Member Info for Scot126

HTTps://x.com/Scot126126/status/1986068770029449528?t=Xw6KjrS78tEtzKq4qFIEWg&s=19

Flare watch on Twitter. h/t olderwiser

19:58

Hi Gaztop49 - I have read multiple posts where you state words to the effect of your post this evening. "They will announce the rns when it suits the business, personally think it will come jointly when the US listing happens."

This viewpoint is absolute p0ppyc0ck. I strongly advise members of this forum to disregard this post and all the others written by Gaztop49 which support this ridiculous theory.

I can be utterly categoric about this for the following reasons:

(i) UK-listed companies are primarily governed by the UK Market Abuse Regulation (UK MAR) and the Financial Conduct Authority's (FCA) Disclosure Guidance and Transparency Rules (DTRs). The core rule is that companies must publicly disclose inside information that directly concerns them as soon as possible via an approved Regulatory Information Service (RNS).

In other words, PANR directors cannot "sit" on material news for tactical purposes, eg. to make a big splash by combining flow results from Dubhe-1 with an intetnion to list on a senior US exchange. If they do, the regulators and shareholders would be able to sue the BoD into penury.

There are very tightly defined exceptions to the above rule which permit the company to delay material announcements. Announcing the intention to list on another exchange or guiding on an IPO "landing date" would not qualify for any such exemption. No way.

(ii) Latest guidance appears to be indicating to shareholders not to expect a US IPO in Q4'25 and to instead view H1'26 as a more likely timetable. In order to give the US IPO as great a CoS as possible, it is self-evident potential US investors will wish to examine the IP30, 60, 90 numbers and expert analysis of the depletion rate of Dubhe-1 (and thus modelling of the commercial development of the SMD-B horizon/Ahpun) in order to make an informed investment decision. There's no way this data will be available until Q1'26 at the earliest => no US IPO in 2025. No chance.

Moving the US IPO timetable to H1'26 will also, hopefully!!!, allow PANR to ride on the coattails of a FEED decision on the proposed gasline => greater exposure for PANR amongst the US investor community => IPO priced at a higher level => less dilution for existing shareholders.

(iii) I've worked on at least 100 IPOs in my career, actually far more than 100. PANR has not yet filed any of the paperwork required to list in the US that I can uncover. The IPO market "shuts" after the first week in December and doesn't open again until mid January. In other words, the right people aren't all in their offices at the right time to execute a successful IPO.

Summary.

The company will release an RNS when they (and their NOMAD, Canaccord) assess they have material news to release to the market.

A US IPO will not happen until 2026.

So, Gaztop49, lol, maybe less time watching Wolf of Wall Street and Billions (TV series) and more time reading RNSs and listening to webinars?!

You should be able to click on the link below even if you're not on Twitter. *Potential* satellite image of a gas flare at Dubhe-1 on 28/10/25.

hTTps://x.com/Scot126126/status/1983698382154805274

Dear All - extremely confident-sounding Secretary Burgum comments on Alaska and the LNG project.

Listen from 24m 30s to 33m 30s.

Is he trailing new news on the LNG project during Trump's tour of Asia this week? Sounds like it to me?

hTTps://www.fdd.org/events/2025/10/24/powering-us-energy-dominance-with-secretary-of-the-interior-doug-burgum/

!!!!!!!

Secretary of Interior Bergum plus full Alaskan political team going live right now on Twitter Spaces. Trailing a big announcements and signing deals. I don't know any more than that.

19:08

The pied piper of 88E is at it again. Not content with his campaign of dissembling on the 88E forum for many years, he's now attempting the same thing on this forum.

Otto Energy sold their PANR shares many years ago. They used the funds generated from the sale to remediate one of their Gulf of Mexico assets. I know this to be true because I know the identity of the buyer of a large slice of Otto's PANR shares. The good news is that you don't have to believe me. Simply look up Otto's Reports and Accounts and you will see that Otto no longer details a shareholding in PANR.

I have tried to warn all members of the 88E and PANR forums on lse about Brom and his 28,000 posts. This most prolific of posters was by far the main disseminator on lse of the social media-inspired spikes of 88E in 2021 and 2022. The trouble was that he didn't tell his fellow forum members of his own decision to sell his shares into those spikes ***until many months later***.

Despite posting that "88E management are always very quick to reply to my communications" this most prolific of posters, somewhat spookily, refused to enquire about the rum goings on between 88E and ELKO, and the circular invoicing which saw insiders and employees make an absolute fortune (mid 7 figures, maybe 8 figures in scale) on the backs of innocent 88E shareholders.

Brom is not to be trusted. Ever. He accepts no responsibility whatsoever for the veracity of his published content. He does not care one jot about the welfare of others. He is solely interested in his own enrichment.

Brom - you are massively deluded if you think you're going to get away with spouting your self-interested drivel on this forum without a number of sophisticated and experienced investors challenging and dismantling your disinformation/misinformation campaign. This is not the 88E forum. Fact.

