Thread by @contrarian8888

Few weeks ago I completed selling 90% of my $AR (& all my $oxy( & moved 1/2 to $btu (at sub $3 & $7.2) & the other to an unnamed energy stock.Ive been asked incessantly what the name of that security is.Before revealing it, I’d like to make some housekeeping items out of the way

As mentioned in my pinned tweet, nothing i say should be construed as investment advice. Do your own due diligence & seek a financial advisor if the investment is for you. Secondly, given the recent string of successes & the likely mean reversion in my track record, shorting

This name may be the better outcome. With that being said, although for long time followers, they may say i had mentioned this before, i never owned more than an extremely tiny allocation and post my $ar sales i have super sized it such that i allocated 2x what i allocated to

$btu at the lows in March. I think this could be a multi bagger- along the likes of $ar in spring of last year (which gave me close to a 10x return). This name could be even larger. But its not without risk so if you are going to invest, size accordingly. There is not a 0 chance

This could be a 0 too. However I’m willing to take the risk given my extremely positive outlook for oil given the extreme underinvestment and where i think oil prices will have to get to. Finally $PANR massive u/p vs $OXY esp given drill results has convinced me to MACSIZE IT now

Thesis to buy Pantheon Resources ($PANR LN, $PTHRF) I think buying panr could be a very large multibagger which has been misunderstood due to a combination of 1. Largest insider selling (Farallon) due to historical relationship with great bear (the company merged into PANR)

whereby the creditfund is just selling equity to repay the debt.  2. Misunderstood retail sentiment from recent drill results.
Website of Pantheon Resources which has all the info : USA Oil and Gas Exploration > Pantheon Resources Plc > Home<pantheonresources.com>

Summary : 700 million fully diluted shares at 50pence/share = USD $480 million market cap. ( zero debt). They are a Alaska North Slope Oil Exploration company. They have 160,000 acres of land. The wells are very close to the Dalton highway and the TAPs pipeline, so its right next

to critical infrastructure. Also attached is a snapshot of all the resources , the Oil in Place and recoverable barrels. The numbers are incredibly big (20 billion barrels OIP, 2.7 billion barrels recoverable, 35 API oil ). Also important to note that the

ownership of these fields is 100%. dropbox.com/s/1wh89h60xfyq…

Step 1:

First well Alkaid they drilled and flow tested March 2019 and it was a successful well. Independent Expert Report from Lee Keeling & Associates was provided in Jan 2020, which says 76 million barrels recoverable resource, NPV10 $600million at $55 oil price, $8.50 NPV10

per barrel, peak flow 30K Barrels per day; The Oil In Place is 900 million barrels, so 76 million barrels recoverable oil is very conservative. press release link :

polaris.brighterir.com/public/pantheo…

Webinar posted in Mar 2020 discussing Alkaid and the future prospects of Alkaid



Step 2:

Webinar link  April 19th 2021 (discussed the results from the Talitha well drilling that was done during the winter and concluding in April/may 2021)

This is a one and half hour webinar

Press release in which they discuss the Talitha drilling :

polaris.brighterir.com/public/pantheo…

The Baker Hughes report

file (pantheonresources.com)<pantheonresources.com/investors/shar…>

Step 3 : The Game Changer

The 12 billion barrel (oil in place) well is Theta West which is referenced as one of the 5 zones drilled in Talitha. The zone that is reference is called the Basin Floor Fan zone which is then been renamed to Theta West.

The 12 billion barrel well was announced on May 17th.  The link below is a short interview discussing the results. The recoverable oil is estimated at 1.4 billion barrels and classified as Contingent Resource.

The press release discussing Theta west

polaris.brighterir.com/public/pantheo…

in analyzing the resource value table there are a couple of modifications; dropbox.com/s/8mrpuvnz0ydu…

 1.  Since the nav table came out, the Talitha kapurak value is now a question mark given low flow test-

however this value is more than offset by the much larger resource at
 2.  Tetha west which has seen OIP from 11b to 14b and net best resource (MMBO) from 1.2b to 1.4b

In addition, oil search paid 5$ a barrel for pikka a few years ago despite it being far away from

the infrastructure which tells you what
The potential value of all this could be. Just out of context despite proving up tetha west with a huge resource stock has gone up ten % from 45p to 50p since oct last year (same time OXY has 3x).  The Dropbox (dropbox.com/s/mta7senpmx7h… )

has a good discussion of the history of PANR (up to April prior to this most recent test) as well as some of the other players in the area. Also as i tweeted the variant perception chart day before, this is the time to be long OIL RESERVES. PANR has oodles of it.

The final reason the stock has underperformed has been Farallon selling- with the latest sale of tax credits by 88E there is speculation that Farallon may stop selling which is why the stock has run up so aggressively in the past few weeks. Either way, with this

Humongous resource with billions of barrels of oil, sub $500m mkt cap,close to infrastructure, and in politically safe climate, & with my view on where oil is going, i could see this going to 5-10 pounds/share . Not without risk but this is why i sized it 2x my original btu posn

(given the massive run up in btu, btu is still much bigger
& I haven’t sold a share in $pdn, $age $Btu $am etc to fund it. After all i see btu going to 30, and I’m super bullish uranium given Sprott launch & d/s gap. It’s all come from $AR & $OXY. By the way if you are going

to buy the otc adr its super thin & be wary of the premium youre paying - best liquidity is in the UK PANR line- i trade it with IBKR. Thanks