03:35 Tue 01 Sep 2020
Pantheon Resources - Alkaid Production Unit & Operational Update
Alkaid Production Unit & Operational Update
Alkaid Project Production Unit
Our
Application for Production Unit -
Pantheon has also entered the unitisation application process with the
Talitha - Resource Upgrade (Kuparuk)
Pantheon is pleased to announce that work is nearing completion for the determination of a resource estimate for the Kuparuk horizon at the 89.2% owned Talitha project. It is anticipated that this work will be finalised and announced to the market over the next 2-3 weeks. In conjunction with this announcement, the management team will be hosting a live webinar available to all shareholders and interested parties. Details of the webinar will be announced in due course.
This follows the Company's resource estimate at the shallower and independent 'Shelf Margin Deltaic' (Brookian) interval in the Talitha project earlier this year, which Pantheon estimated to contain 1.8 billion barrels of oil in place (BOIP) and a P50 Technically Recoverable Resource of 483 million barrels of oil (MMBO).
Further significant potential exists in another interval at Talitha, the 'Slope Fan System', which is also a Brookian aged reservoir. The Company will provide a resource estimate for the Slope Fan System once completed.
Farmout update
Pantheon confirms that it is actively engaged with multiple parties who are presently undertaking analysis of the farmout opportunity. Such parties range from National Oil Companies to smaller specialist operators, and accordingly farmout discussions have ranged over the entire Alaskan portfolio to smaller singular projects. Pantheon confirms that its objective is to be drilling in
"I am incredibly pleased that the
"Despite the obvious disruptions of COVID on the farmout process, we are extremely pleased that discussions are active with multiple parties. Drilling this coming winter is our objective, and this remains an achievable target if we can conclude a farmout by the end of autumn."
"The potential size and scale of our Alaskan projects, coupled with a modelled breakeven price lower than most fields in the world make this a unique and compelling opportunity for potential farminees. To our knowledge there is no other project with similar characteristics available in the world today. For many years in the
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+44 20 7484 5361 |
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Arden Partners plc (Nominated Adviser and broker) |
+44 20 7614 5900 |
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Blytheweigh |
+44 20 7138 3204 |
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