{"id":124659,"title":"Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) drilling rig is en route to commence a key appraisal wel","publisher":"Share Talk","author":"sharetalk","published":"2025-07-10T07:17:21+00:00","modified":"2025-07-10T07:17:21+00:00","canonical_url":"https://www.share-talk.com/pantheon-resources-plc-aimpanr-otcqxpthrf-drilling-rig-is-en-route-to-commence-a-key-appraisal-wel/","markdown_url":"https://www.share-talk.com/pantheon-resources-plc-aimpanr-otcqxpthrf-drilling-rig-is-en-route-to-commence-a-key-appraisal-wel.md","json_url":"https://www.share-talk.com/pantheon-resources-plc-aimpanr-otcqxpthrf-drilling-rig-is-en-route-to-commence-a-key-appraisal-wel.json","category":"Energy","categories":["Energy"],"tags":["Alaska","barrels","Bob Rosenthal","Dalton Highway","Exploration","gas","Jay Cheatham","Jay Cheatham (CEO)","Justin Hondris (Finance Director)","Kuparuk horizon","Michael Duncan (COO)","oil","oil-bearing","PANR","Pantheon Resources","Share Talk","Talitha","Trans-Alaska Pipeline"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/10/PANR-19_10_23.jpg?fit=1200%2C800&quality=89&ssl=1","format":"news","language":"en-GB","content":"**Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF),** the oil and gas explorer focused on Alaska’s North Slope, has confirmed the mobilisation of its drilling rig as it prepares to spud a pivotal appraisal well.\n\nThe Nabors 105AC rig is now en route to the Dubhe-1 well pad, targeting the Ahpun Topset — a key reservoir zone identified in a June 2024 independent resource report. That report estimated the zone to contain 282 million barrels of oil and 804 billion cubic feet of natural gas, categorised as 2C contingent resources — the best estimate of recoverable volumes, though not yet proven.\n\nDubhe-1 will test the main reservoir horizon while also assessing deeper or shallower formations that could hold additional hydrocarbons. Pantheon is considering a lateral completion and extended flow test to evaluate long-term production rates for both oil and pipeline-quality gas.\n\n**Dubhe-1: Objectives**\n\n·      Progress the Ahpun Topset development (CG&A estimate (10 June 2024) of 282 mmbbls 2C liquid resources and NPV10 $1.7 billion (at $80 oil))(1)\n\n·      Assess the main topset reservoir horizon (SMD-B) in order to plan optimum production laterals \n\n·      Penetrate additional potential pay zones (Lower Prince Creek, SMD-C and a Slope Fan)\n\nOil remains the primary value driver for the project, but Pantheon sees potential upside from associated gas, which could feed into the Alaska LNG Phase 1 project, enhancing its financing strategy.\n\nThe company expects drilling results to be a key catalyst over the coming months. A thicker-than-expected reservoir could expand the drilling footprint, and the well will also explore additional zones that were not previously included in resource estimates — potentially boosting the project’s overall scale."}