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PTHRF,,,big gainer,,just starting,,long way to go,,,long way
someone went in for 1million shares
PTHRF,,,volume up today,,,moving nicely
my memory says, when so many consecutive buys, the pps is supposed to increase. mm's not following regulations
thinking they, mm's, stalled this to stop a big run.
mmmmm good,,,solid rise and hold today
more on comparisons,,
$PANR share horizons with 88E, and 88E is downdip.. yet, under performance. Well done to the 88E team on advancing their acreage but pantheon is well advanced. A fact that 88e leveraged to get their results on their most recent tests. Markets will eventually arbitrage value… pic.twitter.com/CdmqsvwTra
— Diego Marchetti (@diegodoesdo) April 2, 2024
PTHRF,,,looking better and better
In time this will be another revenue stream for Pantheon.
GLTA
$PTHRF
this company is going places
Pantheon Resources (PANR.L PTHRF P3K.F) announced an update on its development planning and funding initiatives. New independent expert reports from Cawley Gillespie & Associates and Lee Keeling & Associates have shortened the timeframe for potential partners to conduct technical and commercial due diligence to enable the conclusion of non-equity funding arrangements by the end of Q2 2024. The reports will be released in the next few weeks. Additionally, Pantheon could potentially provide gas for in-State use through Alaska LNG, thus reducing the number and cost of gas re-injection wells, and further providing a path to the commercialisation of helium potential identified in the Kodiak field. Meanwhile, Pantheon is undertaking preparations to support winter campaigns for up to three appraisal wells in the western portion of the Kodiak field, subject to funding, and preparing drilling plans for a Megrez-1 well into eastern Ahpun Topsets.
Progressing nicely and some major hurdles behind us. Let's go PTHRF
$PANR BIDEN ADMINISTRATION FORCEFULLY SUPPORTS ALASKA LNG AUTHORIZATION
— Diego Marchetti (@diegodoesdo) March 30, 2024
Frank Richards, president of the Alaska Gasline Development Corporation (AGDC), which is developing Alaska LNG, said, “Alaska LNG has received all major federal permits and authorizations and as AGDC…
THIS FROM DAVID HOBBS
$PANR David Hobbs, Executive Chairman of Pantheon Resources, commented:
— Diego Marchetti (@diegodoesdo) March 28, 2024
"We have made considerable progress during the past several months towards accessing funding on the least dilutive basis possible. The competitive advantage of our location and gas composition, which could…
READ, READ, AND READ
$PANR Offtaker Finance Initiatives:
— Diego Marchetti (@diegodoesdo) March 28, 2024
Advanced discussion on a proposed agreement with Alaska Gasline Development Corp ("AGDC"), subject to regulatory approvals, Alaska LNG FID and assignable to ultimate customers, to supply up to 500 million cubic feet per day ("mmcfd") of natural…
AND,,read this'un also
$PANR Offtaker Finance Initiatives:
— Diego Marchetti (@diegodoesdo) March 28, 2024
Advanced discussion on a proposed agreement with Alaska Gasline Development Corp ("AGDC"), subject to regulatory approvals, Alaska LNG FID and assignable to ultimate customers, to supply up to 500 million cubic feet per day ("mmcfd") of natural…
THIS NEEDS READING,,
$PANR Vendor Finance Initiatives:
— Diego Marchetti (@diegodoesdo) March 28, 2024
Pantheon is working with two large service companies on mutually beneficial arrangements for oilfield services. This would reduce upfront cash requirements and allow scheduling of equipment availability, including potentially new build facilities…
GOOD INFO HERE,,,
$PANR Frank Richards, President of AGDC, commented:
— Diego Marchetti (@diegodoesdo) March 28, 2024
"Alaska is facing an energy crisis, and AGDC is exploring every option to deliver a new, affordable, reliable, and long-term energy supply. This proposed agreement provides for more than enough gas to meet Alaska's in-state…
Pantheon Resources (PANR.L PTHRF P3K.F) announced interim results. Cash on hand at 15 March 2024 was US$8.7 million. Per David Hobbs, Executive Chairman, an updated report is expected from Netherland, Sewell & Associates at or near the end of this month, updating its resource estimates for Kodiak to include the new acreage acquired in the State of Alaska's December 2023 lease sale. Netherland Sewell is also working on a resource estimate at Ahpun, targeted for completion at or near the end of Q2 2024. Final investment decision for Ahpun is targeted by the end of 2025 and for Kodiak in 2028. Shorter term, the company is working to optimise a funding platform for the Ahpun development and says it will provide a preliminary update over the coming weeks, with a goal of finalising strategy by the end of Q2 2024. An infor
https://polaris.brighterir.com/public/pantheon_resources/news/rns/story/w9n41er
(1/3) Pantheon announces its interim results for the six months ended 31 December 2023, a period in which $PANR has made great progress. Read the report in full at: https://t.co/IUHD4VmUNb pic.twitter.com/Csrnx7POpY
— Pantheon Resources (@PantheonResour1) March 18, 2024
Is this going to be a billlion company, billions
PTHRF,,, pps seems to be turning up
I didn't know you got kicked off the board. I saw the Mods show up & knew the board got hot but thought you went on to greener pastures.
