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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.20 | 0.62% | 32.65 | 32.45 | 32.80 | 33.80 | 32.25 | 33.80 | 1,386,082 | 16:35:13 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Natural Gas Liquids | 804k | -1.45M | -0.0016 | -202.19 | 293.48M |
TIDMPANR
RNS Number : 4610N
Pantheon Resources PLC
09 August 2017
9 August, 2017
Pantheon Resources plc
Operational Update
Pantheon Resources plc ("Pantheon" or "the Company"), the AIM-quoted oil and gas exploration company with a working interest in several conventional projects in Tyler and Polk Counties, onshore East Texas, is pleased to provide the following update:
VOBM#2H, Polk County
Pantheon is pleased to confirm that the fracture stimulation procedure ("Frac") on the VOBM#2H well, designed to remediate near wellbore skin damage caused during horizontal and deviated drilling, has been completed.
Initial results indicate that the Frac has been successful, with the well, which is presently in the process of recovering frac water, flowing both gas and oil to surface. The Company cautions however that it is too early to make an accurate assessment as to the ultimate performance of the well until the remaining frac water has been recovered, production tubing installed and flow testing completed.
A workover rig is required to install the production tubing and this procedure and subsequent testing is estimated to take a further three weeks on a trouble free basis. Results will be reported at the conclusion of testing operations.
VOBM#4, Tyler County
The operator has been notified that the mobilisation and delivery of the drilling rig, contracted for the planned sidetrack of the VOBM#4 well is now expected during the second week of September 2017. This is due to the third party currently utilising the rig, requiring it for longer than initially forecast.
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
In accordance with the AIM Rules - Note for Mining and Oil & Gas Companies - June 2009, the information contained in this announcement has been reviewed and signed off by Jay Cheatham, a qualified Chemical & Petroleum Engineer, who has over 40 years' relevant experience within the sector.
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
DRLDGGDICUGBGRI
(END) Dow Jones Newswires
August 09, 2017 02:00 ET (06:00 GMT)
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