Member Info for tonynorstrom1

AlexDD - you’ve got that “a flare doesn’t prove a goddamn thing” - off pat! Well done - you sound super tough !

“Are there any announcements in the world? or its just the day?”

What a completely useless post - what does it even mean?

Well it appears we have gas - do we have oil?

What about if we get a decent flow test result on this well?

Leesteuk - this is what u posted on the 12 Nov "No you won't see me here again because I have now sold off my shares here apart from 30k which I will leave as a flip of a coin gamble," But your still here adding zero value - why ?

Gaztop49 - good to show a bit of discipline and sell out when your evaluation is that there is too much risk and uncertainty. Not an easy thing to do as many including myself are guilty of hanging on too long from time to time.

Whilst the operations update did little to boost confidence - the last paragrapgh stated:

" With the successful completion of the Dubhe-1 stimulation and ongoing well clean-up operations, we are entering an important phase in demonstrating the commercial potential of Ahpun."

I read that as PANR as still having confidence in demonstrating commerciality. Perhaps the underwhelming operational update was simply paving the way to being able to talk about operations in todays meeting as others have said in the absence of having full data so far.

Who was the dipstick that said :

"No you won't see me here again because I have now sold off my shares here apart from 30k which I will leave as a flip of a coin gamble"

Bricks - you've taken my "know it all comments" in good humour - so hats off to you for not biting and staying civil!

Stas20 - your take on todays trading and the volume?

SP indicates that the market was not blown away by the update, but the volume is only slightly above average so far today which suggests to me that the big guys have held and that maybe only a few little guys have got nervous and trimmed or exited their position.

The wording of the RNS was interesting - normally and with other CEO's - the RNS for good news starts we "PANR is pleased to announce........". Is this update just Max being ultra cautious after the previous well result?

The update looks in line with what you might expect at this point of time in the clean up but obviously the market has given a very luke warm response - interesting - are we failing to take the cue!

With respect Bricks - your understanding is not based on hands experience but AI or the internet

"Flaring is not the only way to handle excess gas. Operators can also reinject it into reservoirs" - Agreed but do they have an injection well for this operation and have they ever spoken about reinjecting the gas from Dubhe1 - I think the answer is no !

"compress and pipe it for use" - agreed but do we have a pipeline - I think the answer is not before FID, $12B and 2-3 years so no

"or recover it through gas-to-liquids (GTL) or LPG units" - Do we have any gas to liquids plants - answer similar to above - no !

"CO₂ from flaring or other processes is measured using specialized flow meters and sampling systems, not just simple grab samples" - I'm pretty sure that they have whatever flow meters, sample bombs they need to conduct the flow test and sampling.

Also were not talking about CO2 from flaring - the issue is CO2 entrapped in the NAT Gas which is related to corrosion.

How do they capture the gas Bricks - they have to flare, reinject it or pipe it - they have to flare !

How do they measure the CO2 - they sample it - simples !

I do know almost first hand that Worley is looking for a Construction Manager for the pipeline - so behind the scenes its still full steam ahead with FID! Not directly related to todays RNS I know but an interesting snippet.

You've used the same AI software as me Stas - that's exactly what my friend said also !

I dont think it is anything like the last update - the previous update also stated that no appreciable oil and gas was recovered. This update says that its early in the clean up process with approximately 20% of injected water recovered with "steady gas production and intermittent production of light oil.".

So I would agree that caution required but in itself not a negative update with everything still to play for. The 20% recovery of injected water appears to indicate that they are proceeding slowly to protect the reservoir although the start date of clean up is not indicated. Not a "home run" yet but not a bad update either - perhaps an indication of the CEO's style of under promising and over delivering . Lets see what the market thinks.

"NO YOU WONT SEE ME HERE AGAIN because I have now sold off my shares here apart from 30k which I will leave as a flip of a coin gamble"

Well thank goodness for that -your self righteous, master of doom act was getting a little long in the tooth in any case!

And hey - shut the door on the way out!

"All they need to say is we have encountered no problems and all is on schedule, all this silence just leads to assumptions and scare mongering ,come panr just calm investors nerves and the market"

All they need to say, in fact all they are required to say is when they have material news which they have to announce as soon as practically possible after it becomes known. If they announced what you suggested and then the actual / material news fails to meet expectation - then they would almost certainly be accused of misleading the market - that would be pretty stupid and open the Company up to potential law suits.

It's not unusual for a 4-6 week gap or longer from completion of the frack to flow test results - especially on long laterals / multi frack wells. Some of i3e's wells in the Simonette for example took up to 3 months - so PANR are not necessarily late or out of line with their previous RNS.

If you want a daily update - buy the Daily Telegraph.

Yes this time next week Rodders!

That's exactly right justme1 - in addition to that. These are the publicly available capex figures for ConocoPhillips:

2024: $12.12B

2023: $12.90B

2022: $10.16B

2021: $5.32B

2020: $4.71B

2019: $6.62B

etc

So whilst PANR undoubtedly has some very valuable assets - there's a lot to figure into the valuation to come up with a target price. The $5/bbl is clearly sometime down the line after conversion of resources into reserves along with further development and arrangement of financing.

BricksSA - of course your comparison is a whole load of nonsense - ConocoPhillips is a production company FFS !

Its like comparing a Hickory Horned Devil caterpillar with a Cosmic Crisp Apple !

Stas - I respect your opinion / technical analysis but imo - you’ve got this wrong - plain and simple though I recognize from the number of likes you have your opinion is shared by others. I do however agree with a couple remarks you make:

1) “In my book” - I.e. it’s merely your opinion and not fact as are my comments here.

2) institutional / large investors are treated differently than PI’s - correct and what is the reason - me and you have a couple of quid to throw into the pot and the Company needs $30m. We’ve both been through this several times including with I3E when PI’s were given the opportunity to participate in a fund raise - they didn’t even fully subscribe to what looked like a relatively modest allotment of about £2m worth of shares.

These fund raisings by there v nature have to be conducted opportunistically, timely and when exectuted have to be disclosed immediately. This is what they’ve done - however , if your expecting PANR to give PI’s a heads up on any fund raising - then I think your mistaken which I’m pretty sure you already know.

I think if the flow test goes well - we’re all going to do well.