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Or like a broken clock one of them will be right occasionally and I would suggest pretty soon
6 straight days now of SP decline and the last technical support sitting at 32.5 (78.6% fib) may shortly be broken and then its a clear drop to 100 day sma at 26.1p.
Most striking is the on balance volume (OBV) pointing down with a trend now established.
With a reading of 15 a declining OBV accompanied by falling prices indicates bearish momentum in the market. It suggests that selling pressure is increasing, leading to lower prices and has now been associated with confirmation of a downtrend, an indication to traders that the downward movement is likely to continue.
Add to this, the MACD is about to provide a bearish crossover, will day 7 be the continuation decline. A close today of 32.8p shows the support is just hanging in there, will it tomorrow, if it goes the drop could accelerate.
Maybe best for the company to place now before giving away greater dilution.
That's the battle though isn't it. Not everyone has a long position, so some will not express positive thoughts.
If anyone is influenced to sell by these crashing bores, more fool them. IMHO DYOR
For many months those talking Pantheon down have predicted imminent dilution, even claiming raising funds with a discounted SP as low as 10p and time and time again they have proven to be wrong.
So were they bad guessers or spreading bad rumours.
I even recall one liar saying it was all the chatter around the City, claiming the raise was imminent and at a farcical price that of course never happened.
The boy who cried wolf comes to mind with all these dilution posters.
"Pantheon reserves, once they are certified as such from their current status of "resources", are over twenty times higher than this."
lol that's funny as if they will ever get to that stage. years and years and $millions away. and of course millions and millions and millions of shares added.
I see that more posters are agreeing that funding will be required imminently. I suspect the discount will be quite large if there's going to be a notable amount of funding. The wait should be over soon and then the uncertainty is removed with the lower SP… IMHO DYOR GLA..
A quick google tells me that Petrotal "2P reserves" rose "from 96.7mmbbl to 100.2mmbbl" in 2023.
Pantheon reserves, once they are certified as such from their current status of "resources", are over twenty times higher than this.
10:07
Lol Lol Your right he is a Silly Billy Lol Lol
09:51
Silly darientaylor thinks PANR produces 200bopd. Silly darientaylor doesn't know PANR is not in production. Silly darientaylor said he was looking at the numbers. Silly darientaylor is just making stuff up. Silly darientaylor is a liar. Don't be like silly darientaylor.
Looking at the numbers PANR producing around 200 bopd market cap £320 mill... no divi no cash.. PTAL producing 18500bopd market cap £450 mill , 9%+ divi, share buy backs and over £100mill in the bank and one of the largest oil fields in South america with 12 months of the year operation... I know which one is value
Totally agree with your sentiment it’s just sad that we have to go through all this every time the boo brigade have a push on. If you’re invested in Panr, having ingested all the information from webinars etc, (which they wouldn’t have done) the odds are stacked in our favour. Ignore them sit back and enjoy the ride.
I dont thinks its a particulary conservative calculation at this point in time.
We seem to have again all the negativity surrounding a possible cash raise
And share price has stalled through non confirmation of funds to progress David’s overall plans Well for my pennies worth if I may
I’m happy to dilute from 944 m shares we are now at £318m and do 50%. Raising £150m and shares then 1.4 b out there
Fully funded then of the $120 m needed to be cash generative with $30m to clear loan we have still exsisting
We’ve been told kodiak oil is at 1.25 b and alphun shortly at approx my guess 750m. Totalling 2b barrels
This being a conservative estimate as David confirms higher figures being 4 b
All now ours. And no deal done to third party
David’s objective 5-10$ a barrel
Playing safe $7.5. Or £6 equivelent at 4 b barrels
£24 b. At 1.4b shares
£17.1 per share.
For arguments sake half that so £8.50
I’m still happy with that
What do you guys think