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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Pantheon Resources Plc | LSE:PANR | London | Ordinary Share | GB00B125SX82 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 26.60 | 26.72 | 26.98 | 27.20 | 25.50 | 25.50 | 4,153,545 | 16:35:21 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Natural Gas Liquids | 804k | -1.45M | -0.0016 | -167.00 | 242.41M |
TIDMPANR
RNS Number : 0726S
Pantheon Resources PLC
16 December 2016
16 December, 2016
Pantheon Resources plc
AGM Statement
Pantheon Resources plc ("Pantheon" or the "Company"), the AIM-quoted oil and gas exploration and development company with a working interest (of 50% - 58%) in several conventional projects located in Tyler & Polk Counties, onshore East Texas, will hold its Annual General Meeting ("AGM") this morning at 10.00am at the offices of FTI Consulting at 200 Aldersgate Street, London, EC1A 4HD.
At the AGM Jay Cheatham, CEO, will give a presentation and operational update on the Company, which will include the following information:
VOBM#3
Following the Operational Update on the 29 November 2016, management and the operator are pleased to confirm that VOBM#3 is considered to be a commercial well. Initial production during flow testing ranged from 274 to 740 boepd. The well has been shut in temporarily, and will be flowed directly into the processing facility and pipeline. This will enable the working interest partners to evaluate the well performance while benefiting from selling the produced hydrocarbons alongside production from the VOBM#1 well and the pending VOBM#2 sidetrack, if successful.
VOBM#4
Casing has been set at c.14,300 feet and drilling continues below that depth. Drilling is expected to be completed in the new year and a further update will be given once drilling is complete.
Gas Processing
The Company continues to progress discussions on selecting the most appropriate gas processing strategy. As previously disclosed the Company is exploring three options:
-- Tie into existing infrastructure and nearby gas plants; -- Build its own skid mounted processing unit; or
-- Contract a third party to build and operate a processing facility on its acreage, under a take or pay agreement.
Discussions are ongoing around which option to pursue and an update will be provided as and when a decision is made, with first production targeted for Spring 2017.
A copy of the AGM presentation will be posted to the company's website at www.pantheonresources.com
Further information:
+44 20 7484 Pantheon Resources plc 5361 Jay Cheatham, CEO Justin Hondris, Director, Finance and Corporate Development Stifel Nicolaus Europe Limited (Nominated +44 20 7710 Adviser and broker) 7600 Callum Stewart Ashton Clanfield Nicholas Rhodes +44 20 3727 FTI Consulting 1000 Ed Westropp James Styles
For further information on Pantheon Resources plc, see the website at: www.pantheonresources.com
The information contained within this RNS is considered to be inside information prior to its release.
Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGMUNSKRNBAUARA
(END) Dow Jones Newswires
December 16, 2016 04:49 ET (09:49 GMT)
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