news anytime.poss 2.30.dyor

online limits buy 1k v sell 50k@27.8.

on the move.130p+ with bullseye and austin ready too spud.dyor

500 million dollar conservative estimate,12.5 million barrels and 33 billion cubic feet of gas.

infrastructure all in place.check golden gate petroleum.

12 mill mkt cap with revenues of 1.8 mill.dyor

net revenues that is at 1mmcfd

Well, well! Mr 'to' / 'too' is back under yet another pseudonym!

I missed him Harry

Indications are that PANR are to be effected by severe delays in Texas with on going technical problems for over 3 months. As this as now been established. Market traers now to reduce their holdings to 20p for PANR.

another duster

Drill Rig on site this Thursday, drill expected to last 4 days.
Will we all know details on the well Monday next week.

Drilling has started, should be completed Friday 15th August.

can't wait

This has just come in as an e.mail. Make of it what you will!
"With 45 days on the clock the market was itching for news from Pantheon and today the company threw us a small fish. The VOBM#1 well has encountered a potential reservoir in the Eagleford/Woodbine sandstone and the company has decided to undertake a flow-test and have completed and cased the well.

A new, lighter and cheaper rig will be brought in for this and will be on site within 10-14 days. Timing here will be crucial and I dont expect the company to hurry the process, expect something in 3/4 weeks. What can one read into this is the big question, clearly it is very good news that a potential reservoir has been identified and the company are prepared to spend more dollars to test, but I suppose the key is, will it flow? The fact is that you can’t determine permeability by electric log and so a proper flow test will be needed. However the other key point is that the company would be unlikely to spend another million bucks if they weren’t ‘pretty damn encouraged’. Another interesting point is that when engineering the well, the drill team went to a larger casing in case they needed to complete the well horizontally, the fact that they have decided to take what they have through the vertical route is extremely positive in my view. The well has found the base of the Austin Chalk with gas shows and the top of the Eagleford exactly where they predicted which also inspires confidence.

Having completed this well the rig has already spudded the second well in the programme which is VOS#1, targeting not only the Eagleford/Woodbine sandstone but also the Austin Chalk gas which incidentally proved gas shows on the way down on VOBM#1.

Pantheon shares are up 7% as I write which is probably fair, if not a touch parsimonious. The company are saying ‘so far, so good’ which is a reasonable way of putting it. It looks like they have found a very decent reservoir but if it doesnt flow it might be plan B and the Austin Chalk which is not a bad backstop. If however it did flow, then it is bonanza time and that is before we know about the second well, although one can rarely predict market movements this would be one of the best and most profitable discoveries I have ever seen. I would conservatively expect the price to double on that supposition with more if VOS#1 were to come in."
I am now in profit. Do I cut and run. Sell half. Or wait for further news. Just another of life's little question marks.

Bought some @ 86.70p

spread 86.50p ( 86.25/86.75p )

Should today bounce back from the large fall recently, there is plenty of action on the order book and slowly is getting stronger. The starting drop today was a capitulation point.

The bounce is on and strong

84.50p - 0.25p

After the early marked down is now one of the best on the oil sector

on a spread of 84 v 85p
DEPTH on the order book is 31 v 24

From 5th Sept:

StockMarketWire.com
Pantheon Resources has confirmed the cessation of drilling operations at the VOBM#2 well and provided an update on the fracture stimulation remediation process at VOS#1 well.

"We have experienced a long list of individual challenges in the drilling of the VOBM#2 well, which has delayed the announcement of results," said CEO Jay Cheatham in a statement.

"The decision to try horizontal drilling with our second Polk County well, which we hoped would enhance per-well recovery rates, has not worked out as we expected and that technique will not be repeated.

"This was the first horizontal well ever drilled into this formation regionally and the abrasiveness of the hard sandstone was unexpected.

"We know that the wells can be drilled quickly and cost effectively vertically, as evidenced in our VOBM1 success nearby, so it makes obvious sense to learn from experience and revert to vertical drilling.

"The frac on VOS#1 has meanwhile confirmed the well as a solid commercial discovery, despite the variable permeability of the reservoir and the blockage encountered in initial drilling. Whilst maximum flow rates did not increase significantly post frac, analysis of the flow test data to date suggests that those rates should be sustainable and increase ultimate reserve recovery.

"The good news is that both the VOS#1 and VOBM#2 wells have encountered significant hydrocarbons in their objective horizons, exactly where we expected to find them, confirming the experience of all three of our initial wells.

"In all three cases the results are consistent with our original estimates of the likely recoverable Eagle Ford reserves and I expect all three wells to be commercial producers.

"Our priority now is to press on with the next two wells in our programme as quickly as possible, so that we can complete the delineation of what we have found in both Tyler and Polk County and move towards production at the earliest opportunity, optimising recovery rates on a field-wide basis."

Share price has halved in just two months and continues to fall on the back of the RNS from 5th Sept, though agree that somewhere around the 80p level offers some support.

88.50p +3.75 (+4.42%)

Today's marked down to once again last Friday's low, gave plenty of inspiration on the Charting front>>>>>> Double bottom

This gyrations are engineered by the order book with sudden drops and bounce bacK to the level of earlier, but this afternoon as the oil price recovered some of the earlier loses, PANR went further and finished well up on the day. though the UT was the bid price.