The Evil Diaries: “Let’s all be very cheerful”

Having spent an hour or so on Monday filling up with Pantheon (PANR) at 140p, I put the delay in flow rate test RNSs down to the difficulty of gauging just how much was down there. Yesterday morning it transpired that something had probably gone wrong with the “mud”. This is a chemical concoction forced down by the driller to assist gauging the flow. Here it seems to have been allowed to settle unhappily and will need to be corrected/surmounted (ten days?). Failing that there is a problem.

But, being a cheerful fellow with a long long position, I reckon there is no problem. So PANR remains a stonking buy at under 150p. 500p remains a distinct possibility. Let’s all be very cheerful.

*****

Every now and then I regret not having been a scamster – one makes far more money for far less work. Take the strange affair of Invexstar Capital Management, as reported in Monday’s Times. This tiny firm (capital of £630,000) has gone into liquidation with a shortfall of £97m – and some think £250m. Apparently, it had from time to time an outstanding advances/investments book of the order of £2bn (or c. 3,000 times Invexstar’s capital). One day it all went pear-shaped. Well, are you surprised? And just where does one get credit like that?