Pantheon Resources PLC - oil and gas company focused on developing the Ahpun and Kodiak fields, onshore US - On Thursday, says Netherland, Sewell & Associates has begun preparing a report on the Alkaid horizon at the Ahpun project. This is expected to be completed in the final quarter of 2023 or the first quarter of 2024. A report on the Shelf Margin Deltaic horizon will follow. Notes that GeoMark and SLB have completed their analysis of the reservoir fluid composition in the Alkaid-2 location. Says it suggests that approximately one third of the hydrocarbon pore space contains free gas, while two-thirds contains liquids with dissolved gas. Adds SLB has now begun full field planning studies at Ahpun and expects to complete this during the second quarter of 2024. Additionally, company expects mobilization of the All-American Oil Rig 111 during the last week of September for the Alkaid-2 SMD test.
Current stock price: 27.70 pence
12-month change: down 76%
By Heather Rydings, Alliance News senior economics reporter
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Pantheon Resources plc (PANR)