Member Info for SeaHawk

Great interview, I am going to have to dig down the back of the sofa next time the wife is out and see if I can buy some more AXL shares. To good to miss out on.

Siggins the problem for PANR is not lack of oil they are swimming in the stuff. Finding another 600m is huge but when you already have 2Bn its a bit meaningless until you start selling oil. The news that an environmental study is now required (taking 3 years and not mentioned before) has pushed us back big time. There needs to be millions of $ spent before first oil so I expect investors are waiting. I have another small oiler on my books who is producing 5000BOPD and is digging a well a month, no debt and 13M in the bank but is only in the 25p range because it only has about 100M in reserves. Wish the two were combined lots of oil V actually producing.

Anyhow the big hope is the sale of gas, if that comes in the SP should stabilize, but even that is a long way off. AIM is all about the quick buck and people do not have the patience.

Complete idiot M1 you have no idea what you are talking about.

Seriously that’s the best you can do M1Rob, why bother to comment when you clearly have no clue. Best company on AIM, great board, self funding, almost a well per month’s and that’s before they bring on another rig. Most small exploration companies have to raise money constantly to pay for the wells, whilst this one does not need to. Yet you complain that the cash position is not growing, if they were to stop drilling for a couple of months they could grow the cash position but to what end? They are growing the company and the SP is growing nicely along the way.

It's certainly tiresome but not unexpected, if you make grand statements about sorting funding and then fail, announce that a new study is required (out of the blue) which will take 3 years to complete and whilst this is going on there is zero income, then the SP is going to be hit. There are few long term investors on AIM most are looking for the quick buck. I also don't think there will be much of a reaction to finding yet more oil this winter as we already have billions of barrels of the stuff. We need to get it out of the ground and sell it or the gas deal comes through for this too move up to its previous highs and beyond. Put it in your bottom draw and keep you fingers crossed for the gas deal. The potential is huge if it all comes together.

If you are looking to invest some money on AIM then this is by far the best run company I have come across in 7 years of investing. No need to dilute as they have income from previously drilled wells. They drill non stop, another 5 wells this year. Do your research but this is an excellent company.

Canaccord Genuity view

It's still early days, but the outlook for the horizontal drilling programme on the CN field in the Tapir licence (Arrow, 50%) in Colombia is positive, with production rates ahead of Arrow's and our expectations. The first two, of initially planned four but now expanded to six horizontal wells targeting the Ubaque reservoir in 2024, are now in production, and the company has provided a 30-day update for the first of those.

CNB HZ-1: Initial production (reported 19 June) gross 3,150 bopd with

Not happy with this, I was banging on about raising the money when we were at 30p which had we got on with it then, the hit would have been roughly half of what it is now. This has been a really silly 4 months or so in which management has been poor to say the least.

Alex this is not being walked down, people are thinking to themselves 'what the hell is going on', we have taken on extra staff, new offices etc yet there seems to be bugger all happening and certainly no income on the horizon. There maybe a drill this winter depending on finances does not drive investor sentiment which is required to keep the SP still, let alone move up. Lets face it we have zero income, large outgoings and not a lot happening for the next three years even if the gas pipeline gets the go ahead. Even Shell would take a big hit to their SP if they were in a similar position. We have a ton of oil but we need to get moving, minimum 2 drills a year even if we have to shut them in until the environment report is completed. Once the money is rolling in they can buy back those shares.

I am a long term investor here at PANR but we need some action soon otherwise the SP is going to slide a long way down. They should have raised money at 30p that would have allowed us to get on with drilling and proving up. With the amount of oil we have another 200m shares would make little difference. DH is clearly a clever bloke but I felt let down with his ‘I don’t think I promised financial clarity at the end of June’ maybe not promised but you led us to believe it. This company cannot afford to sit for the next 3 years whilst reports are completed, people just will not wait that long.

Really Stockraiser, 29 Billion shares out there and you cannot buy a single one. Hum.

Hi Rabito no I have no other knowledge, other than there must have been a reason for PANR to try a long term test on the horizontal that to all intents failed. I just believe that showing the world a well producing 2000bopd means a great deal more than a computer model. Lets face it you would be mad to invest quite possibly billions without first seeing a well producing and what the drop off was over time.

So what is up next? Last night was supposed to be the big announcement on future funding and it was a not. So we seem no further forward apart from a couple of companies confirming we have oil in the ground, I still don’t think that we have conclusively proved it will come out in the quantities required, which may be why the big companies have not come forward. Perhaps we need a well on a long term production test to really prove it all works. Anyhow something needs to happen this winter as we cannot just sit waiting on an environmental report for three years, especially as we seem to have taken on a load of extra staff. We will below 10p in a shot if we don’t drive this forward.

It was bad, a whole lot of waffle leaving me with no clear idea of what is going to happen in the short term. A three year pause whilst they complete a new environmental study with no income. They state they are not relying on the gas but they clearly are. They should have raised money when we were at 30p to keep the whole show on the road, they have missed that opportunity.

A whole lot of waffle so far.

Anyone else surprised that they are moving onto drilling a well for the disposal of water next when the current well is only producing 1% water. I would be getting another horizontal on the go and then see what the water cut is before deciding on a water injection well. But that's just me!

Just wish they would update a bit more often whilst drilling. Helps to keep the momentum up.

What a great company this is, totally under the radar at the moment. No debt, self funding from the oil it already produces eg no dilution. Proof that horizontals work should propel this company to new levels.

Fantastic news, drill baby drill!

Horizontal wells are very tricky unlike normal wells and as this is the first one for AXL in this field it may take longer than expected.

This whole endeavor is now so big that I wonder if one of the big players comes in and takes the whole lot off our hands. Even if they only gave us $3 a barrel for the oil that would give us roughly £3.50 per share. Gas to be added at a later date if the pipeline gets the go ahead. Now that really would stuff Mangrove, they really are playing with fire.