Member Info for Olderwiser

Skippy

To give some thing to compare with, PANR in their 5000 ft multi stage fracked flow test of the ALK 2 ZOI

After 30 days the flow rates were, sustained, stable, had peaked and were in decline.

Note the frack fluid recovery percentage is 40%, much less than the 70% 88e state in their RNS was likely to lead to an oil flow increase as more frack fluid returned

On this comparison 88e with 70% recovered frack water are fluffing it to infer oil flow is likely to improve, when PANR has the evidence that oil flow peaked well before 40%

Evidential quotes to validate the above

https://polaris.brighterir.com/public/pantheon_resources/news/rns/story/x8ezopx

 "Sustained daily production over more than the last 30 days has averaged over 500 barrels per day of hydrocarbon liquids, "

"Importantly, it is estimated that the well is still less than 40% of the way through cleanup phase, so potential exists for these rates to further improve".

https://polaris.brighterir.com/public/pantheon_resources/news/rns/story/ryed58w

"We are less than 40% through the recovery of the frack fluid (well cleanup)" 

Skippy

I dont know where to go next, they flowed 4 barrels, in the 16hrs they flowed oil, you are arguing this is not the key data

Once flow is sustainable, How much oil a well flows over time is the most meaningful data point in any flow test.

Peaks and troughs are just data noise, sustained average flow is what counts

Skippy

4 barrels is the actual flow collected over the 16 hours in which oil was flowing, you can extrapolate that out to 6bopd, it is still poor

Skippy you are arguing that, the purpose of the flow test, was not to produce a viable flow

88es favorite pump site next investors even put out their expectations, under 50 was the bear case, which makes 4 pretty sick

Skippy

The purpose of a flow test is to establish a sustainable flow, so the producibility can be known, so the viability can be calculated

Skippy

Thats a good example, when you look really hard, it actually means nothing

Mikee

I think you just worked it out,

For evil to flourish, good men need do nothing

Skippy

Entirely based in data, the 4 barrels from the SMDB and the 24.8 from the USFS, with 1.45mcft of gas

These are poor numbers, and even poorer for the brevity of the oil cut periods of 16 and 14 hours

The 70% frack water recovery means these flow tests are well into normalizing, the decisions to stop before achieving sustainable flow, answers every question an investor needs to know

Skippy, if thats what you think, then the spin worked.

Time will unravel it

Taxi

I will reword it as the meaning got lost somehow

Information and informed opinion is not your enemy, nor is it malicious intent

Mikee76

How much credibility does a company still have after the flow test RNS debacle

Fair point everyone should weigh the credibility of all the posters here, as I have always said, judge by the content, not the posters anonymous handle

Taxi

Information and informed opinion is not your enemy, or malicious intent

Consider what happens when investors trade on misinformation, such as the mega hype cycle of 2021

All the average investors get robbed, by a few sharks.

Think on what you and others might have done if FOMO created by misinformation had taken over, would you have averaged up like the agenda driven rampers were pushing

It may be better to sit here with less shares at a lower price, and weigh the options coldly

Poor and incomplete flow results, a company the polishes the turd to the extreme, with ~29b shares and a stated intent to consider a consolidation

IMO they will push hard for it, as it is illiquid on the ASX, where trade moves, at a SP of .003c for the average investor are

up 25% or down 33% to meet the market.

Handspringguy 00:03

I agree 88e are talking positive, as they always have, but on credibility

Who should you believe, the people that have been proven correct, and continued to stay on the facts, despite the abuse

Or

The people that printed fully funded, then raised capital at a 40% discount the next day, if memory serves correctly

Read very carefully

Commencing a formal farm-out process to attract a high-quality new partner to fund the next

stage of appraisal and development;

What does that mean, It means the next well is going to require a new partner, no new partner, no new well

88e are walking away from any more big spending on Phoenix, makes sense given the poor results, kick the can down the road, keep looking for a partner for a few years, keep hope alive

Optrade 10:12

I suspect you have mixed the distances up between Alkaid1 and 2

Hickory 1 is 9.3 miles from the closest PANR drilled well Talitha A, and at a guestimate from the maps around 16 miles from Alkaid 2

Sharebel

Now that is another bare faced lie, care to back it up with something other than your discredited opinion

They are the best protected of any, they have all of the inside knowledge and experience

Taxi

Sophs are a useful class of investor that can deliver a lightning fast result, within hours as just seen. 88e are able to capitalize on the immediate situation this way.

In theory SOPHs are able to look after themselves, and need less protection than retail, so can bypass much of the red tape a retail offer requires. Offers to SOPHS are very common in AUS, they often are happy to trade volume at a small margin, say the % between .003 and .004 that most of todays trades of 695m (ATM) have gone through at, as a VWAP of .00395 shows

Taxi

Rest assured the BOD of 88e would have been allowed to participate, they all chose not to

In evidence that this can be done, refer to the PANR capital raise that was similar in nature for the "initial" raise to institutions and others, note the quoted participation by all of the BOD

Do not be confused by the generous follow on offer to allow retail investors to also participate

https://polaris.brighterir.com/public/pantheon_resources/news/rns/story/xelj2yr

"All of our Board, as well as management and key advisers will be participating in the Fundraise as we are all excited about what is planned and the great potential of what we have discovered over the recent years."

Gemstar

Have you had an epiphany , raising red flag warnings for 88e holders, a bit late with most of the damage already in play

Better a late conscience, than none at all