that proppant embedment occurs when the formation rock is considerably softer than the proppant. Under high compressive stress, the proppant penetrates into the fracture faces during the pressure depletion (3-day period owing to the Blizzard ?) resulting in a decrease in fracture width. Consequently, high conductivity loss is induced in relatively soft formation.

The article goes on to state that there is a close relation between the amount of proppant embedment and the given rock stiffness and stress which, in turn, is influenced by the mineral content, chiefly the type and quantity of clay minerals within the rock mass. For strong shale specimens, shallower proppant embedment was observed; however deeper proppant embedment was achieved for shales with the elastic modulus less than 6.89 GPa.

This review concludes that using micro-proppants can improve the efficiency of the hydraulic fracturing treatment, leading to enhanced oil and gas production.

[senttothegallows] 09/3/2022 08:33

Interesting to see share price 5p below US price can't see this lasting IMHO