Share Name Share Symbol Market Type Share ISIN Share Description
Pantheon Resources Plc LSE:PANR London Ordinary Share GB00B125SX82 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -1.70 -4.49% 36.20 850,486 12:36:33
Bid Price Offer Price High Price Low Price Open Price
36.20 36.80 38.40 36.20 38.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.72 16.75 10.54 3.4 182
Last Trade Time Trade Type Trade Size Trade Price Currency
12:54:58 O 10,000 36.206 GBX

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Pantheon Resources Daily Update: Pantheon Resources Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker PANR. The last closing price for Pantheon Resources was 37.90p.
Pantheon Resources Plc has a 4 week average price of 27.70p and a 12 week average price of 25p.
The 1 year high share price is 48.20p while the 1 year low share price is currently 6.80p.
There are currently 502,758,713 shares in issue and the average daily traded volume is 3,954,183 shares. The market capitalisation of Pantheon Resources Plc is £181,998,654.11.
gorgeousgeorge01: "Exactly how that pertains to the PANR share price prospects. Will remain a mystery to me unless a chartist can explain???" The critical point is that the market price is not merely a passive reflection of some 'fundamental value'. There is a reflexive relationship between prices and fundamental values - prices can and do affect the fundamentals of the case. It follows that speculation alone can often deliver upon one's price expectations, irrespective of the so-called 'fundamental' reality. Expectations always diverge from reality. It is a question of degree. Technical analysis affords insight. Technical analysis also provides insights into the prevailing trend. Inflection points are important. You don't want to be standing in the way of the crowd. It is important to identify the turn and profit from it. You cannot rely on fundamentals - you can't know what they really are and can only base your decision making upon partial information. When I first became active in the market, I eschewed technical analysis. It was a dreadful error. Price has memory.
chris0805: I would like to thank all who contribute with oil industry backgrounds & those with financial backgrounds & the time they have sent with spreadsheets doing analysis for value per share etc. I am (possibly in ignorance) wondering how & where the chartist contributors come to believe that a chart can assist in something that will be as binary as what will happen to PANR in Q1 2021...... I get that the charts use past performance to predict future share price .. that should work well for companies with an established revenue stream and will take into account seasonally changing prospects of many business models. Exactly how that pertains to the PANR share price prospects. Will remain a mystery to me unless a chartist can explain???
redhill9: Thanks forwood, that's what I'd guessed. However you go on to talk about "value" which is a very different issue. I don't for one moment dispute that Pantheon have greatly enhanced shareholder value by the issue of new shares for cash. What I am referring to is very simply comparing share prices between two different numbers of shares in issue. A very basic example: If a company with 100m shares in issue and a share price of 100p decided to do a 1 for 1 share issue (e.g. to increase liquidity) there would now be 200m shares in issue with a share price of 50p. The market cap hasn't changed but anyone comparing the share price before and after the issue (say, by reference to charts) would get a completely wrong idea if they thought the value of the company had halved. Therefore comparing share prices without recognising changes in issued shares gives a misleading result.
redhill9: btgman, not sure if you misunderstood my post #4048 or if you're agreeing with me! My point is if a chart is comparing two share prices, one before and one after an issue of additional shares, and doesn't make adjustment for the dilution then the comparison is flawed and I was asking those who had posted charts and comments whether their charts took account of this. To clarify: 1) Shares before new issue: 605,229,768 x Share price high 48p = Market Cap of £290.5m 2) Market Cap of £290.5m / Shares after issue of 678,986,082 = Share price of 43p Therefore, for chart and other comparison purposes the current and future share price should be compared to 43p and not 48p, i.e. adjusted by c.11%. (Note: in my earlier post I said 42p as I'd adjusted by 12.5% but using actual figures gives a rounded figure of 43p). I wasn't in any way trying to give an indication of value and fully accept that the dilution has enhanced shareholders' interest in Talitha significantly, I was simply asking whether charting allows for the dilution because if it doesn't there is a flaw in the way the charts are presented, and any conclusions made.
