Member Info for ART123

That's a great shame. Not holding but I was hoping for a good result and the chance to make some dosh here. Not much hope of that now.

DRILL RESULT RNS IS OUT

Highlights: Winx-1 Exploration Well, Alaska, PANR 10% working interest

Pantheon reports that it has been advised by the operator, 88 Energy Ltd, that

· Oil shows have been observed whilst drilling in the Nanushuk in the Winx-1 exploration well between 4,460' and 4,530'

o Preliminary analysis suggests that the zone over which the shows were recorded is at the lower end of the range required for commerciality, however additional petrophysical work is necessary

· No oil shows were recorded in the shallower secondary target (Seabee turbidites)

· Forward plan is to continue drilling to TD (target depth) to test the deeper objectives



The Winx-1 exploration well intersected a zone of interest in the Nanushuk Formation between 4,460' and 4,530' on the 28th February 2019. Weak to moderate oil shows were recorded, including fluorescence and crush/cut fluorescence, whilst drilling through this zone; however, initial petrophysical analysis indicates potentially high water saturation. Additional analysis is ongoing and will be reported once available. The shallower, Seabee turbidite target at ~4,272' exhibited no evidence of hydrocarbon saturation.

The forward plan is to continue drilling ahead to TD to test the deeper objectives.

There you go - oil shows but not commercial -

I hate dual-listed shares. This and RMP should have been delisted from ASX a long time ago. ASX is just a total waste of time and I expect expensive to maintain with all their finicky rules.

If there is no announcement by Tuesday then the suspension will just be extended until there is one.

"The Company continues to add new restaurant partners. It also expects to expand to Southampton in March, when it will announce further new areas for expansion."

The good news is that March starts tomorrow - so not long to wait!!!!!!!!

Slowly, slowly catchy monkey.

They are still going slowly, whatever anyone says, but I think we'll all agree that slow progress is better than no progress.

I hope that is the beginning of March for Southampton rather than the middle or the end of the month.

I did say a while ago that the Big Dish website still had photos of Manilla on the home page so that was something that needed addressing.

I remember this share from years and years and years ago. I didn't know they were even still around.

Are they going to be finding any gold here? Anyone know? If so how much are they looking at?

Cheers

Yes, I know how to find a spiking share.

Leave me alone. I can give my opinion anytime the same as you.

The market is very poor at the moment. There is little money to be made anywhere. Even the spikes are random and difficult to find. And steady reliable shares seem to go down rather than up.

This is only a small country and they need to go carefully as they are partnered with the State-owned oil company who already owe them lots of money.

Plus they haven't physically got the license extension yet.

To be honest I don't think the CPR will be huge. Sefton seems to mention it in passing in his podcasts without putting too much importance on it.

Production is waiting on fracking gear which may or may not be on time though historically everything in the Dem Rep of Congo seems late. If the gear is late then the SP may dip.

Then the next drill may or may not need additional funding, especially if AAOG have to pay all the costs up front this time as well.

I see the potential for this to return to historic highs but it will take time.

That's my honest opinion. The market is very slow and depressed at the moment and this doesn't seem to show any signs of changing soon.

Nothing wrong with a P & D as long as you know when to sell. Don't get greedy, take a nice profit when you see one and don't go back for any more.

I still make most of my money on AIM from spikes though even they seem to have become less frequent of late.

Quote from Align Research Report:

"The CPR consultants expect that the recovery factors will be low given the low permeability of the Mengo reservoir and be strongly dependent on well, density, well design and simulation techniques. This is well-illustrated by development studies on Kundi which have suggested 5% and 8% recovery factors for 27 and 42 wells respectively for a STOIIP of 340MMstb. STOIPP

The Mengo Formation STOIIP was calculated probabilistically, with a recovery factor for oil and gas applied deterministically. A recovery factor range of 4 – 8 – 12% was applied based on analogue field data and the company’s intention of using horizontal well technology to develop this reservoir."

Sorry that's 7.1 million barrels for the R1/R2 zones.

And the

No idea of the figures - don't worry.

I see there is a resource estimate of 7.1 million barrels in the Align Research Report though this looks to be oil in place rather than recoverable. And of course AAOG only have a 50% holding here.

Rather wish I'd stuck some cash on Widecells - I'd have made more there is a day or two than this is likely to make me in months.

Has Dave Sefton given any indication of the size of the resource since the recent drill.

After digging very deep I have found that a previous resource estimate gave the lower Mengo sands a gross contingent resources of 8.1m barrels with the deeper exploration prospect a gross prospective resources of 58.4m barrels in the productive Djeno interval. It doesn't look like the R1/R2/R3 prospects have been resource estimated.

Is this CPR going to include the Djeno interval and what sort of numbers can we expect for the whole.

Question please: