Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Wed 7th July 2021
I3 Energy signs CA$65 million deal to acquire Canadian oil and gas assets & also Vox Market own view on the deal.
https://www.**********.co.uk/articles/i3-energy-signs-ca-65-million-deal-to-acquire-canadian-oil-and-gas-assets--a5e6a4b/
Sunday 4th July 2021
Weekly oil news round up by Oilman Jim – HUR HRCXF I3E ITE 88E EEENF ZPHR VNHLF AEX AEXFF SCIR ADV PPC PPCGF CHAR OIGLF LBE DELT IOG PRD TRP RTWRF PVR PVDRF LOGP BOIL
88 Energy (AIM & ASX 88E OTC EEENF) announced the completion of the sale transaction for its Alaskan oil & gas tax credits. $16.1 million of the $18.7 million sale proceeds are being applied to full repayment of outstanding debt, leaving 88 Energy debt-free with cash holdings of $11.1 million. With more and more UK-listed companies obtaining US trading symbols, it’s becoming important now to follow the US market, which was primarily responsible for 88E’s strong upwards share price move last week. The OTC has become the main driver for the share prices of many of these companies
https://tinyurl.com/kyp3m5ds
Hi Telesail,
Yes, it's me myself just getting the Pantheon message out to everyone. Pretty quiet right now however we are all waiting for the next RNS which by all accounts should contain some massive numbers going by what Bob said at the webinar...Thanks for continuing to provide some of Pantheons top quality posts on any board...all the best to everyone involved.
Interesting how dependant Alaska citizens depends on oil...
https://www.alaskapublic.org/2021/05/10/alaska-house-passes-budget-pfd-amount-unsettled/
An excellent post over on Reddit posted by u/Ok-GeodesRock49 - well worth a look
Summer Time / All-Season Drilling: Pantheon's Discovery of Basin Floor Fan Turbidities -and Shelf Margin Deltaic Reservoirs in the North Slope of Alaska.
https://www.reddit.com/r/3CPG_PetroleumGeology/comments/n82mze/summer_time_all_season_drilling_pantheons/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
just to add further & on the subject...
Theta West/BFF are conventional, highly productive reservoir. SMD similarly likely to be highly productive. The Kuparuk elsewhere in Alaska seems to be water wet and easy to produce. In Talitha, it seems to be oil-wet and can be producible but simply requires a different approach. If you put diesel in your gasoline tank, your car will not work but that does not mean your car is useless - it just means you used the wrong fuel. Similarly, if you do not “insult” the formation by using water-based fluids for drilling and completion and you use the right production strategy you can profitably extract lots of oil.
Telemachus
The San Andres formation in the Permian Basin is an oil-wet reservoir that has produced literally billions of barrels. It is a carbonate reservoir so more complex to produce than a sandstone reservoir but that should provide an example. The approaches to producing from oil-wet reservoirs are a combination of “dewatering” - producing water until the oil phase becomes mobile after a relatively short period of time. It is the equivalent of a well that starts out producing oil and gradually the water cut increases except here it is the other way around. “Miscible gas flood” - using nitrogen or carbon dioxide to create a flood front that sweeps oil and water together into the wellbore “Surfactant polymer flood” - a bit like injecting a detergent to create an emulsion that flows into the wellbore.
BFF/Theta West turbidites which are a common reservoir all over the world and good performers - Elk Hills in California, several Deepwater Gulf of Mexico fields (Auger, Tahoe, Ram/Powell etc). Also, the SMD B sand is a typical deltaic braided channel, of which there are many fields around the world.
Telemachus.
Squirrel26 - Better still listen to Bob himself say "that's a promise!"
https://youtu.be/ncgsjWsy0aA?t=2966
The Pantheon Presentation on 20th April 2021
A promise made by Bob Rosenthal Pantheon's technical director & repeated twice, Theta West upgrade due in 30 days, therefore anytime before Thursday 20th May.
On the day after the presentation I spotted a post thanks to btgman which I think is worth repeating again - makes you think.
btgman 21 Apr '21
The external verification from Baker Hughes is truly staggering and as an endorsement is very hard to argue against. So where should it be?
Canaccord currently sits at risked base 99p based on Alkaid + SMD only OR £1.86 risked for Talitha but this includes nothing for BFF (Theta West)
W H Ireland Risked based valuation sits at 89p but does not include Theta West or Slope Fan
Clearly, in the above, we should expect to see significant upgrades for the zones they currently including and then some fairly substantial upgrades for the inclusion of the Elephant that is Theta West. Let's not forget Leonis, Down dip Alkaid etc
OK, so where do we go with Theta West? I have long held a view that this would be in the 5-10b barrels of oil recoverable and it is good to see Telemachus put forward 9b as a number and I do think this is something we should all be talking about as it is quite simply huge.
In my own valuation based on £5b allowing for dilution farm down/farm out and a 10% probability of success for Theta West, I land at £1.12 for this zone alone. I don't think 10% is the correct factor but it is a number that allows others easily to adjust accordingly. Maybe 5b is too high at this stage but 10% is too low so I am not budging on the £1.12 minimum.
Clearly, we are talking £2+ on the most discounted of valuations at which point. If we were sat at £1 today I would have a view we were massively undervalued. All of the above is risked based so not a blue sky valuation almost where we should be today and still isn't factoring all the other upgrades or Leonis.
Looking forward to the official upgrades in due course but it is a start to kick around.
AIMHO GLA BTG
Alaska Petroleum News - Week 2nd May 2021 - front page
- Still on the trail -
88 Energy, Pantheon continue analyzing Merlin 1, Talitha A exploration well data
https://www.petroleumnews.com/pntruncate/843228876.shtml
Goldstinger
Then you must have listened to Bob make a promise to release within 30 days from 20th April an upgrade which is going to be one of the biggest numbers on the North Slope, just massive.
Pantheon Resources Webinar 25st April 2021 - on YouTube
Presenters: Jay Cheatham (CEO), Bob Rosenthal (Technical Director), Justin Hondris (Finance Director) & Michael Duncan (COO).
https://youtu.be/ncgsjWsy0aA?t=2
Direct link to register for the webinar Tuesday at 4 pm
https://www.bigmarker.com/share-talk/Pantheon-Resources-Investor-Presentation-and-Q-A-Session-April-2021