Member Info for tonynorstrom1

To be fair Serenstar - he was mainly criticized for taking the CEO's comments about timelines on testing out of context. Someone else has now challenged him to justify his comments on flow rates which I dont think he can for a couple of reasons:

1) He doesn't appear to know what he's talking about

2) And even if he did - there's no basis for his comments

Abacus1 - are you still going on about this - give it a rest son, give it a rest

Go look at your 2nd May post at 19.04 where you wrote:

"The claim of testing being complete within 1 month from that podcast is nothing short of alarming"

This claim was never made and I think just about everyone here would agree that you've taken Max completely out of context for your own purposes. No one is really obsessed about this either except you - its a nothing burger. The testing should complete in the next couple of months and even if it were to go beyond this - not a train smash. I think that David Hobbs in response to questions during the Webinar said that he current expects the testing to be within budget including contingencies.

You are stupid and there’s no point in arguing with you - I don’t think anyone gives any weight to your opinion anyway - so have at it!

I’m beginning to think you are stupid or perhaps not native English speaker !

You mis-quoted the CEO and you know it - he never said testing will be complete within a month which is what you originally said - he said a “month or two” which you now admit which is completely different. You’ve not rattled any cages because I think many here think you have now idea what your talking about - don’t over estimate the importance of your opinion - I’m not !

I’ve known Stas20 indirectly through these message boards for a number of years - in my experience he offers pretty decent insight most of the time - particularly on technicals. Not sure what your “not a normal person …. Nuff said refers to?”

What are the technicals telling you?

Abacus1 - you're going out of your way to talk PANR down. Whilst it's useful to have alternative views points - you've not added anything substantive to the discussion here. Misquoting the CEO and being unduly skeptical is not a lot of help to anyone here unless you post something sensible.

"....achieved flow but a best rate of 50 - 140 barrels per day is comically bad." I'm not sure that anyone who knows what they are looking at would necessarily agree with you.

When you scale up the result for multi leg long laterals - the company believes that the rates will be commercial and plan to prove it with a demonstration well in the near future.

"testing will be complete in a month" is not the same as saying "complete in a month or two". The first statement is pretty definitive which Max was not. For some reason your trying to take his words out of context - its a nothing burger !

I will say as someone has already alluded to is that he will have to be more carefull in future with his wording particularly around timelines to avoid unecessary discussion and people spinning his words.

"Bizarre comment, confidently posting something objectively incorrect as fact."

I actually find the following statement bizarre coming from the apparent voice of reason:

"The claim of testing being complete within 1 month from that podcast (posted a week ago, so within THREE WEEKS from now) is nothing short of alarming"

It seemed pretty clear to me that there were a couple of months of testing left starting from when they got the fracking equipment onsite - I dont think Max ever said testing will complete within 1 month so no need to feel alarmed!

Better set of posts by the way on the alkalinity of the well and the expectation that there will be no material change as we move up the well bore and hence the higher degree of confidence in the presence of Oil in the shallower zones.

I wonder whether they are considering testing the zones out of sequence - i.e. move onto a shallower zone next. Max alluded to the fact that it was possible although not the most efficient way to test the well.

hey nana head - “mr magic merlin my old chap - allow me to illuminate….”

what a ****** - your an ass pimple and an expert in your head only - you should know your place !

Not sure about the “similar comments” - the CEO was first to explain the results and I think he did a pretty good job doing it. Personally don’t see the need for posters saying “this is the best explanation yet” when it’s pretty much a copy straight from the horses mouth. The SP reaction since is surprising to me based on the apparent confidence in finding oil in the upcoming tests.

Hey Nana Head - I know your probably sitting in a corner laughing at your own posts - but remember - your held in the same esteem as a pimple on an ass !

Serenstar - you obviously did not listen to the podcast yesterday - its worth a listen if you are a serious investor. They didn't give a date for the next results - its dependent on the availability of the pumping equipment required for the frack in the next horizon and apparently there is only one set on the North Slope - so it is dependent upon when it is released by the other operator. They went on to say that its not a big issue as they are working off a gravel pad and also that they have other operations to complete such as cementing prior to the flow test. After the next test - the following horizons dont need fracking so dont need this equipment which which speed up the testing and results.

I'm surprised that John Henry has not been pulled up - his posts are unduly negative and there appears to be some factual inaccuracies in some of what he posted:

"The Original Prospective resource of 609 Million barrel of ANS crude and 3.3 TCf of gas for Topsets 1 3 and 9 amounts to nothing."

TS1 - ok

TS3 - Not sure his comment is technically correct. The logs indicate the presence of Oil - the reason given for not testing was that that its the deepest & tightest reservoir with geology very similar to wells they've already tested i.e. it would give them no significant data that they dont already have . I don't think they have discounted going back to this horizon at some point in the future unless I missed something

TS9 - I'm not sure what this is - I dont see it shown on the presentation?

This talk of wildcat drilling and the probability of success is missing something. I believe the COS when it comes to drilling a wildcat is the probability before the well is drilled i.e. after seismic or some other tool but prior to drilling. In this case the well has already been drilled and oil found in 7 horizons albeit that in TS1 failed to flow commercial quantities of Oil.

I dont recall the Company ever putting out a number for the COS for the testing phase but I think its quite clear from the yesterdays podcast that the result at TS1 was a surprise to the team. Therefore would it not be reasonable to assume that they thought the COS at TS1 was more likely than not i.e. some number greater than 50% with the COS increasing in the shallower horizons.

Grezzz - your opinion and it may be valid but I don't agree - I think with the easter Holiday, the meeting was only put up on the "Investor Meet Company" website yesterday which meant many of the questions were posed late including in the meeting. I thought the answers were competent and credible and increased my confidence anyway!

Hey Nana Head - I bought another’s 21,600 shares today.

I saw your latest post - remember your a pimple on an ass - do you really think anyone pays attention to the drivel you post - give it up son, give it up!

00:22

To be fair to Abacus - I think he does have a point. It doesn't matter the dollar value he, you or anyone on this BB assigns to 1.6B barrels of oil - its what the market assigns and that's currently about 30c per bbl and that's taking into account that at least some in the market think there is a chance of success at Megrez and the gas pipeline. Certainly many on this BB are expecting success .

The Companies target of $5/bbl market recognition is based on a discounted cash flow (NPV10) calculation and as you should be aware better than most - most if not nearly all Oil Companies are valued by the market at a fraction of NPV10 - particularly smaller and early stage developers.

I think there's two hurdles hampering PANR's valuation and the're related:

1) PANR's ability to attract project finance

2) A successful flow test - one that doesn't require extrapolation of the numbers. That why PANR are talking about drilling a 1-2 mile lateral well.

I'm sure the forum here would look forward to your considered opinion on what value the market should assign to PANR's oil, what is hampering it and what its going to take to get PANR there.

Very quick fact check Scott125 - you can see from the message it’s tonynorstrom1 and not tonynorstrum1