Member Info for Olderwiser

Simple enough decision, who to trust, real oilmen with current exemplary CVs, spanning decades, or an actor pretending to be an oilman

A bit of transcription from the OTC presentation

https://www.youtube.com/watch?v=JJ7DvA8gK9s

David Hobbs

So one final quick question, which was .What's the case for owning the shares today, rather than waiting until next spring or next year to own them

The answer is that, when you've got a share that is currently trading at $300 million, mostly on the basis of people's skepticism, about the ability to finance development without significant dilution, you may wake up one morning and find that that assumption is no longer valid, and the share price has shown, that when it runs it runs, so of course anyone who wants to to own shares with a higher cost base, should wait and buy later. and anyone who wants to take the ride as it currently is, should be happy to be a share owner today.

We are in discussions around financing of the developments, and in terms of the next news flow , we're expecting now, probably the Netherlands report on the Alkaid zone of interest , in I would expect the first quarter of next year ,to be followed by the report on the SMD, which will incorporate obviously, the results of the of the recent well test that we announced this morning, but we in between those times, we are progressing discussions on financing, and of course, we'll announce as soon as we have Arrangements in an announceable form. Which I would expect, to be over the course of the coming weeks and months, certainly we'll have more to say on that, before the end of the first quarter of 2024

So they're exciting times, doing an awful lot of boring things, and the key question that that I know we get asked repeatedly is, why should I be invested in Pantheon, and the answer is simply, that if we can achieve cash self-sufficiency that underpins then our position as a price maker not a price taker

And we have a minimum of a billion barrels recoverable, as already certified by independent experts, and an appraisal program leading up to the development of Kodiak, that could well take us as Jay says, towards those P10 numbers as our base case. Then anyone can do the math and realize, the gearing that's there, is from a $300 million market cap to whatever the outcome would be, at one to two billion barrels at 5 to $10 per barrel

2 billion barrels of recoverable oil, handy to the pipeline, in a stable oil friendly state. With the targeted frack efficiency improvement to 40%, required to be commercial,.

Now exceeded by 25% with the announcement of a 50% frack efficiency achieved in the SMDB flow test

Yes I will seek help, mostly in the area of tax planning

Posts dont last long when Louis is involved it seems

Reposting

Bears repeating in light of Oilman Jims continued pivot to the positive on PANR. Albeit premised within the invention of a new scape goat, We get it, PANR is OK now, its the shareholders that are the new problem LOL. The fact that shareholders have accurately fact checked, and corrected Jims misinformation, makes them some sort of evil cartel.

WOW, and then rather than debate the substance of the matter, Jim blocks them all, the pesky blighters fancy bringing fact onto his twitter space

"Oilman Jim is facing a dilemma now, his biased unresearched negative slanted reporting has come back to bite him, as more data from PANR comes in proving the biggest on land discovery of 2022, is going to be highly exploitable

It leaves the question on how he can maintain any credibility with his subscribers, when he has so publicly misjudged and misinformed on PANR.

As PANR emerges as a high value oil share, eventually driven by oil production and massive oil resources. How on earth did a so said experienced oil man, miss the obvious trajectory, the data showed so long ago, instead choosing to cast libelous labels like scam over twitter etc.

Dear me Jim, but I see last weeks post on the blog, is now moving towards endorsement of PANR as a success story, subtly shifting the narrative to the positive. The results are now overwhelming the flimsy fabrication he held up as fact for so long.

There is no where to run when the wells are flowing, and your marks show how they sold out at around 10p after reading your slanted opinion. You could have scored some credibility if only you had endorsed the fundamental value at that point. Clueless or deceptive, your pick

A face saving position being created by the discredited Jim, as he now knows how this will end. Him being proven 100% wrong, as PANR prove to be the one in one hundred, that make the right early stage oil company worth the risk reward"

Another clean example of Louis10 posting misinformation. It is true posting the below, did generate, the expected barrage of mindless insulting from the short crew,. Water off a ducks back to me

A fine collection of disinformation distributed by the newly motivated short attack crew today, the sky is falling, the sky is falling sums it up.

