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I'm really glad I repositioned my 88e Investment in PANR. I find it quite sad that 88e is not able to build their own exploration data (with 2 subsequent failures in 2021 and 2022) and need to use PANR's data to try and extrapolate to their acreage. Very lame and highly speculative until they can produce at least one successful appraisal well. Lame.
"too low to defend against a cheap bid of 170-200p" - why 170-200? why a such a broad range of uncertainty?
IMO there's nothing to defend there, PANR would not even remotely consider negotiating an offer in that range. Just the outcome of the Alkaid drilling could put the SP far away from the top 200 mark.
I don't expect any major move until after Alkaid. The plan for winter+summer campaign must have been developed in agreement with any interested parties. PANR will of course compute the positives from winter andnso will the interested parties but both sides will be waiting for consolidation of data after Alkaid. After that we'll see action.
Clearly trying to pass the message that further testing is unnecessary, then why planning for it in the first place? Not impressed with the handling of weather issues. Better the April revised figures show extremely facts substantiated upside.
The SP will hold strong as long as holders don't sell to those MMs that are ready to ammass more cheap shares now, playing the mixed sentiment. Unfortunately many decided to sell. Only regret I've is not having foreseen the further drop, could have followed the wave with selling and rebuying to have even more shares in hand. I'll certainly keep buying in the run to Alkaid.
GLA
All the discussions are a bit of a waste of time at this point. The results from this testing phase are all strengthening an already strong position. We don't know what is happening behind the scenes, we do know the value of the company has know plateau to almost 2x what it was ahead of this campaign. Sit and relax. And, if you can, buy the dips.
Read it carefully: they're saying SMD data good enough to be very confident we'll be successful at Alkaid later on. Let's now ammass the positives from Theta! This is a Positive RNS - buy the dip cause others will realise this is positive
I'm invested, I planntl hold, as this is my gambling share of capital. But I do share others' concerns that the latest RNS it's not what I wanted. There's more reason for caution than for excitement: "contingent upon the wireline results, in particular the MDT outcomes, as well as government approvals and weather window considerations." - this just tells me they have no confidence themselves in this stuff. Not in their wireline estimates, not in their expectations of government, not in their ability to schedule operations at right time of the season. Then sounds to me I was right sticking to my gambling cash only. Still may Luck be with us!
@08:36
Agree. Typical isn't it. It takes one slightly negative aspect to cast a shadow over loads of positives. This season campaign has been incredibly successful so far and is increasingly successful. PANR has started a journey that has got one direction only. Really exciting.
In a campaign as big as what PANR is pursuing you can't expect each single step to work flawlessly. Issues can and will happen. But I the big picture here is actually getting bigger and clearer at each step.