doinit
2 weeks ago
Pantheon Resources (PANR.L PTHRF P3K.F) announced results of the updated Independent Expert Report by Netherland Sewell & Associates, which includes approximately 43,000 acres of the leases on which the Company was the successful bidder in December 2023, located on its 100% owned Kodiak Field on the North Slope of Alaska. NSAI's best estimates of Kodiak's contingent recoverable resources now sum to 1.2 billion barrels of marketable liquids (oil, condensate and natural gas liquids) and 5.4 trillion cubic feet of gas, which will be important as additional support for a proposed agreement with Alaska Gasline Development Corp to bring gas to south-central Alaska markets.
doinit
3 weeks ago
when they perforate a HORIZONTAL WELL, it might be a mile long horizontally and they can perforate all of that they need to.
when they were doing there thing earlier, they only perforated 10 feet. how will that multiply out over a long distance,
up until now, they are working results slower so the funding source can work their profit.
sell in to market, crash the pps then then take a long position and away we go.
I hear info they are taking this into long term production. not establish proven numbers and sell out.
the natural gas supply talks with alaska etc..
doinit
3 weeks ago
FIRST LIGHT Pantheon Resources (PANR) β Corporate β Kodiak Resource Upgrade Market Cap Β£320m Share Price 34.25p Netherland Sewell & Associates (βNSAβ) has increased its best estimate (2C) resource estimate for Pantheonβs Kodiak field by 25% to 1,208 million barrels of recoverable liquids. The company indicated that the best estimate (2C) contingent gas potential at Kodiak amounts to 5.4 tcf of recoverable gas. This is critical in a context where Pantheon is in discussions with Alaska Gasline Development Corp to monetise the gas via a dedicated gas pipeline to southcentral Alaskan markets. The resource upgrades reflect the newly acquired lease areas, which are updip and contain the Kodiak fieldβs best reserves in terms of porosity, permeability and ultimately productivity. The company therefore indicated that it intends to focus its future appraisal efforts on the updip, superior (shallower) acreage. WHI View: For a super-giant oil and gas field under appraisal, Kodiak benefits from exceptionally high quality controlling data, namely, three well penetrations (the most recent of which was a very significant step out well that came in on prognosis) and, critically, 3D seismic coverage that eSeis has calibrated to control the stratigraphic extent of the productive reservoir. The point is that there is a high degree of confidence in the NSA estimates and future appraisal results will have direct read-across to a massive scale resource. Scale matters in our opinion. Specifically, scale attracts funding. Scale also presents Kodiak as a means of providing meaningful growth in the context where US shale oil production in the Lower 48 states is stalling. We believe that given the high quality of the Kodiak resource and the very real potential to optimise developmental wells to fully exploit the relatively high natural permeability and porosity of the field, the company will be focusing on the upside case in terms of what is really at stake β a view that we believe is corroborated by our observation that the main US shale plays considerably overdelivered relative to initial expectations. That focuses attention on the 40% uplift to the upside case (3C) recoverable resource estimate of 2,840 million barrels of liquids and 11.75 tcf of natural gas, provided by NSA. The update is positive and provides unequivocal validation of the resource potential of Pantheonβs 100% held Kodiak field from a globally recognised expert, namely, Netherland Sewell & Associates. We remind investors that we have long-believed that the macro context will be determinant for the fortunes of Pantheon and we see that context changing significantly and positively for Pantheon. We highlight rising oil prices and an increasing appreciation of the potential for oil scarcity into the mid-term and long-term, due mainly to the tiring out of US shale oil production in the Lower 48
WOOFERHEAD
3 weeks ago
If I recall correctly, they were doing a short frac run to see how the Well would respond and although they gave guidance for a higher return they hit that gas bubble.
People are starting to wake up to what $PTHRF has here. Everything is looking up.
https://www.sharecast.com/news/aim-bulletin/pantheon-resources-shares-jump-on-updated-independent-report--16570377.html
The AIM-traded firm said the report, conducted by Netherland Sewell & Associates (NSAI), pertained to around 43,000 acres of leases, including those it had secured in December, situated within its 100%-owned Kodiak Field on Alaska's North Slope.
It said NSAI's assessment revealed Kodiak's contingent recoverable resources, comprising marketable liquids - oil, condensate, and natural gas liquids - to amount to 1.2 billion barrels and 5.4 trillion cubic feet of gas, representing NSAI's best estimates.
The updated figures marked a 25% increase from 963 to 1,208 million barrels in recoverable marketable liquids, compared to NSAI's previous 2023 report.
It said the update incorporated around 43,000 acres of expanded acreage, secured through successful lease bids in December.
Moreover, it reflected a higher average recovery rate due to enhanced reservoir properties in the shallower, updip portion of the field obtained through new leases.
Pantheon said Kodiak, characterised as a large basin floor fan accumulation with three well penetrations, had seen recent drilling activities and acreage acquisitions focusing on accessing better reservoir rocks with improved porosity and permeability.
The potential enhancement in reservoir quality within the newly-acquired acreage supported a significant increase of about 40% in the high estimate of recoverable resources to 2,840 million barrels of marketable liquids and 11.75 trillion cubic feet of natural gas.
It said the 5.4 trillion cubic feet of βbest caseβ recoverable gas served as a crucial factor supporting a proposed agreement with Alaska Gasline Development Corporation (AGDC), aimed at facilitating gas transportation to southcentral Alaska markets.
βThe underpinning of our strategy with the validation provided by NSAI is an important step on the path to our 2028 goal of demonstrating values in the range $5 to $10 per barrel of recoverable resource,β said executive chairman David Hobbs.
βRecent progress towards securing funding, include leveraging our natural gas resources - potentially turning them from a liability to an asset - allows us to move forward with increased confidence.
βI would like to take the opportunity to congratulate Jay and his team on putting the building blocks in place to deliver our ultimate success.β
GLTA
BOPO