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.
Shell exits Alaska
https://www.petroleumnews.com/pntruncate/231079521.shtml
3.8 million sale yesterday. How many more months can 88 survive before it delists? I been trying to warn people bs Bromby’s ramping this can’t survive so sell up (take the hit) and buy shares that will make you a return. The banks are not supporting, the dilutions have to be at bigger and bigger discounts - You can’t just print shares without continuing SP drops.
Monty, sounds very similar to PANR predicament, except 88E are fully funded for this year including Texas improvements and Namibia commitments 2024.
PANR have no income, laden with debt, no JV partner, no plan of action, hit 27 last week and will continue to drop next week until the dilution is voted on imo.
Taximan, you keep misinforming this board regards PANR. Your references to Pantheon share price given all time lows here are somewhat bizarre. Likewise your reference as Jay Cheatham being a financial guy particularly in light of Ashley Gilbert's CV.
As to no plan, Pantheon clearly laid out their strategic plan last year including clear steps, timings and finance options to get to financial self sufficiency. If you missed it here is the associated RNS, it has also been repeated and progress updated in multiple webinars and further RNSs since (one below also)
https://www.lse.co.uk/rns/PANR/webinar-and-strategy-update-bftlk9jpubzsuui.html
https://www.lse.co.uk/rns/PANR/strategy-update-smf7fo1pyxrli1z.html
In regards to recent drops, I am pretty comfortable with my PANR holding. Even with recent pull back they have ~tripled from lows whilst managing the convertible as discussed at recent webinar. They have similar cash available as 88e. Looking forward to the next IER and further updates on funding given all directors hold positions and therefore they are aligned with shareholders and will look to minimise dilution.
88e needs significant cash to progress just like Pantheon, but for a smaller resource with poorer productivity and from a lower market cap.
Note as per placing RNS it would appear that Longhorn will not be funded from placing funds, likely as they have indicated taking on debt via the $5M credit facility.
Given the inaccuracies in the above I am starting to see why you signed up for the wrong AGM.
You do know PANR have their own board, right?
Would be happy to counter Taximan on the Pantheon board, but it's this board he keeps making the misrepresentations on.
Rabito, wrong again, please read the post you referred to regarding JC as he was never mentioned as a financial guy.
As for being in a similar position financially to 88E you have no income, serious debt, dilution the only option to continue, no partners of interest in JV, plan of action you say regarding finance but no facts.
If you can only keep repeating errors and lies just return to PANR board where I'm sure you will be welcomed and fit in perfectly.
I expect 25 will be the new low next week, but as long as you are happy ;)
Just to clarify, my replies were initially to 888 (ironic) who is suggesting that 88E would have to delist, with my suggesting that PANR were actually in a worse situation than 88E.
Taximan, apologies I note your comment was referring to Justin Hondris who you then insulted alongside JC.
Glad you agree that Pantheon do have a plan, all be it you are ignoring the comments regards they remain in discussion with one party regards vendor finance and another regards offtake agreements (these are facts). Note if you think Pantheon will struggle to find partners for the massive discoveries they have made, I would suggest 88e will have even more trouble finding partners for the sh***y end of the same massive oil discovery. The plan is actually well worth reading for 88e holders as shows what is required to get to first production.
Note Pantheon's debt has not stopped a circa tripling from the lows. Hopefully 88e can do the same. Although Ashley Gilbert clearly didn't fancy the 40% discounted placing, maybe because he is a finance guy.
Let's hope the doubling of production in Texas which has been promised since day 1 comes to fruition as you seem to have baked this in despite them failing to deliver it previously. Let's hope the debt facility they have arranged for Longhorn delivers what they have promised for so long.
How was the 888 holdings AGM?
Rabito, apology accepted, we can't be right all of the time. I'm not sure why you consider being called a figurehead an insult as I put JC right up there, I just don't trust his team.
But again you are wrong, you really need to pay attention, 88E have interested parties in Leonis not Phoenix and that would be plural, not quite the same for PANR who are riding at the high end of a deep pool. If I was emptying a pool I would rather have the pump at the deep end than the shallow as it pumps more liquid. I guess when PANR have sucked out their few feet of oil the rest will belong to 88E, and PANR will be high and dry ;)
Taxi
Assuming you are being serious !
Oil is lighter than water, so where it is, or has been mobile it always moves up, so you want your pump in the updip section
@Taximan: ref your post about deep end of the pool.
Let's hope it's not too deep, as 88e will be challenged to find it, never mind increase the value of my shareholding!!
I politely remind you that since the death of the incredible Paul Basinski, 88e has turned into a pile of polar bear excrement.
Older, not serious but trying to stir the hornets nest of PANR infiltrators. I appreciate that PANR are in a better position regarding the updip, however financially they are in just as much bother as 88E. They both have enough capital to see them to year end and maybe a bit beyond but unless things improve for both it wont matter what end of the pool you are in, you will still drown without a life boat coming to the rescue.
I still have hope for 88E with interest in Leonis and great potential in Namibia, and I still think Longhorn will come good and give some income. A realist I am, I don't have cash invested that I need, so simply hopeful and more so after watching the latest video. PANR I just don't see where the boat can launch to help them. Good to hear from you again.
Grumpy, not worried about finding, after the analysis it will have been found and counted, and it will be passed on to big brother, I just hope he has deep pockets.
Taxi I see the financial situation very differently.
The end goal is an asset of value, that can either be sold or put into production, with 88e the amount of further investment is unknown, as is the outcome of that investment. More may well be spent for zero return, as has been the case in most of their exploration efforts to date
PANR are now in the fortunate position, of being able to know what needs to be invested, for a known outcome, spend xx for a return of xxxx
Most of the uncertainty has been resolved, the oil has been found, the quantities recoverable estimated, the flow rates modelled, the costings to production budgeted.
It is very different to be financing into production v financing pure exploration
Note PANR still have some exploration in the new leases to complete, but the core of the portfolio in Ahpun is production mode ready