Thx for the link.
Peace!
link to James post
LSE $panr OTC $pthrf
— FlightUseful7258✈️ (@Flight_Useful) February 6, 2024
Mr Fitzsimons interview
interview with David Hobbs
“if everybody who's proposed something were to close on what they indicated, we might actually exceed the $120 million. Of course, that's the ideal world and the real world is somewhat messier,” pic.twitter.com/vukVJKj3K6
David Hobbs,,, read up on him,,,very,very good,,,
Talking with David Hobbs, Executive Chairman of Pantheon Resources about its 2 billion + barrels 2,000 + wells Alaska North Slope oil development
James Fitzsimons
James Fitzsimons
Corporate Finance & Investment
1 article
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February 6, 2024
>>> https://www.linkedin.com/pulse/talking-david-hobbs-executive-chairman-pantheon-its-2-fitzsimons-ru5oe/?utm_source=share&utm_medium=member_ios&utm_campaign=share_via <<<
Open Immersive Reader
Pantheon Resources (London: PANR) was a fairly controversial company until David Hobbs arrived last year and steadied the ship. Now with a complete and coherent plan in place, it's well worth a look. I spoke with David at the end of last week with a focus on how their ambitious project will be financed. We spoke about Proton Green too, a US company with potential in both the helium and beverage grade carbon dioxide industries. A transcription of the conversation follows:
JF: I’m talking today with David Hobbs, Executive Chairman of Pantheon Resources, a London-traded company with around a quarter of a million acres on Alaska's North Slope. It's got the potential for over 2 billion barrels of hydrocarbon liquids, with perhaps 2,000 wells. At the other end of the spectrum, David's also Chairman of Proton Green, which has around 170,000 acres in Arizona, with a 33 billion cubic feet helium reservoir, a 9 trillion cubic feet beverage-grade CO2 reservoir, and a basin with the potential to store 1 billion metric tons of CO2. Proton Green has recently reversed into a U.S. public company shell, and Pantheon is in the process of moving its trading venue to the U.S. too. Over to David.
DH: Good morning, James, and it's great to have an opportunity to talk with you.
JF: Thank you, David.
DH: So, you mentioned both Pantheon Resources and Proton Green, two very different companies, at different ends of the spectrum. At Pantheon, we've done a substantial amount of appraisal of two large fields, the Aphun field and the Kodiak field, and recently, Netherland, Sewell & Associates provided an estimate of the contingent resources in Kodiak, which were just shy of a billion barrels of recoverable marketable liquids, and the study on the Aphun field is ongoing. We hope to be able to release that in the coming months once they’ve completed their work, but as you say, the company's expectations are currently for an aggregate of around 2 billion barrels of liquid hydrocarbons to recover and produce into the Trans-Alaska pipeline, and we have reached that stage where the capital requirements step up. We estimate it's about $120 million to get to first oil production, probably a little more to get to the point at which the development becomes cash flow positive or self funding, and the strategy for raising that money is probably going to involve a listing on a U.S. stock exchange because with an American asset, it will be important for us to be an American company and exposed to American investors without any barriers to their being able to invest.
JF: The big issue, of course, is the financing, and I think that is the principal concern of investors. You've talked about vendor financing. How realistic do you think that is?
