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Share Price: 36.10

Bid: 36.15

Ask: 36.60

Change: -1.25 (-3.35%)

Spread: 0.45 (1.245%)

Open: 36.40

High: 38.50

Low: 35.85

Prev. Close: 37.35

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IN BRIEF: Pantheon Resources executes contract for Alkaid well spud

Mon, 16th May 2022 19:34

Pantheon Resources PLC - London-based oil and gas company focused on Alaska - Executes contracts for a drill rig to drill the Alkaid-2 well, scheduled to spud in July.

If spudding is successful, Pantheon will start a long term production test and truck and sell the produced oil to a nearby North Slope facility.

The well has several objectives, including the appraisal of the shallower Shelf Margin Deltaic horizon, and the starting of a long-term production test of the Alkaid horizon.

In addition, Pantheon has received plan of operations approval from the state of Alaska on the Alkaid projects.

Current stock price: 132.16 pence

12-month change: up sharply from 30.75p

By Dayo Laniyan; dayolaniyan@alliancenews.com

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