Pantheon Resources (PANR)

Sector:

Energy Producers

Index:

FTSE AIM 50

 26.60p
   
  • Change Today:
      0.000p
  • 52 Week High: 36.00
  • 52 Week Low: 10.50
  • Currency: UK Pounds
  • Shares Issued: 944.22m
  • Volume: 3,423,345
  • Market Cap: £251.16m
  • RiskGrade: 361

Canaccord Genuity raises target price on Pantheon Resources

By Iain Gilbert

Date: Monday 25 Apr 2022

LONDON (ShareCast) - (Sharecast News) - Analysts at Canaccord Genuity raised their target price on exploration and production outfit Pantheon Resources from 250.0p to 280.0p on Monday following success at the firm's Theta West asset.

Canaccord Genuity stated that following the successful drilling and testing of the Lower Basin Floor Fan reservoir in Pantheon's recently completed Theta West well and the testing in the previously drilled Talitha well, the company reviewed and then "significantly increased" its resource estimates for that primary target reservoir.

The Canadian bank noted that Pantheon now estimates total oil in place for the LBFF of 17.8bn barrels and has now increased its estimate of recoverable resources to 1.78bn barrels - an uplift of 48% on previous estimates. In addition, management provided a first estimate of 2.2bn barrel OIP in the Slope Fan System following successful testing at Talitha.

"The LBFF estimate is a significant uplift over the previous assessment, and that follows the incorporation of the new well and test data into the interpretation of the extensive high-quality 3D seismic dataset, which covers most of the company's acreage," said Canaccord, which reiterated its 'speculative buy' rating on the stock.

"We see this as an important step forward in providing increased confidence in terms of the scale of the commercial potential of Pantheon's Alaskan licences, which in turn should further raise the wider industry profile of these assets, particularly considering the current macro conditions."

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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 26.60p
Change Today 0.000p
% Change 0.00 %
52 Week High 36.00
52 Week Low 10.50
Volume 3,423,345
Shares Issued 944.22m
Market Cap £251.16m
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
17:08 100,000 @ 26.60p
16:35 45,442 @ 26.60p
16:35 1 @ 26.60p
16:35 3,330 @ 26.60p
16:35 134 @ 26.60p

PANR Key Personnel

CEO John Bishop Cheatham

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