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Hi Iseo395 - apart from my eastwards/westwards mix up (for which I apologise), kindly point to one factual error in my post timed at 14:47.

I'm not "desperate to talk this down". My interest lies in the shared assets in the Central Blocks (and northwards) and therefore comparative analysis is an essential tool for me to use. This is because I am a fundamental investor interested in facts and probabilities, not social media hype and disinformation. As for the motivations of others, you'll have to ask them directly but if the likes of olderwiser and rabito79 come back to you with *facts*, I'd urge you to debate with both guys because they know their stuff. If you don't wish to debate them on a public forum, no worries, but at the very least factcheck their analysis and contentions, investigate the corrections they're making to some of the outrageous claims being made on social media (including this site) and perhaps, in time, you'll see it as time well spent.

correction: .....or eastwards to the Central Blocks, etc, etc

BP sold all Alaskan assets to Hilcorp. Announced in 2019, completed in 2020.

There is no way on earth 88E will be bid for by anyone at this time, never mind by a (super)major. With the exception of Umiat, 88E does not have any contingent resources never mind reserves elsewhere in its Alaskan portfolio. Umiat hasn't produced 1 barrel of commercial oil in 70 years. I'd urge 88E shareholders to ponder why that might have been and to investigate the cost of installing pipeline infrastructure northwards to Willow or westwards to the Central Blocks/Theta West/Talitha. A trite reply would perhaps be, "That the acquirer's problem, 88E are just selling the leases." That may very well be the case but someone's got to pay for it ($10m per mile in Alaska, rough guidance) and on the presumption 88E won't, the acquirer will reduce the price paid per barrel in the ground accordingly. If the volume at Umiat (and maybe Peregrine if proven in future drilling seasons?) is too low volume and/or the geology make it a marginal call in terms of commerciality (capex + opex) then, with the information currently and publicly available, I simply cannot make a case for any corporate action involving Umiat/Peregrine for at least another two years, as per the appraisal guidance for Peregrine issued today.

I'd urge all UK and Aussie shareholders not to be "taken in" by the vast number of US social media posts if fundamentals and facts are your primary focus. If you're a trader and enjoy the peaks and troughs of sentiment and hype then knock yourself out and good luck to you.

"Pantheon is extremely proud for Talitha to have been included in the esteemed ‘Top 10 discovery wells’ list of 2021, globally, by the highly regarded IHS Markit.

The key paragraph is copied below together with the hyperlink to the summary article below that."

“Of the 38 High Impact Wells (HIWs) we identified at the start of the year*, there have been a total of 17 HIWs spudded over the first six months of 2021. Of the 17 wells spudded so far; 5 are in Frontier North America, 4 in Brazil, 3 in Mexico along with 1 in Bolivia and 1 in Suriname to round off Latin America, 2 of the wells are in Norway and 1 is in Turkey. Of the top 10 discoveries so far in 2021 4 have been discovered with HIWs; the Sakarya North discovery in Turkey, Urissane in Brazil (2020 spud), Talitha in the United States and the Shafag and Asiman discovery in Azerbaijan (2020 spud).”

hTTps://ihsmarkit.com/research-analysis/2021-high-impact-wells-midyear-update.html

Excellent news. Ought to add to the audience interest for the forthcoming webinar on 25/8/21.

FORD707 - check his history. 5 years and >3000 posts.

If you haven't already noticed, the UK and US bulletin boards for PANR are in stark relief to those of our southern neighbour.

Your admonishment, whilst politely delivered, is rejected outright. It's exactly that permissive attitude which has hundreds, perhaps thousands, of private shareholders thinking Conoco or Woodside is about to make a bid for our neighbour. And that's just one example of literally 10's of nonsensical conspiracy theories which proliferate there.

The misinformation, disinformation and fantastical dreams of posters on our southern neighbour's bulletin boards is what it is. Those types of posts won't go unchallenged on PANR's boards. No way.

