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Receipt of Independent Resource Report - Talitha
Receipt of Independent Resource Report - Talitha.
About this update from Pantheon Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1172A\n Pantheon Resources PLC\n 25 September 2020\n \n \n \n \n \n \n \n \n \n \n 25 September, 2020\n \n \n \n \n \n Pantheon Resources plc\n \n \n Receipt of Independent Resource Report - Talitha (Shelf Margin Deltaic)\n \n \n \n \n \n Pantheon Resources plc (\"Pantheon\" or the \"Company\"), the AIM-quoted oil and gas exploration company with working interests of 89.2% - 100% in certain projects advantageously located adjacent to transportation infrastructure on the Alaskan North Slope is pleased to provide the following update:\n \n \n \n \n \n Resource Confirmation at Talitha (Shelf Margin Deltaic Horizon)\n \n \n \n \n \n Pantheon confirms receipt of an Independent Expert Report and Resource Statement from the International Petroleum Consultants Lee Keeling & Associates, Inc. (\"LKA\") on the Shelf Margin Deltaic (\"SMD\") horizon at its 89.2% owned Talitha Project. The SMD is the shallowest of 3 targeted horizons at Talitha: (i) the SMD, (ii) the Slope Fan System, and (iii) the Kuparuk, all of which are independent of one another and all of which were oil bearing in the nearby Pipeline State #1 discovery well drilled in 1988. \n \n \n \n \n \n The directors are pleased to announce that LKA have confirmed a Prospective Resource of 302 Million Barrels of Recoverable Oil for the SMD horizon at Talitha. \n \n \n \n \n \n Definitions referred to in this announcement for Prospective Resource and Prospective Resource have been prepared under the Society of Petroleum Engineers (\"SPE\") standards. \n \n \n \n \n \n Highlights: \n \n \n \n \n \n ⇨ \n 302 Million Barrels of Oil (\"MMBO\") Prospective Resource (Recoverable)\n \n \n ⇨\n $2.7 billion(1) NPV10 modelled on 91 producing wells, using a long term Brent oil forward curve ranging from $45.84 to $54.89\n \n \n ⇨ \n $8.92 NPV10 per barrel of oil(2) and an Internal Rate of Return of 79.9%\n \n \n ⇨ \n Field peak maximum production rate(2) of 90,000 Barrels of oil per day (\"BOPD\") facility limited\n \n \n ⇨\n Average \n individual producing well EUR (estimated ultimate recovery) of 3.32 MMBO per well(2) for 91 producing wells \n \n \n ⇨ \n The LKA report confirms that Talitha is an Appraisal project updip from discovered oil \n \n \n ⇨ \n Located near...