But no the sky is bright and blue, its just that chickens are not very clever

Reposting a section of a previous post, written prior to the successful flow testing of the SMDB at Alkaid 2. This key outcome has now been bettered in achieving 50% frack efficiency, it is the key to commercial success. Now that it has advanced from being modelled as an out come to being a proven outcome, that is the proof required, the economic modelling has already been done on a conservative set of assumptions, it goes up from there

Test the new frack design

This is a key outcome. Alkaid 2 achieved a frack efficiency of ~20%, meaning only 20% of the possible design limit was achieved. In the modelling for the economics PANR have assumed they can get to a modest 40% efficiency, as a bench mark in other reservoirs 80% is the target.

If the 40% is achieved in this vertical test, tick that off the risk analysis calculation, as the geology has then proven itself amenable to this generation of fracture design, and can be reasonably extrapolated over the other reservoirs.

Stating it again, this is key, as it proves up the viability at 40% efficiency, where fluids recovery per 1000ft of horizontal doubles, so confirming the economic models are going to be achievable

This fracture can be considered the equivalent of a single stage in the 30 stage Alk2 horizontal, but will have the benefit of the enhanced design, made possible by the data generated from the Alk2 horizontal. To keep it real, it is a cheap bonus test of the new design, Tony Beilman is confident, but it not proven till the results come in

Further to these, the SMDB has better reservoir characteristics in porosity and permeability due to its lower burial depth/compaction and its delta distribution, rather than floor or slope accumulations

I need some dollars for petrol, so that I can go to the bank, and draw down on my assets. I would be foolish to let it impede me

The BOD have very clearly stated the pathway and intention to minimize dilution, In fact they recently pulled a rabbit out of their hat, in the convertible note arena. Old Jim did not see that coming either, he should widen his vision to the full realm of possibilities, and then take comfort in the knowledge, the very capable BOD are going to make the best of it for shareholders

A fine collection of disinformation distributed by the newly motivated short attack crew today, the sky is falling, the sky is falling sums it up.

But no the sky is bright and blue, its just that chickens are not very clever

Reposting a section of a previous post, written prior to the successful flow testing of the SMDB at Alkaid 2. This key outcome has now been bettered in achieving 50% frack efficiency, it is the key to commercial success. Now that it has advanced from being modelled as an out come to being a proven outcome, that is the proof required

Test the new frack design

This is a key outcome. Alkaid 2 achieved a frack efficiency of ~20%, meaning only 20% of the possible design limit was achieved. In the modelling for the economics PANR have assumed they can get to a modest 40% efficiency, as a bench mark in other reservoirs 80% is the target.

If the 40% is achieved in this vertical test, tick that off the risk analysis calculation, as the geology has then proven itself amenable to this generation of fracture design, and can be reasonably extrapolated over the other reservoirs.

Stating it again, this is key, as it proves up the viability at 40% efficiency, where fluids recovery per 1000ft of horizontal doubles, so confirming the economic models are going to be achievable

This fracture can be considered the equivalent of a single stage in the 30 stage Alk2 horizontal, but will have the benefit of the enhanced design, made possible by the data generated from the Alk2 horizontal. To keep it real, it is a cheap bonus test of the new design, Tony Beilman is confident, but it not proven till the results come in

Further to these, the SMDB has better reservoir characteristics in porosity and permeability due to its lower burial depth/compaction and its delta distribution, rather than floor or slope accumulations

Transcription of an important section of the October 19th presentation, for those that prefer to read and digest slowly, rather than the faster pace of the live event

https://youtu.be/JJ7DvA8gK9s?t=368

If we look at how that then translates into our strategy, we have recently been very transparent about, what it is we're going to do ,and we're going to take it in a stepwise fashion with a target of demonstrating sustainable Market recognition of value of between $5 and $10 per barrel of recoverable resource

In order for us to get that recognition, we think we're going to need to have around 20,000 barrels a day of capacity, around

10,000 barrels a day of of straight run production , being delivered directly into the trans Alaska pipeline, and that is built around an initial development of 30 production Wells, 10 injection Wells from the pads alongside the Dalton highway. So around 40 Wells total gets us to that point

And of that we will seek to maximize the amount of equity, the amount of non-equity funding sorry, that we need in order to, avoid dilution to our

shareholders.

So as I said first goal ,get to financial self-sufficiency. That needs around 40 wells.

To get to first production requires three new wells, plus the use of the existing well as an injection well

And we estimate that'll be around $120 million, Kodiak will follow on as mentioned earlier, growing ultimately to around 200,000 barrels a day. That's what we'll be sizing our entry into the pipeline, to be able to handle at least.

