Re: Activity SP did go to 24p, but now back to 20 or lower, positive data needed for rise
O/T 1048 Thanks for the pointers. Had a look, and for my appetite, I like the look of Echo. Interesting period for testing and drilling, financed and nice retrace from recent peak...Anyone in BPC? great news for them yesterday. I was in a few months ago. It it was too much risk for me - I.e red or black so sold out. Oh well, win some, lose some
Re: Activity I guess the question is whether those that bought in at 18p are going to materialise a profit and we'll see a level of resistance or whether we will see further increases as momentum starts to take hold. I would like to say change of sentiment as well, but there is nothing to suggest that just yet...Nice to see some decent volume today.
Re: Activity Very impressive rise today all those bought at 18p must be very happy.
Re: Activity Are you a shareholder?
Re: Activity Padmaster - if you had ever been on a rig, you would know that the operator selects and supervises contractors. If a contractor isn't properly supervised, they will get away with what they can. Do you recall Pantheon grumbling about poor services provided by Halliburton and Schlumberger (both world-class companies). That was down to rotten supervision by Vision and (probably) not paying their bills on time.Operators also select equipment. Do you recall that the EagleFord reservoir ate up drill bits in one recent Pantheon well? That was down to poor bit selection by Vision.A contractor (probably Schlumberger) will conduct wireline logging. If you pay them, they will interpret the logs as well. But guess what - Pantheon and Vision interpret the logs, so as to save money. Penny-wise, pound foolish.Vision's track record is appalling. ZeroV - if you are looking to invest in AIM oil & gas companies, take a look at Echo, Hurricane, Savannah, Sound & Trinity (all properly run Operators with professional staff). If you want even higher risk, look at Chariot, Europa, President & Providence.
Re: Activity You guys really don't have a clue. Vision have not been the ones doing the drilling/fraccing?!
Re: Activity Thanks 1048KB. The operator doesn't seem to be particularly competent, but then again, I'm not familiar with what their constraints are... I'm assuming your recommendation would be to get another outfit on-board with more experience of modern (frac?) practices? Would this have changed the outcome if they have opened up a line to a water reservoir? I see from one of your previous posts that you are not invested in PANR (which may or may not still be the case - assuming still the case from your sell recommendation), and I see by your other posts that you comments are generally of a skeptical nature (nothing wrong with that). So, I'm assuming you don't just read and comment on these boards as a general interest, but that you are invested somehow within AIM, and given your O&G background, who would you recommend?Thanks,ZeroV
Re: Activity Pantheon's operator, Vision, is old-fashioned, inefficient and out-of-touch with 21st Century practices. Yet this is who Pantheon are giving money to for operations!Pantheon are quick to boast about their collective expertise and the number of wells they have looked at. It is therefore surprising that they did not have the right testing equipment for testing VOBM-5. It's not as if this was the first time (eg wrong bits, wrong casing, wrong tubing, wrong mud, wrong geology, wrong hydrocarbons blah blah).Jay Cheatham showed investors information from the VOBM-5 well on his recent tour. It was obvious he had no idea what the data was showing. In my opinion, Pantheon has no technical understanding of what Vision are doing. This combination of a useless operator and a partner who keeps throwing money at problems is toxic. It will end when the money runs out.
Re: Activity Ah, a bit of controversy! That should ruffle a few feathers and get a few responses . Thanks all for the responses. I think it's safe to say that all we know is that there were good oil shows on VOBM#5 (extremely good even) , so something black is down there. Until we are told anything else, it's pure speculation, but a reservoir of water with oil shows is as valid as any other theory I guess. I'm surprised with the radio silence here - is that usual for panr or does this suggest something else going on behind the scenes (positive or negative)?Well my predictions were wrong and the momentum didn't really go anywhere and it's struggled to get past the 5 day ema. It will be interesting to see what happens when it breaks that.
Re: Activity 1048KB - you are obviously an oil and a as expert. Can you share your expert advice on what another's operator would have done?Wha evidence do you have that the water is from the resovoir? Do you in the resovoir ?!
Re: Activity Yes ZeroV, it is the gas that is causing the freezing. That said, a better operator than Vision would have been able to make contingency plans to deal with this.And Pantheon have not addressed the elephant in the room - namely that the water is coming from the reservoir, not from some deeper zone.Anyone still buying based on past performance is flying in the face of logic.
Re: Activity Hi, yes you're right, it is very quiet in here. I think a lot of people became exasperated with progress and moved on, although it wasn't a huge group in the first place.I'm still keeping the faith and topped up recently, hoping for a bounce on more positive news - we're certainly due some!!As regards freezing, I believe that you're right in that gas expansion can lead to freezing.
Activity I'm surprised it is so quite here given all the activity that's happening with the shareprice - LSE seems to have some healthy discussions - is this generally where people reside for this share?Some strong upwards momentum building which is good to see - lots of activity at close in both directions... I was starting to wonder whether the produced water had permanently dampened anything exciting happening! At least we've identified the support levels!We have closed pretty much at the 5 day EMA point (23.38), so next target 10 day EMA (28.78). - I would suggest that without news, that is likely to be where we will sit +/-.I would have expected that the heaters would be in place by now - not sure they can make water into oil, but at least we would be able to categorically say that we need to drill again / side track. Presumably, since water and oil is relatively in-compressible, the freezing is due to the expansion of gas that is coming up? Again, any O&G SME's able to advice....? (Echo.... Echo.... Echo!).
JC Interview from 09/04/17 For those that haven't seen interview following Mondays RNS release - some good snippets of additional information. Lots to be positive about here I believe, especially at these prices. VOBM#1 coming on-line should be exciting whether that be via a re-drill or side drill, and should be relatively risk free given the flow and pressure seen two years ago. [link]