Re: Strange! Couple of little comments about #4 in the last rns possibly suggest its going better than planned ... two new horizons ... and looking at production infrastructure in Tyler county? gla
Re: Strange! The rns was actually very good in the fact that #1, 2 &3 are all connected .. but I think that full production flow rates wont be known for a few weeks kinda put a dampener on the celebrations. Still holding as I think the transition to a producer with an income (however modest) will lead to bigger things .. that and #4 of course
Strange! After this mornings great news and revenue to follow before Christmas, I cant quite believe that the SP has not risen significantly. This share is well under-valued at 0.61p. Hopefully the MMs will realise and start to buy in and move the share price up where it should be , in the ££££.I welcome any feedback?
Re: SP will rise on this RNS Not much of a sell now at 60p eh!
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
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
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.
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
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.
Re: SP will rise on this RNS So 1048KB the question has to be why are you here?? On the assumption you dont think panr will ever be a success... why are you here ?? Seriously Im interested in your motivation to keep posting?? If I read up on a stock I think is going nowhere I just delete the info. Its always a gamble on AIM but I find repetitive negative posts just as annoying as the ultra positive ones.
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.
Re: SP will rise on this RNS So do you think them hitting 100% hydrocarbons each time is luck 1048KG? !
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-80s, the Wilcox took on the nickname Wont-Cox in some circles."Time will tell if Pantheon have cracked this geological code. I don't see any science behind it, only hope.
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.
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 wells potential in this compromised wellbore.