JH another shorter haha. Why do they need money JH and how much have they burnt in the last 2 months? Do you know the cost of a side track? I bet you have no answers to the above.
No urgent need for cash and certainly not for the number 1 well!!
So much for TW predicting Panr to go bust in a month. If your reading TW they plan to side track in July and that involves hard cash which they have. Your reputation is further dented and hope your fellow shorters get burnt today on the stock.
I’m my view 5 will have to be side tracked or redrillled if it is confirmed that they hit a water section and that the whole area is not flooded with water. They don’t need to do anything with 5 if this is the case until they get 1 up and producing. This is their intention anyway from the interview
GG - redrilling number 1 will be around 2m to Panr. On a success case the shares will be higher and then they may choose to raise cash. Number 1 may provide enough cash after 3 months to drill another well as jay states in his interview. Do you agree?
There is so much utter nonesense from some posters. Some of whom I guess work for TW and some others shorters. The view of needing a placing is utter garbage. Someone please explain why they need a placing when they had 5.8m at the end of March. Explain where they have been spending the money in two months?
Even if Panr came out and said they have to side track or re drill number 5 then I think the market will be happy. The concern is if the geology is the impact which is not the case to date.
I think many believe / believed number 5 was a duster - it’s not. It’s a problem that can be resolved and worse case is they side track or drill again!
Got to say when you delve deep into the website and the service offerings and how all this works, it’s pretty impressive. There are also quite a number of real case studies ! AGM next tues!
Nasty because some of your messages contain false info and you are scaring people into selling. Would not mind if you took a balanced view but your just negative. Karma works in many ways!!
Abosolute field day for the market makers today. They will be making huge amounts and created panic sellers and margin calls to kick in. An approx £4m well to drill - £2m net to Panr and is not an abondoned well and you have over £50m wiped off market cap. Ludicrous.