Hub
09 Nov 2017
Looking fruity Massive volume for PANR based on 30mins of open. Usually get 600k traded in a day not the first 30mins.Curious thing is, there is no news... yet.We know VOB#3 is being tested direct into gas pipeline so I suspect there will be plenty in the 'know' across the pond. First commercial gas flows were cited for mid Nov so could just be the usual pre news trading?Other than that, it's possibly too early to know anything on VOB#4 sidetrack although I suspect they will get a decent idea of how it is going by week 3 or circa next week.Volume is your friend and PANR is looking fruity on that frontHUB
PADAMSTER
01 Nov 2017
Re: SP will rise on this RNS For someone who claims to have been in the industry I think you don't have a clue what your talking about! I wont dissect your response to me as I am just tired of these silly posts on various BBs from different posters
1048KB
01 Nov 2017
Re: SP will rise on this RNS HubI have never owned, nor ever would, Pantheon shares. I recommended selling them when they were 90 pence. Now they are 42 pence and are still a Sell.I worked overseas for two decades on international oil & gas, and am still working (part-time) now.I follow many companies on several markets.
Hub
01 Nov 2017
Re: SP will rise on this RNS boredofblogs, you have a valid point.Here's the fact sheet on 1048KB1. Joined iii 17 years ago. (sleeper avatar?)2. First post on iii comes 16 years later. (where have you been... in the shadows?)3. Only ever posted on 2 stocks. PANR and AMER. (there are hundreds out there)4. Chose PANR as first BB/company to post on in Sept 2016.5. Over the last 14 months (and over the last 17 years), posted 22 times. 12 on PANR and 10 on AMER.In summary... very fishy!!!I don't have a problem with 1048KB's posts. But like you, I find his posting history very odd indeed.Anyone with industry experience would want to discuss many stocks across many BB's. It's in the DNA of 'knowledge'.So conclusion would be that he's either been stung by PANR in the past and is keen to bash the company whereever possible or just feels compelled to post on 2 stocks after 17 years of virtually doing nothing.Anyway - in terms of PANR... they certainly have alot to do to get shareholders/investors trusting in them again. They really do need decent results from Vob#4 and gas flowing in next 2 weeks or else... 1048KB will be ready to break into 23 posts over the last 17 years.I presume if PANR achieve anything good, he simply remains quiet?HUB
1048KB
01 Nov 2017
Re: SP will rise on this RNS To boredofblogsSome investors might like to hear the opinion of people who know the industry but are not emotionally attached to stocks. If this annoys you, don't read my posts.
boredofblogs
01 Nov 2017
Re: SP will rise on this RNS So 1048KB the question has to be why are you here?? On the assumption you don’t think panr will ever be a success... why are you here ?? Seriously I’m interested in your motivation to keep posting?? If I read up on a stock I think is going nowhere I just delete the info. It’s always a gamble on AIM but I find repetitive negative posts just as annoying as the ultra positive ones.
1048KB
01 Nov 2017
Re: SP will rise on this RNS It is not difficult to find "hydrocarbons" by drilling in this part of Texas. However, it is not easy to find oil or condensate in such deep reservoirs, which is what Pantheon claimed they could do. I don't think they have.It is also not easy to find porous, permeable reservoirs that contain hydrocarbons in a trap in an area that has been drilled as much as this. From the limited information Pantheon put out, these don't sound like porous, permeable reservoirs to me.There's an oilfield cliche, which says "I'd rather be lucky than skillful", meaning sometimes luck plays a big part.However, I don't think Pantheon are skillful, and I suspect they are not going to be lucky.I've worked in the upstream oil & gas sector for 40 years, so have some experience of the business.
PADAMSTER
31 Oct 2017
Re: SP will rise on this RNS So do you think them hitting 100% hydrocarbons each time is luck 1048KG? !
1048KB
31 Oct 2017
Re: SP will rise on this RNS Pantheon say on VOBM#2"Our well documented difficulties in drilling horizontally in the hard and abrasive Eagle Ford sandstone has resulted in a suboptimal wellbore completion which will impact the ability to maximize flow rates. The various bends and curves in the wellbore will most likely cause turbulence and back pressure effects in certain areas, masking the true potential of the location."It sounds like they are preparing the ground for a less than over-whelming result when they hook the well up. I expect this type of reservoir to stop producing within weeks.As for the Wilcox in VOBM#4, here is a quote from an abstract that can be found by searching for "Wilcox formation production in Texas""The Wilcox Formation has been a heartbreaker and money-maker. After the easily identified structures had been drilled and commodity prices crashed in the mid-80’s, the Wilcox took on the nickname “Won’t-Cox” in some circles."Time will tell if Pantheon have cracked this geological code. I don't see any science behind it, only hope.
Southmead
31 Oct 2017
SP will rise on this RNS This RNS shows good progress towards revenue from gas sales, improved by the gas output from VOBM#2H. Better to take the gas on show than risk further jeopardizing the well with a remedial procedure. I would hope that the well will flow substantial amounts of gas and eventually pay for any improvement procedure later on. Meanwhile VOBM#4 Sidetrack will be completed and the results known and this could be a big result, lets hope so.
