Member Info for Goldstinger

https://www.proactiveinvestors.co.uk/companies/news/975923/bivictrix-to-speed-up-process-of-identifying-promising-cancer-therapies-975923.html

Or better still, sell and buy back like I did last year and pocket 10% or 20% more shares. Why the pathetic rant? Me tarzan, you Jane? Or do you want to be tarzan. Really pathetic. Zero content, zero brain.
GS

Well. It can only go UP or it can go down. Someone, with mystic Meg qualities gets it right gets it right 50% of the time. Go flip a coin. Call red or black. There is a name for public display of self supposed superiority. Go shake a tail feather.
GS

Just looking back at last years timings for announcements.
*2nd March 2021 - Appt of drilling contractor after which the SP peaked at 14.3p on 12th April.
*16th April 2021 - Placing to raise £10m and no real damage to SP. Speaks volumes, no?
*29th April 2021 - Mobilisation of rig following which the SP peaked at 23p on 4th May.
*21st June 2021 - Helium rich gas shows, following which SP peaked at 27.1p on 25th June.
*12th July 2021 - Helium gas show confirmed, following which SP peaked at 28p on 6th Aug.
*11th Aug 2021 - Completion of Tai 1 well drilling. on which price fell to 11.3p, close to where we are now....
I believe DM when he tells the world that he has de-risked the prospect since end of 2021 campaign and await the news of this years drilling contracts or farmouts or deals considering the current world urgency to make this work.
So being simplistic, I would expect and feel it is very natural for this years news flow to take the obvious same path as last year. The uninterested non-believers have either jumped ship or they are eagerly side-ways glancing here to see if a feeding frenzy can be spotted. Newbies will probably arrive by the busload, one imagines.
I've average down and I am hopeful of a marvellous outcome for HeliumOne.
I don't like being stung so may look to derisk when prudent, but for now I'm holding tight for news and will keep a substantial wedge for the long term.
Good luck fellow investors and hope you can keep the faith.
GS

3rd (final) page

With 3D we can SEE the play. So when Armstrong says the Nanushuk is probably the best oil play in the world, I think we can concur with our own data. but not based on what has already produced, so projected idea…my interpretation.

Neighbouring acreage. we don’t comment on other companies…but they did say several things that indicated they have the lions share, imo.

Kuparuk when? not next season…

Depth and pressure of kuparuk needs specialist equipment..due to depth and pressures etc?

Proove up and sell? what’s thoughts? “go forward with dev plans and become a very attractive target for many companies. don’t know when and I’m not getting any younger “(Jay). Sticking to plan to build value until the right deal comes.

Santos still years away from production, compare with PANR.

Open to all opportunities - now in much better position than we have been. more options open to us now.

wrap up

Bob
incredible season. found tested proven enormous accumulations. highest resource density since prudoe bay. more confidence. unbelievable season.

Mike
Enthusiasm and internal capabilities. facilities group coming together. right team in place.

Ed
2012 3D seismic paying dividends now.

Jay
proof of this season. building out a development team. so judicious in how we have spent money and achieved so much.

WIP
Hopefully dispelling the lack of believability in panr story - building up knowledge base. We have an elephant by the tale. Exploiting with minimum dilution.

Now that IS a plan.

fingers crossed all

GS

2nd page..

During ops, SMD shutdown to freeze protect. then tried to unfreeze and warm up, pumped a frack, storm came in - 5 days shut-in because of storm, flow rates fell off. Effects of reactive clay? but did see 38% light sweet oil.
They don’t know why flow stopped! But hope to find out. They will find out!

Talitha well
SFS - tick as expected
LBFF - tick as expected
SMD to be determined

Theta west
drill to Total Depth - tick
Issue with Pumping cement - tools misconfigured, so cement stopped inside of casing.
able to get past by drilling cement out. additional pipe inside pipe 3.5 inch inside 5.5 inch.

great team work to resolve. difficult with small tools ie less than 3 inch. very delicate procedure.

from this stage on it was very delicate work, but still achieved a great result.

LBFF flowed oil - produced and sold 38.7 API oil. 57 stable bopd, matching Talitha.

A wonderful result this season.

When moving from Vertical well to horizontal wells

Expect improvements - better fracks, better lift, more advanced drilling techniques, better mapping and targeting of reservoir.

