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Adonis Pouroulis, Acting CEO of Chariot, commented:
"I am delighted to announce that Chariot, as well as conducting a successful appraisal well operation, has made a significant gas discovery at the Anchois-2 well which materially exceeds our expectations. We continue to conduct further analysis on the data collected from the well, but as it stands, we believe the result is transformational for the Company.
1. Prepack then construct Ice Road and Ice Drillpad to Talitha A then
continue construction to Theta West #1 location 12/15/2021 1/16/2022
2. Move Rig to Talitha A and Rig Up 1/4/2022 1/15/2022
3. Rig Moved to Theta West #1 Coil Unit Moved In at Talitha A 1/15/2022 1/16/2022
4. Theta West #1 well spudded 1/18/2022 1/18/2022
5. Theta West #1 well drilled, cased, tested, and suspended 1/18/2022 4/15/2022
6. Rig downTheta West and move out 4/15/2022 4/30/2022
7. Clean-Up both sites (Winter) 4/28/2022 4/30/2022
8. Clean-Up both site (Summer Stick Picking) – 2 days in Jun or Jul 6/30/2022 7/3/2022
There is enormous resource density in the company’s acreage, Cheatham said.
“To date, we have 16 or 17 billion barrels of oil in place without counting all of the reservoirs,” he said. “We think close to 2 billion barrels recoverable.”
Size of sp drop has been sharp and steep.
Duckles - Wonder how long it'll be before they start raising money / diving our more shares to the market
Quarterly report suggests -
"The net cash position is considered sufficient to fund corporate costs and also facilitate the acceleration of exploration programs at Panton well into 2022."
"a process to farm-out PEL0094 was commenced and is ongoing."
Trumpton I expect you are aware of the speed of the farm out process.
"We are pleased to present to you the Global Interim Financial Report for the half year ended 31 December 2017" -
"the Company announced it would be conducting a structured farm-out process in which it would be advised by Stellar Energy Advisors." (that did not last long)
" The Company remains committed to pursuing its Italian applications through to award, along with the Namibian project where the farm-out process has recently commenced with a view to seeking a partner to fund future operations on the Block, commencing with a 3D seismic survey. "
Future Metals -
June qtr highlights -
"Progressed AIM relisting process. Expect AIM relisting to occur early within Q3 2021"
There is only one week to the end of Q3 !
"The Placing will position the Company to part-fund the new licence commitments, as well as provide general working capital, including the possible pursuit of other strategic options, as previously communicated."
The BoD could not find other options when they had £16m available, so I suspect this comment is supposed to justify their reason for still having their noses in the trough.
Fair points Justone.
Seems strange that we sent Perlite samples to five different customers yet are just trialling pozzolan with one cement company.
Any news on the perlite?
We were told -
13.1.21 Mining of additional 200-ton perlite sample completed and delivered to processing site.
16.11.20 Perlite samples now sent out to potential customers across the USA for expansion testing
16.11.20 Processing of 100-ton bulk sample of perlite completed successfully
27.10.20 100-ton bulk sample of perlite to be processed at the end of this week..
27.10.20 Approx. 20-30 tons of coarse horticultural grade raw perlite to be split between five different customers across the USA for expansion testing
As always it should be borne in mind that this is yet again a management number and one in which it is they who are putting their own numbers into a higher resource classification. It may be that until these huge numbers are independently verified the market will be reluctant to convert in-house numbers into a higher share price.
It may be that so far there has been no joy on the farm-out front which again is somewhat mystifying given how many billions of easily producible barrels the company has. They announce again that they are in discussions with potential farminees and hope to do a deal in the 4th quarter of this year, that may be the time when the shares start to motor.
Pantheon has a loyal bunch of shareholders who are totally convinced that this really is the golden ticket and I hope that they are right. Once the potential problems are sorted, ie a CPR, a farm-out and of course raising money needed to develop the asset they will have their day in the sun, maybe a good farm-out will mean that someone else will step in to pay the costs…