The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Troughsnout, as a reminder you are the troll. You are the one accusing management of being deceitful and indeed paying service companies to be deceitful as well .
There is likely a simple reason a commercial assessment was omitted from Kodiak. Management have previously highlighted that the reservoir poro/perm data was cut by NSAI to that witnessed in Theta West and therefore any commercial assessment would have been undertaken omitting the up dip portions of the reservoir. Therefore any commercial assessment at this time would have been inaccurate. Interestingly in recent interview Jay IMHO alluded that analogues have been identified which may remove this capping. As Pantheon have discussed in numerous webinars, any flow modelling has been undertaken utilising witnessed poro/perm data. That is recent type curves have been generated using that witnessed in Alkaid 2 vertical topsets/SMD test. Note Pantheon have latterly confirmed the permeability highlighted was the matrix permeability not the frac permeability which you wrongly called out in your blog.
In regards to Ahpun Pantheon have already confirmed SLB are undertaking a development plan for the Ahpun Topsets following concluding the development plan for the deeper Alkaid Zone. Interestingly I note you have already deemed Alkaid non commercial without undertaking any of the work you are asking to be carried out. Ahpun Topsets have a fuller set of data with I believe seven penetrations and one flow test in the 'feather edge' of the reservoir. Pantheon have full core data from the Pipeline State 1 well which is nearer the heart of the reservoir (another point which you were incorrect about in your blog). Therefore they have a fuller set of data which allows SLB to complete the Western Ahpun development plan. We will have to wait in see if the development plan utilises 'not inexpensive' nitrogen for long term gas lift requirements as you suggested in your piece, I suspect not . Pantheon has said they have been sharing all type curve analysis with those in the data room, I would hope the service companies don't adopt your approach of service companies telling you what ever they get paid to.
In regards to Ahpun east the work for this will be completed once they have undertaken an appraisal well. Standard depth of burial modelling supported by 3D seismic suggest that this reservoir is very similar to Willow. However it appears from your blog that you don't believe in the vast amount of evidence supporting reservoir quality getting better as you get shallower both in depth and DMax.
Note, you are not living rent free in my head. Typically bulletin boards work by someone posting comments and others replying and so on. I believe Shareguru22 uses this language as well, perhaps you share the same troll phrase book.
Troughsnout predicting a pivot to Helium whilst failing to acknowledge that to produce the Helium they need to produce the gas, and to produce the gas they need to produce the oil.
No wonder he doesn't hang about to defend this nonsense.
Troughsnout, your post is classic of the shorting genre. Claim there is massive placings coming up and support with your pseudo science blog updates. You seem to love the word fantasy, it appears right up there with 'heterolithic'.
Here's a few 'fantasies' for you:
Your oil career
Your technical knowledge
Your understanding of gas lift
Your awareness of the Pipeline State data and full core
Your understanding of the permeability calcs from the pressure bomb
Your understanding of the Geomark GOR analysis
Your modelling to disprove the claims you made about the type curves
I could go on but you have shown you are unwilling to defend your pseudo science when its been challenged.
Remember you are the troll.
I must admit I fail to understand the panic regards if we get something in the next few days or not. The board have guided to end of Q1 but there is no deadline which I have heard people talk off. If it slips a few days or even weeks it won't change my investing plans. I feel people are creating a rod for their own back.
The guy with the Pokémon geodude name is credited with the discovery of the field 88e are using as an analog (codell sandstone DB) in their presentations.
https://explorer.aapg.org/story/articleid/39052/raymonds-folly-the-codell-play-of-the-denver-basin
I have disagreed with him on a few things (mainly around 88e), but he has discovered one more oil field than I have and I respect his knowledge and experience.
Ah, the go to 'paid for reports' line. Moving past impugning Pantheon and extending it to the whole oil service industry. I have worked for an oil service company for ~20 years and I can tell your claims that if you pay a company money they will tell you what you want are for the birds. Of course the real people we should believe are ex fund managers who are shorting the stock, or current fund managers like Stahel with his fraudulent documents.
Quite frankly having read the factual inaccuracies in Peel Hunts previous coverage of Pantheon I hold them in as little regard as you. It astonishes me that guys like you think you can gloss over the science required to properly address or critique Pantheon's assets, just say heterogenous and heterolithic a few times that will do . I understand Peel Hunt's last piece was pulled from Bloomberg portal due to its factual inaccuracies. Give me SLB/Baker et al over them any day.
Your piece was dire, let's just shout it's tight and gassy. Let's ignore the GOR work from Geomark. Let's ignore all accepted theory regards depth of burial and its effects on poro/perm numbers. Christ David Hobbs was Chief Energy Strategist at IHS and Head of Research at KAPSARC (leading a team of 100 researchers i understand) and you classified these positions as him being a consultant. I note you still are tweeting about him after blocking him on Twitter, classy stuff. Exactly the same tactics as Stahel and Fraser Perry, what company you keep. If he was just a consultant what does that make you with your history degree I believe. No wonder you don't put your name to stuff.
The Halliburton piece has been covered numerous times, I think they held less than 10% of the old acreage, but here you are bringing it up repeatedly.
