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Operational update: Winx-1 and Alkaid wells
Operational update: Winx-1 and Alkaid wells.
About this update from Pantheon Resources Plc
[{"type":"text","content":"\n \nRNS Number : 9960R Pantheon Resources PLC 06 March 2019 \n\n \n \n \n \n \n06 March, 2019\n \nPantheon Resources plc\n \nOperational update: Winx-1 and Alkaid wells, Alaska\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, as well as onshore North Slope of Alaska following its January 2019 acquisition of the assets of Great Bear Petroleum, is pleased to report the following update:\n \n \nWinx-1 Exploration Well, Alaska, PANR 10% working interest + 10% back-in right\n \n· Total Depth of 6,800' reached on 3rd March, all pre-drill targets successfully intersected\n· Multiple potential pay zones identified, including in primary target zone (Nanushuk topsets)\n· Wireline logging program underway to confirm prospectivity ahead of possible production testing\n \nThe Winx-1 exploration well intersected all the of the pre-drill targets safely and efficiently. Total Depth of 6,800' was reached on the 3rd March 2019, with multiple potential pay zones identified in the Nanushuk Formation Topset Play (primary targets) and Torok Formation (secondary targets).\n \nA comprehensive wireline logging program has now commenced to verify the prospectivity of the zones of interest. This program, including first pass interpretation, is expected to take ~10 days to complete. Based on the results of the interpretation, a decision will be made on whether to proceed with production testing of the most prospective zone within the Nanushuk Formation.\n \n \n \nAlkaid well, Alaska, Commencement of testing operations, PANR 100% working interest\n \nConstruction of the ice road to the Alkaid well pad has been completed and the All American Oilfield Rig 111 has been mobilized to location in preparation for well re-entry and testing. The State of Alaska has issued all permits necessary for operations. Flow testing operations are planned to commence imminently and the Company will update shareholders at the conclusion of testing operations.\n \nThe Alkaid exploration well was drilled as a vertical test well in 2015 however was ...