BricksSA - I can't decide if you're an unethical ramper who thinks we're a bunch of mugs in the UK investment community or whether you earnestly believe the kindergarten school gobbledygook you posted at 19.00 today.

If it's the former, don't bother posting on PANR again please because we'll just laugh at you and we'll inform all other readers to ignore you because you're a professional troll, and not a particularly good one at that.

If it's the latter, please accept this non-stock specific suggestion. I am flat out telling you straight you do not possess the financial education or comprehension to be investing in single stocks. I'd suggest managed funds and lots of Introduction to Business, Introduction to the Stockmarket, Understanding Financial Statements 101 type books before even thinking about single stock investments.

I'm being serious. Make of this post what you will but please don't ignore it.

Hi FORD707 - I regularly read Katie's content along with the some of the other profiles you mention. I'm incredibly impressed by Katie's research and investigation skills and work rate, incredibly impressed. That said, she does not appear to possess the O&G sector or financial analysis skills to match her investigatory prowess. In my professional opinion (>25 years investment banking/broking) she collates most of the pertinent information but doesn't have the knowledge or experience to analyse and interpret the information into a cogent and rational investment case. If hard work and persistence were the only measures for investment success Katie would be a titan of Wall St! I'm simply cautioning any UK/Aussie readers of this post to be exceptionally wary of the vast, vast, vast majority of US-based Twitter/stocktwits/reddit commentators.

Rabito79 is quite right. Facts and fundamentals do indeed create value. What Dave Wall and Erik Opstad have done is to have created an excellent environment whereby speculation, whether entirely innocent or cynically derived, has led to trading profits well in excess of the company's fundamentals. And that's fine. It's the stockmarket and speculation is part and parcel of share price performance, has been for centuries.

But there's a world of difference between creating value and creating the environment to enable trading profits. On fundamentals alone, I repeat alone, as a former equity analyst I cannot justify mathematically 88E trading at anything more than approx 16% of its northern neighbour's market cap on any given day. Rabito79's modelling suggests that using the information currently and publicly available he thinks 88E ought to be valued *on fundamentals alone* at a quarter to a third of its northern neighbour. Contrarian8888, the ex-hedge fund portfolio manager in the US, when asked and using the same publicly available information cannot justify 88E's market cap being more than 10% of its northern neighbour at any given time.

Remember these valuations described above are about fundamentals and maths alone. Each commentator has used identical modelling techniques to analyse each company so there's complete consistency. None take into account the speculative whirlwind around 88E on social media because it's intangible, it's ethereal, it cannot be valued. That speculation can, however, allow traders to buy'n'sell and make profits. That, IMO, is the legacy Dave Wall has bequested 88E shareholders. See it for what it is (for now until factual evidence changes the investment case) but admit to yourself and others that this is not evidence of value creation but chiefly of speculative frenzy.

Correction

*not* a call on your values

"Sinking" .......words fail me.

Tradinginsouthafr - you could be nicest guy on the planet, a modern day Mother Theresa of Calcutta if you will, so this is call on your values, ok. You and the stockmarket do not belong together.

Totally up to you, of course, but please think, really think about the following. If your goal is to sell your shares at 65p, that's fine, no worries. Ask yourself this please. "Do my repeated non-value add posts, including such intellectually inappropriate words such as " crashing" and "Sinking" on a public forum make it (a) more likely or (b) less likely that I improve investor sentiment thus assisting the SP to reach my exit price?

I'll give you a hint. The answer is (b). QED - you cease posting your uninformed nonsense......people will stop having a go at you......and you'll be helping yourself attain that exit price = everyone happy.

If you do not follow the logic above then there is nothing anyone can do for you. Howzit and Up The Lions.

Hey tonynorstrom1 - let me give you a hand withthe whole your/you're thing.

Your = possessive
You're = contraction of "you are".

