Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Jay is a month younger than me. It was his intention in the heady days of Texas to sell the company before he was 70. I just hope to **** he manages it before we both are 75!
JB Cheatham, Director, Pantheon Resources PLC - DOB February 1948 (Companies House)
(Part 4, continued from below)
Tue 12:58
Hi sittingbush - You’ll be happy to read that whether the company signs a farm out agreement in the next few days/weeks or not, it will not pose much if any of a barrier to the PANR BoD if they decide to put the company up for sale or not. This is one of the under-appreciated facets of the PANR investment case. It is in the *exceptionally rare* position of being a 100% W.I. owner of a potentially huge asset whilst being a relatively small and nimble corporate entity with only a handful of employees. The beauty of that scenario is the ability to make decisions quickly if warranted. As for Jay’s age and the express intention to prove up and sell on? I *think* Jay is in his early 70s but I’m happy to be corrected. My best guess? The company will be put up for sale following the winter 22/23 drilling season. I repeat, that’s a guess.
(Part 3, continued from below)
Sun 12:31
Hi Seahawk – I agree with your post with the exception of one word or suggestion. I don’t believe it is necessary nor advantageous to have a major partner up with PANR at this stage. Firstly, and really just for the record, whilst I suspect a farm out will be the option PANR chooses to fund the anticipated winter operations, my *personal preference is to go it alone for one more drilling season. That said, partnering with a major at this *relatively* early stage would, IMHO, reduce the jeopardy of a competitive bidding process in the future. I agree with you that if a major partnered PANR this month then they would undoubtedly be in the driving seat to “buy us out”. I admit that this is one of the reasons for my desire to go it alone for one more drilling season.
What’s the alternative? An oilco which isn’t a major? A specialist finance fund which seeks to advance the empirical data up the curve as expeditiously as possible, to advance up the value-add curve with the intention, like the PANR BoD, to sell at the point of maximum value *prior* to the necessity to attract the billions of capex required for full development plans?
Apart from that, it may interest some readers that ***if*** the PANR geological model and breakeven guidance is proven empirically then Seahawk’s potential target price of >£10 is a mathematical possibility.
Tue 11:29
FORD707 – not entirely convinced you’re correct about the “end of October-ish” timetable? During the webinar Justin Hondris referred directly to the calendar of events this time last year which saw funding secured by the last 10 days of November and the ice road beginning construction by the 10th of December. I’d be genuinely surprised if management hasn’t lined up these same contractors “subject to funding being completed”, wouldn’t you? Personally, I am happy to outsource this important task to the management. They succeeded last year when the POO was c.$40 per barrel *and* before the market knew about the extent of Theta West. That gives me complete confidence they’ll get it sorted for this coming winter season.
Like you, I’d be delighted to read confirmation that PANR’s first lateral production well will be drilled in the spring of 2022. Before that, however, I’d be even more delighted to read funding had been secured to guarantee Talitha-A is flow tested and Theta West is drilled and tested.
Selling the company/asset outright? Personally, I doubt the BoD would be willing sellers *prior* to the results from the upcoming winter drilling season. That doesn’t stop anyone from making an approach, however.
(continued above)
Sun 10:42
FORD707 – your post is noted and I follow what you write. Firstly, what you do with your investment pounds is no business of mine. That’s your call, not mine. Secondly, let’s break down the final two sentences of your post: “This is because SN are behind Pantheon I believe in terms of real value being proven. I do believe deeply in both.”
I agree it is a statement of empirical fact that PANR is far further along the road of proof of concept. This has been achieved by investing $80m in 1000sq km in 3D seismic, drilling four wells (Alcor, Merak, Alkaid and Talitha), VAS, AVO and a total investment pre-merger with PANR of $200m - $250m. So, as any objective analyst would judge, I completely agree with that sentence. On the other hand, “I do believe deeply in both” is a whole different kettle of fish. That’s placing faith and hope ahead of fundamentals. And once again, that’s cool, it’s your own call and you’re free to back that faith and hope with your own hard earned any time you wish.
However, I contend that if you’re challenged on the fundamentals behind that faith and hope, you hardly have a leg to stand on. My posts challenging the SN investment case are pertinent, fully justified and legitimate. Sadly, you have opted to join a cabal of posters on the other thread who seek to delegitimise my fact-based challenges (and others such as Rabito79, olderwiser and cbaron) to the false narratives disseminated by prolific posters. If you were being honest with yourself and others, you’d cease this unattractive effort to intimidate folk like me from posting and a) engage fully on the journey to establishing the *facts* of the SN investment case and/or b) just come out and say that you admit your investment in SN is based more on fiath and hope v’s your investment in PANR. It would take bravery to admit it, but I note a few posters on the SN thread are now doing so. Up to you?
