Pantheon Resources (PANR)

Sector:

Energy Producers

Index:

FTSE AIM 50

26.40p
   
  • Change Today:
    -0.20p
  • 52 Week High: 36.00
  • 52 Week Low: 10.50
  • Currency: UK Pounds
  • Shares Issued: 944.22m
  • Volume: 2,207,359
  • Market Cap: £249.27m
  • RiskGrade: 361

Pantheon secures rig contract for Talitha well

By Josh White

Date: Wednesday 25 Nov 2020

LONDON (ShareCast) - (Sharecast News) - Oil and gas exploration company Pantheon Resources announced the execution of a rig contract with Nordic Calista Services, a wholly-owned subsidiary of Calista Corporation, to drill the Talitha #A well on the Talitha Unit on Wednesday, with operations expected to begin in January.
The AIM-traded firm said the Talitha #A well would target four independent reservoirs in three separate trapping sequences which it estimated had the potential to contain in the region of one billion barrels of recoverable oil, although ongoing work was required to formally delineate the ultimate potential of the lower targets.

It said the Talitha Unit lay adjacent to the Dalton Highway and the Trans-Alaska Pipeline, with the major infrastructure servicing the North Slope of Alaska, offering "significant" financial and operational advantages in the event of a commercial discovery.

The contract secured the use of rig #3 for the upcoming Talitha #A well, which was the same rig which successfully drilled the Winx #1 and Charlie #1 wells for another operator on the Alaska North Slope in the last two winter seasons.

Pantheon described Nordic Calista as a specialist in working in the harsh environmental environment unique to Arctic oilfields.

"We are excited to work with the management team at Nordic Calista for this project," said vice-president of operations and engineering Michael Duncan.

"The rig and the crew have experience with winter drilling in the central region of the North Slope.

"It's an ideal combination of personnel, rig capabilities, regional experience, and geologic opportunity."

Chief executive officer Jay Cheatham said the company's ability to execute the contract quickly after securing funding for the well testified to the commitment of its engineering, operations and legal teams in Alaska.

"We were confident that we will drill this winter largely down to the determination of our operations team."

At 1322 GMT, shares in Pantheon Resources were up 0.05% at 32.52p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

PANR Market Data

Currency UK Pounds
Share Price 26.40p
Change Today -0.20p
% Change -0.75 %
52 Week High 36.00
52 Week Low 10.50
Volume 2,207,359
Shares Issued 944.22m
Market Cap £249.27m
RiskGrade 361

PANR Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
5.17% above the market average5.17% above the market average5.17% above the market average5.17% above the market average5.17% above the market average
50% below the sector average50% below the sector average50% below the sector average50% below the sector average50% below the sector average
Price Trend
38.51% below the market average38.51% below the market average38.51% below the market average38.51% below the market average38.51% below the market average
2.44% below the sector average2.44% below the sector average2.44% below the sector average2.44% below the sector average2.44% below the sector average
Income Not Available
Growth Not Available

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 1
Total 2
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PANR Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
11:56 1,897 @ 26.35p
11:55 1,000 @ 26.40p
11:41 3,000 @ 26.40p
11:36 5,417 @ 26.40p
11:36 353 @ 26.40p

PANR Key Personnel

CEO John Bishop Cheatham

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