Cold Collations, I'm based in Europe, before all the Performance...

Cold Collations,

I'm based in Europe, before all the Performance rights were issued I was happy being in AXT.

Actually in all honesty at the time I never thought that just 2 well results would move the PANR share price as much, I was hoping for something like £0.80-£0.90. At which point I'd switch to holding both but mainly PANR directly as it makes more sense & eliminates currency exchange rates somewhat & the PR dilution that would eventually occur.

However things are different now, both wells have greatly exceeded expectations.

I wouldn't get caught up worrying about the spinner survey, if I was you. It was only to help them identify where the blockage/blockages was/were nothing more. Even if they have to do a side track of the existing well or drill a brand new one, it won't really matter in the greater scheme of things (they still have the 12,600 ft Wilcox discovery they could test in this well as a back-up anyway).

The VOS#1 location is going to be a 4 mmboe plus EUR well in the Eagleford Sandstone alone.

Kara Farms is going to add significant reserves to those already found at West AA.

So I'm more than happy with what's been found to date (although it might not have been conveyed to the market as well as it could be thus far).

PANR is much more liquid than AXT (which has turned out to be far more illiquid than I thought it would be once it got to 5 cents or more).

Then you have Brendan Jesser, (who was a fairly larger shareholder beforehand) who clearly was an adviser in some way regarding the change of board & performance rights etc back in 2012, getting a wad of them himself & selling them into the market starting from December 2nd to at least 9th January (possibly longer but no RNS as yet).

So I suspect he'll be dumping more as the share price recovers (still had 19.5M as at 12th January), it wouldn't surprise me if he's the one selling at 7 cents currently, which is a lot of shares to churn through, when volume is never that great.

Hence my preference for owning PANR over AXT now.

LOTM