Considering news is around 6 weeks away the current situation is Pantheon will have spent maybe $15m Increased percentage interest in Polk wells Market cap has fallen by circa £110m Gas price risen form $1.71 to $3.09 Oil Price risen from $38 to $49 Currency £ v US dollar $1.42 down to $1.24 positive for increase in value. Fascinating to consider the increase in underlying value based on Oil price, Gas price and exchange rates. Tyler Frac increased production less than expected but still increased production and still a commercial well Polk Horizontal well did not work we still end up with a side tracked vertical which is highly likely to be a decent well Tyler Centre basin did not reach target depth because we found two potentially significant zones the Wilcox and Navarro. Wilcox potentially testing now which may result in a commercial well and possibly a new field discovery with Navarro as another something for another day. Frustrating year yes wasted year definitely not. The year ahead will hopefully include the following:- Wilcox discovery Polk County and Tyler County hook up to production Increased production from Tyler and Polk from further development wells Tyler Centre Basin test Navarro test and discovery Additional zones still to find these certainly look to be stacked plays
AXT Price at posting:
3.2¢ Sentiment: Hold Disclosure: Held