For the record, I think you are making a grave error in "believing" in the SN.
Sun 13:18
Hi Villa01 – it all depends. Of course it would make complete sense to do away with the man-made boundary on the surface and to produce from the reservoirs in the most efficient manner. That said and using your scenario, if a purchaser owns, eg. 94% of the total (after bidding for PANR in this scenario) then they can give the SN a “take it or leave it offer” or just sit on their hands until the SN is willing to accept their price. What I’m saying is that it might make sense, kinda, but all the power will reside with the 94% volume owner/operator, not the barnacle to the south of the boundary.
Serious question? Here’s a cricketing analogy passed on to me by my first mentor in the stockmarket. “Why invest in the back row of the stands when you can invest in the pitch, the crease and the wicket?”
Sat 13:34 and 13:02
Villa01 – your post does describe the human condition very accurately. And that’s fine. The trouble, for me anyway, comes when some social media/bulletin board posters disseminate the falsehood that the fundamentals, and even the potential as outlined by their own management, is supportive of the current mkt cap when it plainly isn’t by all sector standards. These posters are relying on the hype to hypnotise others (chiefly now US OTC punters) into impossible dreams of 10c/$1 per share in order to execute their own trading strategies. “Peaks and troughs” remind you of anyone?
I note with interest your quote: “It was reported last year that the share had attracted interest in some of the most impoverished parts of the planet, and let's hope those that invested didn't suffer financial loss they could ill afford.” I must admit I had not read any such report but it would grieve me to learn this was true. I’ll repeat for the umpteenth time that I recognise sentiment and human psychology is a factor in equity markets. My problem with the prolific posters is that they know the there’s *at least* £100m of hype in the current mkt cap but they’re continuing to seed the social media forums with content supportive of the fundamentals when no such facts exist. It’s made-up nonsense. They’re hoping to have another trading go-around, profiting off the backs of the very readers of their shameful posts. Shame on them.
FAO Villa01: Your post on Friday @ 22:08. Just making sure that you know that downdip is not necessarily a positive in oil extraction? If not, Google the difference between updip and downdip in the context of oil reservoirs. If it’s a metaphorical message you’re discussing in this post, I “get” it. The trouble is that the maths are out of whack in our case. I’ve calculated PANR should, on any given day using the information currently available, be 7x the mkt cap of the SN. @contrarian8888 calculates the number should be 10x and Rabito79 is >3x (happy to be corrected). In your scenario, you’d normally expect any good news from PANR’s operations to ripple outwards and “downwards” to the SN. The maths suggest that the opposite will happen and that capital will be drawn *from* the SN *towards* PANR because the evidence continues to prove PANR is undervalued and 88E is over-valued.
(Part 1, continued above)
@villa01
Big majors just can’t get enough new oilfields… Everybody knows that :-)))
https://twitter.com/ft/status/1412264155382439941?s=21
10.20 Fantastic post Newanda, exactly how I see it. I have taken massive amount of criticism on the various 88e boards but my commentary has always been routed in the fundamentals of each share. Call me old fashioned but I would like to see both 88e/PANR holders rewarded due to success through the drill bit and not at the expense of other naive investors. That’s the reason why I continue to post on the various 88e forums. The comments from the likes of Ddraig, Jiddy and even Brom (all be it much more subtly) don’t really put me off.
It has been fascinating to watch the 88e phenomenon unfold, however in my opinion there may be something more sinister behind it. Watching Dave Wall, Erik Opstad cashing out with significant profits on the back of a likely coordinated social media pump and relatively little exploration success does not sit right with me. Yet I have been the one labelled ‘despicable’, ‘a troll’, told to ‘watch I don’t get shot’, for trying to keep investors aware of the fundamentals.
I don’t believe these boards should be for the cheerleaders or holders only and admittedly quite enjoy the spirited debate and will certainly bite back when someone has a pop. Likewise I genuinely want success for the ‘true 88ers’ but have the same loyalty to them as I do people not yet or considering investing. Good luck all.
10.20 & 10.21 Newanda plus answers/ questions from others Villa, Ford, Seahawk, really good posts. Sorry I can't add more. Nothing else to say. Have a great day.
GS
10.20 & 10.21 Newanda plus answers/ questions from others Villa, Ford, Seahawk, really good posts. Sorry I can't add more. Nothing else to say. Have a great day.
GS
Seahawk
In your opinion do you think a takeover by one or several majors would also target the neighbours next door? Is it a fantastical notion that a major might consider that huge area as one investment?
