Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
My question for readbeard is, why did PANR go from 8p to 130p in 2021-22? They found oil in Alkaid, Theta and flowed oil from the vertical well, and the share price reacted accordingly. (The market knew it that they would need more cash to develop the field, despite that the price did multi bag). its about derisking assets, and one step closer for development
This will be the first-ever commercial discovery for 88E in the last 8 years since they searched for oil in Alaska. It will have a significant impact on share price.
They will test a few reservoirs and update the market after every zone. So, the interest will be there, and positive sentiment may be helpful for the share price. We have seen recently that UPL (without any assets or oil production) have done ten baggers.
This time, new management is involved, and hopefully will bring luck to the company. Dave Wall is no more involved wit the company.
Https://x.com/pantheonresour1/status/1721816889159033164?s=46&t=hEeOOn1eZnLdMXHOch7wjw
I am expecting sort of JV or mergers between PANR/88E sometime in the future
Every company raise cash, either by placing or convertible loan, or debt or warrants or other ways.
If the cash is raised, and utilised for business operations, then nothing wrong. In case, 88E flow well at commercial rate, then what’s wrong in raising cash to drill horizontal well, leading towards production? That’s how the business work
Scot,
What’s PANR share price performance during the last one year? Down by 75% ?
What’s the cash position of PANR? How much Debt do PANR have?
Do PANR have cash to drill more wells?
How to raise $120m to develop Alkaid ?
The point is, let 88E do the test and then the result will talk. Don’t waste your time in deramping others.
Everyone wants success everywhere
PANR have just released an excellent news, derisking 88E project. This will attract investors towards 88E.
Interestingly, ASX volume is significantly higher than London, traded over 80m vs 10m in London. Expecting high volume day,
88E has potential to do 400-500% a day. On commercial discovery, there is a good chance of spike to 4p or so. They will be testing 4 reservoir. Success in first some, leads to more interest other zones. BFF is the zone to test, and I believe, PANR flowed the zone successfully at commercial rate, few miles from 88E location
The report is available in 88E website. If you visit 88E website, and then click on investors and then click on Investor Analyst. You need to drag down the list, and click on report publish on 11 Aug 2022, and read page 3 for valuation.
Minden,
If you go through the broker research report, this project alone worth over 9p (without new zone). If new zone is also included, then possibly this will worth more than that.
However, share price usually trade at significant discount to its NPV due to a number of reasons. Even, if 60-70% discount apply, this will be over 3p on success case ?
It seems some confusion about of shares in issue. Market capital is more important than shares in issue.
88E is going to derisk 650 mbbls oil + oil in unknown reservoir Upper SFS. Potentially, this is worth over 10p per share as an aggregate level. Flowing oil at commercial rate 50-70 BOPD vertical well will derisk the project and will incorporate in the share price.
Also, company is planning an horizontal well, following season once they flow the well at commercial rate. It’s busy time for 88E
The fact is, PANR down from 130p to 30p (-75%), and they are not doing any major operation this year, apart from test to gather information rather than to get optimal rates.
There is no plan to drill, either this year or next year. Also, PANR need cash to drill next year. PANR are in debt…
A lot of regional activities is due prior to 88E flow test. PANR test to start next month, & its result will have implications on 88E. Also, 88E expected to update market about resources upgrade especially after incorporating new zones upper SFS. A lot to comes and hopefully overhang from placing shares will be cleared by then
This is a small work over rig, specifically used for testing operation. PANR & 88E are using same rig for their respecting flow test, suggesting the mobilisation cost will be shared by both companies, thus low cost to both companies