$pthrf
I note the increasingly desperate Josh Young has today published an article on $panr on Seeking Alpha. In it, he attempts to derive a fair valuation for #panr by using the price bid per acre in the recent State of Alaska North Slope lease auction and applying...1/
I note the increasingly desperate Josh Young has today published an article on $panr on Seeking Alpha. In it, he attempts to derive a fair valuation for #panr by using the price bid per acre in the recent State of Alaska North Slope lease auction and applying...1/
...that figure to $panr's total acreage. Deary me, this is facile stuff from Josh, genuinely immature if I'm being blunt. Perhaps Josh is getting grief from MW, Mangrove et al for bouncing them into a non-researched short?!
Here's the thing, if we apply Josh's logic to..2/
#panr
Here's the thing, if we apply Josh's logic to..2/
#panr
...the dollar amounts bid per acre by Hilcorp (the operator of Prudhoe Bay) on blocks directly adjacent to Prudhoe Bay, Josh would have us value PB's 213,543 acres at a massive $6.04m!!! Yes, that's $6.04m for PB using Josh Young's infantile rationale. 3/
$panr #panr $pthrf
$panr #panr $pthrf
As a fund manager in the O&G space, he ought to be well aware of the industry standard E&P valuation model using a risked/unrisked NPV per share. This technique has been used for decades across the globe in order to provide consistent analysis and...4/
$panr #panr $pthrf
$panr #panr $pthrf
...comparative value assessment of disparate projects seeking to produce what is, after all, a universal commodity. Despite being challenged repeatedly, Josh Young has refused to construct his own risked/unrisked model, nor to debate the models published...5/
$panr #panr $pthrf
$panr #panr $pthrf
...by the covering broking firms.
Shareholders are well aware of the tight nature of the reservoirs. The major "known unknown" is the degree of lateral continuity present and whether it will be sufficient to deliver commerciality. If, and I repeat if, commerciality...6/
$panr
Shareholders are well aware of the tight nature of the reservoirs. The major "known unknown" is the degree of lateral continuity present and whether it will be sufficient to deliver commerciality. If, and I repeat if, commerciality...6/
$panr
...is proven then Pantheon will have discovered the second or third largest onshore conventional oilfield in US history. It is that upside risk which commentators such as Josh Young refuse to contemplate, never mind acknowledge.
For context, the various brokers'...7/
#panr $panr
For context, the various brokers'...7/
#panr $panr
...risked models all point to an NPV per share at or above 200p. The unrisked NPVs range from 800p to 1400p. I urge followers of Josh Young to challenge him on his refusal to construct a risked/unrisked model for Pantheon. I forecast he'll block you immediately. /end
#panr $panr
#panr $panr
PS1/
Aaaaandddd blocked! Exactly as forecast. PMSL
Aaaaandddd blocked! Exactly as forecast. PMSL
https://twitter.com/Scot126126/status/1599814362448830465?s=20&t=1fD8tE5Yun52dbgZlzSoFA
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