I am really hoping one of the majors joins us this winter or next. Whoever it is will almost certainly be the one to buy us out, if we hit the jackpot so they will need deep pockets. Actually due to the size of this oilfield it may take several majors to take it on. The absolute bonus of its location is that they will be able to bring it online extremely quickly, this will not take 5 years or so any big company will be able to start selling oil within a year or so. Hopefully if required PANR will be able to open up a couple of wells next summer that will be able to provide finance for the future, eg no more cash raises. This could be sold next summer if all goes well or the following year after a few more proving up wells, we will see. There is every potential for this to get well over £10 per share in my opinion.
This clip springs to mind...
https://youtu.be/n9y2qtaopbE
It’s pretty simple if you ask me. Nobody is going to want to believe that they are completely wrong with their investment. Their dream of a fortune or making money will not happen. They and so many others are completely wrong investing in 88 and are being told this by Scott. I respect and always have your time and knowledge, however fighting people on the 88 board is something I find peculiar, annoying and pointless. I get it’s frustrating for you. It’s like telling someone to do something and asking someone to do something. Most of the time you get you get two completely different responses. The way I see this is I’m invested in both. Pantheon I never consider selling as I know it’ll go higher and higher. On the other hand with 88 I do have a target that I will probably sell half my holdings and see what happens with the rest. This is because 88 are behind pantheon I believe in terms of real value being proven. I do believe deeply in both.
GLA
The fundamentals here can only be described as fantastic. Is the SP low, yes it is but it has climbed very nicely this summer. This is just a case of being patient and picking up more on the dips. If I could wait 15 years for Dragon Oil I can wait a couple of years for this which will eventually be massive. I think at the moment the figures are just too big for PI to understand and they are only going to get bigger. Anyhow it matters not what investors think its worth it matters what industry think its worth and they will evaluate this as massive, especially as its not on Federal lands and that the infrastructure costs are going to be so much lower due to location next to the road and pipeline. Good luck all.
Scott
Mulling over your question again, I think that perhaps your fundamental model is to some extent being ignored or dismissed as it could potentially cause a ripple effect on those that choose to read it. There may well be some that feel your scenario would undermine the strength that holds or binds "true 88ers" together, and that your opinion is too outspoken to be discussed logically for fear of opinion swing.
Have I answered your question, Scott? Obviously based on my own opinions and somewhat limited knowledge of the subject compared to some.
10.20 I totally agree with you that the "fan base" and media hype has driven this share, and in my opinion has attracted investors that may have bought on the strength of a number of likes on somebodies twitter post rather than fundamentals. It was reported last year that the share had attracted interest in some of the most impoverished parts of the planet, and let's hope those that invested didn't suffer financial loss they could ill afford. Some will argue there is no place for sympathy in AIM or other markets, but it's easy to see how some could be caught up in hysteria.
It's refreshing to be part of a post that raises discussion rather than animosity or challenge. I will raise a G+T to that later tonight, whilst wishing all good luck in both shares!
And that's the BIG difference - the fundamentals - the bit that is where all the risk is, the bit that is part down to the geology, location and a bit of luck that cannot be achieved through tweeting it can only be achieved at the drillbit. But if you get the fundamentals then the awareness can be bought with a comms strategy. Hence why I view PANR as the significantly lower risk investment for significant gains, and 88e the more speculative. But as I said, I believe good money will be made on both.
Good luck for the coming drilling season whatever your investment strategy is.
Good morning,
The sole purpose any of us investing is to make money. In my view both companies present good opportunities to do so but for very different reasons.
PANR's investment case is far ahead of 88e on a fundamental basis. The success case is clearer, the risk to success is lower, the economics of success are better. And the narrative on the fundamental differential of the two cases by Scot126, Olderwiser, Rabito and others I believe are sound.
The big difference between the two cases outside of the fundamentals is the level of awareness and "fandom" in the markets. 88e as we all know have a huge fan base, there are 88e Facebook and Twitter fan clubs and social media "influencers" promoting 88e with thousands of followers who people follow the advice of - sometimes I would suggest quite blindly. This fan base is, I would argue on the whole, inexperienced and do not understand the fundamentals of the cases, but are in love with the idea of turning 1.7p into 50p and lack even the most basic appreciation of what that means from a MCAP perspective - instead seeing the unitary value of a share being in the pennies as meaning it is more likely to rise to a higher price than would a company whose unitary share being in the pounds regardless of the MCAP.
But what that 88e fanbase means is that on the whiff of any positive news, and on the run up to the 88e drill programme, we could and should (as has happened every year for the past 7 years) expect a hike in the share price, and this year quite possibly an even greater hike than previous years given the reach the company now has. It won't be down to fundamental appreciation (unless of course there is FO news along the way), it will be down to hype and hope. But making money from hype and hope vs. fundamentals still means you are making money. Interestingly, PANR also started to see some of this as well when Contrarian888 with 15k followers on Twitter started to present the PANR case albeit on a much smaller scale than 88e has achieved and also linked to a much sounder fundamental case.
