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It is an excellent result, with very big potential for PANR. Yes, like all discoveries, we have to wait for flow testing confirmation before the real value can be added.
Worth over 50p now imo........and a lot more once flow tests confirm.
Excellent summary from marto1000 on ADVFN.
marto1000 15 Feb '21 - 07:20 - 6452 of 6459
This is very exciting development for Pantheon and comments
• Discovering oil in five formations is as good as it gets – a huge result for Pantheon!
• Big testing program over many weeks to test four of these zones will be exciting.
• Talitha A is not positioned for optimal test on these zones – it was designed to intersect as many targets as possible and see which ones were oil bearing - this delivers the max resource number.
• The Talitha area is effectively five oilfields – each very large and sitting on top of each other - major development advantages.
• This oil is stratigraphically trapped on the migration pathway from south (underexplored) to north where the existing major oilfields ie Kuparuk, Prudhoe Bay, Alpine etc are located.
• Great Bear/Pantheon shot the seismic surveys to delineate the exploration potential which is why they have made these discoveries as seismic data is proprietary to them.
• The Talitha location is perfect for development, as it is not federal land and part of the petroleum infrastructure system, only miles from pipeline and highway - high NPV oil with min interference.
• The results in the Basin Floor Fans (BFF’s) and the Kuparuk are particularly exciting.
• BFF’s appear much bigger than had been expected, and this was the big play Pantheon were chasing but could not discuss the play because of the leasing strategy – it can now and as a result will attract considerable international interest.
• BFF’s are effectively Theta West and Pantheon now own all of it post recent strategic moves.
• The Kuparuk result is also much better than had been expected and is potentially very large. This is a huge regional producer to the north and looks like PANR have extended this to the south which has major exploration ramifications for the region. Alaska Govt will be happy!!
• Future drilling on both Kuparuk and BBF’s will be updip (low risk) with big upside.
• Resource potential – Jay says the results so far have met or exceeded expectations and has previously been stated - the company’s expectations were for a billion bbls of recoverable oil. Do the numbers!
• As always with mother nature, there are no certainties – these zones need to be tested and prove commerciality hence the company and investors should maintain a cautious view until this happens..but its all to play for - huge!
Basin Floor Fan is the big news........Theta West.......better than expected..........massive......100% owned..........enjoy the ride.
https://www.londonstockexchange.com/news-article/PANR/talitha-a-operations-update/14864275
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Target price increased to 2.5 pence
New 12th Feb 2021 Broker Update : https://gofile.io/d/3MyWfH
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Of course........ I mean.......there was so much interest that there was a farm out........oh....no there was not.
People were lining up to offer money at high prices to get in on the action.......oh.......no they did not.
BPC had to resort to all sorts of low level funding (like CLN) to scrape together enough money to drill a well.
Face the facts.............the Bahamas likely has NO COMMERCIAL OIL OFFSHORE !!!!!!!!!!!!!!
End of story.
You mean like the 5 previous drills in the Bahamas, where they had oil shows and nothing commercial.
Which led to the big boys dropping the licenses and walking away as they thought the Bahamas had no chance of commercial oil offshore.
Which allowed a tiddler company to get the licenses and promise the world for years (burning loads of money on salaries etc....)...............
Which resulted in no farm out.
Which resulted iin loads of dilution and........
Another failed well................ just the same as the previous 5.................
Mmmmmm
Feb 2021 Broker Note : https://gofile.io/d/T9mUQt
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Dec 2020 Broker Note : https://gofile.io/d/v5tMsp
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Where is he now ? Still posting about trillions of barrels of Bahamian oil ?
Had to reprocess this one.......got the depths wrong.....my bad
Gr 7a at Rosyton-1 around 9000 feet
Gr 7bc at Royston-1 around 1000 feet
TD around 11500 feet.
Will not be going into Kraken in the Cretaceous at this location as not ideal - this well is designed for the two Herrera sands Gr 7a and 7bc.
(for reference at Royston-1 top of the Cretaceous around 14,000 feet)
https://i.ibb.co/MVtc6Pw/yuiop.jpg
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Ramp ramp
Ramp ramp
Need to cut out the ramping and get serious on looking at the funding, looking at why CLN's were used, looking at will CLN be used ahead.......why were the CERP assets so cheap.........
Until then 0.5p fair value for BPC imo.
Just posted by PANR (Great Bear)......uploaded just now, but video taken on 22nd Jan.
Are they confident ?? dont think they would have posted the video if they had problems ??
https://www.youtube.com/watch?v=Xpv806HlsuM
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Gr 7a at Rosyton-1 around 2200 meters (7217 feet)
Gr 7bc at Royston-1 around 2600 meters (8530 feet)
TD planned about 10000 feet (will not be going into Kraken in the Cretaceous at this location as not ideal - this well is designed for the two Herrera sands Gr 7a and 7bc.
(for reference at Royston-1 top of the Cretaceous around 3700 meters (12139 feet))
https://i.ibb.co/MVtc6Pw/yuiop.jpg
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I think the next fund raise will be at 0.5p (might be less who knows)
It is my fair value target price in my opinion......as per my original post.
And Merlin is a 645 million barrels recoverable potential drill with a 37% GCOS.............. high risk/high reward..........pay to play and then pray !!
:)
And thats why I have got 88E
Offers a "risk free" way of playing the PANR Talitha well in the short term..............backed up by Merlin spud soon if Talitha is no good.
If Talitha is good..........expect 88E to rise strongly as well as potentially there is crossover into 88E license area.........
Rampy rampy pumpy pump.................
Funding is front and center on peoples minds - dilution - dilution - dilution - whats it going to be ?
Why now ????????
Simply as Talitha well results on PANR are due soon. A good Talitha result will rise the 88E share price. A bad Talitha result might knock 88E down.
Better raise the cash now and get it in the bank. It Talitha comes in good for PANR then it will create lots of buying of 88E and everyone is happy. If Talitha is no good, who cares........88E has the money in the bank and onwards to spud Merlin.
The fact they can raise money and pay for the well shows this is not a BPC scenario with loan notes and all that nonsense.
Testing is ongoing now.
Let me guess.....someone sold and now claiming testing is delayed ??????