Tony, Tony, Tony......it was me (not you, read my posts again Tony, tsk, tsk, tsk) who posed the question on another thread, a thread where you have participated actively. I cannot mention the company by name otherwise some unkind types will report me for discussing two listed companies in the same post on one company's thread => the site will delete the post. Also, you have stated you are/were a shareholder in the second company. If you do not recognise the names of the three main assets then that's really quite troubling or you're telling fibs.

Just answer the question, Tony. Expressed as a percentage of the total, what value do you ascribe to Yukon v's Peregrine/Umiat v's Central Blocks?

All - please note Ddraig has ducked out entirely from answering the very reasonable and utterly standard equity analysis question I posed. FWIW I got the same response from him, Brom, JofHoggit et al on the southern neighbour's thread, i.e.. no response at all!!! Oh, and a final reposte for this awful human being. You, Ddraig, describe my posts as being offensive and openly derogatory. I think I supply facts you don't want to hear or see published but let's say you're right, I am offensive and adopt a derogatory tone. You, Ddraig, YOU suggested to someone with whom you disagreed on a stock go off an organise their own suicide. This website had to delete your despicable post. Shame on you.

FAO cheeseman, Dol03, Alaric, blingybird, comedy01, squirrel, Villa, nervousrex et al.

Please all note neither Ddraig nor tonynorstrom1 has come back with a fact-led answer to my question about our southern neighbour. To be clear, it's not a trick question....I would genuinely like to know the answer. I also would genuinely welcome an answer from either one of them, or both. I suspect Ddraig doesn't have the ability to answer the question. Tonynorstom1 likely does have the ability but he either hadn't done the work required, or he has but just doesn't wish to post his calculations.

The rationale for the question is that very shortly, and as trailed formally in an RNS by the ex-CEO of our southern neighbour, Dave Wall, they will be making the point that a portion of the SMD and/or SFS and/or Kuparuk extends downdip and southwards into their acreage in the Central Blocks. Don't get me wrong, I agree there is likely a degree of overlap.

So let's see what answer they come back with and we can do some fact-led, sector standard comparative analysis.

Perhaps a couple of you would care to repeat my question to these two fellas who clearly feel adamant their opinions are worth listening to on this thread? They may not wish to answer me but what about folk with whom they would have no reason to ignore?

cheeseman2 - so let me get this straight. You call out the abrasive and fact-led guy as obnoxious and the guy who suggested *on a public bulletin board* that someone with whom he disagreed (it wasn't me for the record) on whether to be positive/negative about a stock he owned should organise his own suicide....that guy doesn't merit a mention? Your values are not my values, cheeseman, and thank goodness for that.

16:03 Even if I got every single piece is of analysis wrong or researched the incorrect company thinking it was, in this case, PANR I would never in my whole life suggest someone go and commit suicide if I had a disagreement with them on an anonymous bulletin board. I can say that with absolute certainty, Ddraig/Mollaka. You cannot.

Judging my forward looking calls? You and all other readers of any of my posts are welcome to judge the content as they see fit. No worries whatsoever on that score. But let's not worry about future calls too much, Ddraig, shall we? Incredulously, you had to be corrected when you stated with your usual baseless self-confidence ('I know more about accountancy than all the accountants I've ever employed" lol, what a cracker!) that the Peregrine JV was over both Harrier *and* Merlin and not just Harrier as you argued. Hehehehe. It's for other readers to judge whether you should be making a public judgement about my future projections when you don't even know a fundamental fact such as a company's correct % share of an asset.

Now then, Ddraig and tonynorstorm1. I appear to have your attention this afternoon. Excellent. Our neighbour to the south....can you kindly give me a rough breakdown of the value of the assets of their three main projects by location, those being: Yukon, Peregrine/Umiat and the Central Blocks? Nothing too exact is requested, to the nearest 5% will do. Actually, I'll give you guys loads more wiggle room, make that to the nearest 10%. As an example only, something like Yukon 10%, Peregrine/Umiat 50%, Central Blocks 40%.....that format would be perfect. It'll be a dead easy task for both of you guys who like to deal in facts, make well-supported contentions, publish well-researched posts, etc, etc. I look forward, along with many others, to your answers. Thanks in advance, Ddraig and tonynorstrum1.