DH: Well, I think that there are two elements to it, we've talked about vendor and off-taker financing. So, let’s deal with the vendor financing first: based on our modelling, we estimate that there may be as many as 2,000 wells at $13 to $15 million cost per well, that's $25 to $30 billion of capital investment over a period of 10 to 20 years. That has a value to a contractor or vendor of having certainty of work and being able to do that work on some kind of gain-share basis, leading to it being a stable and profitable part of its ongoing business. And what we're seeking is to have vendors who are prepared to defer payment in the early startup period in return for a commercial coupon on that deferral and then repayment in the subsequent year in order to secure the work without having to go through the costs of competitive bidding, potentially lengthy negotiation of prices and renegotiations and re-tendering on an ongoing basis. The conversations we've had with some of the key potential partners in the development have indicated that there is a genuine possibility we can indeed raise a portion of the funding from that source. The other channel, that I described as off-taker financing, is by giving lifters of our production access to that stream on preferential terms, we can bring forward some capital from the off-take. And so, in aggregate, if everybody who's proposed something were to close on what they indicated, we might actually exceed the $120 million. Of course, that's the ideal world and the real world is somewhat messier, but as things stand right now, we are in material discussions with a number of players that have the potential to cover our aggregate capital requirement to first oil, but no guarantees.
JF: Right. But what really is the worry of a placing? I mean, if you're talking about 2 billion barrels and you've stated an objective for a market valuation of $5 to $10 a barrel, you're looking at basically a capitalisation of $10 to $20 billion. Now, I think currently you're capitalised around about the 200 million mark. Even if there was heavy dilution with a placing, the upside is quite significant.
DH: Well, that's exactly right. Although just on the basis of today's price, our market cap is around $300 million market capitalisation, just shy of 250 million pounds. By doing the right things in the right order, moving forward to get the regulatory process underway for getting the permits for offtake and production, moving forward in terms of having a clear defined start-up and ramp-up strategy that minimises the capital investment. By way of comparison, we expect to spend $120 million to first oil against $1.5 to $2 billion for the Pikka Horseshoe development and $6 to $8 billion for the Willow development, the two other major developments going on on the Alaska North Slope. You can see that the work that we put into making this a digestible development has already reduced the potential dilution of a placing by around 50%. And if we can bring forward some of the vendor financing and offtaker financing that brings the potential placement down to something much more manageable, then the amount of dilution that our existing shareholders will suffer will be substantially less. I think that I've got an obligation to current investors to seek to protect the value that they have in the asset, even if the fiduciary obligation is to the company, not to any specific class of investors, it's still the right thing to do to seek to minimise the amount of dilution necessary to get to production and to realise the value of $5 to $10 per barrel.
JF: Well, I think that's right because some of the recent dilution on AIM has been appalling. Discounts of up to 90% and it really just destroys the value of any existing shareholders’ holding and of course creates tremendous bad will against the company.
DH: I agree and, of course, I'm a shareholder. Since I joined the company, I've bought more than 2 million shares, partly in order to align myself with the existing investors and help provide confidence to them that I'm not about to do the old “kitchen sink job” where a new guy comes in, raises a hell of a lot of money at a big discount and says, sorry guys, it was a basket case and I had no alternative… and then try to judge myself against a low point that I may have had a part in creating. So, ethically, I think the right thing to do is to strain every sinew to minimise the dilution for existing investors, not to the extent that it threatens the viability of the company's strategy, but certainly to do the best I can for them and to align myself with investors so that then we rise or fall together.
JF: Okay. At which point do you think the capital raise would have to come? This year or would it be next year once it lists in the United States?
DH: Well, as we’ve just discussed, our intention is to minimise equity dilution. So, to the extent that equity investment is sought, I think it's a combination of both. The old adage that you never go bust because you had too much cash on the balance sheet rings true. Recently, with Chuck Yates at Digital Wildcatters, we talked about the very few CEOs who say, “I really regret having raised that money…” Their regret is generally that they didn't raise money when they had the opportunity to do so. And so, as we build and we create momentum and we create demand for the stock, we won't be afraid to place shares, with the intention of doing it at successively higher prices as we hit milestones and build material value into the company. It will be raising the right money at the right time in a way that, in aggregate, dilutes value for our existing investors to the least possible extent.
JF: Right. So, moving on to Proton Green, how do you see that one going?
