Member Info for sirmark

SEED Innovations Ltd Backs Pantheon Resources

https://www.tipranks.com/news/company-announcements/seed-innovations-ltd-backs-pantheon-resources

Yep MM's now on the 19p as well all continuingly moving up the offer

Plenty of large buy orders on the book this morning ... plenty of bidders ...someone want a large amount !

08:34 150,000 17.1

08:06 SCAP 60,000 17

09:22 349,995 17

07:50 150,000 16.8

07:54 200,000 16.6

I wouldn’t he just topped up before at 28p with a large stack I expect an RNS confirming a reduction in % BUT still RETAINING THE SAME AMOUNT OF SHARES. That’s my opinion we’ll soon see I guess !

Going well this morning so far, we was walked down from 45p so I suspect we’ll make our way back in quick succession as in a little over 8 weeks onwards we will be drilling what the company believes to be THE WORLDS MOST IMPACTFUL DRILL OF 2024 !!!! Anything sub 40p is a dream

This should be pretty much on the money now ...

They have essentially upped their price target by + £83,563,000

We had 960,919,00 shares they had a price target of 90p = £864,827,000

Now with 1,115,754,480 share with a price target of 85p = £948,391,000

It does look better though ...lol

Yes I agree error on my behalf ... will amend

Connacord new target is an extra £146,000,000.00 increase :)

They have essentially upped their price target by + £146,000,000

We had 944,218,427 shares they had a price target of 90p = £802,585,000

Now with 1,115,754,480 share with a price target of 85p = £948,391,000

Nice I was going to post the same :)

Yep everything's now ready for a big push back to the 40's IMO

Canaccord Genuity view

Pantheon has raised gross $29m through an equity raise to provide the funding for a high-profile exploration well, Megrez-1, which the company expects to drill in Q4 24, on the company's Ahpun Eastern Topsets (ETS) play. This is a high-impact and relatively low-risk exploration target, and success could open the best route to early development.

Crucially, Pantheon anticipates much better reservoir parameters at ETS than its other discoveries, and that may be the key to flow test rates that support commerciality without the need for long horizontal and multi-stage stimulated wells. If that is the case, then Ahpun ETS could become, in our view, the company's primary near-term focus - shallower and cheaper wells, drilled within easy reach of the Dalton Highway (DH) and the Trans Alaska Pipeline (TAP), with year round operations, and notably higher production flow rates that previous tests have implied.

Ahpun ETS play - what & when

Location: In the company's 100% held Alaska North Slope (ANS) licence, close to the Dalton highway (providing easy access to nearby services) and to the Trans Alaska Pipeline (TAP), which has plenty of spare export capacity.

Scale: Company estimated 600+ mmbbls hydrocarbon liquids recoverable prospective resources, with geological chance of success c.70%. The primary risk is likely to be hydrocarbon mix.

Timing: Vertical well to be drilled from all-weather gravel pad close to Dalton Highway. Pad construction - Sept/Oct; drilling - Nov/Dec; testing - success case, to start before YE24 (all timings to be confirmed).

Ahpun ETS play - what & when

Location: In the company's 100% held Alaska North Slope (ANS) licence, close to the Dalton highway (providing easy access to nearby services) and to the Trans Alaska Pipeline (TAP), which has plenty of spare export capacity.

Scale: Company estimated 600+ mmbbls hydrocarbon liquids recoverable prospective resources, with geological chance of success c.70%. The primary risk is likely to be hydrocarbon mix.

Timing: Vertical well to be drilled from all-weather gravel pad close to Dalton Highway. Pad construction - Sept/Oct; drilling - Nov/Dec; testing - success case, to start before YE24 (all timings to be confirmed).

ETS - key differentiators

Historic tests: Pantheon has tested a number of wells in different reservoirs with mixed results so far. All these tests have been in reservoirs with relatively poor quality (porosity c.10% - OK, permeability 5mD permeability; Fig.3). If so, then the chances of significantly higher test flow rates, without the need for stimulation, should be considerably improved. Pantheon has already drilled the Topset reservoir elsewhere, but outside of a trapping mechanism.

ETS analagous fields, further drilling?

