Presenters: Jay Cheatham (CEO), Bob Rosenthal (Technical Director), Justin Hondris (Finance Director) & Michael Duncan (COO).
As well as providing a general update, Pantheon’s presentation will focus on the Talitha #A well following the completion of testing operations for the Kuparuk horizon, the deepest of five oil-bearing zones encountered. Pantheon’s pre-drill resource estimate for the Kuparuk horizon alone was 1.4 billion barrels of oil in place with 341 million barrels of recoverable oil.
Pantheon Resources (AIM: PANR) is an oil and gas exploration company with a portfolio of high impact projects located onshore USA, on the Alaska North Slope. Pantheon has a 100% working interest in all its projects, which span approximately 160,000 acres. Pantheon additionally has 3D seismic of covering 1,000 square miles over and around it’s acreage. Over $250m and 10 years of work has been invested in the assets to date.
Pantheon’s projects offer significant advantages over other undeveloped Alaskan oil projects because it is located underneath and adjacent to main transportation infrastructure in Alaska, specifically Trans-Alaska Pipeline (TAPS) and the Dalton Highway.
One of Pantheon’s flagship assets is the Greater Alkaid project, over which an Independent Export Report published in January 2020 confirmed that Greater Alkaid has a Contingent Resource of 76.5 Million Barrels of Recoverable Oil.
In 2021 Pantheon has been drilling and testing the Talitha #A well, which the director believe offers the potential in a success case to unlock over 1 billion barrels of oil on one of Pantheon’s other flagship projects, the Talitha project. The Talitha well encountered five independent horizons, all of which encountered hydrocarbons and all of which warrant testing. The deepest of these five zones, the Kuparuk, is being tested in the Talitha #A well in April 2021. It is intended that the remaining zones will be tested in the 2021/2022 drilling season.
On the North Slope of Alaska, Pantheon holds working interests of 100% in projects spanning 160,000 acres covered by c.1,000 square miles of proprietary 3D seismic. The Company has received Independent Expert Reports certifying a Contingent Resource of 76.5MMBO (million barrels of oil) recoverable on its Greater Alkaid project and 302MMBO Prospective Resource at its Talitha project.
Information contained within this RNS is considered to be inside information prior to its announcement. For further information on Pantheon Resources plc, see the website at www.pantheonresources.com. The information contained within this RNS is considered to be inside information prior to its release. Neither the contents of the Company’s website nor the contents of any website accessible from hyperlinks on the Company’s website (or any other website) incorporated into, or forms part of, this announcement.
