Pantheon Resources (LSE:PANR) reported a successful outcome from the Dubhe-1 appraisal well lateral, surpassing pre-drill expectations. The well reached a total measured depth of 15,800 ft, with 5,200 ft within the SMD-B target reservoir. Following this success, the company updated its best estimate for marketable liquids in the Ahpun area to 589 million barrels—a 63% increase over prior estimates. Pantheon is now preparing for hydraulic stimulation and flow testing to collect production data, which will inform development plans and assess the potential commercial viability of the resources.
While the company faces operational and financial challenges, including negative profitability and cash flow, strategic initiatives and recent corporate developments offer potential upside, contributing to a cautiously positive outlook.
About Pantheon Resources
Pantheon Resources plc is an AIM-listed oil and gas company focused on developing the Kodiak and Ahpun oil fields on Alaska’s North Slope. The company’s assets are strategically located near pipeline and transportation infrastructure, supporting efficient field development and resource extraction.
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