Pantheon Resources PLC - London-based oil and has company focused on Alaska - Completed flow testing operations on at Talitha A on Monday. The company perforated two separate five foot intervals at 8,160 to 8,165 feet and 7,855 to 7,860 feet. The two intervals were stimulated and flow tested together, producing 35 to 38 degree American Petroleum Institute oil and averaging 45 barrels of oil per day over a three day test period.
The company says it is "greatly encouraged" by these results and will provide an estimate of resource and recoverable oil in "due course", once analysis is completed.
Current stock price: 133.80 pence
12-month change: up sharply from 41.10p
By Heather Rydings; heatherrydings@alliancenews.com
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Pantheon Resources plc (PANR)