Of course you yet again failed to mention the company have full core from the Pipeline State well, nearer the heart of the SMD B reservoir, a point I have told you before and indeed the company reconfirmed recently. But you still think the data measured at Talitha, Alkaid 2 are anomalies.
On the questions selected by Hondris piece, you have to go as far back as January to find a live Q&A session. Yet here you are claiming this never happens. In reality it's you who limits those that can respond to your tweets etc, real brave man.
No signs of flaring on the 22nd
https://www.reddit.com/r/EEENF/s/RSnA2mu0s3
Ah Troughsnout, the ex fund manager who claims Pantheon have too much gas but will be reliant on buying 'not inexpensive' nitrogen for gas lift.
But who knows maybe his finger in the air flow rate predictions based on his zero years industry experience, minimal knowledge and minimal data will prove right and industry experts at SLB with decades of experience, masses of knowledge and all the data will be wrong.
Always amuses me when the finance guys have a go at the science. Can I get a 'heterolithic'!
Musk, it's funny how you are happy to use the PANR market cap as a benchmark but take great offence at people pointing out the differences between PANR and 88e. Pantheon have already flow tested more than ten fold the resources that 88e are testing this winter, perhaps you need to take that into consideration?
Classic Brevarthan research, 1 day after the interims are released he claims cash is just over $5M. From yesterday's RNS:
'Cash on hand 15 March 2024: $8.7 million'
Turns out its not SLB producing the 'fantasy' numbers after all, it's Brevarthan. He must have thought they have been buying 'expensive' nitrogen. Jesus wept.
Oh an you are the troll.
Tony, note that's not the last line of the RNS, there is further information in the body of the report.
'The Company intends to provide an update on its overall financing initiatives over the coming weeks. As previously disclosed, Pantheon is in discussions with vendors, offtakers and other parties about the potential to provide non equity finance the Company in order to progress its project development at minimal equity dilution to shareholders. As previously discussed, Pantheon estimates $120 million is required to get to first production, comprised of three wells conservatively at $20 million each, $20 million to upgrade facilities, $20 million for a hot-tap into TAPS and $20 million for three years G&A. Whilst some of these components will change higher or lower, for example G&A as the Company builds its team and incurs costs associated with a US listing, at a combined level the Company remains comfortable that $120 million remains a conservative and achievable estimate.
Heading into Q2 of 2024, Pantheon is proceeding with determination, doing the small but necessary steps to advance its exciting projects towards its stated objectives of FID, project development and value recognition. Management believe the project resource potential to be of a size and scale that is material by any global standard and are extremely pleased to have been able to strategically retain a 100% working interest in all of it. Management fully recognise that financing the development of such large developments is a key hurdle and are working diligently on that objective, recognising that once achieved, the pathway to commercialisation becomes clearer for all to see, and would be expected to see significant value recognition accrete to shareholders thereafter. The Board is determined in its efforts to achieve these goals.'
Tonynorstrom1, please see comments below regards financing from David Hobbs from today's RNS
'We're working relentlessly to optimise a funding platform for the Ahpun development and we look forward to providing the promised preliminary update over the coming weeks, with a goal of finalising our strategy by the end of Q2 2024.'
Spot on Munnietorx, the majority of Brevarthan's nonsense has been put to bed by Olderwiser and the latest info released by Pantheon in the recent tweet and website update.
It's astonishing a man with zero industry experience, minimal technical knowledge and with a minimal amount of the data can claim SLB, Lee Keeling & Associates et al are producing 'fantasy' flow rate and EUR numbers. He seems to think they may have overlooked things such as porosity, permeability and reservoir pressure when modelling flow rates and EURs.
He seems to want to use reservoir heterogeneity as the get out for everything. Ignoring Pantheon have multiple well penetrations in the SMD and full core from Pipeline state one, nearer to the heart of the SMD reservoir. Likewise he seems to want to ignore the Geomark recombined GOR data, the best and most accurate measure of GOR, as it doesn't suit his narrative.
I would be surprised and indeed concerned if he actually believed anything he wrote. Indeed I take encouragement that this is all he can muster. It's not quite Stahel's falsified document but it's not far off.
I think it's great news that Brevarthan Research (troughsnout) is on hear shouting placing, it's pretty much all the bears have left.
Brevarthan has previously written long and flawed pseudo technical notes which fall into the category David Hobbs would describe as 'very simple, very elegant and very incorrect'.
It's great he referenced the Geomark costs as it was this work which has shown his previous comments on the gas piece to be wrong. A shame he missed out the costs for the pressure bomb as the data it generated is what showed his comments regards porosity and permeability not improving in the SMD to be wrong as well.
SLB's modelling of our worst reservoir using measured data also blows his arguments regards commerciality out the water.
The NSAI report shows his 'resource inflation' argument is questionable also. I could go on.
Brevarthan much like OMJ, Josh Young, Stahel is another finance guy pretending he is an oil man but lacking the technical skill set to justify the claims he has made. So shouting placing now it is, progress indeed.
ASX flat and the US down. Clearly a UK based pump given increased messages here yesterday, even the US OTC crowd not buying it. They may yet though, time will tell
https://hotcopper.com.au/asx/88e/
https://www.marketwatch.com/investing/stock/eeenf