Southmead
31 Oct 2017
Great RNS Good Progress 31/10/3017 Pantheon Resources plc Operational Update 31/10/2017 Pantheon Resources plc (“Pantheon” or “the Company”
, the AIM-quoted oil and gas exploration company with a working interest in several conventional projects in Tyler and Polk Counties, onshore East Texas, provides the following update: VOBM#4, Tyler County – wellbore sidetrack The Company is pleased to confirm that drilling operations have now commenced on the sidetrack of the VOBM#4 well, targeting the Wilcox formation, which was encountered while drilling the original VOBM#4 well. Operations are estimated to take a further 30 days on a trouble free basis, with testing to occur thereafter if warranted. Results will be reported at the conclusion of testing. Gas processing facilities, Polk County Assembly of the Kinder Morgan gas processing facility in Polk County is now complete. The operators of the main trunkline have indicated the second week of November 2017 as a likely time for sales gas flow into the pipeline. VOBM#2H, Polk County – flow testing operations Reservoir and fluid dynamic engineers have completed their analysis of the compromised wellbore and deviated geometry of the VOBM#2H well. Our well documented difficulties in drilling horizontally in the hard and abrasive Eagle Ford sandstone has resulted in a suboptimal wellbore completion which will impact the ability to maximize flow rates. The various bends and curves in the wellbore will most likely cause turbulence and back pressure effects in certain areas, masking the true potential of the location. Given the expected commissioning of the gas processing facility within the next fortnight, VOBM#2H will remain shut in until facility commissioning has been completed and the well can flow directly into the facility and pipeline. This will allow the Company to benefit from being able to sell (rather than flare) the tested natural gas, while saving the additional cost of testing equipment. The operator can then accurately test well production volumes directly into the gas processing facility. Results will be reported at the conclusion of those tests. Jay Cheatham, CEO, said: “I am very excited about the potential of the Wilcox reservoir on our acreage and in particular in this VOBM#4 sidetrack well. The Wilcox produced potentially significant hydrocarbons in the original wellbore, and has been a prolific producer in both Tyler and Polk Counties, although not in our immediate area. If successful, it has the potential to be material for our company, particularly given our increased 75% working interest in this well. I am also pleased with the progress to bring our Polk County production assets online in mid-November 2017, paving the way for first revenues thereafter. The decision to flow the VOBM#2H well directly into the gas processing facility is a prudent one allowing us to sell the tested hydrocarbons and minimise costs. The well logs for this well, and its location between the VOBM#1 and VOBM#3 wells, suggest that the VOBM#2H location is a very good one; our challenge is to maximise the well’s potential in this compromised wellbore.”
boredofblogs
14 Oct 2017
Re: July 14th RNS "We know that the bends and curves in the VOBM#2H well bore, arising from horizontal drilling issues, are sub optimal for completions and production. However, the well logs are exceptional and the well location, between VOBM#1 and VOBM#3, both of which will be producers, give us confidence that the well location has great potential. Our challenge now is to optimise flow rates given these factors. We will likely complete an extended test and I look forward to providing an update once testing has completed." ..... (( ***#1 and #3 *** both of which will producers )) When testing on #2 is complete and all three are hooked up to the processing facility revenues should improve considerably.
Nervousrex
13 Oct 2017
July 14th RNS The VOBM#1 well alone, at tested flow rates on a 12/64ths choke could generate an initial c.$635,000 free cashflow per month to Pantheon, at today's pricing(1) and after taking into account the accelerated payback arrangement(2) concluded last year, after royalties and production taxes. This would generate sufficient cashflow to fund the projected cost of a Polk County vertical well within 4 months. Larger choke apertures would be expected to produce disproportionately greater flow rates. · At full capacity and on the same terms, the 15mmcf/d gas processing facility running at maximum throughput at today's pricing(1) is modelled to generate over $1,500,000 per calendar month of free cash flow net to Pantheon. ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ------As far as I am aware , this is still the case . Am I wrong ?
boredofblogs
11 Oct 2017
Re: Great RNS Good Progress The wells have already technically been paid for so this will be new revenue.... but who knew the price of oil would collapse eh. Your valuation will also be x3 if they all flow at similar rate so maybe not to be dismissed quite so lightly....
1048KB
11 Oct 2017
Re: Great RNS Good Progress The VOBM#3 test results confirm that the reservoir contains 70% gas and only 30% oil/condensate. Gas sells for one third the price of oil on a per barrel basis, so this large proportion of gas is not good.The flow rates are very modest and will generate $10-12 k per day in revenues. Assuming that the wells will keep producing (unlikely) it will take more than a year to pay the cost of drilling the well.And then there is the capex and opex to take into account as well.This doesn't make economic sense.On top of that, Pantheon has subsurface risk because of the inconsistent nature of the sand reservoir, and the operational risks assciated with an operator like Vision.
