The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
11.52 lool
still happening scot???
This isn't about getting caught this time as it's not a wild cat drill. The oil is there, we are flow testing it. Completely different ball game.
Debt funding via placement of shares will certainly not see this spike...
Yeah I just don't know how Mangrove are surviving... oh wait:
The Mangrove Partners Master Fund Ltd.United Kingdom
Summary for all available positions:
Earned 3.61 million on Pantheon Resources Plc (history)
Lost -0.06 million on Premier Oil Plc (history)
Earned 0.11 million on Tullow Oil Plc (history)
Earned 9.82 million on Ip Group Plc (history)
Earned 24.44 million on Circassia Group Plc (history)
Result is 0,00 million on Diversified Energy Company Plc (history)
Earned 10.25 million on Allied Minds Plc (history)
Result is 0,00 million on Vedanta Resources Plc (history)
Sum: 48.16 million GBP
Can the parent of the child who has accidentally accessed Goldwaters account and attempted to write a sentence please collect their child from their computer.
Full disclosure, I am very much invested in 88e and the share price going up.
Flow testing has not begun yet. It is due to commence very soon.
Testing 2 zones, each zone will take around 10 days. Follow the coming weeks.
For a board so morally correct on facts being posts, I'm extremely surprised sirmark's garbage comments don't get challenged.
Yet... I bet if he was saying the opposite (large sells coming, price going to drop) you would all be onto him like a hawk.
Just an observation for you morally correct fact hunters.... hmmmm!
We've discovered oil, not we are testing is for flow. Completely different to before. You have no idea what you are talking about Goldwater.
They haven't even started the flow test yet... so all this duster talk makes you look like a complete k**b.
12.23 They haven't started flow testing the well yet.... LOL
Nice try though sweetheart.
Interesting one for you:
PANR Net Asset position - June 2023 - $272m. Accounts for flow testing information gathered in asset valuation. Market cap currently £250m.
88e Net Asset position - June 2023 - $140m. No flow testing yet performed. About to happen now for the uninformed. Market cap currently £85m.
Hmmmm... so going by this, if PANRs market cap is 92% of NAs, then 88e should currently have a market cap of £128m, so it's currently undervalues.
PLUS..... they have a flow test about to occur... which usually sends the price through the roof upon positive results, which is seems are very likely to happen given the data 88e has received for FREE from PANR.
Interesting.
Interesting one for you:
PANR Net Asset position - June 2023 - $272m. Accounts for flow testing information gathered in asset valuation. Market cap currently £250m.
88e Net Asset position - June 2023 - $140m. No flow testing yet performed. About to happen now for the uninformed. Market cap currently £85m.
Hmmmm... so going by this, if PANRs market cap is 92% of NAs, then 88e should currently have a market cap of £128m, so it's currently undervalues.
PLUS..... they have a flow test about to occur... which usually sends the price through the roof upon positive results, which is seems are very likely to happen given the data 88e has received for FREE from PANR.
Interesting.
00.35 Agreed... debt, salaries, operational costs all have to be funded.
Cash - June 23 - $20.7m.
Cash - June 22 - $57.8m.
Over $35m cash drop period on period. Not much cash being self generated at all.
But I have a good idea, let's all post negatively on the 88e board and put our tunnel vision glasses on for PANR. Following Scot really seems to help, 130p down to 10p, and all that jazz!! Comical
Be careful all readers of Scot's content, isn't that right war boy
Intense news flow and excitement.
Next 6-8 weeks is the time frame now. GLA
I think the market cap will spike at £800mn (PANRs spiked much higher).
This is 3.4p per share.
It's an estimate, but when we drilled a few years ago, our market cap went over £1bn. This time we are actually flow testing for oil, not a wildcat drill.
I do not think the market cap will settle at such a level, note I say I think it will spike at this level.
10.55 Thanks. And if it's all so tight, are up dips and down dips very relevant to quality of oil sat there?
Thanks both, good to know Brom!
As far as I know, if there's pool of oil underground, being in the lower dip is much better.
If you was after as much water a possible, would you put your pump in the shallow end or deep end?
Idea? Let's extract before PANR, then all their oil in the updip will flow down into our lower dip as we extract. Woohoo
Plus, and god, only imagine, 88e discover there's a lot more than 371m barrels there... the price will be multiples higher.
See below my commentary on the events over at our exciting southern neighbour, 88E.
"Casino punters and those playing a game of financial pass the parcel - no need to read further, except to remember the adage: "Enjoy the party but dance close to the exit." This for for those traders or those who got caught in the famous Scot 130p to 10p trap.
For anyone with the slightest interest in the fundamentals, read on because it's fascinating and frightening in equal measure!
88E valuation.
1) Mkt cap at close today is £80.3m
2) Deduct value of Longhorn and Namibia (£8.7m) gives us £71.6m
3) Divide by Project Phoenix Best Estimate (P50) recoverable resources ***assuming complete success of both flow tests at Hickory-1 in the next few weeks*** which is 371.3mmbo => the current price of each barrel in the ground is 19.3p.
Pantheon Resources Valuation
1) Mkt cap at close today is £242.8m
2) Less about $17m of debt. £227.8m.
3) Divide by Best Estimate (P50) recoverable resources which is 2.415bbo => 9.4p per barrel in the ground.
I emphasise this, the market never lies, PANR is values lower based on the above because it is going to have to dilute so many shares to fund it's debt requirement, and people don't like it.
88e however, are investing in assets on the side that should be producing for years to come. PANR isn't adapting, it's getting stuck in the snow if you will.
The market doesn't stay wrong for long, and you can clearly see 88e is the more valuable choice based on the above.