Pantheon Resources Plc (PTHRF)

[doinit]

PTHRF,, I especially liked all these points of interest

this,is,from,a,year,ago,,,all shown to come to pass
A few (very quick) key points to remind ourselves of in these extreme circumstances:

1. PANR has no debt

2. Clean capital structure

3. Strong supportive shareholders

4. >12 months cash on hand – Audit Report signed off 2 weeks ago

5. We are a "conventional" oil company as opposed to "unconventional" ie shale. Lower cost of production
6. Our project models are robust at oil prices much lower than the shales. With the downturn in the oil price we will see significant cost reductions coming through (drilling costs, service provider costs etc). We’ll be updating our models to reflect the changed macro environment but believe at this stage Greater Alkaid should be breakeven between $20-30/bbl

7. Low royalty rates 12-17% (some of the lowest in USA)

8. Our assets located virtually under and adjacent to the pipeline and highway infrastructure

9. We are "onshore" versus the capex intensive "offshore" players. Significant advantage

10. We have phased development potential for big oil as opposed to major upfront capex

11. Oil service rates will plummet and we are well positioned to take advantage of this to get costs down
12. Our Alaskan play is a long term play – this is a 40 year or more play, exposed to long term oil prices. Realistically, in a best case scenario, we would only likely have a maximum 1 or 2 wells on stream in the next 12 months (subject to a successful farmout), so it is long term not short term prices that are key