Ready to produce Alkaid2 this summer.
30 to 40 fracture stages 150 to 250 feet apart,
for 1000 feet of horizontal = 150bopd
so 450 for 3000feet
750 for 5000feet etc

next winter 2023 plan
theta west 2 (situated midway in-between theta west 1 and Talitha)
plus Tabitha B well NE fromTalitha A
possibly go back in at theta west 1?

Alkaid 3, 4 and 5 new drill producers?! Farm-ins?

Alioth 1 well on highway SMD

Oil Production begins Oct 2022!

Q&A (sorry I didn’t write all questions down)

Need to update models with all data from this year and then turn to independent expert assessment in the fall.
Already some independent (Mike’s work) assessment that supports PANR’s assessment.

BFF expanded and confidence level has gone up.

Bill Armstrong quote
most of us are chasing nanushuk (shallow brookian play) where there is a 94% success rate.

Jay thinks we could get 20-30% recoverable from the 23Billion. ie 4.6 to 6.9 billion bbls. in keeping with other fields experience and this is still conservative.

Could we benefit from technological advances?

ie long horizontal wells for example. A big yes!

Green energy alaska - still in the plan.

Possible additional listing in north america? Yes still considering.

We want to build a proper blue chip company. news flow will be by the book and consistent.

Logging while drilling - good set of electric logs

Cash position - $70 million in cash end march 22.

10 digit number discussion ( as per late 2021 deal that didn’t happen!)
Now the oil price is higher and now the projects have developed further and the risk reduced. so yes the terms have changed.
Careful partner choice to avoid dilution of our and shareholder interests.

We will be selling oil in the fall with a $1million + well costs investment.

cont'd above

I wrote a few notes. Very pleased with the webinar as we all should be. Not sure what the strange lady was watching though.

Some notes from PANR webinar (just my understanding of the event, not verbatim)
Jay Cheatham opening
Whoever owns this over 20billion bbl oil, will have huge success.
The fields will be developed from east to west, improving efficiency as they develop.
There will be over 1000 wells
we have confirmed flowability of light sweet crude in 3 different zones.
2023 - 2 rig program being planned.

Bob Rosenthal
All objectives met in 2022
We have made several significant new light oil discoveries. They are huge discoveries. largest since Prudoe Bay.

Ed Duncan
Theta West Lower BFF tremendous success.
10.5 miles step out well is a huge step out!
We found a Significant improvement of reservoir character at theta west.
We are sitting immediately above the HRZ source rock. It rarely gets better than this.
Tarn field example helps understand theta west fan but theta west is 10x bigger (60sq miles vs 600sqmiles).

We can see light oil reservoirs on the Map. But not only that, we’ve gone out and tested it, We’ve tested it.

Max depth of burial (Dmax) understanding.
incredibly important to understand. increasing reservoir degradation and source rock maturity as you move south. changes quickly to south of pantheon lease. (Almost certainly true imo, but seems loaded to discredit 88e acreage).

Roger Young
Logs analysis.More green colour on porosity logs on Theta West vs Talitha. shows twice the volume of oil in Theta West well.

Mike Smith
Rock Volatiles expert (invented mass spectrometer method) and founded AHS and invented FIV fluid inclusion volatiles. lots of patents!!

Analysis always done blind and independent of PANR.

Theta west - 1460feet of cuttings contain oil with
abundant good quality reservoirs, seals and oil. above this there is 400ft without oil, indicating an incredible sealing system.
We found oil with average 38%api. Really a great world class petroleum system.

Jerry Nichols
These are now PROVEN reservoirs. not prospects.
SMD OIP = 2.6 BNBBLS
SFS 2.2
LBFF 17.8
Alkaid 0.9
Combined 23.5 BNBBLS OIP in acreage

BOB Rosenthal
Significantly more confidence now than prior to this seasons work. When more wells drilled we expect the numbers to get better.

Proximity to infrastructure is hugely important to development.

Michael ? (operation results summary this year)
Talitha
LBFF flowed 42 bopd
SFS flowed 45 bopd
SMD obstruction to flow

Theta West
LBFF 57 Bopd

LBFF a huge discovery, an economic play, high quality oil.