When we look at funding , it may sound like a lot of money to raise $120 to $150 million, before you can be drawing down on reserve basis lending , but we're in discussions with vendors and off-takers and lenders in order to reduce that Equity component to the minimum possible. And our hope is to be able to bring that down, maybe to as low as $50 million of equity requirement.

And we will be over the course of of the coming months, will be announcing those arrangements as we progress them, which is really the main Next News uh along the way

It is a major fault within X as a media, the block feature allows total control of the narrative. If anyone successfully debates an issue, in other words they are correct, Jim blocks them, so taking the debate away from all others.

Oilman Jims blocked list would now comprise a whos who of informed oil investors, welcome to the club

Louis, cat, Jim

For the record, I am not Scot in any form, so what you just posted is a direct lie

What is the relationship with the three of you, I have asked cat33 so many times, he wont answer the question, or deny a relationship exists

Red, its not really up to you is it, others may be interested

Louis,cat,jim

You have no basis in fact to make this claim, you should label it for what it is, an uninformed ignorant opinion

Louis,cat,jim

You have no basis in fact to make this claim, you should label it for what it is, an uninformed opinion

Louis,cat,jim

I was referring to the flow tests of the BFF at Theta west and Talitha, but the SMDB test is also very encouraging, as a single stage vertical it looks good to the experts. Dont forget that is an oil only result, to which NGLs can be added, then convert to a 10,000 ft horizontal with around 50 to 60 stages.

Run the maths see what you get

Shorts BEWARE its coming

Expert opinion in understated RNS language

David Hobbs, Executive Chairman, said: "Congratulations to Jay and the operational team on a trouble-free operation that supports the economic case for developing our entire portfolio of resources. Gathering the last few data elements for our development planning allows us to move forward at full speed towards bringing Ahpun on stream in 2026 with Kodiak to follow. We estimate that we have surpassed the 40% frac efficiency upon which our development plan was predicated and will aim to achieve substantial further improvements during the early stages of development.

" that supports the economic case for developing our entire portfolio of resources.”

“allows us to move forward at full speed towards bringing Ahpun on stream in 2026 with Kodiak to follow”

“surpassed the 40% frac efficiency upon which our development plan was predicated”

Louis10

Of course it applies equally, the difference is PANR have the flow tests and supporting analysis, because they actually did the flow testing, all of which has integrated into the modelling. Subsequent to this they have stated "Gathering the last few data elements for our development planning allows us to move forward at full speed towards bringing Ahpun on stream in 2026 with Kodiak to follow."

This is more of a sows ear than a silk purse. The BFF is the bulk of the estimated prospective resource, and was at an estimate of 341 mmbo. Be clear this was an oil only estimate, including absolutely no NGLs or condensate.

NSAI are a highly regarded top tier assessor of resources, so can be trusted in their estimates. They have come up with a contingent estimate of only 28 mmbo. Spread this over the large acreage involved and the flow rate looks poor per well, that will feed directly into the economics of the field.

After including the NGLs it improves a little, but be aware NGLs vary in value depending on their composition and require additional capital to extract from the gas stream.

PANR have calculated a value of 80 to 90% on ANS crude price for NGLs in Alkaids case, with an overall value of 90% for their combined stream of oil, condensate and NGLs

Without a flow test of the BFF at Hickory, it will remain of questionable value, as the flow rate is a key factor in ultimate expected recovery from each well. The cost of drilling , completion, capital and operation must be substantially exceeded by the saleable liquids to be of any value to an investor. A low flow rate well will fail to reach this commercial bar

88e have indicated they are not going to flow test the BFF this season, which then means the well will no longer be available for this, as it will be plugged off in testing the upper zones. It make zero sense to forgo the flow test if the BFF is commercial

Louis, by your answer, the motive to deceive is confirmed, thank you.

We are all the wiser for this

So you were wrong about the tests used by NSAI, in estimating the contingent resource within Kodiak.

Was that a deliberate piece of disinformation, you posted to decieve, or just human error.

Best stick to your earlier confession,

You appear inaccurate on the NSAI billion barrels there, as informed people will know, there were two flow tests conducted on the Kodiak reservoir. One at Talitha, and the other at Theta West, these provided data for the NSAI assessment

For the record, will this fact correction result in a negative reaction from yourself