Member Info for Brombarb

09:57

I am firmly in the camp that No News = Good News, the company told us that it would not report on the results until there was "reliable data" and that will take time.

~8M gallons of slickwater injected, possibly 30% (~2.4M gallons) to be flowed back (responsibly) before results known.

If there is an issue then the company has to RNS just as it did with Alkaid-2.

" the drill is stuck" ?

17:32

That second RNS notified us that sand production meant that operations would cease whilst a coiled tubing unit was acquired to enable the wellbore to be cleaned, probably enough in its self to force an RNS but also and importantly at that date there was no mention of stabilised oil production.

09:46

and what the compasny has said.

"What IP30 or flow rate guidance can you provide, and how will success be defined for Dubhe-1?

Pantheon has not issued guidance on expected flow rates. For context, Alkaid-2 achieved an IP30 of 505 bpd (oil + NGL) from the lateral in the Alkaid horizon in 2022. A single stage frac in the topset SMD-B horizon produced 140 bpd of marketable liquids in 2023. Dubhe-1 results will be published as soon as reliable data is available. Success will be judged on whether Dubhe-1 demonstrates sustained commercial flow defined as rates that would support development when scaled to full-length laterals. Scaling to 10,000 ft laterals and multiple wells will be modeled once Dubhe-1 flow rate and fluid composition data are available."

17:35

Am I going blind?

All I can see is "The Company expects to release further information, in line with its regulatory requirements, as the programme proceeds."

The Q & A states 30-90 days, but also that results will be given once there is reliable data.

A month since last RNS, how long for drillling out plugs and instalation of production tubing, how long to flowback water intoduced when fraccing?

8,000,000 gallons introduced so how long to responsibly flow back 2,400,000 gallons (30%) ?

15:05

The Dubhe pad is 27 miles south of Deadhorse (per plan of ops) so its difficult be absolutely sure what we are looking at, just amazed that no picture taken from the Dalton Highway has emerged as happened with Alkaid-2.

"The proposed Dubhe-1 exploration site will be located 27 miles south of Deadhorse"

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

14:12

On the 8th October the company reported that forthcoming operations drilling out plugs and instalation of production tubing still to be carried out before flow test.

The company injected ~8m gallons of water and chemicals into the formation during fraccing and a % of that (30%?) will need to be flowed back (carefully so as to avoid any issues with sand flowbac)k before we can begin to obtain reliable data.

If we have met difficulties that are liable to affect success the company is obliged to RNS.

09:07

During Alkaid-2 operations we had pictures of site inc. flare taken from Dalton Highway very surprised nothing this time.

Just to add to 11:35

"A public share notification must be made when the net short positions of shares reach 0.5% of the issued share capital of the company concerned, and again at each 0.1% change above 0.5%.

This change relates to both a 0.1% increase and decrease of the position (including each time the position drops below 0.5%). "

As we have seen shorters can be delinquent in reporting on occasions but is the FCA :-(

https://www.fca.org.uk/markets/short-selling/notification-disclosure-net-short-positions

The flare proves the presence of hydrocarbons but not commercial flow rates for oil & NGLs, the company has stated they will release an RNS once there is reliable data, thats the plan and I see no reason at the moment why they will deviate.

14:14

Good to hear from you, better if it was happier circumstances but life goes on. :-)

14:39

Agree, the company has already stated that they will not release information until there is reliable data.

If the company released an interim RNS or twitter that carried any form of disclaimer I am unconvinced it would mean very much to the general market and might even produce an adverse reaction.

Just a personal opinion.

12:49

As far as I am aware PANR are a UK company listed on AIM, but now headquartered In the USA per company website.

If anyone is interested there is access to data for many past wells on the North Slope, details daily reporting and much more;

https://dggs.alaska.gov/gmc/seismic-order.html

NB I believe that wells included are those where Alaska State part funded drill under past exploration support scheme.

12:04

There are only 4 Directors (now 3) and one excutive Officer detailed in the last Annual Report, I get the concern about salary levels particularly for A Gilbert and Oliver Mortenson but I am not sure how you arrive at "very high salaries for 10 people".

12:58

"So far, 88E shares have only resulted in losses for shareholders"

That is not strictly true, may be true in recent times but many have made profit here since 2015 also.

Not sure if dilution (CR) is imminent, we have cash in hand that should be suffient for at least two quarters at current activity levels, by then we should know more about Bex's plans at Phoenix (I hope), Leonis and Namibia.

:-)

Its a 24/7 operation, every day, every minute, every second there is risk, if there are issues that are likely to force the well test off plan then the company is obliged to RNS.

Read what the company has stated in it's Q & A as to when information will be released in respect of flow test results.

GBP will be very close to AOGCC during the operations and know exactly the possible ramifications of delinquence , so I take it as read that everything will have been dotted and crossed.

Max & Erich are not numpties.

21:18

I have looked at the RNS you refer to on a number of occasions for possible guidance but am always unsure as to whether it was a planned release i.e .milestone achieved or forced by the sand flowback that meant operations were unexpectedly stopped whilst equipment was procured to enable the bore to be cleaned out.