Pantheon Resources PLC - oil and gas company focused on developing the Ahpun and Kodiak onshore oil fields in Alaska - Via rig contract, secures use of Nabors 105AC rig to drill Megrez-1 well in Ahpun. Pantheon is familiar with rig as has used it for prior drilling. Drilling expected to begin in September subsequent to construction of gravel pad along west side of Dalton Highway. Well estimated to have a 69% geological chance of success. Drilling to target topset sands in Ahpun East project area which is estimated to hold 609 million barrels of marketable liquids and 3.3 trillion cubic feet of natural gas. Notes Ahpun East topsets are significantly shallower than topsets at Ahpun West.
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