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They have a presentation and will have interpretation in the coming weeks like us. The well will be interesting for them and us from a data/insight perspective but will take time. They didn't have a ramp before the results so its pretty poor that they were cut in half, they have already said they could have 5 discoveries in that well over 3,700ft...interpretation is everything...AIM participants is the actual problem...
PANR RNS not great for short term SP of panr but very good for our long term SP imho.
Just shows how tricky exploration can be, even proceeding to flow testing still means the results can disappoint. But all adds to our understanding of whats under Icewine, and no doubt we can feed in to our plans for where to drill and what is more likely to be successful.
The RNS is vague, maybe the presentation will provide more but I thin k their comments the SMD is better than first thought and the Kaparuk is better to the south east is on the face of positive for our acreage but will depend on the detail from the analysis.
lets focus on what merlin can come back with...
07.57 - Yeah they went for a Hail Mary on the Kaparuk and F'ed it...similar pattern of good data to gain understanding but no cigar. Alaska really in lots of ways is inefficient due to the short seasons...they do have Alkaid this summer but in general, everyone kinda goes to sleep till December time again...
Will this have any effect either way on 88e though that's the million £ question? It just seems like another oil company giving bad news with a good spin at the end to me? Not the royal flush that was expected but still 3 of a kind. That kind of thing. The money shot wasn't great but the other layers are still very promising. We'll find out next year. Here you go donkey, a nice fresh carrot for theend of your stick should see you through winter
flexmw 07:35
Alaska holds ALL the Aces & this release from Pantheon proves just that. Not just a case of drilling on the North Slope & flowing oil. There are so many minor roadblocks which ultimately prevent flowing oil.
I suppose, what I am trying to say is that 88e are no worse or better than anyone else up there in Alaska.
Nothing in the oil industry is ever going to be easy or a giveaway.
We are still in this game, as are Pantheon & we will just have to be patient to wait & see.
Continued GoodLuck to All Involved.
keefy
Panr rns dated today. Keep up
https://www.lse.co.uk/rns/PANR/operational-update-talitha-a-well-kl1a0pufm8ailss.html
I believe that Simon (original poster) means the latest RNS.
About the “payment”
Jof.... that’s last week’s news I think you’re talking about.
The latest RNS is this mornings.... paying a contractor 44mil shares instead of cash....
My logical thought on this is..... why would a contractor or anyone take shares instead of cash? Simple...because they have confidence in the project/s / company and therefore know the shares are going to be worth much more.
This is only positive
Pausing til next winter. Some details pertinent to 88e....
'The Kuparuk horizon at this location was overpressured which was both unexpected and unlike any known Kuparuk well regionally, which caused challenges in testing. The four normally pressured shallower zones, all of which encountered light oil and offer excellent potential based upon analysis to date, will be tested in a future program.
The Company collected an enormous amount of drilling, logging and testing data which will be evaluated. Additionally, Pantheon has engaged the experts at Baker Hughes and Advanced Hydrocarbon Stratigraphy ("AHS") to provide Volatile Analysis Service ("VAS"), a comprehensive, sophisticated and independent evaluation of hydrocarbon presence in the well bore, using mass spectrometry analysis of well cuttings. Pantheon also used conventional data collection techniques including 'Logging While Drilling', mud logging, side wall cores and an entire suite of wireline logs'
AND
'The SMD(shelf margin deltaic) was not as well developed as anticipated at Talitha #A, however based on our new data Pantheon now interprets that the SMD extends across the Alkaid project, and better developed as it extends south east across the Dalton Highway. This significantly increases the resource near the highway.'
May extend to Alpha?
Some very interesting reading, disappointing for them regards the Kuparuk & flow rates, overpressured & problems not expected. Still the think they have multi-billion OIP.
They also encountered a zone that they weren’t expecting.
This parts quite interesting :
The SMD was not as well developed as anticipated at Talitha #A, however based on our new data Pantheon now interprets that the SMD extends across the Alkaid project, and better developed as it extends south east across the Dalton Highway. This significantly increases the resource near the highway.
Our leases are south, south east of Pantheon’s & next to the Daltons Highway.
Rns out