Member Info for dai2belts

Rights issues, placing all the same to me, dilution and flippers...

First tranche already covered, shares loaned and sold, return on conversion at the low, maybe..

If the company has another duster, MC will half on results, and funding will be the issue again.. also unless He1 start getting some excitement going there will plenty of de-risking into results...

The last drill, if it went like clock work would'nt have seen 6p, and I would have been caught by the sell off on results..

If this one goes like clock work it could catch people out with an early TD...

I have IG to thank for his post, which reinforced x6 being pants..

@Tro, your suggestion of a CLN,,

The company has no cash, and the chances of a duster are far greater than not.. So if they are drilling in Jan, and a CLN is agreed this week, when is the best time to convert those shares into cash to guarantee a profit...?

Before the announcement, so some form of selling in advance , or on news which risks the market holding for lower than the conversion price

Even then if they need £3m, at 1p per share they still need 300m shares....

What gets me, is that quote of $2m for formation testing, originally the plan was the use a mineral rig to drill 3 wells, perform wire-line logging and take down hole samples, all for $5m..

But using BH, suggests $6m just for testing

They then raised another £10m, just £3m for the appraisal wells, which were new wells, which must have required flow testing, maybe they only expected to have 1 discovery but still testing is no where near £2m.. ?

Appraisal well drilling: £2.4 million

· Enhanced well completion: £0.5 million

· 3D seismic programme: £3.8 million

· Feasibility Studies and licence fees: £1.2 million

· Additional operational contingencies, working capital and expenses: £2.1 million

DELT,,, two drill 2024, on a low...21p

05-Dec-23 Canaccord Genuity Speculative Buy - 240.00 Reiteration

Sure this is the 3 rd predicted Jan drill by the veterans of the wet season, 1st was the water rig, then its was the Predators backup Exalo, and now the Predator.. Regardless of drilling in Jan or later they still need funding to meet all the other commitments.. Thats probably been ring fenced, maybe.. With their luck it will p i ss down, and the rig will take lightening strike..

Seems plenty of AIM companies using CLN funding to keep the lights on with no income, price is volatile, large buys start a little speculation news is coming, followed by a fall, then announcement of the CLN, then another rise.. Sure the provider has made their money on the fall, bonus on the rise.. I they have a poor arrangement, they big it up, only to later announce a better deal that pays the 1st off.

Who knows...its a gamble if you dont know whats happening behind the scenes..

If funding is announced tomorrow will the market hold for lower, or buy .. ?

@Wolf, you only want drilling in Jan so you can push the rains :)

At the moment they have a rig, unproven assets, and a BOD with poor track record, but hopefully no debt and tax losses

@Hasiba, I think PRD have been drilling 1500m wells, in about 14 days, followed with wire-line logging, no flow testing.. typically raising £3m..

Maybe if Keith looks in, he will have the figures..

@Hasiba, she declines all financial info, Dec 2022 raise we had a break down of cost to justify the raise, DM was CEO..

I dont recall any details of the funds allocations for the last raise...

Thats I believe was for Exalo's Rig 202

@Hasiba the rig was up sale for $2.8m dollars, skittish spotted a sum in the financials June 2023 of $2.1m for a sales and purchase agreement.. That has to be the rig...

Cost of Drilling Tai, Decembers raise

· Drilling rig: £2.07m

· Drilling services: £0.75m

· Civils: £0.36m

· Formation evaluation: £2.05m

· Drilling ancillaries: £0.35m

· Tax: £0.88m

· Additional working capital: £0.99m

And Horult, ta

@PortFolioPower, I nearly missed that post, thanks

The planned world’s first commercial helium gas exploration plant from hot spring site intends using the non-cryogenic PSA technique, what ever that is..

@Tro, fingers crossed those who top up at a penny get a nice bonus too...

And Lorna, becomes Lucky Lorna

@Gogs, what did you say, she is a looker..

Noble put another A$0.95m skin in, makes you think....

And that Helium from water looks plausible, especially from Geothermal sources, and their Mbeya licences border those of Tanz Geo Companies ...

India, Bakreswar is estimated to produce 60,000 commercial cylinders per annum of helium or around 15mmcf/y, thats 15x ISO

15,000x450=6,750,000

Not sure this is the plant, but it could well be...

https://www.researchgate.net/profile/Hirok-Chaudhuri/publication/301548386/figure/fig6/AS:353253872160769@1461233694299/Photographs-of-helium-plants-installed-at-Bakreswar-and-Tantloi.png

https://www.researchgate.net/profile/Nisith-Das/publication/279907900/figure/fig1/AS:500309173522432@1496294410700/a-Raw-gas-filling-station-at-Bakreswar-b-Existing-helium-enrichment-plant-at-SINP-VECC.png

Https://www.lse.co.uk/rns/PANR/successful-acquisition-of-leases-vhys6rit3w68cg0.html

Part 2

Resource Updates: We believe the new lease awards heighten the interest in the forthcoming resource updates expected to be provided in early 2024 by NSA – representing a critical forthcoming milestone prior to an FID decision expected for Ahpun by end 2025. In today’s announcement, the company provided its own resource assessments and chances of success (see Table 1) – we are talking about the award of world-class resources.

