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
  0.50 0.84% 59.90 3,044,285 16:29:57
Bid Price Offer Price High Price Low Price Open Price
59.90 60.30 61.00 59.50 60.70
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.09 -21.71 -3.39 395
Last Trade Time Trade Type Trade Size Trade Price Currency
17:46:29 O 114 60.158 GBX

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Pantheon Resources (PANR) Discussions and Chat

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Trade Time Trade Price Trade Size Trade Value Trade Type
2021-09-17 16:50:2060.1611468.58O
2021-09-17 16:46:0760.044627.62O
2021-09-17 16:08:2859.905,0323,014.32O
2021-09-17 16:05:5859.9025,00014,975.00O
2021-09-17 16:00:2960.1021.20O
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Pantheon Resources (PANR) Top Chat Posts

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 59.40p.
Pantheon Resources Plc has a 4 week average price of 48p and a 12 week average price of 35.55p.
The 1 year high share price is 66.70p while the 1 year low share price is currently 18.04p.
There are currently 659,368,196 shares in issue and the average daily traded volume is 5,636,265 shares. The market capitalisation of Pantheon Resources Plc is £394,961,549.40.
forwood: HD - while none of us knows when we may get news of either a farm in or a fund raise, there is at least 8 weeks before it begins to be critical. Last year the fund raise news was released on 19 November. As they are still making presentations to brokers and potential investors, one might infer that all options are still on the table. Given these presentations (and for the avoidance of doubt, I only know of one such, which happened yesterday), I think that recent share price strength is likely the result of people buying on the strength of the investment case rather than any other potential reason, such as pending news of a farm in. Although perhaps too soon to judge, the fall back from 64 suggests that we may need substantive good news on funding the winter drill campaign before the share price can advance beyond recent highs. Alternatively, there may be many potential investors still to impress who will push it higher.
hiddendepths: I suspect this is being range traded in the absence of shortly expected news. I guess that's fair enough as long as it's done from the long side. If traders are starting with a short expecting to close in a week or so for a 10% gain they are taking quite a chance as a price-enhancing farm-out could drop at any time. I hope the share price hasn't been rising as the company parades its virtues while making soundings for a placing. Actually, come to think of it, that wouldn't be at all bad! Hopefully they don't use PrimaryBid to screw it up this time. That seems to be a guarantee of the share price falling to the placing price or below. We don't want a load of short term speculators who know nothing about the company piling in and looking to get out pdq. Some share prices take a couple of months to recover from a PrimaryBid placing.....
mike290: Pure opinion... Based on past performance, it is really difficult to imagine that Pantheon will be unable to raise funds sufficient (through a farm-out, fundraise, a mix of both or some other means) for its planned winter program as soon as they are required. Once one accepts this idea together with the idea that such financial arrangements will be finalised soon, the current market value of Pantheon at £388m with no debt(at 58.7p mid) is too low. After the near doubling of Pantheon's share price over the last 10 or 12 weeks - despite Farallon's activities, it has become obvious that small daily or weekly fluctuations in Pantheon's share price are of little importance to those buying the shares previously owned by Farallon.
michaelsadvfn: The BOD make numerous minor errors , all added together it creates a lack of trust , not total loss of trust but a lack of it . Which is why the share price is a fraction of fair value. ...and I suppose management errors were also to blame for the share price falling from the high 40’s to sub 30p when in fact it was Farallon selling that caused the drop? It’s rinse and repeat but you fail to see it, instead you convince yourself that management errors have led to a lack of trust and hence another fall in the share price. How a falling share price can affect one’s mental stability eh?
winner66: I’m not sure about ordinarily to be fair . The share price rose the day of the webinar circa 20 percent . We had pencils being sharpened. 4 things of note have happened since the webinar 1. The house broker produced a damp squib of a revised note. 2.WH Ireland produced no note post the webinar , guess they couldn’t find a pencil sharpener. 3. Faralon continue to aggressively sell. 4. The share price is in excess of 20 percent down post webinar. I’ve said it before and I will say it again , the engineering/technology/ best guesses mean nothing. The company have had opportnity to do far better on numerous fronts , not least the last winter testing chasing the high fruit . A fund raise to buy out Fs shares via trust , to replace options for our bod would be a good move and would prove numerous things , not least faith.
