Member Info for 3standsoffbottom

Flights investment server on discord #pantheon-resources

Olderwiser, Rabito, Adx plus others are on there, Flight (mod) runs a tight but fair ship on sensible discourse, so leave the rockets to the moon at home.

Personally I think the meeting between DH and OMJ is a good thing, regardless of how it came about. At some point in the future Russia and Ukraine, Israel and Palestine are going to have to talk. Maybe a bad comparison as the former pales into insignificance with the latter(s).

In my view BB's and the twitter-sphere are the battle ground of competing voices with no consequences for participants. Meeting face to face, man to man there is nowhere to hide.

Maybe Rabito and Louis could have a Teams meeting.......just saying.

Thanks Marmaris, after I wrote it and proof read after posting I thought hmmm I got that the wrong way round. BOP for any work downhole, I guess even wire line through the tree would need a BOP bolted on the top.

I worked floaters, I seem to remember we used drill pipe a lot for pressure fracing and testing. Only ran production tubing during work overs and subsea completions. I left the oil patch in 87 along with a lot of others having done 11 years (worked the derrick for 6 of them!!) various parts of the world. I think most rigs in the NS were laid up in Cromarty around that time. Made it as far as AD. Was the go to guy when we had to use the (illegal) chain and took to the brake like a duck to water. That will give you an idea of my knowledge level.

So maybe just one version of what they are doing. Rig over well, circulate through tubing to ensure well is dead. This might lead to some flaring. Pull tubing (worth a lot and can be used again) being careful not to swab the hole. Change out X-mas tree for BOP. Run drill pipe with bridge plug, cement job (below SMD), using drill pipe to deliver cement. Test cement job, set bridge plug above SMD on the end of drill pipe. Circulate so that head (hydrostatic pressure) is just above formation pressure. Run perf gun through drill pipe and perforate. Wait see what happens, reverse circulate production fluid down annular and up drill pipe. Well should come in let it flow for initial figures. Shut in for 24 hours monitor pressure. Then frac job, flow test, 2 sets of figures. I think all through drill pipe, will see if they demob rig and use coil tube set up. Plug hole make safe. Just a guess, but I think reasonably close, as they say more than one way to skin a cat!

Not sure you are quite correct with ‘gas present……’ depends on bubble point I think?

I think we can agree gas provides the energy and you might be right about not going back as easily as it came out for this very point, I would defer to a reservoir engineer. (who can be found on discord board if interested).

As far as the shorts who knows what they are up to, are they always right, yer man got it right how many times, like one time so they made a film, to be fair made a shed load of money!

To put a little perspective on the what the work over will entail. Rig over the well, the well will need to be killed (if not done already) with correct weight fluid. Production tubing pulled, plug set using drill pipe, cement job, wait for it to set and pressure test. Run drill pipe with packer on the end set above SMD, perf gun run on wire line through drill pipe, perf gun fired below packer at SMD, reverse circulate and let well come in, flow test. It is possible they might rerun production tubing for the test and perforate through tubing. Someone with more up to date knowledge might say that the production tubing does not need to be pulled and everything above can be done through it, I never saw that. Something like that anyway. How long, weeks rather than months. No drilling involved unless cement job goes pete tong and they have to drill it out.

I think wondering what’s going on with his investment at PRD, it’s easier to throw stones is it not, putting down cold hard cash in this investment malarkey not so easy. We each make our own way, good luck by the way with PRD, it’s been on my watch list for sometime.

If Jim is virtually always being right he must be a very wealthy man. Perhaps he could lend me a tenner until the Giro from Australia arrives. Anyway good luck to him.
I am biased, which could be a whole other conversation about sunk costs, confirmation bias blah blah hence I don't actually mind if someone holds a polar opposite opinion, even if just an opinion without substance as it gives me pause to question myself. However I still think if all the info we have is weighed up and we discount the conspiracy theories, PANR has every chance of coming good. I am actually encouraged by the silence from the company and usual suspects, it would indicate to me that something more likely than not is going on (but then I am biased ha). Louis et al might well be proven right at the end of the day, this is a risky old game, M. Jordan said something like 'I can except failure, everyone fails, just can't except not trying'. Well I am trying, if it blows up I will have another go, be interested to know what you are trying at Louis.....actually I am not, just being polite, this is just a BB after all .

