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Pantheon Resources ( (GB:PANR) ) has provided an update.
Pantheon Resources announced promising initial results from the Megrez-1 well, indicating a larger hydrocarbon liquid column than previously estimated. This could lead to a potential 15%-50% increase in resource estimates for the Ahpun field. The company plans extensive flow testing in several oil horizons, which could reclassify resources as contingent, enhancing the commercial significance of the well. These developments may bolster Pantheon’s competitive position in the Alaskan oil market and provide significant upside potential for stakeholders.
More about Pantheon Resources
Pantheon Resources plc is an AIM-listed oil and gas company focused on developing the Ahpun and Kodiak fields in Alaska’s North Slope. The company aims to produce oil and gas into the Trans-Alaska Pipeline System and a proposed pipeline to Southcentral Alaska, leveraging its strategic location near existing infrastructure to expedite development and reduce costs. Their portfolio includes substantial oil and natural gas resources, with a goal of demonstrating significant market value by 2028.
YTD Price Performance: 30.12%
Average Trading Volume: 6,489,705
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £445.5M
Find detailed analytics on PANR stock on TipRanks’ Stock Analysis page.
