Member Info for Brombarb

Nothing over exciting as far as I can see, interesting that we have taken advantage of GBP 3D seismic that has become available for Project Leonis, Longhorn divestment is ongoing (latest results disappoint once again), still have positive bank balance and based on future operating plan no immediate need for cash.

If I read correctly Bex have contributed during the quarter to meet jv obligations.

17:28

As much as we know at this stage, treat as guidance only.

https://dog.dnr.alaska.gov/Document/Download/816470F9B97F4CFFBEA4D40029922DAE/LONS%2025-002%20Great%20Bear%20TAU%20Dubhe-1%20Exploration%20Well%20Unit%20Plan%20of%20Operations%20-%20Approved.pdf

Just looked at Alkaid-2 , well was spudded on 7/7/22 and on 26/09 we were advised;

"In preparation for flow testing, Pantheon has applied to the Alaska Oil and Gas Conservation Commission ("AOGCC") for a long-term pilot production test with a hearing set for 27th October to consider gas flaring at the Alkaid #2 well. This hearing is part of the normal process for a long-term pilot production test as the AOGCC must determine when the project is considered to transition from testing a new formation to entering regular production. AOGCC regulations state that gas flaring is permitted during testing but must be limited during regular production operations. The hearing is not anticipated to delay or curtail planned testing operations."

https://polaris.brighterir.com/public/pantheon_resources/news/rns/story/xpne1qr

08:13

No you are not imagining it :-)

Exploration wells are normally authorised to flare excessive gas for a very limited period only*, in the event of extended testing being requested then AOGCC may (as in case of Alkaid-2) allow an extension.

https://www.akleg.gov/basis/aac.asp#20.25.235

* exploration wells normally are time limited in any case as on ice pad not gravel.

Unable to verify whether permit to drill has been issued yet as AOGCC drilling site has "no data available in table".

06:45

The LNG permitting situation has absolutely nothing to do with Dubhe-1, just in case anyone thinks otherwise.

15:49

At date of last webinar the status was application pending and AOGCC site does not yet show any approval but as marmaris states it is usual for rig to move after receipt of permit, so who knows.

Personally do not see any great issue as sure GBP will have dotted and crossed their application.

16:44

No.

Earthquake is centred at Sand Point hundreds of miles away from the North Slope.

https://earthquake.alaska.edu/earthquakes

"Permit to Drill filed with AOGCC expect approval soon"

from presentation 10/07/2025 page 17

Same presentation states Rig moving to location page 16.

https://www.pantheonresources.com/index.php/investors/presentatio

Latest twitter post from PANR suggests rig on site.

:-)

11:00

Apologies to all after checking quite a few other wells drilled in Alaska I can see that although Permit to Drill is the the last and final permission it is normally granted prior to rig move not after so I would expect that despite not showing on the AOGCC report we probably have approval.

What do they say about a little knowledge!

Thanks to Marmaris for injecting practical knowledge.

AOGCC process link below.

https://www.commerce.alaska.gov/web/aogcc/HowtoApply.aspx

10:21

"The permit is a formality and won’t hold anything up"

I agree.

09:45

Just the way the Alaskan (and probably many others) system works, permit to drill is issued once rig is on site and all systems ready and in compliance with AOGCC rules and meeting approved Operations Plan.

Same for all operators and just part of a known process.

"First, the AOGCC is not in the business of managing or deciding whether to develop state owned resources. Rather, the AOGCC regulates certain oil and gas operations anywhere in Alaska, whether on state owned, federally owned, or privately owned land. Second, the AOGCC's oversight of drilling operations focuses on ensuring that appropriate equipment is used and appropriate practices are followed to maintain well control, protect groundwater, avoid waste of oil, gas, or geothermal resources, and promote efficient reservoir development. The AOGCC is not authorized to deny a Permit to Drill on the basis of land use concerns or conflicts between surface and subsurface interests. Third, the AOGCC's issuance of a Permit to Drill does not relieve the applicant of any obligations to comply with the permit or regulatory requirements of other state, local, or federal agencies before drilling."

15:20

Absolutely correct, buy sells algorithm depends on an accurate mid prices at the very least, buy sell data on LSE a guide only and not to be trusted.

15:53

Permit to drill not approved yet by AOGCC, see link (if you check back to Oct you can see details for Megrez-1).

Possibly a few days at least yet.

http://aogweb.state.ak.us/Drilling

16:02

On a gravel pad , 14 deg C , light winds

https://www.timeanddate.com/worldclock/usa/prudhoe-bay

Wiiliam Price = PriceyBill25 ?

08:10

Suere you can now! :-)

08:29

BP rumour flagged up by one poster who later on admitted it was just that see 4th July 12:04, as for the Q & A I think you anwered yourself.

15:13

88E already have a partner Bex, of course we have to see some evidence that they can actually raise the money, but so far even if a little late it has always arrived.

Dubhe-1 will be targeting SMD-B also and well close (~4m) to us any success can only be positive for 88E / Bex.

14:36

Permit to drill v operations approval.

The permit to drill is only applied for once rig is imminent, check the operations document and you will see it gives in detail all the various permits that need to be applied for and approval granted before spud.

NOTHING odd or strange.

10:38

I take no notice, I think in most cases it's a shovel full of "pixie dust" that has gone up someone's nose.

:-)