RE: One of the best oil stocks?15 Jan 2026 06:47
I agree on the potential asset position Mark, as well as the director buying. Setting the price of their share options high when the SP was 17p was a positive, as was the buying of a million at near 70p by a NED.
The story has changed a bit though in that the plan was that production from Megrez and Aphun, better located, was going to fund Kodiak over time. Now the talk is of farm out instead as that route looks less likely (as a minimum) We also haven't shown the ability to extract successfully yet, which would have in turn increases the value of our prize asset Kodiak.
We risk going to the market (funder or partner) in a position where we aren't as strong as hoped and so getting a worse deal than originally thought.
It's a long way from ideal but equally the assets are there, even though getting them out of the ground in volume commercially still hasn't happened to date.
I'm not sure what will happen here in the short term but the Panr share price has been historically bumpy and I think some recovery will ultimately happen even though from where to where is an unknown. Director buying the open market where possible and / or Michael Spencer adding would both be positive developments.