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12.53
"Not for cbaron."
What on earth is that supposed to mean?
It's probably on the up arising from a few positive discussions about fundamentals and strategy.
It certainly won't be as a result of your infantile SP commentary - we can all see that. It's blue, it's red, it's up - DOHHHHH!
My take is that the company wish to concentrate on the current location to prove it up and begin production close to TAPS, with no short seasonal influences. Positive cashflows will then cross fund the return to open up the other field areas without the need for greater than necessary CAPEX.
If, in the meantime there is interest from outside then all well and good.
Interesting article this morning on the BBC website Home page.
https://www.bbc.co.uk/news/business-67087678
Worth a read.
cb
10.18
Peaky,
Again I don't think we disagree on most of the principles. Foolishly, perhaps, I haven't sold a share since the 2022 peak, save for a bed and ISA, therefore immediately bought them back in the tax wrapper; I even bought a few more in a relatively small amount very recently. I have a six figure investment commitment here and still believe in the fundamentals of the business. I'm as frustrated as anyone at the current SP arising from some own goals, a bit of bad luck and some market shenanigans; not least some people here and elsewhere hell bent on undermining the company with Machiavellian intent.
My views on the very recent performance have been expressed.
I'm here for the long term.
Good luck.
cb
One final point - reputations and experience speak for a lot, but in this day and age so do slick presentations and I fear that this needs a serious review by PANR as slick it most certainly is not. Lots of explanation left out especially in relation to the the myriad of unexplained acronyms. keep it simple - may of the current and potential future investors are lay people.
Disappointing that there's not much new here post the 27 Sept presentation, save for what we know from this morning's RNS.
I agree with the comments on the timeline but they do seem to be connecting the anticipated timeline for the well production with the regulatory and construction process for the connection to TAPS - little point in one being ahead of the other. As a programme (being used to detailed construction and development programmes in the property industry linking land acquisition/financing/procurement/build/commission/handover) it does appear somewhat vague.
As to your instinct of things 'bubbling along under the surface', I'm not seeing it. What do you base your view on?
Lots going on today, but as noted earlier, we need to see more detail on next steps. Where next and when, as there remains lots more exploratory work and proving still to do?
12.36
I'm not sure what I have to apologise for as I did not question your motives.
I may have questioned your ability to read words and correctly interpret them, hence I requoted extracts from RNSs by cutting and pasting rather than guessing what they may have said.
Having re-read my last post, I ought to have highlighted the following words from today's RNS:
"....the actual flow rates were substantially better than prognosed...."
So what's the beef with flow rates???!!! Another result!
To assist our argumentative friends, here's a relevant extract from today's RNS - it comes in the paragraph after the statements of results about the KEY objectives, and reads:
"As highlighted before the operation, the flow rates themselves were not expected to be material because the objective was to limit drawdown in the initial flow back. However, the actual flow rates were substantially better than prognosed, given the conservative approach to production in order to limit gas flashing in the reservoir and ensure the best quality PVT samples, which bodes well for future SMD development in the Ahpun Field."
It beggars belief that folks here cannot read and then start to make things up.
The RNS dated 27 September 2023 states:
"The objective of the operations at Alkaid-2 is NOT to target maximum flow rates. Pantheon will deliberately restrict the flow rates to minimise gas production into the well bore and allow optimum data collection." (I've added the capitals for emphasis)
Why therefore are some people now seemingly trying to add flow rates back in as a headline key target and THEN expressing disappointment??!! IT WAS NEVER A KEY TARGET.
As Peakybrum points out at let's rejoice at the greater than expected frac efficiency. Result!
Great news this morning on the road to building commerciality.
No getting carried away, but it would be good to extrapolate that frack to commercial levels and look what the impacts are on value.
Reaffirmation that the investment required is at sensible levels and that the goal is to protect investors from unacceptable dilution.
No surprise that the SP has not catapulted too far. For further sustained growth in the SP, I suspect we need a few more building blocks in place. Further news on the next stage in the development plan will be helpful in that regard.
I commend the 4 September interview to all investors and all interested in PANR.
Irrespective of some weasel words here which seemingly seek to question the asset, David Hobbs states, in relation to the Netherland & Sewell Independent Report on Kodiak, that it contains "About a billion barrels of recoverable marketable liquids classifying them as contingent resources"
No lies, no qualifications, no weasel words.
cb
Littledog,
For fear of your or anyone else being misled by the flow rates quoted at 11.30, you may wish to review the RNS dated 6 March 2023.
This is an extract.
"The Alkaid #2 well returned to production on 21 February, following the cleanout of the sand blockage in the final 1,000ft (c.20%) of the wellbore. The IP30 production rate is calculated at c.505 barrels per day ("BPD") of liquid hydrocarbons consisting of c.180 BOPD oil, c.325 BPD of condensate and natural gas liquids ("NGLs"), along with c.2,300 mcfpd natural gas, after shrinkage. The quantum of liquid and gas production flowing without artificial lift from Alkaid #2 demonstrates the good deliverability of the reservoir, which is a significant de-risking event for Alkaid development. When separated and sold, condensate and NGLs are estimated to achieve 80% - 90%, or potentially higher, of ANS crude oil price (ANS crude typically trades at a premium to WTI oil). Post cleanout, flow rates were initially marginally higher than pre-cleanout suggesting that despite the sand blockage the final 1,000ft was connected and already contributing to the main wellbore through the fractures communicating with each other. Alkaid #2 also penetrated the shallower shelf margin deltaic ("SMD") reservoir, which management estimate to contain over 400 million barrels of oil ("mmbo") recoverable resource. The addition of these resources to any potential Alkaid development will significantly boost economic returns. The data collected indicates the SMD has significantly better reservoir qualities than the Alkaid anomaly."
The hydrocarbon flow rate was 5x that quoted at 11.30 albeit with a small discount to take into account the condensate and NGLs.
I hope this helps.