George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
As many, if not most of the posters on here are long term supporters of PANR and as we all expect the SP to grow, surely when the inevitable happens Louis 10 and all of his "supporters" will disappear into the ether never to be heard of again. It will come, sooner or later, so IMHO the best course of action would be to let them ramble against all the available evidence. Ignore them as you would a wasp or an annoying neighbour. Eventually they will be gone.
True Blackadder - some have been waiting a long long time - me? since 2015 - it has always been "jam tomorrow" -
my fault - could have got out at £1.80 when it seemed to be a no brainer to hold and wait for £6 £7 or even £8
Hi Scot126 - RKHChippy here - lol - just read through your 19.42 post - as I am just about all out of valium after the last couple of days- could you hazard a guess as to the short and medium term future here if BR is so "disappointed " with the markets reaction to his "encouraging" even high confidence level.
This was posted by Scott on the 8th on another place and I have only just caught up with it -Hope you don't mind Scott
I've read a disappointingly large number of dreadfully ill-informed commentary following today's RNS, especially as it pertains to the differential between PANR's OIP figure of >23bbo and Schlumberger's 17.8bbo.
The RNS spells out the primary reason for the differential: "Schlumberger's OIP estimates for Theta West were constrained to the project's 3D footprint with more conservative reservoir parameters than Pantheon's at the lease boundaries. With additional drilling data points, potential exists for Schlumberger's modelling estimates to increase in the future."
On a higher level, it is uneventfully mundane and utterly bog-standard for external experts in the O&G industry to publish reports which come in with headline figures below internal company calculations. An excellent example of this was the first Lee Keeling & Assoc IER of January '20. Examining the Alkaid anomaly (currently producing an impressive flare at the Alkaid-2 pad) the Lee Keeling IER classified a 76.5mmbo contingent resource v's PANR's estimate of "900 million barrels of oil in place, and a P50 Technically Recoverable Resource estimated at 90-135mmbo."
I was able to have a brief chat with management today and they are absolutely delighted with the Schlumberger analysis and genuinely puzzled that some market commentators are focussing on the differential in OIP v's the *fact* that the largest oil services firm is confirming 17.8bbo OIP on PANR's Alaskan acreage.
I'd urge those who have been affected by such commentary to re-read the RNS and have a good think!
This was posted by Forwood on the other place yesterday quoting one of the best in the business.Telemachus — Today at 3:47 PMThe activity is that they are flowing a well (successfully) as it cleans up and the outcome is highly likely to exceed the commercial threshold notwithstanding that some soi-disant experts claim to the contrary. For the record, the PANR BoD is not buttering investors up for bad news. They announced the SLB report because it was material news and, given that the videos etc were out there, would have been obliged to provide at least a minimum level of update on the well status. I am sure they would rather have waited to release everything together but the Nomad is their regulator.
New Proactive interview
Https://youtu.be/1sUjszlKUL0
I have read every post by the oil experts for whom I have the greatest respect. I have also read the conclusions that have been posted regarding the 3D seismic data and geophysical data. All the information that we can gather indicates that we are sitting on a relative "gold mine". I have not sold 1 share since before the Texas "we've cracked the code" days and I will not do so until either I am happy with the outcome here or I will be receiving a letter from my wife solicitors. She is not as patient as I am. With all of this positive information - I remain puzzled (not worried) as to why the SP shows no sign of the optimism that is being shown in the data.
Perhaps its due to a "no news is bad news" attitude that is being shown elsewhere.
How many minutes to the next RNS ???
Response from Telemachus
Looks like point heat source but wrong location for flare mat (per the layout submitted to the SoA if not amended). But overall heat signature suggests hot fluids at site of testing equipment so time to watch closely…????
I remain confident despite recent “expert commentary”
Thanks for pointing that out Jazbo - yet another senior moment - and you were quite right. I should have "said" Scot 126 in an effort not to be claiming Scots post - and a huge apology to the man himself for whom I have the greatest respect.
A big SORRY Scot126.
Continued
“The Lee Keeling contingent resources report [of 76.5mmbo contingent resource] relied only on the data from the 240ft section we drilled at Alkaid-1. We have never previously guided a resource estimation for the Alkaid Deep section. There’s a real shot at a resource upgrade to the whole Alkaid section. So ***there’s a resource upgrade there and another associated with the SMD*** because of what we’ve seen in Alkaid-2, plus we can connect it over to other wells that are east of the river. So, very exciting.”
JC: “….we have more than 20 billion barrels of Oil in Place (OIP) ***and these results are going to add to that figure***. But the real key thing….for PANR is drilling the horizontal, putting it on a LTPT and proving commerciality. We know we have a huge resource there and just small percentage additions to that [OIP] is literally hundreds of millions of barrels….but until we prove the commerciality which is our next step, and we’re in the process of drilling the horizontal portion of the well right now, that’s the real key for us.”
Q: “You’ve said this marks the transition from explorer to producer. Where do you see yourselves going beyond this phase of drilling the horizontal?”
JC: “We’ve stated publicly we expect to get 150 bopd per 1000ft of horizontal for Initial Production. Eg. if we drill a 3000ft lateral, that’s 450bopd. If we drill a 5000ft lateral, that’s 750bopd. ***Those are commercial rates***. That opens up just so many more [possibilities].”
“We’ve extended the SMD east of the DH. So we have a DH corridor where we can place gravel in the old disturbed area from when TAPS was built ***and literally develop hundreds of millions of barrels from the DH***. ***No-one else in Alaska can do that***.”
“And then out further to the west in our huge Theta West discovery which we’ve stated has 17 billion barrels of OIP, [which] has potential to grow, we can move from the east to the west ***with literally thousands and thousands of wells***. ***This is potentially massive in terms of recoveries, number of wells, peak production***….all of the things which will help [US] energy independence, less dependence on regimes which can shut off O&G at any time. And also we’re in the US with its stable government.”
BR: “I can only tell you that ***this well could be transformative for Alaska***. That’s the simple statement. If we get this well commercial, it’s transformative for Alaska. Right at the moment they’re betting on developments that are going to come on in 2030. So this could be immediate and transformative for the state of Alaska."