Pantheon Resources PLC Pantheon Resources Alaskan Project Update and Q&A (4487N)
24 Settembre 2019 - 11:00AM
UK Regulatory
TIDMPANR
RNS Number : 4487N
Pantheon Resources PLC
24 September 2019
24 September, 2019
Pantheon Resources plc
Pantheon Resources Alaskan Project Update and Q&A
Pantheon Resources Plc ("Pantheon" or "the Company") confirms it
will be hosting a presentation and Q&A session to investors
10.00am BST this morning at the offices of Bryan Cave Leighton
Paisner (BCLP), Adelaide House, London Bridge, London, EC4R 9HA.
The Company presentation will be made by Bob Rosenthal, Technical
Director & Chief Geologist, and Justin Hondris, Director,
Finance and Corporate Development.
The Company looks forward to discussing with investors the
significant progress made in Alaska since acquiring the Great Bear
assets in January of this year. The presentation will cover,
amongst other topics, the successful testing of the Alkaid well,
confirmed as an oil discovery which increased the combined P50
Technically Recoverable Resource for Alkaid & Phecda from
59mmbo to 90-135mmbo.
The presentation will also discuss the material advancements in
its understanding of the Talitha Appraisal (Brookian) and Talitha
exploration (Kuparuk) projects. In conjunction with the experts at
eSeis, the Company has undertaken a detailed review and analysis of
these projects over recent months. The result of this work has
increased its understanding of the geology which the Directors
believe has the potential to lead to an increase in estimates for
oil in place and recoverable resource at Talitha in due course. At
this stage the analysis is not complete and therefore there can be
no certainty of an increase.
A copy of the presentation will be made available on the Company
website following the event.
Jay Cheatham, CEO, stated:
"I am pleased that Bob Rosenthal, our Technical Director, is in
London for today's Capital Markets Presentation. Bob has a wealth
of experience and a passion for exploration and we look forward to
updating you on the exceptional progress that has transpired over
the last six months.
"While we can't give any specifics about the farm out
discussions due to the commercially sensitive nature, the process
is moving forward and the pace accelerating after the summer
recess. Our work with eSeis has yielded fantastic results so far,
and we believe that going forward the resource numbers previously
disclosed have the potential to move up along with recoveries. We
are also undertaking preliminary work necessary for winter
drilling."
-ENDS-
Further information:
Pantheon Resources plc +44 20 7484 5361
Jay Cheatham, CEO
Justin Hondris, Director, Finance and Corporate
Development
Arden Partners plc (Nominated Adviser and broker) +44 20 7614 5900
Paul Shackleton
Daniel Gee-Summons
Blytheweigh (PR)
Tim Blythe
Julia Tilley +44 20 7138 3204
Notes to Editors
Pantheon Resources plc is an AIM listed Oil & Gas
exploration and production company with assets in East Texas and on
the North Slope of Alaska, onshore USA.
The Group's stated objective is to create material value for its
stakeholders through oil exploration, appraisal and development
activities in high impact, highly prospective assets, in the USA; a
highly established region for energy production with
infrastructure, skilled personnel and low sovereign risk. All
operations are onshore USA, with drilling costs an order of
magnitude below that of offshore wells.
In East Texas, Pantheon holds a 50% to 75% working interest
("WI") in several conventional prospects in Tyler & Polk
Counties, in an area of abundant regional infrastructure, and in
proximity to the prized Double A Wells Field. Pantheon has the
ability for this working interest position to increase to 100%
should the minority partner not be in a position to meet its pro
rata share of future drilling and operating costs.
In Alaska, following its acquisition of the assets of Great Bear
Petroleum in January 2019, Pantheon holds working interests ranging
between 75% and 90% of prospects covered by circa 1,000 square
miles of 3D seismic which have a potential P50 Technically
Recoverable Resources (gross) estimated at over 1.2 billion barrels
of oil.
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) is incorporated into, or forms part of, this
announcement.
In accordance with the AIM Rules - Note for Mining and Oil &
Gas Companies - June 2009, the information contained in this
announcement has been reviewed and signed off by Jay Cheatham, a
qualified Chemical & Petroleum Engineer, who has over 40 years'
relevant experience within the sector.
Cautionary Statement: The estimated quantities of petroleum that
may be potentially recovered by the application of a future
development project relate to undiscovered accumulations. These
estimates have both an associated risk of discovery and a risk of
development. Further exploration, appraisal and evaluation are
required to determine the existence of a significant quantity of
potentially movable hydrocarbons.
Glossary:
Mmbo Million Barrels of Oil Equivalent
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDPGUCCBUPBURC
(END) Dow Jones Newswires
September 24, 2019 05:00 ET (09:00 GMT)
Grafico Azioni Pantheon Resources (LSE:PANR)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Pantheon Resources (LSE:PANR)
Storico
Da Apr 2023 a Apr 2024