Don't get me wrong, do I think 88e has some fundamental basis for investment? I do, but a much weaker one than PANR. But I believe we have two companies here which almost have the inverse investment cases when looking at how money will be made.
PANR has almost unbelievably good fundamentals but very little awareness. The big money will be made when the awareness catches up - which it is starting to do btw.
88e has almost unbelievably good awareness and fandom, but significantly weaker fundamentals. The money will be made in the short term from fans reacting to anything positive that bolsters the fundamentals, and longer term IF the fundamentals come through.
22.08
Just one more, pretty blunt and basically vulgar way to think about it;
S@#t flows downhill, Yes? So if PANR start to produce next year, and they are at the southern edge of the stream, does Eureka not spring to mind that "carry-on pumping, lads" is a scenario?
Now I'm a PANR ramper. Lol.
Ahh Scott....
To be honest I have been expecting this, or a similar question for some time now, and before we go further apologies if the quote regarding Hampshire constabulary offended.
In my line of buisiness I tend to listen, read, evaluate and then comment once I know the facts. It is plainly evident you know your stuff, and hence I have refrained from entering debat as A. I would look a c-'=k and B. You know your stuff.
It seems to me that some may view you as a threat to the indoctrinated share holders invested in 88. The truth is there seems to be a divide on not only 88 but other Bb's on LSE that support a distinctly diverse reader; those that are involved or employed in the financial industry, and those such as me that have no financial training and come from different backgrounds that have invested in shares. Google and search engines reveal numerous media that some find attractive, and sign up to in the belief that they might gain information that will aid them to make money. After all, isn't making money why we are here?
I digress slightly, but back to your point. It may be said that at times your posts can be somewhat abrasive, and I put it down to two scenarios;
Either you know (or think you know the answer),
Or you are goading people into making (or submitting) information that is incorrect or misleading. I seem to swinging in favour of the first scenario, and thank you for the knowledge I have gained over the last few weeks.
It is evident that 88 has gained "cultish" status over the last few years. The mere mention of "I.pending RNS" lights up twitter, reddit, ADVFN and countless others claiming a "10 bagger" or other such bull****. I have made money on it, so what. I still hold 88 as I do PANR, and tend to use such bb's as a "guide".
You have been accused of being a ramper, De-ramper, and other things, been subject to "hit the green button" filtered but not by me.... I keep reading and evaluating your posts. A few weeks ago I asked myself the question "what does Scott 126 know that I don't...." I can't quite answer that just yet, but I'm getting there (I think).
Now I'm sure this post will attract negative comment from some, but hopefully will also enlighten others. If some do choose to berate or belittle me on grammar or similar, you would be better using your energy on somebody that gives a f@#k.
17.27
Villa01 - yes, the "to even be talking about a column of oil half a mile thick...." quote is by Roger Young of eSeis. He and his co-founder of eSeis are credited with discovering the Alpine oilfield earlier in their careers. eSeis received a 1% ORRI for Talitha and Theta West in lieu of a $2.7m fee due to them from PANR a couple of years ago. Certainly food for thought if Roger Young said that, a guy who has already found a >1.2bbo oilfield in Alaska.
Villa01 - answer me this please? You've done me the honour of reading some of my work, which is appreciated at this end. You'll now be aware of PANR's view of the percentage of the whole (by volume) they understand is located within their acreage. If you've watched the August webinar, you'll also know PANR correctly anticipated the phasing risk (gas rather than oil) increases as the anomaly extends to the south on to 88E's acreage. You also know Erik Opstad and his contractor colleagues value Peregrine at $28m, the sector values Umiat at $1m and Yukon might (?) be worth a few bucks one day......why on earth is there this empirically unsound support of 88E v's PANR when all the data (and I do mean "all") supports PANR being worth an order of magnitude larger than 88E using the information currently available? And yet PANR's mkt cap is roughly only twice that of 88E's. Blind hope like that is cultish in nature rather than intellectual, agreed? What fact-based argument is there to support that comparative valuation imbalance? I've been searching for months now and I cannot find an argument for it and nor can anyone provide me one on the other thread???
Thanks Scott.
Very interesting. Circa 75% of the field, close to infrastructure and half a mile of oil.... people don't make such comments without research and confidence.
10:59
FORD707 - I thought you'd never ask! Here are my latest thoughts. You're welcome.
https://twitter.com/GeodesRock49/status/1448676827573014528
What are your current thoughts here Scott?