The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
£1.49 would do me at the moment but I am still hopeful that if we get to £1.49 then something major should be happening and £2 plus is far more likely. Our South African friend seems to have moderated a bit - but Im not certain.
Cheers
Again with the greatest of respect, I suggest that you get out of this particular game and try something a little less stressful.
I just want to see PANR at £1.79 again but am happy enough, at this stage where we are
From todays RNS
"We continue to remain cautiously optimistic for the testing operations in the Kuparuk at Talitha, which is the deepest of five separate horizons and is therefore the first to test. Pre-test analysis has been extremely encouraging, however as always, we caution that we cannot make any definitive assessments until the conclusion of testing operations. All of the horizons encountered oil and offer multi hundred million barrel potential, if successful. As we have previously indicated, these zones combined have been estimated by management to potentially contain over a billion barrels of recoverable oil in a successful case in the Talitha structure, which is particularly exciting. We look forward to informing shareholders of the results of testing once available."
Strange - but this sounds quite promising again - yet we are 3.5% down - go figure that someone please. Perhaps the MM wanted a test result today and were disappointed that they didn't get it.
WH Ireland Pantheon Resources (PANR) – Corporate – Operational Update Market Cap £259m Share Price 37.4p Pantheon Resources has this morning announced that the better than expected well-logs from the Kuparuk formation warranted a change in plan for the testing of that formation, namely, from an open hole test to a more rigorous cased hole test (with a 4 ½ inch liner). However, due to equipment failures and technical issues, the formation started to become damaged in its current location and as such it was not possible to set the casing string (4 ½ inch liner). Accordingly, the company has made the decision to drill a new modestly angled sidetrack in the Kuparuk formation. It is estimated that the sidetrack will take 2-3 days to drill, some 650 feet through the Kuparuk formation, which should then allow a better testing operation. As a result of the cold weather in Alaska, the drilling season may be extended into early April. WHI View: The operational issues are one-off events related to surface-operational challenges, and are therefore of no significance in relation to the resource potential being tested. The issue relates to timing as the company intends to test the SMD, Basin Floor Fan and Kuparuk horizons before the arctic thaw. We remain structurally bullish on the opportunity represented by an investment in Pantheon Resources, while acknowledging this is a set-back that increases timing risks for the near-term testing of the Talitha #A well. We remain confident that the company will test critical horizons, with the question being as to whether they will have time to test them all as originally intended.
Thanks Brombard - it seems that the regulations are open to some interpretation - it certainly is not a matter being negotiated but is most certainly an impending development - but at what point does an impending development become a stone blind certainty if the testing becomes or is looking to be successful ?.
Might be a bit of stating the bl?????? obvious - but - if the BOD know that thus far the test is not showing anything any good - then that, surely should be notifiable as it would most certainly affect the SP. But on the other hand if it is "so far so good" then should that not - also be notifiable. Bit of a paradox - no - or - yes??
Quite right Dol03 there was no official notification of when we might expect news but I don't think any of the oilers here were expecting the 6th of April - in fact I don't think anyone was expecting the 6th of April. Mind you most of the LTH here will have long memories of a very disappointing communication history.
Dol03.Good morning - you are right - there was never any official indication of when we might hear something - but - I don't think any of the oilmen here or on ADVFN were expecting the 6th of April - and thus far we have not heard anything from any of them. Perhaps soon ??
If anyone on this board wants to see industry knowledge in spades - might I suggest they have a look on ADVFN at todays postings by Telemachus1. Absolute first rate reading - I even understood bits of it - nonetheless I am in awe of this amount of knowledge.
Shakespeare couldn't have written this any better - I don't understand much of it of course - but its a fascinating read - made to seem simple but still way way over my head - if anyone can put it such a way that even people like me can understand what it all means - I would be eternally grateful, ---
Testing underway but, of course, it depends what they mean by that statement. If we assume that they got to TD and finished logging during the weekend before the announcement - no need to put out a statement until just before markets opened - then they have had between 4 and 6 days.Although it would come as a surprise, they could have just done an open hole test of the Kuparuk zone (run pipe with an open hole packer (like a heavy duty inflatable rubber ring) to seal off the annulus from the productive formation. The downside of doing that is that it leaves the higher zones unprotected (exposed to mud) for longer and risks compromising them wrt to their subsequent tests. In this case, they could be ready to announce results imminently but this seems a stretch.More likely, I hope, they ran casing (or a liner) to the bottom of the well and cleaned it out. That could have been completed by now. The choice then is between perforating with the guns suspended below the test string and the pressure in the well being underbalanced when they fired the charges vs perforating with the guns on wireline through the test string of tubing (smaller guns) with the well overbalanced with a clear perforating fluid. In the first case, the flow is instantaneous - if it going to flow - and the well cleans up really well because you never put completion fluid into the perforations. In the second case, it is a little cheaper and you force fluid into the perforations so that you have to clean that out during the initial flow period and there can be some long term skin damage that prevents the well from flowing as much as it would have done. Either is an equally valid option with the latter being more likely on an exploration/appraisal well and the former on a production/injection well.If their statement means they have run the test string into the well and are perforating or even flowing, then we are due results during next week. If they mean that they are still running casing and cleaning it out then the end of next week seems more likely.There is no reason they would not test the entire interval that is expected to flow so, if there is 55ft of good reservoir, I would expect 55ft or more of perforations - perhaps even the entire Kuparuk pay zone - since they could run a production loggging tool (PLT) over the flowing interval to see which parts are contributing what proportion of the flow.I think the small interval in Alkaid was specific to the time available before the thaw and that the SMD is not one continuous zone but several sand bodies interbedded with shales...