Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
3 million share buy just gone through.
There's quite a bit of buying going on but the share price seems to be getting cheaper.
this isn't moving at all currently. Seems strangely inert.
Yes, at a very good price too.
... and I've changed the look of this page at last. Good luck all.
I saw those trades at the time and assumed they were an error with, or some sort of 'creative positioning' of, the decimal point. But I was wrong. They are what they are.
Quite amazing to think that such huge quantities have been sold at one tenth of one penny!!!
103.3% nominal spread now. You couldn't make it up. Is that a record? Very depressing. Come along Howard, do something.
For anyone who may be even slightly interested (!), the British Bulls website has now adopted a BUY recommendation on PANR (changing from previous QUIT (never seen that one before but I assume it was for some sort of technical reason) and STAY IN CASH signals). I haven't seen a BUY recommendation for weeks. I know not everyone cares much about this sort of thing but at least it could generate some interest.
Anyway, there you go, better than I poke with a stick and there seemed to be some buying interest occurirng late yesterday afternoon so maybe we have bottomed out. Good luck.
Yes indeed, Phil.
This is the only share I know that can dart from the top of the leaders board to the losers board within the space of one single transaction. Truly remarkable. It does get the blood pumping,
Well done george for taking profit. Nicely timed. Not surprising that there has been a bit of selling following a ca. 35% rise recently.
On the surface, today has been a bit of a down day but, looking a bit deeper, there have been some large buys tucked in there too. Pretty huge in fact. Good stuff. One day our day will come.
Extract copied from Malcy's Blog today, featuring a rather nice tribute to the late Bob Catto ...
Bob Catto
I only heard recently that Bob Catto has succumbed to his long fight with cancer. Bob was a very fine investment manager, at Williams de Broe when I met him but subsequently at other firms. Although he was an across the board finder of superb investments I knew him latterly in the oil sector but particularly as an avid believer in Pantheon Resources where he stayed loyal to the end. I always respected his advice, often delivered with caustic honestly but always with a smile and a glint in his eye, I will miss that and his left field ideas.
Nice to see for a change, what a difference some good PR can make. Good luck all.
New article: https://www.alaskajournal.com/2020-04-08/new-data-old-well-add-major-north-slope-find
Company leaders are hopeful development could begin in 2022 or 2023 if the global pandemic and subsequent economic shutdown do not persist for many months.
Cheatham and Rosenthal told the Journal in January that they planned to drill one or two more wells this year around Alkaid-1 and initiate a long-term production test, but that work is on hold at least until travel restrictions ease.
They acknowledged that Pantheon will need to find a partner to help finance large-scale development and that is challenged right now as well.
However, when Pantheon begins in earnest its search for financing for its projects, Rosenthal said he does not believe the company will be hampered by the decisions numerous investment banks have made in recent months to stop funding Arctic oil developments because Greater Alkaid and Talitha aren’t in sensitive or otherwise controversial areas.
“When they say ‘Arctic’ they mean offshore or ANWR or things like that,” Rosenthal said. “I don’t think there’s necessarily a blanket ‘we’re not going to fund anything in Alaska,’ but it’s up to us to send out a positive message about what we’re doing.”
Cheatham said the project economics — and again, location along existing infrastructure — will be the ultimate deciding factor in whether or not Pantheon gets the money it needs for its work.
“We are economic really at prices that are so low that if any large projects get new funding we believe that ours would be right at the top of the list,” Cheatham said.
Thank you. It's like a John le Carre here sometimes.
When there are more visible buys on the system than sells is the price to buy getting cheaper?
Polite answers please.
All rights MGW, copied from blog today:
Pantheon Resources
Following the unsuccessful well reported by 88E and Premier Oil earlier this week, and to be fair some voluble feedback from Pantheon shareholders, I thought it would be good to fix a meeting with PANR to see what the position currently is. I did meet with top management when the shares were suspended awaiting an experts report and yesterday I wanted to check that I was up to speed with events.
Pantheon, through last year’s merger with Great Bear Petroleum has a high impact project on the Alaskan North Slope where it controls 200,000 acres to the south of the historic and huge Prudhoe Bay and Kuparuk fields and with the TAPS pipeline system nearby and the Dalton highway on its land has excellent infrastructure.
Following the successful Alkaid well last year the company commissioned an independent experts report which gave the company 76.5 million barrels of contingent resources with an overall P50 of 1.2bn barrels of oil equivalent. Clearly all these numbers are huge and whilst they make Pantheon potentially massive it is clearly a requirement to find a partner, indeed they are keen for it to be the ‘right’ partner who has to be prepared to commit a substantial amount of capital.
Having said that, finding the right farm-inee will not be easy although ironically, speaking to the company yesterday the conventional ANS has greater appeal than the shale already shutting-in. One of the reasons for proving how hard it is to find a partner is more to do with the virus and that the data room is a physical one, albeit in Houston making it hard to visit just now.
Pantheon clearly has an absolute monster of a potential project, it has high quality directors, shareholders and first rate advisors, indeed a geophysical contractor was so impressed with what they saw they wanted their fee in shares, not possible but a 1% royalty has appeased them. Pantheon are in an amazing postcode and with a partner and when action can begin the value will start to transfer to the shareholders.
It is almost impossible to calculate how much this acreage could be worth to Pantheon, perhaps a 20 bagger, maybe 50 but that can only happen when the partner is found and while this may or may not take potentially a long time management and shareholders remain confident and prepared to wait.
Very odd for MGW to even mention us, let alone be positive about us. I had to read it twice.
1 million share buy at 15p. Malcy's comments maybe done the trick.
Agreed, Phil. I am also of that mindset.
Just frustrating when things looked to be warming up and then get sold into. Classic example of bottom drawer stuff here. It's just tempting to keep opening the drawer now and again to see how it's doing. Quite prepared to lose my investment here. It will come as no shock, if a slight disappointment. I have a punt here only.
Not very encouraging, with news imminent, to have people selling massive chunks at paltry prices. I wish the bod would give us a sniff of good news soon. This is painful.