PS. I added to my holding about 5mins ago FWIW.

Https://www.businesswire.com/news/home/20250911812144/en/Glenfarne-POSCO-International-Announce-Agreement-to-Enter-Strategic-Alaska-LNG-Partnership-Including-LNG-Offtake-and-Steel-Supply

Fundraise? It is what it is. Let the traders do their wailing and gnashing of teeth. Investors have 3 de-risking events to assess and then re-price the equity's value.

1) Deal with JERA

2) Deal with POSCO including what looks to be an equity investment in Alaska LNG itself.

3) PANR raise $30m (with demand in excess of this figure) which will allow the LTPT of Dubhe-1 to go on for many months if enhanced data is thought to be beneficial.

Great stuff.

Oak Securities analyst, Brendan Long, out with quick reaction to RNS. Dated 8/9/25.

"Unequivocally Positive"

8 September 2025

Rec: High-Conviction BUY

NAV: Full-success case value: 417.4p Risked target price: 57.4p

Upside to full-success case: 1,344%

Upside to target price: 99%

Pantheon Resources has increased the scale of the Ahpun 2C recoverable liquids resource estimate (+63%; +228 mbbls) to reflect positive logging results from Dubhe-1 well. The company also announced that it has successfully completed drilling a one-mile horizontal lateral at Dubhe-1, 30% longer than the upper end of the range initially provided. We conservatively increase our fair value estimate to 57.4p (+12%, from 51.3p), leaving scope for the bulk of the latent value related to the news to be unlocked by forthcoming catalysts.

Significant Resource Upgrade at Ahpun: Due to positive Dubhe-1 well logs the company has increased the recoverable resource estimate for the main SMD-B horizon (+40 mbbls; 16.1p of success case value potential; 25% or 4.0p included in TP), provided a resource estimate for the SMD-C horizon (62 mbbls; 25.0p of success-case value potential; 10% or 2.5p included in TP) and the SFS horizon (126 mbbls; 40.6p of success-case value potential, which pending positive forthcoming communications to the market we would expect to partially include in our TP).

A one-mile lateral is a key achievement: Drilling a one-mile lateral (drilled in the SMD-B) will align the Dubhe-1 well with the standard length of an American shale oil well. That is critically positive because the forthcoming production test result will provide an eminently direct confirmation of commerciality, under a success case.

Show me: The successful pilot and lateral drilled at the Dubhe-1 sets the scene for the imminently forthcoming main event, specifically, the completion/fracking and production testing of the well. Production testing is intended to establish a production type curve upon which a commercial development of the Ahpun resource can be confirmed. The Ahpun SMD-B resource alone has a success case value estimate of 129.7p. Agreements are in place with key service providers for work to start imminently.

Momentum: In our view, the announcement is unambiguously positive and builds further on the company’s positive momentum. We expect further near-term share price appreciation. Pantheon Resources is currently trading at $0.21 per bbl of quantified 2C resources (liquids only); whereas, we believe that a $5-10 per barrel valuation is achievable by advancing the company’s projects closer to commercial production (premised on regional M&A metrics)."

- Operational de-risking = tick

- Reservoir characteristics from lateral logs consistent with pilot hole data = tick

- Big upgrades from SMD=B infill + the two other formations = tick

- Sounds like the potential two month wait until fracking/flowback operations commences (from previous RNS) has been shortened significantly = tick

All else being equal, the SP should move up nicely today.

07:22

You must be new to PANR, MetalMania1. Breaking down the marketable liquids into light crude and NGLs is EXACTLY how PANR always reports on its resource numbers. Crude + NGLs are accepted by TAPS and have been for decades. PANR's liquids are high API, 35 and above.

Bit more reading this for you today, MetalMania1, before posting further I'd have thought. Best.

Great stuff. Look forward to webinar tomorrow afternoon.

Hiya Brom - you clearly missed the question I posed about the capital expended by 88E management on the failed Project Longhorn strategy. For your convenience, I have copied the original post below. I appreciate you're keeping very busy over on the NN's forum these days. Tell you what's a tad odd though, and I'm not the only one to have observed this......you appear to be a great deal more inquisitive and curious about the risks associated with operating an E&P company in Alaska than you were ever prepared to express on this forum about 88E. I wonder why that might be?

I'd encourage any members of this forum who don't read Brom's content on the NN's forum to head over there and have a read of the content published by this most prolific of posters on lse (almost 28,000 posts!!!!!). Those who have only read Brom's posts on 88E will likely have to rub their eyes and look once again at Brom's content on the other forum. Would you believe that Brom actually fact checks folk on the NN's forum? He also responds to those who don't appear to recognise the operational and investment risk attached to the NN's investment case. I know, I know.....it's almost like someone else has taken over his username!!

