Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
Looks to me like thats all the sellers gone
Conventional Farm out or further winx update?
Who knows maybe even Yukon
Strong finish and a UT of 1.22p
But in my opinion the 1,500,000 buy at 1.17p in last ten mins is more encouraging.
More of the same tomorrow please.
Best lines in todays RNS are as follows...
Dave Wall - ''It is also worth noting that the first exploration/appraisal well of the season, Pikka-B, has been reported as encountering high porosity, hydrocarbon bearing sand in the Nanushuk Formation, on trend and 15 miles to the north of Winx."
They are in reference to this...
https://www.oilsearch.com/__data/assets/pdf_file/0008/28457/Pikka-B-well-in-Alaska-encounters-hydrocarbons-in-the-Nanushuk-formation.pdf
There is a now a clear sentiment change going into the run in to Winx drill. Helped by Oil Search and the great news this morning, from the same formation we are targeting.
Also throw into the mix a conventional farm out that is due this quarter. That could come any day now.
Two transformational events.
And not to forget Yukon the surprise package.
I am a happy man this morning.
Pikka B finding high porosity hydrocarbon in Nanushuk formation is the big news in this RNS.
1.1p now being paid.
A close of 1.12p on par with ASX would be welcome.
It will soon dawn on investors that we are on the cusp of two high impact events.
1) Winx spud in one month
2) Conventional farm out which could come any day
Now up 1.44%
Decent flow of buys coming in.
Mind the gap.
ASX closed 2c = 1.12p
Current AIM price = 1.065p
Mind the gap.
How many shares are you looking to buy? Currently I can get a buy quote for 600,000 at ASK price. Any more shares than that and ASK is 1.069p
Yes been a complaint of a few this week.
BR: "The Winx well will be situated 4 miles east of the Horseshoe discovery announced by Repsol/Armstrong in March 2017. As a reminder, Repsol reported that "the Horseshoe discovery qualifies as the largest US onshore conventional discovery in 30 years."
BR stated the Winx well is targeting the same "sort of rocks, the same type of formation as the Horseshoe and that the amplitude surveys around Winx showed similar responses to those around the Horseshoe discovery". Fascinatingly, BR stated GBP wasn't particularly surprised by the success of the Horseshoe well as GBP had made the decision to pick up the 4 acreage blocks around Winx back in 2010/11. This area of c.24,000 acres is distinct from the larger GBP acreage (c.225k - 250k acres) further to the east and the success of the Horseshoe supported GBP's geological thesis on the immediate area.
BR: "If the Winx well is successful, the major O&G companies to the west, eg. Repsol will most likely need to build infrastructure through the Winx acreage blocks to obtain access to the main TAPS pipeline linking Prudhoe Bay to Valdez in southern Alaska." I felt he alluded to the possibility/probability that Repsol would be the most obvious major with which to negotiate, at least initially, if the 4 parties involved in Winx were looking to partner with someone to develop the area.
Posted by alistair4444 on HC
https://hotcopper.com.au/threads/pantheon-buys-great-bear-winx-lease-london-meeting-notes.4604513/?post_id=37119237#.XD3Byi2cb-Y
Pantheon Resources plc (Great Bear Petroleum)
London Annual General Meeting 14th January 2019
Just a few of the notes scribbled from meeting thanks to poster Scot126 on subject Winx-1 well & area
Dear All - my customary summary of this morning's events at the General Meeting follows. As I hope many will realize, these notes were taken in a busy room and I urge fellow attendees to correct the points detailed below if you feel I've made an error. In no particular order:
Bob Rosenthal (founder of Great Bear Petroleum - GBP), now technical director of the combined group, said that GBP's 1000 sq mile of 3D seismic was the "largest contiguous 3D seismic study anywhere in onshore North America".
Bob Rosenthal (BR): "$200m is the sunk cost over the GBP acreage, a figure which does not include overheads."Bob Rosenthal: GBP has a "P50 Technically recoverable resource of 2.1 billion barrels of oil." Of the $200m of sunk costs within GBP's acreage, c.$85m has been spent on the 3D seismic studies. The balance has largely been spent on 3 wells and leases.
BR: "The Winx well is due to spud on 15/2/19". As far as Bob is aware, the preparations for this well are on schedule. I agree with a previous poster who recommended listening to the Red Emperor CEO's interview. I had a listen using the link kindly provided. All seemed reasonable and entirely consistent with what we heard from Bob Rosenthal. It's pretty clear that Repsol, ConocoPhillips, Oil Search, and Armstrong Oil & Gas are the major players in the immediate area around GBP's Alaskan acreage and we should all keep an eye on their announcements as they pertain to Alaska. Seems to me they'll be the key companies driving the development of the acreage to the south and south-west of Prudhoe Bay. For Winx, it's worth setting alerts for news from 88E (the operator), Red Emperor and Otto Energy.
BR: The area around the Winx well is made up of 4 distinct blocks totaling c.24,000 acres. PANR has a 10% free carry on the well, with a "back in" right to buy back a further 10% for the capped figure of 20% of the well's cost. Obviously this "back in" option will only be exercised if the well proves to be a success and PANR has a period of 6 months (I think, happy to be corrected?) within which to exercise their "back in" option. If the well is a success, I reckon the back in cost will be no more than $5m.....I'll attempt to confirm this figure and report back. Someone asked an excellent question which was to inquire if the % interests for the Winx well pertained to just one of the four leased blocks in that area or all four. The answer is that the % working interests for the Winx well are reflected on all four blocks.
https://hotcopper.com.au/threads/petroleum-news.4478719/page-55?post_id=37097153#.XDuK2i2cZKM
Correction: I think maybe because just one market maker on the ASK right now and must have limited stock.
I think maybe because just one market maker on the bid right now and must have limited stock.
I tried doing a quote for £3,000 but was offered 1.077p which is over the current ask.
Give it some time and you will get the amount you want.
Who is this Paul guy on twitter calling a takeover?
Anyone believe him or know him personally?
Yes brom a surprise package in itself which will be unveiled soon.
Many companies would love to have it as a stand alone project.
We have it as one project out of four!
With that £10,000 buy
10th Jan already... time flying by.
Q1 all set up for WINX drill and conventional farm out. Two transformational news items.