chris0805: Going back to when the 27p staff options were the subject of an RNS, the share price was in the low 20's from memory... the share price began to climb & I posted *good to get to the 27p options level*, for the staff in receipt, for their efforts to date. I was told by several posters, that the staff wouldn't get the options until they were to be sold.... At that point the 27p would be paid at the same time the sale proceeds were received. So if they were sold at say an share price of 100p the staff would in essence have received 73p per share ( ignoring dealing costs).If that premise is correct, why now..... ?Is it a sign that a deal for farm in is close perhaps? I am slightly intrigued by this timing to say the least. C
scot126: Hi responsible investor - I must admit I have a fair degree of sympathy with the general point you're making. I appreciate fully the shortcomings of CoS statistics but plenty of other E&P companies release guidance on those figures (admittedly not all do). If my understanding is correct, PANR's CoS for Talitha and Theta West ought to be very high such is the database of clean and *consistent* data collected at the four wells drilled by GB/PANR during the last decade plus the records they have re-analysed from Pipeline State No.1, 3D seismic, etc, etc. It's a bit of a "No sh^t, Sherlock!" statement to repeat that the equity market has not yet fully realised the potential scale of PANR's Alaskan asset and the degree to which PANR has already advanced the scientific threshold of proof. I do appreciate and accept some in the market will be wary of PANR's history in East Texas which would certainly justify a discount to fair value when examined objectively. But to continue trading at a discount of >100p v's the house broker's fair value price?.....something's not clicking and/or the investment case isn't being rammed down the correct throats! If the company were to release post Talitha-A CoS guidance to the market and *if* my interpretation of the information currently available is correct then, on an absolute *and* comparative basis, PANR's risked numbers would look extremely attractive. The differential between the current share price and revised fair value estimate would be even more stark than it is now, no question about it. At a time when we know the company is negotiating with sector corporates and when a strong share price would increase the jeopardy to ensure farm in terms were "commercial but acceptable" I must admit I fail to understand the apparent reticence to release this guidance. It is only fair to state that I am not in possession of all the facts so there may very well be an extremely good rationale for this policy. I'm simply saying that the rationale escapes me at time of writing. As for estimates for the cost of the proposed winter season operations, I think a few of us have got a reasonable handle on that. A combined flow test of Talitha-A and new drill at Theta West could be in the order of $20-25m (both projects will require an ice road, likely the one road, westwards from the Dalton). A standalone lateral production well at Alkaid may cost approx $20m? So we're looking at a funding requirement in the order of $30m-50m for the three main operations outlined in the webinar, or a combination thereof. Like hiddendepths and others have posted of late, none of us active on this thread will be privy to the farm out negotiations under way right now so speculation on potential terms and timing would, in my professional opinion, be ill-advised and non-constructive. IMO this is one of these occasions when you have to place your trust in the BoD. They've exhibited more than sufficient evidence over the years of acting in shareholders' interests so I'd urge shareholders to let them get on with it. All we can do presently is to maintain the jeopardy, maintain the tension between the public and private/corporate markets so that we arm the BoD with the strongest possible hand when they negotiate on our behalf. When this topic is discussed, IMO it's always worth recalling a) all the directors are shareholders and b) CEO Jay Cheatham has not sold one share since joining PANR. Please believe me when I state that is a remarkably rare statistic for an AIM CEO who has been in office >10 years. GLA PS If anyone notices Canaccord or WH Ireland publishing a post-webinar note, please do let the thread know? Thanks.
brinstocks1: The PANR share price movement never fails to amaze me
bodroll: I loved Jay's comparison with the Oil Search acquisition of Horseshoe/Pikka development in 2017.-when oil price was lower-location far away from infrastructure -paid over $3 a barrel - on a similar calculation, our oil in the ground is valued at less than 30c a barrel at current share price.So, any likewise offer for Pantheon would be at least £6 a share. I.e 10 times current share price.Have I got that right?