steved: michaelsadvfn27, when the share price hit 48p the focus was almost totally looking towards a FO and with it a minimum of 50% dilution, with some uncertainty over a successful outcome leading to a winter drill? With the recent turn of events dilution is only 12.5% and we have certainty that the Talitha drill will be spudded around mid Jan and we remain masters of our own destiny. A quite brilliant conclusion. Consequently and all things been equal the share price should move well ahead of 48p, pre-drill. We can also be assured that our BOD remained calm and firm during the data room discussions with shareholders interests very much at the centre of their thinking. Without this we could have been most disappointed with a less than satisfactory outcome. Thank you PANR for protecting our potentially mouth watering assets on our behalf. In a success case we all know we will be in a far, far stronger position than would have otherwise been the case. Furthermore and quite incredibly the COVID nonsense has only made our assets more desirable as Jay alluded to in the recent interview.
scot126: Dear All - thank you very much for the PB feedback, much appreciated at this end. I have to say, on first glance it does look to be a rather interesting and efficient new participant on the equity scene. Something michaelsadvfn (I think?) wrote a few days ago has remained with me. He was pondering how many share prices remained above a placing price. It's a difficult call as at some point you have to accept xyz stock becomes subject to the vagaries of wider market swings, macro events, pandemic, etc. What's a fair period of time to gauge whether a placing can be termed a "success"? A week for some, a month for others, a quarter, a year or until the next corporate action? All are valid for different investment horizons and requirements, I guess. I bet you somewhere out there in a uni Economics faculty there's data which has been collected in an attempt to come to some rough conclusion. Has anyone, a journo, investment magazine, a twitter peep kept track of the relative success of PB placings? Can anyone point to such research please? I'm wondering if PB tend to get involved when a corporate or broker are fearful they can't raise the minimum amount in a planned fundraise? Maybe it's when a corporate wishes to ensure their private shareholders are offered the same opportunity as instos? Maybe it's becoming the norm for small cap corporate actions? Huh, all very interesting. Ok, to specifics. It sounds like most folk now have the PB shares allocated to their share trading accounts? It doesn't appear to me that there's a tsunami of stock heading our way, which I didn't suspect would happen, but there was always the possibility? *Feels* like the PB stock has gone to informed holders in the main? Plus, we know that Canaccord confirmed to me, in person, that the PB proportion was under 10% of the total raise. All makes sense to me. I’ll confess to being a wee bit surprised that the share price hasn’t moved higher since the placing was closed having raised $30m v’s the $18m minimum. Yes, the acceptance of “overs” on the book can suck out a bit of energy but I must admit I thought the long-awaited answer to “can PANR actually get Talitha drilled this coming winter season?” might have led to a more, hmmm, buoyant response? I guess I’m basing that belief on the positive energy surrounding the stock in the run up to the webinar. There is an incredibly strong argument to be made that the risk v's return has moved markedly *in favour* of shareholders now that the drilling of Talitha is pretty much guaranteed, IMO. That said, there was a spectacular amount of stock traded on Friday, 20th November about which, I confess, I cannot follow the logic. That selling volume could have accounted for those buyers who had been waiting on the sidelines until Talitha was fully-funded? Perhaps if/when TR-1s are published the machinations will become more clear, but maybe not? Between yesterday’s Blythewrigh’s interview and the webinar, it does appear there’s quite a bit of newsflow heading our way up until spud date at the end of January. - TR-1s from institutions/HNWs joining the register? - #downdip SMD Technically Recoverable Resource (TRR) upgrade - Confirmation of rig and crew being contracted [tick] - Ice road begins construction (8 miles) - Drilling applications lodged and permits granted - First TRR guidance on the Slope Fan System - First TRR guidance on Leonis - First TRR guidance on Basin Floor Fan - First TRR guidance on Theta West “perhaps”; - Mobilisation of the rig leading to temporary closure of the Dalton Highway - US PR campaign to get under way in earnest in lead up to spud - Webinar in the last week of January
pro_s2009: Share price action is like a self fulfilling prophecy many times. Insti's had their fill in the placing. PI's had their fill in the placing. Everyone expects people to flip stock for a 10% gain and expects lots of selling. Therefore everyone stops buying - waits for the stock to be on the market (26th Nov) and then waits for selling. When the share price starts to move upwards on 26th or 27th or 29th Nov then those who were waiting for a fall, to start to buy. Then everyone who was waiting says "its rising" and better buy now. And so it is.........the share price remains weak as nobody wants to buy and all expecting weakness and then, like a herd, they all start to buy when it starts rising..............