Part 2 of WH Ireland reaction

Upcoming webinar: Consistent with its philosophy of providing complete technical disclosure, Pantheon will be hosting an investor meeting on Thursday 14th December 2023 at 5:00 GMT – we believe that will be one of the more exciting presentations provided by the company due to the sheer scale of the resource secured via the leasing program and the updip nature of the Kodiak acreage. /end

Dear All - please find below WH Ireland's reaction to today's RNS. dated 14/12/23.

Pantheon Resources

Successful Acquisition of Leases Over Updip Kodiak and Eastern Ahpun

Pantheon Resources announced that pursuant to its leasing programme it has been awarded 66,240 acres on the North Slope covering i) substantially all of the anticipated remaining conventional reservoir potential in the Kodiak Field (43,200 acres) and ii) the eastern extent of the Ahpun Field (23,040 acres). Importantly, the newly acquired Kodiak acreage is updip (higher, shallower) relative to the main body of the field and therefore expected to benefit from better reservoir quality (less compression, higher permeability and higher porosity). In the case of the newly acquired Kodiak acreage, the company believes that the ultimate resource classification will be determined following reviews with Netherland, Sewell and Associates (“NSA”) and SLB. In the case of the new Ahpun acreage, the company stated that it believes the resources would be classified as “prospective” until drilling results (the confirmation of producible hydrocarbons) provide confidence to reclassify the resource as “contingent resources” and ultimately as “reserves”.

Terms: Pantheon’s winning bids averaged $31.83 per acre including fees. The company detailed that when the leases are officially awarded by the state of Alaska, estimated in 4-6 months’ time, they will come with a 10-year initial term, an annual rental of $10/acre and royalty rates of 16.67% (28,800 acres) and 12.5% (37,440 acres).

Significance: We believe the successful licence award is significant for Pantheon Resources because it secures the substantial entirety of the updip / better resource potential of Kodiak and the vast eastern potential of Ahpun. The newly awarded resources would also be included in the expected forthcoming request for development consents from the State of Alaska.

Stealth: Pantheon has extensive proprietary 3D seismic data acquired in 2014. Critically, the company moved big on its leasing program prior to that seismic data becoming partially available to the public in 2024. Prior to today’s announcement, we believe that for commercial reasons the company has been discreet publicly in respect of the potential of its newly acquired leases. We believe it is a mistake to confuse that discretion with the potential significance of the newly acquired leases.

Go to look back to the 14th Dec

https://invst.ly/12pkhu

From Scot126

Canaccord reaction to today's RNS14 Dec 2023 14:49

Dear All - Canaccord note below

Oil and Gas, Exploration and Production | Flash Update

New leases complete control of the potential development areas

Price 17p | Market Cap £159.9M

SPECULATIVE BUY

PRICE TARGET 105p

Canaccord view

Acquisition of leases expands Kodiak and Ahpun coverage

Pantheon has been awarded over 66,000 acres of new licences on the Alaska North Slope, neighbouring its current 193,000 acres. The company believes that this gives it essentially all of the remaining conventional reservoir potential to the north and west of the Kodiak field, and the full potential extension of resources to the east of the Ahpun field.

This is a significant step, and with 100% working interest across all this new area and the rest of the company's licences, Pantheon's position and control is secured for the long term.

Kodiak: Pantheon has added 43,200 acres to the north and west of its current licences, over an area which the company believes - from the drilling results to date and the 3D seismic data - to offer improved reservoir quality and a significant potential uplift to the resource base.

Ahpun: Pantheon has added 23,040 acres to the east of the currently defined field which could be largely conveniently accessed from the west side of the Sag river. Notably, Pantheon sees potential for improved reservoir quality in shallower reservoirs than currently evaluated.

Timetable: The 3D seismic data which covers Pantheon's current licence area and beyond is due to become publicly available in 2024 and so it was essentially to tie up the maximum development potential ahead of potential competitor interest. This licence award achieves that.

While Pantheon has achieved the winning bids ($32/acre), the leases will be formally award by the State of Alaska in 4-6 months. Royalty rates are typical for the area, ranging from 12.5% to 16.7%. The licences have a 10-year initial term.

Volumetrics: The company has estimated best case gross (at 100% WI and pre-royalty) recoverable resources of c.1 billion barrels (63% Western Kodiak leases; 37% Eastern Ahpun leases) associated with the new licence awards. These are based on a range of recovery factors from 8-20% depending on reservoir specifics.

Pantheon believes the Kodiak area licences resources have a >90% chance of success, and the Ahpun area licences have 70% chance of success.

Independent resources report: A full review of all the licence area (previous and new) is underway and being conducted by Netherland Sewell & Associates (NSAI) and SLB (formerly Schlumberger). The company is targeting NSAI to provide its report on Kodiak in Q1 24 and on Ahpun in Q2 24. We anticipate those will be important updates with potentially significant market impact.

Pending those independent resource updates, we maintain our risked NPV10 based targe