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  1. #1311
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    Big volume today, seems someone wanted in and were willing to pay ...
    Time is a great teacher, but unfortunately it kills all its pupils

  2. #1312
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    Quote Originally Posted by boysy View Post
    Big volume today, seems someone wanted in and were willing to pay ...
    Yes, seems a bit strange considering there is no news from the Talitha well in Alaska. Definitely speeding ticket material- please explain blah.blah.blah.
    Insider trading. Never!

  3. #1313
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    Market ReleaseApr 8, 2021 OTTO ENERGY LIMITEDSecurity Code: OELPause in TradingTrading in the securities of the entity will be temporarily paused pending a further announcement.

    Well we will soon be enlightened

  4. #1314
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    Otto Energy Limited (ASX :OE L) (the Company) requests its securities are placed in a trading halt with immediate effect on 8April2021 pending a response to a Price and Volume Query received from ASX.

    Speeding ticket so it will be interesting to see what lame reason the company comes up with. Should take them until Monday to think up something
    that couldt be interpreted as credible.

  5. #1315
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    Quote Originally Posted by Rabbi View Post
    Otto Energy Limited (ASX :OE L) (the Company) requests its securities are placed in a trading halt with immediate effect on 8April2021 pending a response to a Price and Volume Query received from ASX.

    Speeding ticket so it will be interesting to see what lame reason the company comes up with. Should take them until Monday to think up something
    that couldt be interpreted as credible.
    Lets see what PANR release tonight, it looked like it was ready to run a fair bit further - only have to look at 88E to see what reddit craze can do when they have drilled what appears to be a very average well ....
    Time is a great teacher, but unfortunately it kills all its pupils

  6. #1316
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    Last release was Tuesday 06/04

    Jay Cheatham, CEO of Pantheon Resources, said:"Flow testing at Kuparuk to date is further encouraging news for Pantheon - a case of 'so far, so good'. Now that we have finally beguntesting, the weather won't have as severe an impact. We are flaring gas as the well cleans up and we would then expect oil to follow. As hasbeen well documented, we have had operational difficulties drilling the Kuparuk in this well, but future well design should ensure theseissues aren't repeated. However, we had to persevere; it was simply too good a target."If successful, the Kuparuk would be of enormous value to Pantheon considering its location adjoining the Trans Alaska Pipeline and DaltonHighway. Our pre-drill resource estimate for the Kuparuk horizon alone was 1.4 billion barrels of oil in place with 341 million barrels ofrecoverable oil. We will leave the wellbore in perfect condition to come back next winter and test the shallower four zones, all of whichencountered hydrocarbons.The next testing operation will not require any drilling and can be tested using a low cost work over rig.""Despite this encouraging news, as always I caution shareholders that we must wait for completion of testing before we can draw anydefinitive conclusions about the well. Until then, we remain cautiously optimistic."

    Alot of oil in place so we see how she flows.in one zone and flow test the rest next season..

  7. #1317
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    Bring on the outcome of the Kuparuk flow testing - likely a binary outcome through you would imagine with the flow testing well over a week and a half they would know if it was a dud early ...... PANR webinar scheduled for Tuesday afternoon UK time (Wednesday morning NZ time) we should know more.
    Time is a great teacher, but unfortunately it kills all its pupils

  8. #1318
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    19 April, 2021
    Pantheon Resources plc

    Operational update, Talitha #A well


    Pantheon Resources plc ("Pantheon" or the "Company"), the AIM-quoted oil and gas exploration Company with a 100% working interest in projects spanning c.160,000 acres covered by 3D seismic and advantageously located adjacent to transportation and pipeline infrastructure on the Alaska North Slope, provides the following update following the conclusion of operations at the Talitha #A well:
    Talitha #A well - conclusion of operations and overview
    Operations at the Talitha #A well have concluded with the well suspended for future testing operations. The well encountered five stacked, independent oil-bearing reservoir zones over a 3700 ft interval which management believes has validated its earlier assertion of over 1 billion barrels recoverable oil potential from this multi-billion barrel oil in place play at Talitha. Testing of the deepest of these zones, the Kuparuk formation, which flowed high-quality light oil intermittently at rates up to 100 BOPD, a disappointing rate, encountered a number of operational issues. The Kuparuk horizon at this location was overpressured which was both unexpected and unlike any known Kuparuk well regionally, which caused challenges in testing. The four normally pressured shallower zones, all of which encountered light oil and offer excellent potential based upon analysis to date, will be tested in a future program.

