RE: News is out....so far so good.....and Theta West :)15 Feb 2021 07:46
Excellent summary from marto1000 on ADVFN.
marto1000 15 Feb '21 - 07:20 - 6452 of 6459
This is very exciting development for Pantheon and comments
• Discovering oil in five formations is as good as it gets – a huge result for Pantheon!
• Big testing program over many weeks to test four of these zones will be exciting.
• Talitha A is not positioned for optimal test on these zones – it was designed to intersect as many targets as possible and see which ones were oil bearing - this delivers the max resource number.
• The Talitha area is effectively five oilfields – each very large and sitting on top of each other - major development advantages.
• This oil is stratigraphically trapped on the migration pathway from south (underexplored) to north where the existing major oilfields ie Kuparuk, Prudhoe Bay, Alpine etc are located.
• Great Bear/Pantheon shot the seismic surveys to delineate the exploration potential which is why they have made these discoveries as seismic data is proprietary to them.
• The Talitha location is perfect for development, as it is not federal land and part of the petroleum infrastructure system, only miles from pipeline and highway - high NPV oil with min interference.
• The results in the Basin Floor Fans (BFF’s) and the Kuparuk are particularly exciting.
• BFF’s appear much bigger than had been expected, and this was the big play Pantheon were chasing but could not discuss the play because of the leasing strategy – it can now and as a result will attract considerable international interest.
• BFF’s are effectively Theta West and Pantheon now own all of it post recent strategic moves.
• The Kuparuk result is also much better than had been expected and is potentially very large. This is a huge regional producer to the north and looks like PANR have extended this to the south which has major exploration ramifications for the region. Alaska Govt will be happy!!
• Future drilling on both Kuparuk and BBF’s will be updip (low risk) with big upside.
• Resource potential – Jay says the results so far have met or exceeded expectations and has previously been stated - the company’s expectations were for a billion bbls of recoverable oil. Do the numbers!
• As always with mother nature, there are no certainties – these zones need to be tested and prove commerciality hence the company and investors should maintain a cautious view until this happens..but its all to play for - huge!
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