Ah tonynorstrum1 - gotcha, you are indeed equating a fact-led accurate approach with a guy who urged someone to commit suicide. So you are just being a total pr*ck. Brilliant.

Still having problems with your and you're, I see. Keep at it, Yule get there eventually! (J)

Correction.

*....suggestion to another human being to commit suicide...

Not that I'm aware of tonynorstrum1. Some of my posts have been deleted for mentioning two companies in the one post, despite the CEO of one of those companies claiming value from a shared asset in an RNS.

Tonynorstrum1 - Are you *really* equating a legitimate comparative analysis of a shared asset with a suggestion to another humbling to commit suicide or are you just being a pr*ck?

.......an there's a unique class of investor on lse who had a post deleted by the site for urging a fellow poster to organise his own suicide. That's for Ddraig on lse and known as Mollaka on ADVFN.

An awful, awful, awful human being. Eternal shame on him.

Hi Olderwiser - I followed your post timed today at 6:37am very easily as it showed such clear logical progression. If I may, I'd like to add another layer of potential upside at Alkaid?

Alkaid-1 was originally drilled in Q1 2015. Due to serious local flooding, the personnel (and equipment) were instructed to cease drilling activities and remove themselves immediately. There's the thing....drilling ceased *before TD* and, crucially, *before o/w contact was made*. According to Bob Rosenthal and eSeis, they believe the oil column below the bottom of Alkaid-1 could be the same size again as has been delineated above the emergency-related existing Alkaid-1 bottom of the hole.

Does that make sense to readers? Weather event in 2015, Alkaid-1 isn't able to reaching pre-drill Target Depth nor o/w contact, seismic interpretation suggests the oil column could be up *double* the length as the figure used by Lee Keeling to arrive at their contingent resource conclusion.

That's why simply by drilling Alkaid-2, there is a more than reasonable expectation that by drilling deeper to the original TD, Alkaid's contingent resource could effectively be doubled "at the stroke of a pen". Yes, it's a tad more technical than "a stroke of a pen" but you take my point?!

Hope that helps.

Sweet mother of God! Prepare your self for a surprise, lol.

Ddraig/Mollaka's post timed at 10:09 contains some pretty good content.....and some horrible stuff too, sadly.

1) Ddraig - you suggested someone commit suicide yesterday on the 88E thread yesterday and it was deleted by lse. I and many other posters have pointed out repeatedly your cruel and frankly unforgivable jibes about fellow posters' mental health. Do you not read the news? Do you have any concept of the pain you may be causing readers of your despicable utterings? Have you had a friend or family member commit suicide? You disgust me.

2) Objectively, Ddraig describes extremely well indeed the process of identifying all the moving parts on timing, subsequent wall of selling, reputation management etc, etc which have to be analysed and squared away prior to an equity raise for any company, particularly in small caps. I have an advantage in knowing the BoD and knowing the corp broker at Canaccord. These gentlemen are all well versed in such matters so, personally, I have no concerns on that front *IF* that is the chosen funding route. I believe a farm out is Plan A for the BoD although my personal preference is to self-fund for another drilling season. But the process was very well described by Ddraig in his post.

3) Ddraig knows fine well the rationale behind Farallon *maybe* ceasing/reducing its share sales and it relates directly to the 88E tax rebate news. I am able to confirm that a number of interested stakeholders are working hard to see if there any implications from the news delivered by 88E on Monday.

4) FWIW I do trust the PANR BoD. I trust their integrity and as an AIM Board they are as aligned financially with private shareholders as 99% of the companies with whom I've come into contact in my career. Does that make them infallible as humans? Of course not. But I trust their characters.