Pantheon Resources Wraps Up Megrez-1 Testing, Redirects Efforts to Ahpun and Kodiak Fields

PUBLISHED: 21 May 2025 @ 09:28 | Comments (0) | More info about Fiona Craig

Pantheon Resources (LSE:PANR) has completed flow testing at its Megrez-1 well, which, despite favorable reservoir characteristics, failed to produce mobile oil. As a result, the company is now concentrating on advancing development of its Ahpun and Kodiak fields, both of which hold substantial independently certified resources. Preparations are underway for developing the Ahpun field, alongside plans for a commercial demonstration well connected to the Alaska LNG Phase 1 pipeline project. Pantheon aims to reach cash flow self-sufficiency and establish a sustainable market position by 2028, benefiting from its strategic proximity to existing infrastructure to help reduce development costs and timelines.

Financially, Pantheon faces ongoing hurdles with profitability and cash flow, reflected in a cautious overall outlook. Technical charts suggest the stock is oversold but remains below critical support levels. While recent corporate progress offers some encouragement, valuation concerns persist due to continued negative earnings.

About Pantheon Resources

Pantheon Resources plc is an AIM-listed oil and gas developer focused on its wholly owned Ahpun and Kodiak fields located on Alaska’s North Slope. The company holds approximately 1.6 billion barrels of independently certified contingent recoverable oil and 6.6 trillion cubic feet of natural gas. Pantheon’s long-term goal is to achieve market recognition valuing its recoverable resources between $5 and $10 per barrel by 2028, with production targeting the Trans-Alaska Pipeline System (TAPS) and the proposed North Slope-to-Southcentral Alaska gas pipeline.

Average Trading Volume: 8,168,617
Technical Sentiment Signal: Strong Sell
Market Capitalization: £294.9 million

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