Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
And goes on to add:
“…the assets Pantheon is sitting on could be huge if the estimates are accurate…... It’s hard to predict what the return for shares could be if the bull case plays out, but I plan to be along for the ride.”
And Malcy appears happy with us too:
"This is another exceptional performance by PetroTal under the circumstances of the Amazon river levels in Brazil during October which it is already making up for. The conference call is scheduled for this afternoon so I will comment further on the company tomorrow morning if necessary.
In the meantime the initial markdown in the shares which is short sighted in the extreme and one that offers an excellent buying opportunity should be reversed when the sheer value, size and margins of the business become apparent. My TP of 150p will not be changing on this announcement. "
https://www.malcysblog.com/2022/11/flash-blog-petrotal-jadestone/
Look at that Diluted Net Income per share for the last 9 mths: US$0.18
So pro rata for 12mths – that’s 24cents
And [at £1=US$1.19] that’s 20p/share
So, why’s the share price at just 45p?
Crazy or what??
From Jan2022 webinar presentation at 58m 28s their modelling shows an expected 100 to 150bopd per 1000ft of horizontal well, so for our Alkaid#2 ~5000ft horizontal they’re apparently looking for 500 to 750bopd
Now, in the 25Oct22 RNS they said:
“Alkaid #2 has produced initial fluid flow with rates in the thousands of barrels per day,”
So, multiple thousands – to me, meaning at least 2000 [but obviously, could be more]
They also say:
“The operations to date have recovered approximately 10% of the frac fluid used, with oil cuts averaging from 8% to 12%.”
So, 8% to 12% oil in the total flowback fluid rate of at least 2000barrels per day,
that’s 160 to 240bopd as a minimum [ since 2000 barrels is the minimum interpretation of thousands of barrels] – let's call it 200bopd as an overall average.
And that 200bopd is at and oil cut of just 10% ie just 10% cleaned up.
So, proportionately, at 20% oil cut our 200bopd should become 400bopd
And proportionately as clean up reaches just 25% to 37.5% oil cut, it should give the looked for 500bopd to 750bopd from a 5000ft horizontal.
On this basis of calculation:
50% oil cut should produce 1000bopd and 75% oil cut some 1500bopd – all based on the: “thousands of barrels per day” of flowback fluid, as meaning 2000 barrels a day. [ if it means 3000 barrels a day – well, I’m sure you can do the recalculations.
If we also take in account the increasing oil relative permeability as the oil cut percentage rises - and basically there is less water for the oil to jostle with and be obstructed by as it heads through the rock pores and fractures into the well bore – these bopd figures should receive an increase from that effect, too.
Just got to get that frack sand shifted and Flowback under way – not long now.
All IMHO. DYOR.
For those not in the know, a YouTube walkabout ‘show and tell’ of the temporary items of kit, at a wellhead, associated with the Flowback and the Clean up of fracking sand. And then the pieces of permanent kit, along side, ready to take over when the well is clean and it goes into production.
https://www.youtube.com/watch?v=F1IVAu6t05U
And blocks 478B &D fall on the Dalton Highway between Alkaid and Talitha so helping present more year-round access to both.
In fact, I guess, they might even be thinking to use this location for a major pad off the highway to drill horizontals north into the Alkaid reservoirs and South, SW & W into the Talitha ones. All year-round access is a huge positive.
09:49
A lengthy sequence of tweets from Scot126
https://twitter.com/Scot126126/status/1592327058998571008
Just stumbled across this from back in August:
https://www.bnamericas.com/en/news/petrotal-rules-out-risk-of-windfall-tax-in-peru
Some interesting comments and diagrams, re the additional acreage, by u/Ok-GeodesRock49 on Reddit:
https://www.reddit.com/r/PantheonResourcesPANR/comments/yrrqhn/pantheon_resources_plc_north_acreage_addition_to/
10:54
Take a listen to Michael Duncan at 4mins in:
https://www.youtube.com/watch?v=1sUjszlKUL0&t=240s
So, they had ~153,000 acres and have added ~40,000 more.
That’s now ~193k acres which works out, it would appear, at ~301.5 sq miles
And that is equivalent to a square of land some 17.36 x 17.36 miles!!
Though, I do find visualization of a strip 1 mile wide and 301.5miles long easier on the brain cells.
That’s because, I guess that would be like a 1 mile wide strip, almost all the way from London to Edinburgh!!
[London – Edinburgh is about 332miles, as the crow flies]
https://dog.dnr.alaska.gov/Services/BIFAndLeaseSale
select: Current Leased Sales> North Slope Areawide Sale 2022W > Received Bids
This downloads a spreadsheet with the details
Then select: Current Leased Sales > North Slope Areawide Sale 2022W > Results Map
to view the location of the blocks.
Bidding results available to the public online at
https://dog.dnr.alaska.gov
– Wednesday, November 9, 2022, at 9:00 a.m.
Alaska appears to be some 9 hours behind the UK – so that puts results at 18:00hrs UK time.
Those blocks look to be in 3 places around Alkaid.
Wouldn't have thought likely, at those locations, to make commercial sense to be anyone but Pantheon picking them up.
And if it is Pantheon, what does that say about Pantheon's confidence in the Alkaid area.
Posted on Reddit
https://www.reddit.com/r/PantheonResourcesPANR/comments/yo8b1f/what_are_the_most_effective_hydraulic_fracturing/
Of particular interest, I thought, was the bringing together of the FMI tool logs from Alkaid#1 and the vertical fractures seen there and then how we ended up with a large amount of propant returned from Alkaid#2 - maybe coming back from such vertical fractures - and what this might mean for the reservoir's overall permiability - and hence the flow rate - of the Alkaid#2 well.
The interesting section (on Reddit it's with associated slide):
In the Alkaid #1, Vertical Open Fractures are indicated by the dark lines as logged by the FMI (Formation Micro Imaging) tool. The interval shown was tested in the Alkaid #1 and represents the interval completed in the Alkaid #2. Such fractures offer 100% porosity and Darcie's of permeability, and seldom retain sand sized frac propant.
... several tons per sq inch and sizes used range from 0.1mm to over 2mm diameter....
Interesting article:
https://geology.com/articles/frac-sand/
...have the majority of the fracking water back out of the well in a 2 to 3 week period.
Listen from 4mins 19secs in.
https://www.youtube.com/watch?v=1sUjszlKUL0#t=4m19s
And CEO: Jay, talking about the coil tubing unit, which is expected very soon, to clean out the Flowback sand.
Listen from 4mins 45secs.
https://www.youtube.com/watch?v=1sUjszlKUL0#t=4m45s
So, shouldn't be long before we find out what this 'sweet spot' in the Alkaid reservoir can deliver at Alkaid#2.
And as Jay says, Alkaid#2 results showed better porosity and permiability and thickness:
Listen from 1min 37secs.
https://www.youtube.com/watch?v=CRpoZ_7Y1zY&t=97s
said Bob, earlier in the year.
And that he thought the optimum Farm-in time would really be when they start getting the production test results – and that would be some time in the fall.
Listen at 10m 15s in:
https://www.youtube.com/watch?v=vLJbrJU7F3E#t=10m15s
On Reddit, telemachus has posted his thoughts on the RNS:
https://www.reddit.com/r/PantheonResourcesPANR/comments/ycy4nz/excellent_rns_from_pantheon/