DH: Well, Proton Green is a very different company. We merged into a listed company called Cyber App Development, but the name is changing to Proton Green so, imminently, the ticker symbol will be PRGN. The liquidity in the market prior to the uplist is negligible because all the shares are held in the hands of people locked in as a result of the reverse merger.
JF: Yeah, I noticed there was no ask.
DH: Of course and that's to be expected. So, it's given us a pause as a public company, but without any trade going on, to do all the right things in terms of putting in place the governance and getting our financing organized, etc. We're at a point where we're currently producing helium. Meanwhile we are contracting to start building liquefaction for the carbon dioxide. We've had a lot of approaches from customers wanting to buy beverage-grade carbon dioxide from us as there's a shortage, a structural shortage, in the United States right now. In addition, that's meant putting together the arrangements for the logistics, make sure that we can get it from St. John's in Arizona to customers predominantly in the western half of the United States. There is a lot of work going on and it’s all about execution. It’ll be a few months down the line that we'll have completed all the processes that get us to the point of uplisting. And at that point, there'll probably be some fundraise in the uplisting because we need to create liquidity in the shares and to broaden the shareholder base. But it's a similar company in the sense it's at the start of its development journey, got a very attractive resource, a very clear path to monetization of that and getting all the right partners in place to do it.
JF: And in addition to Pantheon moving its trading venue to the US, you're also moving to the US, David.
DH: Absolutely. I arrived, visa in hand, in the last two or three weeks, getting myself established. My wife's moving house just in time for spring in Houston.
JF: That all sounds very pleasant. It's been a pleasure talking with you, David.
DH: Thanks very much, James, and look forward to talking more in the future.
I've spoken with David a few times now over the past couple of months and he's a person of significant ability. Justin Hondris, Finance Director, is highly competent too. It's not possible at this stage to say how commercially successful the development will be, but once initially financed (which I think will happen) there's a good chance of a share price run up as operations approach. At this stage it still remains more of a gamble than an investment, but if the management team pulls it off, the potential upside is vast.
GLTA
PTHRF
Appreciate the link...David Hobbs.
GLTA
PTHRF
when it's springtime in Alaska,,it's 40 below,,or 60 below
I've got a lot of stuff going on right now. I'll pm later.
repeating this was your 2nd post,,,I placed my first order in on this stock today. The proven reserves are there and it can be making money at $30 a barrel, which beats the hell out of most companies today.
are you up to date on PTHRF news
PS1/ Upgraded IP30 and EUR numbers for an Ahpun production well are based on the successful re-completion of Alkaid-2 and flow testing of the Shelf Margin Deltaic horizon which displayed permeabilities 100x (!!!) that of the deeper Alkaid zone.
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https://www.pantheonresources.com/
April 2022 Webinar Video : https://www.youtube.com/watch?v=XNJDY-byL44
WH Ireland October 2021 Note on Pantheon : http://argoexploration.com.au/content/wp-content/uploads/2021/10/FN-PANR-121021.pdf
Alaska Oil and Gas Conservation Commission http://aogweb.state.ak.us/Drilling
UK ADVFN thread : https://uk.advfn.com/cmn/fbb/thread.php3?id=50280827
London Pantheon Share Price Chart and Volume
Company Web Site : https://pantheonresources.com/
Pantheon's early activities were focused on exploration/exploitation of oil and gas properties located onshore, East Texas. However, in 2019 the Group strategically acquired 100% of the oil assets of Great Bear Petroleum, a private company which had spent over a decade building a significant portfolio of high quality, high potential properties on the Alaska North Slope, onshore USA. Pantheon has since made a strategic decision to exit entirely its East Texas position in order to concentrate solely on superior opportunity offered by its Alaskan assets.
Over its +10 year history, Great Bear built a significant acreage position on the Alaska North Slope, which Pantheon strongly believed offered enormous size and scale in a world class setting. Importantly, the acreage offered the significant advantage of being located immediately adjacent to the main transport infrastructure for oil in Alaska – the Trans Alaska Pipeline Network (‘TAPS’) and the Dalton Highway (the major supply road built to support the Trans Alaska Pipeline System. Being located in such close proximity to the road and pipeline infrastructure is a key point of differentiation and a key advantage over all other undeveloped properties regionally. These benefits are extremely material and should not be underestimated, potentially saving Pantheon tens or hundreds of millions of dollars of development capex, and should result in savings measured in years, for development time horizons. For example, the Alkaid project, located immediately underneath and adjacent to TAPS, provides the opportunity of year-round activity, rather than only the winter months as is the case for other projects. These are considered to be extremely significant advantages.