btgman: Firstly congratulations to all at Pantheon/Great Bear I think we will look back on today as transformational for so many reasons. The barrier to valuation and the elephant in the room for a long time now has been funding/farm out. With today's $30m raise this has now been removed. So what does this really mean for Pantheon currently broker note valuations are Arden 70p Cannacord 76p and W H Ireland 75p. The math behind their valuations was generally based around a 50% dilution. Taking the 11.2% underlying fully diluted raise has the affect of increasing the valuation by circa 80% What also needs to be thought through is that further upgrades for down dip, Slope Fan, Basin Floor Fan Theta West and Leonis may need to be calculated at 89.2%/100% Ultimately the 4 zones in the Talitha wells will be binary events they will either succeed or fail. My own valuation based on today's numbers for the respective parts of Pantheon on a success case basis are as follows Alkaid 63p Shelf Margin Deltaic £2.56 Kuparuk £1.40 I will leave it there for now and wait to see what additions we need to make for down dip and the other upgrades as they come through. It is pleasing to see the door is open for a farm in but I suspect this would be on different terms i.e we don't need a 50% partner, if you want in you have to pay back costs and the percentage available would presumably be less.For those who have looked at this Pantheon are currently about to drill the biggest well in the world in the early part of next year you can see from the numbers above what happens to valuations if any zone comes in. Does this bring things forward or possibly even trigger a bid. I doubt the share price will remain down here for very long at all and wouldn't be surprised to see the share price at multiples of the current share price over the coming few weeks. AIMHO GLA BTG
2022 will be the year: It will be interesting to see how the share price reacts tomorrow. IMHO, it should be flat or higher as we will be definitely be drilling in early in 2021. It's a binary bet, but if Talitha comes in , we will be in multiples of where the share price is today. From what I remember from Dec 2018 when PANR and Great Bear combined there was a placing around 15-16p yet the share price reached around 20p? soon after the deal was announced.
scot126: Pro_S2009 - appreciate the "view" label, so in the same spirit here's my reply to your post #3444. "Shorters are going to make a load of money if there is a discounted placing." [scot126 - no evidence of shorting on the FCA spreadsheet, so if there are any shorts (which I doubt) they must be relatively small, <6m shares each. Such "shorters" better be the siblings or spouses of the Canaccord bosses because *if* there's ever a placing, this strategy requires "shorters" to be *guaranteed* to be included in the book for their entire short. The consensus view is that once the Talitha-A well is financed, via a farm out or any other mechanism, this share price will rocket. A very dangerous strategy IMO if indeed anyone is positioned that way, which I doubt.] "Shorters will lose a lot of money if no placing and there is a farm out." [scot126 - agreed 100%, and it'll be an extremely costly exercise to close any short following such an announcement as there are now far too many educated and informed stakeholders, post the recent webinar, who will understand fully the implications of a financed Talitha-A well spudding this coming January. It would be so costly, and such a defined risk that, as I said above, I doubt there is a shorting strategy afoot.] "MS will take short term margin pain if a placing, but soon recover as price goes back up." [scot126 - I think we can be more categoric in rebutting your point here. We know that MS bought his 16.1m shares <20p...that's a published fact from 26/7/19 and from the placing done that summer at 18p. The stock he bought which caused yesterday's TR-1 to be issued was due to activity on or about 11/11/20. The stock was trading at 27-31p around that date so that would have to be a hell of a variance from today's price to hurt MS. His average "in price" must be circa 21-22p (16m @ 18p + 4m @30p) so that would be a helluva discounted placing price to cause him any pain, lol!!!! Even for the derivative position alone it would take some effort to cause MS any pain whatsoever. But I do agree that on any "Talitha-A going ahead" RNS, by whatever mechanism, we'll see the share price go up, and go up markedly.] "MS will make a nice tax free profit if no placing." [scot126 - I suspect strongly that MS will employ some of the very best tax accountants in the land so I'm going to leave that particular issue well alone. :) ]
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