Pantheon Resources (AIM: PANR) Completes Fracture Stimulation at Dubhe-1 Well

Dubhe-1 Operational Update – Successful Completion of Fracture Stimulation Operations

Pantheon Resources PLC has announced the successful completion of hydraulic fracture stimulation operations at its Dubhe-1 well.

The programme involved 25 individual stages, each approximately 200 feet in length, and was completed over eight days. The Dubhe-1 lateral had previously been drilled to a total measured depth of 15,800 feet, with around 5,200 feet of the wellbore situated within the SMD-B target reservoir.

The company will now move to clean-up and production testing, which will include drilling out plugs, installing 2-7/8 inch production tubing, and connecting the well to a temporary testing system.

Key Points

·      25 hydraulic fracture stimulation stages successfully completed in 8 days

·      Operations are now underway to prepare well for clean-up and production testing

Erich Krumanocker, Chief Development Officer, said: “We are extremely pleased with the success of the operations so far. The team did an excellent job executing this large and intricate operation safely and efficiently. The stimulation was performed as planned, increasing our confidence in achieving the objectives of the forthcoming flow testing programme.”

Further information, please contact:

AGDC

+1 907 717 4978

Frank Richards, President

Tim Fitzpatrick, Communications

Pantheon Resources plc

                +44 20 7484 5361

David Hobbs, Executive Chairman

Jay Cheatham, Chief Executive Officer

Justin Hondris, Director, Finance and Corporate Development


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