Substantially Undervalued, O&G Situation in play, page-119

PANR's annual report is out.

The most striking fact I've viewed in it is this

"Our second well will provide us with further evidence and an indication whether or not the same characteristics are also present in the second location we identified as one of up to 167 Eagle Ford Sandstone prospects following an intensive three-year study with the expert assistance of the Bureau of Economic Geology at the University of Texas, Austin."

They are not talking about individual wells, they are talking about individual prospects with multiple well location.

Prospect A in Polk County, where the VOBM#1 well has discovered the West Double A Wells field, is meant to require 37 wells in total.

Potential this is even more game changing information when you consider that these types of wells are going to still be economic at $30 per BO.

There's very few places out there that are profitable at those kind of prices.

LOTM