Pantheon'

Some MM's now on 19p

17.72 55,001 JANM 13:05

18 60,000 SCAP 08:32

18.14 50,000 STFL 08:05

18.26 50,000 SING 08:04

18.4 50,000 PEEL 12:22

18.42 50,000 INV. 12:28

18.42 50,000 MREX 12:28

18.42 50,000 CANA 12:29

19 50,000 WINS 08:08

Last churn to clear the last of the 17p subscribers and this will pop ... and will seriously fly... and just for anyone watching ...what do you think the share-price is going to do if this flows like a river the share-price is going to be obscene !! and you'll be thanking your lucky stars you're in !

Exactly.... I think I'm just as excited and for those on the side-lines getting in at this price is astonishing so do take the oppertunity with both arms wallets trust funds etc

Interesting thanks for that

No need to wait till tomorrow for confirmation it's official allredy

https://view.officeapps.live.com/op/view.aspx?src=https%3A%2F%2Fwww.fca.org.uk%2Fpublication%2Fdata%2Fshort-positions-daily-update.xlsx&wdOrigin=BROWSELINK

The buy orders came of the book live I watched them then in triggered an auction... they were not from a previous session !

I just added

11:20:18 15.275 104,662 15.99k O

Will get some more shortly, just awaiting a trade to clear ... decent buy orders on the book 300k 150k etc

Read well imo

They was only giving £2mln for the Rtl so will be interesting to see how many get scaled back as it was and is cheap as chips

30p is insane so buy as many as you can imo up to 40-50p

This must now be the best oppertunity for Mangrove to finally clear off ! We're FULLY, let me say that again FULLY funded for not just the drill but LONG TERM TESTING as well !!

The Company will use the funds raised for drilling of Megrez-1 well and working capital and any additional funds will be applied towards extended flow testing at Megrez-1 (in a success case), further development of the Company's asset portfolio and general corporate purposes.

Pantheon Resources plc

Proposed Placing and Subscription to raise a minimum of $18.5 million

Pantheon Resources plc ("Pantheon" or the "Company"), the oil and gas company with a 100% working interest in the Kodiak and Ahpun projects located in close proximity to pipeline and transportation infrastructure on Alaska's North Slope, is pleased to announce that it intends to raise a minimum of $18.5 million by way of a placing and conditional subscriptions (together the "Fundraise") of new Ordinary Shares at a price of 17 pence per share (the "Issue Price").

The purpose of the Fundraise is principally to fund the drilling of the Megrez-1 well located in the Ahpun Eastern Topset area, and, together with existing cash resources, to cover lease rentals, development of the Company's asset portfolio and provide general working capital for the Group.

Institutional investors will participate by way of a placing of new Ordinary Shares (the "Placing Shares") conducted through an accelerated bookbuild (the "Bookbuild") which will be launched immediately following this Announcement (the "Placing"). Canaccord Genuity Limited ("Canaccord") and Zeus Capital Limited ("Zeus Capital") are acting as joint bookrunners in connection with the Placing (the "Joint Bookrunners" and each a "Bookrunner"). The Placing is not being underwritten.

Certain investors will also be subscribing for new Ordinary Shares (the "Subscription Shares") at the Issue Price directly with the Company (the "Subscription"). The Subscription is conditional on completion of the Placing.

In addition to the Placing and the Subscription, retail investors will be given an opportunity to participate by subscribing for new Ordinary Shares (the "Retail Offer Shares") at the Issue Price (the "Retail Offer") on the PrimaryBid platform. A separate announcement will be made shortly regarding the Retail Offer and its terms. The Placing and Subscription are not conditional upon the Retail Offer. The Retail Offer will close on completion of the Bookbuild process.

The holder of the Convertible Bond has indicated its intention to participate in the Placing for $4 million, subject to a minimum of $18.5 million (inclusive of this amount) being raised in the Fundraise. Additionally, and subject to the same condition, the Company has agreed to prepay at the time of the Placing the final two principal amortisation payments under the Convertible Bond of $2.45 million each, originally falling due in September and December 2026, by way of issuing 22,380,254 new Ordinary Shares at the Issue Price (at a £:$ rate of 1.2879).

The Company considers it important to be able to take advantage of investor demand should investors wish to participate in the Fundraise in excess of $18.5 million. In such an event, therefore, the Company will likely increase the amount proposed to be raised pursuant to the Fundraise. Any additional proceeds above the minimum of $18.5 millio