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[ctrader3] 07/7/2022 07:08

Pantheon Resources plc

Spudding of Alkaid #2 Well

Pantheon Resources plc ("Pantheon" or "the Company"), the AIM listed oil and gas company with a 100% working interest in all of its oil projects spanning c. 153,000 acres adjacent and near to transportation and pipeline infrastructure on the Alaska North Slope ("ANS"), is pleased to announce the following updates.



Spudding of Alkaid #2 Well

Operations have commenced on the Alkaid oil accumulation with the spudding of Alkaid #2, the Company's first horizontal well on the ANS, using the Nabors 105AC drill rig. The rig is larger than those previously used, with increased capacity, and can undertake multiple functions. As of 8 PM BST on 6 July, Pantheon was drilling ahead at a depth of approximately 300 feet.

The Alkaid #2 well will assess three impactful objectives over multiple formations:

(i) Production testing a proven oil formation encountered in Alkaid #1

(ii) Exploring the deeper potential for oil in that zone

(iii) Appraising an extension of oil discovered in the Shelf Margin Deltaic at Alkaid #1 and Talitha #1.



The Alkaid #2 well is located adjacent to the Dalton Highway and Trans Alaska Pipeline System (TAPS) which are the main transportation highway and export pipeline, respectively, and approximately 4.5 miles from the Alkaid #1 discovery well drilled in 2015. A key objective of this well is to gain robust production test data to accurately assess the ultimate potential of the reservoir. Whilst the Company believes the optimum well design to exploit the Alkaid anomaly would include +8,000 foot lateral sections, in this first well the Company will adopt a more conservative approach with a shorter lateral simply to minimise operational risk.

[ctrader3] 07/7/2022 07:05

Alaric u seem to have an unhealthy obsession of posting
about chartrader, tick tock or maybe just tock.

[mason66] 06/7/2022 22:33

Hi swentab. When I applied for a coin which you kindly supplied, I said that my interest hitherto was to read the informative posts but that I was not really a poster. Although I have still not posted, I find that I am now unable to see the boards.

[madd_rip] 06/7/2022 22:24

Be amusing if one of the aliases was pro.

[prochainfois] 06/7/2022 20:36

Hi Swendab1 please get me out of here! Long term holder beginning to feel anxious. Would like to read some more dependable contributions..

[pjmastra] 06/7/2022 19:38

Hi swendab1, could you send a coin to join the guild? Many thanks

[mike290] 06/7/2022 17:48

Hi Swendab,

Soon the only posters on this thread will be pro.. and ctrader...
and reading any of their posts is a complete waste of time.


You've done a great job in creating the guild. Thanks for your hard work.

Regards, Mike

[mlf51] 06/7/2022 17:48

Just as well pantheon have a break even at $30 a barrel, see you there, not.

[ctrader3] 06/7/2022 17:33

By Barani Krishnan

Investing.com -- The oil bears have tasted blood, and they aren’t stopping.

U.S. crude futures tumbled another $4 to test the $95 per barrel support on Wednesday as pessimism from recession talk and a rocketing dollar ahead of more rate hikes by the Federal Reserve shook the roots of this year’s oil rally. In the previous session, West Texas Intermediate, the benchmark for U.S. crude, lost almost $9 after a test of $97.


Brent, the global benchmark for crude, plumbed below $100 the first time since April 25. On Tuesday, Brent lost almost $11 after a test of $101.

Citigroup says WTI could collapse to $65 a barrel by the end of this year and slump to $45 by end-2023 if a demand-crippling recession hits. Technical charts studied by Investing.com suggest that a drop to $85 is possible before the end of July, and the challenge for WTI is to break below $92.40 first.

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it's a landslide of good news.

[einahs] 06/7/2022 17:29

Please can you add me to the guild thank you.

[ctrader3] 06/7/2022 17:23

the good news just keeps coming, cheaper petrol and diesel.