Pantheon has over 1,000 square miles of modern, high quality, 3D seismic, most of which is proprietary, and has long life leases (+/- 9 years on average) over 160,000 mostly contiguous acres which offers the potential for billions of barrels of oil. This acreage position has been extensively refined over recent years and today Pantheon has a 100% working interest in all of its projects.. Over US$250m has been invested into the assets to date, providing a rich dataset of information which has been used to gain an in-depth analysis of the sub surface geology, which directors believe offers multi billion barrel of oil potential.
THEIR LOCATION HAS TREMENDOUS ADVANTAGE TIMEWISE ,,,
BACKGROUND FOR THE CEO,,
Mr. John Bishop Cheatham, also known as Jay, has been the Chief Executive Officer of Pantheon Resources since January 25, 2008. Mr. Cheatham served as the Chief Executive Officer and President of Rolls-Royce Power Ventures, where he was responsible for restructuring Rolls-Royce. He served as Chief Executive Officer to the Petrogen Fund. Mr. Cheatham has more than 35 years of experience in all aspects of the petroleum business, has extensive international experience in both oil and natural gas. He also has considerable financial skills in addition to his corporate and operational expertise. He served as Senior Vice President and District Manager (ARCO eastern District), responsible for Gulf Coast US operations and exploration and President of ARCO International, where he was responsible for all exploration and production outside the U.S. Mr. Cheatham also served as Chief Financial Officer of ARCO's US oil and natural gas company (ARCO Oil & Gas). Mr. Cheatham also has considerable financial skills in addition to his corporate and operational expertise. He has been a Director of Pantheon Resources since January 25, 2008.
link showing location etc. on map. The map below is broad area. Pantheon is in far right where all the black lines (roads) cross
https://www.alaskajournal.com/sites/alaskajournal.com/files/pantheon_presentation_january_2020.pdf
As at 18 May, 2021 allotted, issued and fully paid: 747,002,203 ordinary shares of £0.01 and
and as of 6 may 2022 there are 760,505,988 ordinary shares,, an increase of approx. 13 million
The Company has 747,002,203 ordinary fuly paid shares in issue and 4,803,922 non voting shares. Non voting shares are exercisable into voting shares on a 1:1 basis
The number of ordinary shares not in public hands amount to 6,666,691 equivalent to 0.9% of the issued allotted and fully paid ordinary shares.
This is correct as of 19 January 2022
Share Warrants(1) | |||
Exercise price (£) | Number of share warranty exercisable into non-voting shares | Expiry date | Share options as a % of issued shares |
0.30 | 9,607,843 | 30 September 2024 |
Exercise price (£) | Number of share options exercisable into ordinary shares on issue | Expiry Date | Share options as a % of issued shares |
0.30 0.27 0.33 | 10,000,000 11,750,000 14,655,000(2)xv | 30 September 2024 6 July 2030 27 January 2031 | 1.63% 1.69% 2.38% |
THE CENTER PORTION IS BROOKIAN FORMATION WHERE PANTHEON HAS LEASES
ALL DOTS ARE HIGHLY PROMISING AREAS FOR ADDITIONAL WELLS AND PRODUCTION
http://aogweb.state.ak.us/Drilling
Basic Petroleum Geology 6:20 in length. https://www.youtube.com/watch?v=pmIkxs6TRao
Elements of Basic Petroleum Geology. 6:04 in length. https://www.youtube.com/watch?v=S5xZf-IDoAg
Hydrocarbon Traps - Basic Definitions. 6:21 in length. https://www.youtube.com/watch?v=FHwt7CDvIT0
Structural Hydrocarbon Traps. 5:40 in length. https://www.youtube.com/watch?v=1FeMmEdZeck
Stratigraphic Hydrocarbon Traps. 7:07 in length. https://www.youtube.com/watch?v=DAl2WfM_NAE
Introduction to Seismic. 5:11 in length. https://www.youtube.com/watch?v=vrj7lulFe_M
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