scot126: No worries, Winner66. The research was kindly sent to me by a former fund manager client. I'm delighted to report he has, in recent times, invested in PANR. Ok, now looking at the WH Ireland reaction piece: 1) I'm impressed the analyst has taken the time to publish this reaction piece today, especially when he's given us all a heads up that he'll be publishing a more substantive evaluation when he finishes listening and assessing the implications of the webinar this afternoon. FWIW I also suspect the analyst will be using this note to deliver a sharp kick in the ribs to his buyside clients to prompt them to log on to the webinar. You can tell by the analyst's language that he's growing in confidence in the evidence being shared with him and his enthusiasm for the stock appears to have gone up a notch. I always liked analysts who didn't dilly dally and instead made it clear when they held high conviction views. 2) Looks like the company has done some serious work on operational budgets and they've applied some of the lessons learned at Talitha-A. That's quite a noticeable saving the company is guiding for the non-delineation wells ($23m v's $12m). Readers will recall the company has previously pointed to *potential* savings of up to one-third v's pre Talitha-A budget estimates. True enough, we're now reading this guidance in black and white. Great stuff. 3) The NPVs are spectacular IMO. Remember the following: a) no accounting for shared development savings, shared infrastructure savings, etc, etc and the positive implications for NPVs b) remember Bob Rosenthal's theory that the Alkaid well didn't reach o/w contact and it was his suspicion there could be a meaningful hydrocarbon presence in the next few hundred feet below the bottom of the hole in the weather-truncated Alkaid well c) the NPV tables appear to have been calculated using primary recovery methods and numbers only. Incorporating the various secondary recovery techniques employed successfully elsewhere on the Slope to these calculations could have a truly quite dramatic and noteworthy effect on the upside d) remember this is only the SMD-B and Alkaid.....can you imagine what the NPV table for Theta West (Basin Floor Fan) will look like???? 4) Hmmmm, something that stood out for me in the body of the RNS was the decision by the BoD to take head on the Federal land v's State land debate and the implications for the various parties active in Alaska. The language used was not dissimilar to some of my own, ahem, elegant prose. There was no obfuscation, no sitting on the fence. Rather it was a straight up and decidedly confident response to the recent confusion/uncertainty caused by the Federal District Court decision on Willow. IMHO this direct and confident messaging to shareholders and potential investors will be rooted in direct and continuing conversations with the political *and* regulatory civil servants working for the State of Alaska. Quite separately from the company, I am aware of efforts being made on the political front in Alaska. It has been reported to me that the State of Alaska politicians are *all ears* and are listening actively. It would surprise me greatly if the TAPS stakeholders weren't equally interested and supportive in order to gain access to PANR's light oil. Good stuff. 5) Opinion based on experience. It's really quite rare to read an analyst's formal coverage which contains a sentence such as, "Pantheon's assets are emerging as some of the most exciting American appraisal projects seen in decades." Analysts are, by and large, wary of publishing such views in writing for fear of it being repeated back to them if things go awry!! Make of it what you will but all I'm saying is that such language is quite rare in my experience. 6) This excerpt from the RNS stood out for me, "....putting the Company in a stronger position during these negotiations." That reads like the present tense to me. Regular readers will know I'm aware of a middle man/broker/introduction agent who has introduced two potential farm-in groups to PANR. Quite properly I don't know their identities nor do I know how the negotiations have gone with those two particular parties. What I can confirm is the middle man has stated the potential farm in partners are serious and he certified they both had access to the funding required to advance the projects further. No guarantees of course but I have zero doubt whatsoever such negotiations are ongoing. Please don't expect management to give us too much specific info on this topic this afternoon. The negotiations will be confidential plus, from experience, it won't just be equity investors listening to the webinar today :) The market is only just waking up to the sheer scale of PANR's potential. It is my firm belief we are only at the very beginning of the value add portion of the PANR/Great Bear/Alaska investment narrative. GLA
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