Sadly, the content over on the other forum does appear to prove that Brom was acting as a manipulative puppetmaster on this forum for years and years. It also proves that those of us who warned forum members of Brom's duplicity in admitting to selling stock ***many months*** after the SP spikes of 2021/22 were spot on. Remember, Brom had been lse's most prominent, ahem, 'commentator' on 88E ("the company is always very quick to reply to my queries"), and who was delighted to fan the flames of the social media-driven campaign to promote 88E far beyond its fundamentals.

Perhaps he has acquired some integrity in the last few months? Who knows?

Anyhoo, please see the question below, Brom. Given your new approach to posting on lse, I'm confident you'll respond objectively in order to ensure your fellow forum members are fully informed. Good stuff.

"Hi Brom - Longhorn's production numbers v's management forecasts on 88E's acquisition heralded the first time in over 20,000 posts that you used your undoubted intellect to accurately call the company to account. Good for you.

In the same spirit, I'm sure the forum would be fascinated if you would highlight for them the total acquisition cost (including subsequent additions to 88E's working interest in Longhorn) *plus* 88E's share of the investment in workovers. Then deduct from that total the dividends received in 88E's period of ownership and the sale proceeds. Happy for you to use the gross sale figure for the purpose of this exercise.

What amount of shareholder funds, to the nearest US million dollars, do you calculate has been wasted by 88E's investment in Longhorn?

Many thanks in advance."

Senator Sullivan states momentum is growing in support of Alaska LNG project.

hTTps://radiokenai.com/sullivan-talks-alaska-lng-energy-future-in-sit-down-at-ksrm/

24/8/25 @ 17:00

Hi tinger - yep, Dubhe-1 is described by PANR as an appraisal well, although it does have elements of exploration within the vertical component of the drill.

A few years ago, I had cause to investigate some terminology used by the Alaskan regulators within the DNR. It turns out that applications to drill a well provide two possible options only for the applicant to tick. Either "exploration well" or "production well". It's nothing more sinister than that!

For equity investors, all else being equal the appraisal of the SMD-B at Dubhe-1 *should* prove to be a lower risk exercise than pretty much any other operation undertaken in Alaska by Pantheon (or Great Bear) since GB was founded in 2010. It goes without saying that the equity market is not currently valuing the Dubhe-1 lateral and flow test of the SMD-B as an appraisal operation but therein lies the opportunity for those who elect to invest prior to the results of the SMD-B flow test.

It also means that when/if PANR publishes an RNS confirming a successful flow test of the SMD-B, the SP *ought* to re-rate very quickly *and* very dramatically. Personal view is that PANR, on an SMD-B flow test success case, will be valued well in excess of $1bn once the the market digests such a scenario. SP *should* move to 3 figures pretty comfortably IMHO.

Hi Brom - Longhorn's production numbers v's forecasts on 88E's acquisition heralded the first time in over 20,000 posts that you used your undoubted intellect to accurately call the company to account. Good for you.

In the same spirit, I'm sure the forum would be fascinated if you would highlight for them the total acquisition cost (including subsequent additions to W.I.) plus 88E's share of the investment in workovers. Then deduct from that total the dividends received in 88E's period of ownership and the sale proceeds. Happy for you to use the gross sale figure for the purpose of this exercise.

What amount of shareholder funds , to the nearest US million dollars, do you calculate has been destroyed by 88E's investment in Longhorn?

Many thanks in advance.

Mangrove are a pretty small outfit as far as personnel goes. There's every chance they won't have an "overnight trader" monitoring and reacting to newsflow on their UK/European positions. Thus there's no guarantee Mangrove will be doing any buying for the next few hours.

Be sure to make them pay by reading and re-reading today's RNS!

Please see below a link to a Fact Sheet published by the White House summarising the US-Japan trade deal.

hTTps://www.whitehouse.gov/fact-sheets/2025/07/fact-sheet-president-donald-j-trump-secures-unprecedented-u-s-japan-strategic-trade-and-investment-agreement/

Energy:

- Major expansion of U.S. energy exports to Japan;

- The US and Japan are exploring a new offtake agreement for Alaskan liquefied natural gas (LNG).

22:34

Thank you for the link, chriscom. There should be articles *exactly like this one* in every Alaskan publication, O&G sector publication, infrastructure publication, US energy publication, US investment publication and the business pages of WaPo, NYT, LAT and the WSJ. Hell, just syndicate this article via an agency and that'll do the trick.

C'mon Pantheon management, MZ Group, BlytheRay and any shareholders with media/press contacts. This is precisely the coverage PANR should be ensuring is in the public's eye in the run up to Dubhe-1 and beyond.

*who's ;)

Senator Sullivan & Glenfarne pitch the Alaska LNG project to the US Dept of Defense, as trailed by Senator Sullivan and Governonr Dunleavy in recent months.

hTTps://alaskapublic.org/news/economy/energy/2025-07-03/sullivan-pitches-lng-pipeline-to-pentagon-leadership