Member Info for davidblack

A lot of that inward buying is going to be index lead too. Once the share price is above 25p there should be steady support coming in from funds who are forced buyers because of compliance and the need to invest in apparently liquid stocks. However with 80% of this in firm hands there may not be quite as much stock around as they need which should squeeze the stock up further.

Hopefully there will be a few shorters burnt as things unfold.

Agreed “Cautiously Optimistic” too but happy that this is moving in the right direction.

Hopefully the Texas holding is being tidied up too along the way. I haven’t given up on that just as long as it’s Bob Rosenthal setting the drill targets and not Jay who probably hasn’t done any serious field geology in 40 years.

Geologists who become “Suits” normally aren’t so good at going back to practical geology. Best to leave that to the ones who stayed I the field.

GG it’s clearly a very good deal firstly because of the oil uplift and secondly as Pantheon can on a 50:50 deal avoid being a minority partner.

The only thing that undermined the day was another stock overhang has turned up which was entirely predictable with the share coming back to the 18p placing area.

Hopefully the broker will place that stock and Pantheon can move up ahead of any JV.

My guess is Halliburton are going to get the lions share of any future drilling! Nothing comes for free! Even if Halliburton was conflicted to hell by that 25% share. Also they probably didn’t want to write that $5m back in cheque?

Anyway a good day and another thing ticked off the “To Do” list.

But if you are missing it FK will give you 20 posts a day on his thread at ADVFN.

But just for those nostalgic souls?

Indeed lots of news to come.

Yes I agree post the AGM there seems to have been a step change in the company.

A move from plucky minnow to something more serious as an oil company?

Time will tell.

MO you seem particularly positive of late?

Any specific reason?

It’s almost like people are turning positive! Shock horror!

Indeed and you can say that four out of five times, but the fifth time?

Fingers crossed and hopefully that barge has something for Casp on it.

Getting some action out of A6 or 801 would transform sentiment towards the Deeps I believe.

MO have you heard of anyone else using the Baker Hughes acid technology in high pressure formations with success?

Sufficient funds to start repaying KO in the months when the weather is too cold to drill another Deep well!

Now who would have imagined that 12 months ago!

Revenues net

August $547,000 (old pricing)
September $1,224,000
October $1,350,000 (MO’s estimate)

So October should mean there is an $800,000 increase in revenue to fund growth.

The Deeps will come but the real story of the moment is self funding is now coming through.

Sounds like they are expecting volumes to rise?

Liked the fact three more MJF wells May be pumping cash from January first.

That’s a million more per month to speed up things.

The rise in production is a nice boost and hopefully another couple of wells will be worked over in the next month?

But the big thing was that there are three new MJF wells heading for starting production by the year end. That should add 1,200 bpd to revenues and at $30 net thats a million dollars more a month.

MO what giant equipment would Caspian need?

Then time for you to depart. This has been a rough ride and will do nothing till the JV is finished. Hoping it doubles or trebles then but who knows?

Many thanks George, exciting times coming it would appear!

Nice to hear that Bob and Justin were listening to shareholder concerns.

As for Bob Rosenthal coming across the pond for this update my gut feel is he must be here to talk to potential JV players with Premier probably amongst those who he might be “Taking tea with?”

But possibly that’s just my conspiratorial mind misbehaving?

Hopefullysome of the failure was down to Mr Grays willingness to use marginal contractors at a time when the Permian was grabbing all the best kit and crews. That’s no longer remotely the case.

Also would be nice to understand just how much he relied on gut as against seismic?

Hopefully the future there will be a bit more technically disciplined?

I was hoping they had made some progress in Texas as wells there are inside Pantheons price bracket. Alaskan wells at $20m require partners.

Also having options in Texas means potential Alaskan partners are less able to dictate aggressive terms.

It might seem left of centre talking about Texas but it as a negotiating chip may be very important in the long term. Also getting some real cashflow would be nice!

Anyway I look forward to your thoughts on today.