"no interest to date" I am not sure that can be said as an unequivocal truth. The board did advise us that they had turned an offer down, either true, untrue or somewhere in-between, for each to decide.
I think if we ignore the previous offer then what can be said is "no notified interest to date'. We don't know, I personally hope that the board are working their butts off for the benefit of shareholders. I am disappointed that the data room has not been declared open, however as I do not know what is involved in as much as data (amount of) coordination is concerned, I am willing to accept it is not particularly straight forward and would rather it is done correctly with the best chance of success. Not comfortable with the present situation at all but remain long.

The problem for both 88E and PANR re positive wire line and cores is that there is no chance of a flow test until next winter at the Hickory well. So if the imminent wire line is good there will no doubt be a positive impact on both companies share price, then I suspect the price will fall back due to the wait until the ice pad etc are started up after the summer. So at best a trading opportunity.
My view is PANR is treading water at the moment, the only thing on the horizon which I see as getting the SP moving is a really good flow from the Alkaid 2 well of the SMD zone or a farminee buying in. We aren't broke but have limited capital for manoeuvring. I think we are at the pulling the rabbit out of the hat point.
I remain convinced of the resource we have and am long, it is a perennial problem for junior resource companies, having seen some of my investments gobbled up by China's Road and Bridge efforts, I made some money these but no where near true value which is very frustrating. All in my view and probably stating the bleeding obvious.

Well done you, now just avoid becoming a trapped bull and keep an eye on the spread and you'll be alright.

I suspect at the webinar, at any rate it will be reported as more data collected from the flow test. I think if it was a present problem it would have been reported in the figures already notified to shareholders. I don't believe in conspiracies as a rule so if people think the data is being withheld on purpose by the BoD then good luck, we live in a country where we can think and say what we want...........or do we.......

People can write what they want on BB's, I personally don't give a crap. It's actually a lot simpler than most are giving credit for. Louis holds a grudge, if you look back through the relevant posts you will find the start of it, somebody said something that put his nose out of joint, that is all.

Pantheon were not the operator in Texas. They will have to circulate the kill fluid out of the hole, they will bring the flow on in a controlled manner through a variable choke I suspect. I reckon anything up to a week to establish a stable flow. They might well shut-in for 24 hours to see how the downhole pressure stabilises at some point, probably when most of frack fluid is recovered. At any rate we should get stable flow information soon. The important bit, in my view, which will take time is the the reduction curve, hence the 6 to 9 month flow test. So I think another RNS in a week to 10 days, if all well further news down the road (all regarding flow).
Jay has expressed huge confidence, this surely is an agreed view across the board. If this is some game they are playing to mug punters I doff my hat, but to believe that you would have to think that they were all exceptional conmen. (I accept conmen exist but usually in the singular).

My assumption was; rig over the well pull tubing and packer, move rig, CT unit clean out, move CT unit, rig run tubing and packer, rig demobbed ready to move down the road, CT unit back over well and flow test.

Nice explanation Marmaris, I have zero experience of land rigs. Done my fair share of making up and breaking down 15,000 foot of drill string in the mouse hole. Looking at the photos I thought the pipe shed looked a little small and figured that they would put the tubing in there, of course taking up more room than drill pipe. Figured using CT would be easier. More used to big old pipe decks on semi's and pneumatic pipe racking systems on drillships.
Anyway this all hinges on the drop off rate, it is going to take a little while to get that, (in my opinion).

Also they have to lay the tubing down (inside?). Would make handling stands of pipe difficult, making up and breaking down.

Cost? Save rental on drill string. I realise the coil tube will have a cost. Confused.com

I think they did a deal to leave the rig on the pad as it is headed South to drill for 88E in a few weeks time.

Nice photo, it might well be on site, but tweet says in the yard about to head off to Alkaid 2.