Business
Alaskan update and notification of CEO Q&A podcast
Alaskan update and notification of CEO Q&A podcast.
About this update from Pantheon Resources Plc
[{"type":"text","content":"\n \nRNS Number : 4836Z Pantheon Resources PLC 20 May 2019 \n\n \n \n \n \n \n20 May 2019\nPantheon Resources plc\n \nAlaskan update and notification of CEO Q&A podcast\n \nPantheon Resources plc (\"Pantheon\" or \"the Company\"), the AIM-quoted oil and gas exploration company with working interests in several conventional project areas in Tyler and Polk Counties, onshore East Texas, and onshore North Slope of Alaska is pleased to advise the following update in relation to the testing of the Alkaid well located on the Alaska North Slope:\n \nAlkaid Discovery Well, Alaska North Slope, Pantheon 100%* Working Interest\nSubsequent to the announcement of Alkaid as a discovery well following the successful production testing operations in the primary zone of interest (the \"ZOI\" or \"Brookian formation\"), the wellbore has been successfully suspended and freeze protected for future production purposes. Data analysis is ongoing. Interpretation to date suggests that the reservoir quality encountered in the ZOI is greatly superior to pre-drill estimates which should have positive implications for possible reserve and production potential at the Alkaid prospect. The result has increased our confidence in the adjoining Phecda structure, as well as in the Talitha prospect. \n \nThe Brookian ZOI is estimated to have 400 ft of gross pay and 240 ft of net pay, of which a 6 ft interval was perforated and stimulated, flowing over 100 bopd of light oil. Future development wells will be drilled horizontally and multi stage fracked, as is typical for the region and would be expected to result in significantly higher flow rates than that of a vertical test well.\n \nThe Company has engaged a third party expert consultancy to conduct petrophysical analysis. The results are due over the forthcoming week and will provide key input into future development planning.\n \nThe process for permitting a pad adjacent to the haul road and pipeline for long term production testing and delineation of the Alkaid discovery is underway. The immediate proximity of Alkaid to such infrastructure is of tremendous benefit to Pantheon, both operationally and financially. \n \nPantheon is also pleased to announce that it has contracted the services of one of the leading expert consulta...