Member Info for taximan57

David I thought that only mattered if you made money?

Just received this regarding another company I have an early investment in, Dream Corporation (also known as Otherworld)

Please be advised that we were informed by the Company that shareholder written resolutions (“Written Resolutions”) which have provided the Company with shareholder approval to sub-divide the nominal (par) value of its existing shares from £0.001 each to £0.000001 each. Please note that this does not affect the market value of the shares and is a technical procedure; it simply means that you will hold 1000 more shares for each 1 share previously held (but each share has been assigned a lower par value).

The opposite of what I expect 88E will be doing after the AGM

I little piece of info found on the internet;

Reduced Ice Road Areas: The study, based on satellite data from 1979 to 2017, reveals that significant areas that were once suitable for ice-road construction have shifted to being unsuitable. Across the Arctic, ice road seasons are getting shorter, and the areas suitable for traveling on ice roads are getting smaller.

Alaska-Specific Changes: In Alaska, the most significant changes occur in December and April. However, even during the prime winter months of January, February, and March, there have been losses of suitable ice road conditions.

Shrinking Potential Ice Roads: The study demonstrates that potential ice roads have shrunk significantly over the past few decades. Factors such as later onset and earlier end to cold conditions contribute to a decreasing potential ice road construction time window in the Pan-Arctic.

Commercially, ice roads are crucial on the North Slope, where oil companies use them to access exploration and development sites. These roads help prevent damage to the tundra and permafrost during winter exploration activities. However, as ice road areas diminish, it becomes more challenging to maintain these critical transportation routes.

Lets hope we finish before the ice melts.

This time last year it was above 0.50p and even allowing for the dilution if the Flow test is positive it has to be higher than that.

Good luck Mystic, I paid 1.16p in June 21, 2.46p in Feb 22, 0.71p in Jan 23 and 0.24p in Feb this year, now avg 0.69p. It looks like I have been holding since 2019 but not sure what I paid back then.

He wants a car Musk :)

Read the updates bchm, they clearly say they will release after the first test.

OlderWiser, I stand corrected, as you explain I understand the logic, thank you. I wont go back and listen again as it will just confuse me again ;)

Musk, I find Scot posts interesting and with a hint of truth, informative but one sided, what I don't understand is why? Why does he post so often and at great length if he has nothing invested in 88E? I understand the logic of what he says regarding value per barrel but again no use on here unless he thinks he is a patron saint of new investors. For LTH like myself his insight is too late even if it were true.

I doubt the reply he gave regarding myself and north/south boundaries as listening again JC talks about stopping at the North end of his acreage but 88Eis at the South end of his acreage. This would not extend the payload for PANR, just confirm the existing figures. Unless I really am going senile ;(

I must be going senile OlderWiser as I thought PANR was North of 88E, and he said 88E was about 160mtrs from the PANR south borderline. It would be the North end of 88E acreage but South end of PANR. JC said they stopped gathering info on the North end of their reservoir as it reduced in size.

Is that not back to front OlderWiser? He said that 88E was to the South not North. He did say they cut off the North but not in relation to 88E.

I'm for deeper reservoir and deeper down, if you look at the diagram on 27th Feb announcement it clearly shows the reservoirs sloping down but getting vertically larger.

"anything that's positive for them is positive for us", straight from PANR.

For those that said otherwise ......

Musk, I think PANR are there to help confirm their own figures. If 88E has a successful test then it will reflect well on PANR. I'm sure they don't need reassurance but every little helps when you are looking for a farm in/out partner.

Don't mind sharing that if all goes well with 88E, with my avg 0.69, I will be looking at Lloyds and a speculative punt with CEG (Challenger Energy), another AIM share.

BigBear, Icewine west didn't flow you said but 88E were looking much deeper and missed the opportunity and reservoir in error. So who knows what might have happened had they noticed then. Personally I think the fact that they moved further east before 'discovering' is probably a good thing.

Thank you dai, so anything from 42bopd is acceptable for PANR.

I thought we were looking for 100+ so this target would be good news if reached.

Interesting read from the internet

A horizontal drill provides the wellbore with exposure to thousands of feet of the additional reservoir rock. In areas with low permeability, this additional exposure can lead to a horizontal well's total recovery rate being as much as ten times that of a vertical well.

In areas of stacked pay like the Permian Basin, producers can also drill multiple horizontal wells in one area to target individual formations at different depths. As well as compounding the resource potential of each acre of surface ground, it allows for massive economies of scale as multiple wells from a single pad can target different zones while sharing infrastructure and services.

Another quite impressive post Scot, but you never answered the question of valuing 88E at £52m. And using your own analogy if I was to buy a house in Battersea the same size would cost a greater amount in Mayfair so it just confirms it's not like for like. You just wish PANR lived in Mayfair whilst I am happy that 88E lives in Battersea as when the Flow test results emerge they will move to Mayfair.

Not knocking your assumptions that PANR oil is worth more than 88Es but it's worth nothing until it reaches the surface, so we are both paying for a house in Mayfair and Battersea but PANR have a mortgage (debt) and 88E doesn't. I'm okay with that as my £52m house will increase quicker than yours as I have no interest to pay. My estate agent values at a much higher rate ;)

7, 6, and now 5%, maybe it's the countdown for results ;)