Hi all, The PANR share price strength after the CR at 115p has...

Hi all,

The PANR share price strength after the CR at 115p has been very, very good to see.

cold collations, just needed that little bit of patience. As mentioned earlier, there is nothing wrong with the story here.

The news flow over the next 8 months should keep PANR in the forefront of everyone's minds.

As an aside, US oil production continues to fall. I usually keep an eye on the link below which reports US weekly production;

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRFPUS2&f=W

The effects of this new downward trend developing re US oil production are two-fold.

Firstly, US oil production falls in itself will help give support to oil prices. Any increases in production via Iran are hopefully more than offset by falls in the US.

Secondly, it's showing that the Saudi strategy may be having it's desired effect.

I don't believe there will be any meaningful cooperation between OPEC and Russia re production until sufficient US production exists the market. We could be starting to see that US production now leaving the market.

From a macro perspective, the pendulum may be beginning to turn for oil markets.

All of that CAPEX which has been slashed (+ drill rig counts plummeting) is going to have an effect on ability to ramp up future production, hopefully just when PANR is looking to exit it's plays.

Cheers!