RE: Mind boggling6 Jul 2023 01:41
I was in 88e , thankfully got out before or during Dave Wall sold/selling, was also in the investor Chat on twitter by Kate and a few others I had concerns , Moved on from that after being fully enveloped in that one! Boils my blood but seems Ashley is doing a better job .
Thats the one the taught me alot. COPL had a go on that , learned a lot. ( Do my research ) COPL was just test for me on figuring out the market.
In response to your last post;
"Pantheon's well result showed production of approximately 200 barrels of oil a day and 300-350 barrels per day of natural gas liquids. This was below potential production scenarios laid out in the company presentation and by stock promoters and shareholders. While the oil is easily marketable due to the proximity of a pipeline, the NGLs are less marketable and likely receive a fraction of the net price of the oil. The company pointed to "sand blockage of 1,000 lateral feet" and plans to clean out the well using a workover rig in January, but the unobstructed 4,000 feet of lateral are producing below expectations."
This answers it from 6 Mar 2023 07:00
RNS Number : 9292R
Pantheon Resources PLC
06 March 2023
"The Alkaid #2 well returned to production on 21 February, following the cleanout of the sand blockage in the final 1,000ft (c.20%) of the wellbore. The IP30 production rate is calculated at c.505 barrels per day ("BPD") of liquid hydrocarbons consisting of c.180 BOPD oil, c.325 BPD of condensate and natural gas liquids ("NGLs"), along with c.2,300 mcfpd natural gas, after shrinkage. The quantum of liquid and gas production flowing without artificial lift from Alkaid #2 demonstrates the good deliverability of the reservoir, which is a significant de-risking event for Alkaid development. When separated and sold, condensate and NGLs are estimated to achieve 80% - 90%, or potentially higher, of ANS crude oil price (ANS crude typically trades at a premium to WTI oil). Post cleanout, flow rates were initially marginally higher than pre-cleanout suggesting that despite the sand blockage the final 1,000ft was connected and already contributing to the main wellbore through the fractures communicating with each other. Alkaid #2 also penetrated the shallower shelf margin deltaic ("SMD") reservoir, which management estimate to contain over 400 million barrels of oil ("mmbo") recoverable resource. The addition of these resources to any potential Alkaid development will significantly boost economic returns. The data collected indicates the SMD has significantly better reservoir qualities than the Alkaid anomaly."
Conclusion c.505 barrels per day admittedly at a 10/20% discount on the NGLs, Which will be less next drill as to the presence of better data. Agree? Also with a sand trappage, so again could be better than produced? Agree?
I'll Post the next bits after this. /1
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