Member Info for cbaron

08.20
Would you care to explain why you say no?

08.18
After the pre-drill raising of expectations around the LBFF and a problematic season, I'm not sure he could have said anything else, nor presented the answer in a less than emphatic way.
.........just to add balance..........

First step in an attempted under the counter deal?

All good stuff in the interview but nothing new. I'm not seeing what Scot saw to the extent of his excitability.

correction:
"We achieved what we set out to do"

Mmm!? Whilst I respect JC and the management team, I'm not sure I can accept that quotation, if it's been accurately reproduced. When compared with the company's own stated pre-season targets, I cannot see how he can genuinely and accurately say, " we achieved we set out to do".

12.45
Good ol' Ddraig - the light has finally been illuminated. Bit slow to the party, but he got there in the end.
A few of us have been pointing to Icewine as the best option for quite some time. Assisted, of course, by the northern neighbours - but we can't talk about them!
I don't exactly recall all of his pertinent advice to the company ahead of Merlin 2? Must have missed it!
So clever to be so wise after the event..............

13.52
Villa01,
Everything, in all spheres and sectors has a price, whether it's a widget or a potential oil field. The price will dictate viability for buyer and seller. The better the credentials of the asset, the better the price. All very obvious stuff, but the rules prevail, irrespective.
All buyers are different, some will act only following reams of due diligence and expert reports, whilst others may take a punt on instinct. I'd prefer the latter right now.

It ought to be a better conversation, but how much better? Hopefully, we'll see in due course.
The buyer will certainly beware and hopefully the shareholders will be happy.

Excellent debate with most of us erring to the positive end of the continuum, some slightly less so, including me.
Ultimately our opinions will count for nothing. Beauty will be in the eye of the acquiring beholder and a lot will be about presentation.

10.41
Point 1.
I fully accept the point about the difference between vertical and horizontal wells, though successful flow tests at a greater rate (one didn't even recover the frack fluids), would have given far greater confidence. As we know we didn't even get to some of the target horizons.
Point 2.
Was more of a question having seen posts attributing high confidence levels to modern techniques.
It is unfortunate that this season has not taken us further down the track and it is now about Alkaid and another year.
The $64,000 question is what potential suitors make of it all?

Apologies for entering your debate but the issue is not about negativity per se in OUR interpretation of an RNS.
What we all hope for, none more so than the BofD, who want to retire, is what a potential FO partner or acquirer may think and the basis upon which they will attribute value to the PANR asset(s).
We are given to believe, historically, is that it is proven commercial flow and proof of 'reserves' which is the Holy Grail that will be a determining factor in attributing value. I have seen comments from so-called experts which suggest that new technologies (seismic/VAR, or whatever) are now able to render flow tests/rates obsolete and that sufficient confidence of commercial extraction can be taken from these technologies. Is that truly the case? I don't know.
Therefore, on the basis that we didn't achieve definitively commercial flow rates this season, will that be detrimental to our ability to maximise value in a disposal transaction? Might lack of flow testing results completely stymie a sale or at the very least result in a discounted offer, arising from a perception of additional ongoing uncertainty and therefore, risk?
It was clear, ahead of this season that it was important to show flow, otherwise why do the tests. Have we sufficient data without the tests? Will we need another season of drilling - today's RNS suggests the need for a new drill at Theta in 2023 and further testing at Talitha?
Disappointing is therefore my view of this year as we were hoping for something considerably more definitive than we appear to have achieved. Ultimately, what might this do for timings and realisable values?

8.32
The Talitha/Theta linkages were described amply and fully in pre-drill presentations including diagrammatic representations of the stratigraphy, with the Theta location showing much greater potential reservoir thickness and being labelled the sweet spot. So your now saying that we and 'the market' will have taken no cognisance of this information? Hmmm???

Scot,
We therefore intellectually disagree. No need to be rude, as appears to be your default whenever your view is in any way questioned.
I quite well understand the data collection methodologies and the seismic information. It was the pre-drill seismics which lead us to such upbeat expectations. As to what has been gleaned from the data collected this season from Talitha and Theta?......... we haven't seen any results yet.
From a fundamentals perspective, show me the results and then prove the commercial flow rates. I have some confidence that they will come - but not blind faith. What might have been hoped for this season was something quite definitive. It hasn't happened, hence my description.

08.11
Blingy,
With expectations raised to such an extent pre-drill and with very confident forecasts of what we would find from the excellent seismic teams and earlier presentations, it was almost a given that the linkage was in existence between Talitha and Theta (priced-in so to speak). What the season was all about, was proving of commercial flows. Regrettably, we didn't quite get there and the experts appear to be in doubt as to what was found to flow actually cuts the mustard.
Will this result in an offer? I suspect that a potential acquirer or partner will much more definitive information on commercial deliverability, OR, might limit any bid accordingly - just a commercial reality, IMO.
I think that Alkaid has become of far greater importance now than it might otherwise have been.
Compared with 88e, yes it's resounding success, but they didn't exactly set us a high bar, did they?

Whilst Scot is admirably trying to talk matters back up, and there are some positives to take (we are told) this is extremely disappointing with objectives nowhere near fully met. The weather intervention cannot be helped but a combination of it and human error make this season a damp squib, at the very least. Some weeks now before new news and the interpretation of the information gathered. Sadly for the Board, it looks like their retirement is on hold.

Guys,

I'm heavily invested here, like many others, and believe that PANR will ultimately deliver, but Jay and Bob appeared, at best, lukewarm on the ability to recommence testing with a clear 5-6 day window required and more storms coming in.......

15.55
I echo that. A decent profit in the calendar year but out at at a loss today. Hey ho, you win some and you lose some.
Welcome to the duster Mr Gilbert - I'm sure Dave has brought you up to speed with the concept.
Regrettably, rational expectation won against the usual blind faith and this year without the OTC tailwind.
Icewine it is then! Oh and, for the Directors, some southern income to keep ya'll in a a fat salary until the next wizard wheeze. As to drilling?......... perhaps stick to the Black & Decker and a bit just big enough for the rawlplug to hang that picture frame......

10.34
Thanks for the directions.
Informative and very positive.

8.16.
You can discuss the neighbours here , but now that you've been challenged you refer others back to the other board.