Substantially Undervalued, O&G Situation in play, page-128

Hi LOTM,

Yes the announcement last night highlights a potential discovery. Those on other forums expecting huge SP rises on the back of the target depth and logs announcement are putting the cart before the horse IMO.

The flow test is the big ticket item. It will confirm whether the find is commercial or not. Exciting weeks ahead.

AXT should trade strongly today on the back of PANR's 12% gain. See through values can be tricky though.

Matt747, did you end up taking a position with AXT or PANR? Results so far have been very rewarding for holders, even in an overall poor overall O&G environment.

The key for AXT/PANR is that we will be looking to cash at selling the resource for an in ground value (could be $20-$25 per barrel), so oil price permutations right now aren't the be all and end all.

Cheers!