    The Company collected an enormous amount of drilling, logging and testing data which will be evaluated. Additionally, Pantheon has engaged the experts at Baker Hughes and Advanced Hydrocarbon Stratigraphy ("AHS") to provide Volatile Analysis Service ("VAS"), a comprehensive, sophisticated and independent evaluation of hydrocarbon presence in the well bore, using mass spectrometry analysis of well cuttings. Pantheon also used conventional data collection techniques including 'Logging While Drilling', mud logging, side wall cores and an entire suite of wireline logs. Baker Hughes AHS identified five independent highly prospective zones with high oil saturations and low or moderate water saturations. These correlate directly to Pantheon's five target zones.

    Comprehensive analysis of the VAS and wireline data from these zones over the forthcoming months will enable the Company to fully optimize its testing program for next season, as well as enabling lengthier flow tests.

    Update on testing of the Kuparuk horizon

    The Kuparuk proved more geologically complex than expected. The well encountered ± 60 ft of well-developed sand with high resistivity readings, indicating the presence of hydrocarbons, independently confirmed by VAS. Talitha #A demonstrated the key elements of a proven hydrocarbon system in the Kuparuk formation with the presence of movable high-quality (± 42° API) oil, however during testing the well-produced oil intermittently along with solution gas, with formation water fresher than anticipated. These flow rates were not consistent with our expectation based on Talitha logs compared to nearby Kuparuk field production.

    A comprehensive analysis of the Kuparuk, supported by third party experts, has already commenced to gain a greater understanding of the atypical reservoir characteristics encountered. Based upon analysis to date, the Kuparuk very much remains a viable target on the Company's acreage. Early analysis suggests that the Kuparuk horizon at this location might respond better to different drilling fluids and techniques, however ultimate recoveries may be lower than originally estimated. This work is just starting, and a formal conclusion will be reported when completed.

    Well Strategy

    The Talitha #A well location was selected as the optimal location for the shallower Shelf Margin Deltaic horizon, the primary target of the well. The Kuparuk at this location is some 800 ft downdip from its ideal 'updip' position and was a secondary target.

    Our technical team prioritised testing the Kuparuk formation and ultimately recommended deferring plans to test the shallower horizon during this drilling season because the well logs of the Kuparuk indicated much better developed reservoir than at Pipeline State #1, comparable to those in highly productive nearby Kuparuk fields. Based upon the well logs (and regional comparatives), the associated disappointing flow rates, were a surprise.

    "So that zone did not flow and the other zones are on the back burner until next season and we are left hanging, although they were positive about the other zones.Both Pantheon and Otto share prices
    trashed immediately which only goes to show the impatience and short term focus of most investors."
    Last edited by Rabbi; 20-04-2021 at 01:00 PM.

  9. #1319
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    Good buying opportunity for those who like a punt but they have to find more oil and well, finding oil is expensive and they really
    don't have the money. New CEO seems to favour consolidation and keeping onside with the bankers. Big positive is the price of oil
    which hit Brent $67 overnight.
    What they can't have is another capital raise because they have run out of this option far too many shares on issue now.
    Somewhere along the line got too grandiose and ambitious. I note with some horror and dismay that Buru energy is having a cash issue.
    They have grandiose plans in the Canning basin but that is another story and another thread.

  10. #1320
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    OEL starting to tick upwards but still plenty of room to run .... based on near term production it could have its current MC in cash alone within 12 months. on a EV basis alone looking very cheap based on any key metric
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    Time is a great teacher, but unfortunately it kills all its pupils

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