More appraisal of theta west LBFF required.

But this oil is exactly in the right window for producing.

We fracture/ stimulated SFS for a quick check and really happy with the flow rate.

cont'd above..

Can't hear you Scot. I've got the cheese in my ears!
But I will ask. As it stands today. Which would a major rather buy. Spend billions (7 figures?)to meet the asking price of our neighbour? OR maybe a fortieth of that for a little farm in to an almost guaranteed 'hit' a few miles further south?
Be careful what you wish for.
GS

15.52
:-D
I used to ‘screen grab’ as quickly as I could when in web meetings at work. Don’t need tracing paper these days. But very funny, especially when gathering trade secrets and competitor info.
I usually capture the screen just after they have scribbled a few arrows and comments onto the critical slides. The info may be priceless! And gone the next minute…
GS

As usual HFB, you are right. Had fingers toes and legs crossed way too long now. I just have a small million share punt here. They need to ratchet things up and capitalise on the high energy cost world that we are faced with. https://www.elibrary.imf.org/view/journals/002/2021/152/article-A001-en.xml
The above is last years imf report for TL. Annex II amongst some of the more important points.
Finances for them must certainly rely on development of what they have below the sea bed. IMO too.
Slow burner, but we may see value here the second that they announce something positive.
GS

https://www.eni.com/en-IT/operations/green-data-center-hpc5.html
They have a world class supercomputer on the case too. Assuming that they prioritise block P.
GS

https://www.eni.com/en-IT/operations/natural-resources/exploration-model.html
On the other hand we could read ENI s website and research what they claim to be about as an 'exploration' company.
Speed seems to be of the essence.
Just saying. For what it's worth..
GS

"Notable datasets include the ET-05 2D extending across the thrust belt and the Kyranis 3D that covers the Chuditch discovery straddling the border with Australia."
https://info.tgs.com/timor-leste-license-round-2020
GS

https://www.proactiveinvestors.co.uk/companies/news/979832/hit-or-bust-exploration-is-back-in-2022-979832.html

https://twitter.com/FinancialTimes/status/1515102034416087051?t=rReb6X5XqunLDLtAqlRFOg&s=19

Worth reading maybe
https://www.sciencedirect.com/science/article/abs/pii/S0012825215300301
GS

Hi again Blingybird
I assume you mean just geological risk as there are various risks such as commercial , political etc.
I think I’d prefer to wait until the webinar before answering and even then, only they know ALL the factual data. They cannot possibly share everything with shareholders. Plus, it isn’t as simple as it sounds to come up with these numbers.
https://www.roseassoc.com/wp-content/uploads/2021/02/Schneider-2016-Engineer-on-Assurance-Team.pdf
Cos is definitely better after this years campaign though IMO. Also, for the southern neighbour, and that’s without factoring in any stock market hype and rampathons. I Can’t wait!
GS

Is there a consensus that the HK listing was mainly done because of the US legislation or would HCM have dual listed anyway.?
We were all quite excited when we were listed in HK, seeing it as a boost.
I get it that losing the US listing would be detrimental to us. But not sure I understand why we all thought the HK would boost us. It all seems a bit mysterious how sentiment works around this share. Why can't they just work on npv considering the likely approvals coming up.
Frustrated, although I'm just about level regarding profit/ loss. Given that we are expecting profitability in a few years. Bottom drawer for now. Hoping for the best.
GS

.. the herd will show up again.
https://essentialsmagazine.com.au/travel/review-east-imperial-tonic-waters-mixers/
Easter G& T time?
Happy days
GS

Thanks Blingybird. I agree with what you say.
In my defence I have never attacked Scot except to defend myself following his pathetic verbose diatribe aimed, not at truth or facts, but to rid anyone from this board who happens to have either better information than him or simply a different opinion. When he stops posting insults and apologises to everyone he has targeted he will only see the good in ppl as his reward.

In answer to Mindbender. I see Rabito79 answered your question but Happy Easter to you and all anyway.
I'm not an oil man btw but together with my finite element and engineering design experience and general lifetime interest in geology, I think I have a pretty good grasp of how things work but Happy to learn from those who can demonstrate a more focused specialist contribution.
Go easy on the chocolate eggs!
GS