Pantheon Res Plc Ord - PTHRF stock
Description[edit]
Pantheon Resources Plc, (OTC: PTHRF, LSX: PANR) is an independent U.K.-based oil and gas exploration and production company. The company engages in oil and gas exploration and development with absolute working interests in a portfolio of high-potential oil projects on the Alaskan North Slope that stretches over 150,000 acres. The firm has significant projects under its belt including Greater Alkaid, which covers approximately 22,804 acres, Talitha, spanning roughly 44,463 acres, and Theta West. The Greater Alkaid and Talitha assets have tested positive for light oil in both the Brookian and Kuparuk formations. The two properties are situated near the Trans Alaska Pipeline System (TAPS) and the Dalton Highway, about 20 miles away from the two typical oil fields in North America, Prudhoe Bay Unit and Kuparuk River Unit. Theta West project is the company’s primary target and is located in northern Alaska, outside of Prudhoe Bay. Pantheon has three oil wells that have been penetrated and oil encountered in the Basin Floor Fan (BFF) complex namely Pipeline State #1, Talitha #1, and Theta West #1. The firm was formed in 2005 and has its head office in London, United Kingdom. Pantheon’s common stocks are publicly traded on the London Stock Exchange under PANR.L and on OTC markets under the PTHRF symbol.[1]
Business Operations[edit]
Pantheon prioritizes shareholders’ value maximization by maintaining high working interest standards throughout the evaluation phase and pursuing appropriate drilling, verifying their asset significance, obtaining an exit, and maximizing value for all stakeholders. The company’s short-term focus is to effectively explore the reserve and commercial potential of the discovered oil resources at Greater Alkaid and Talitha, which the firm strongly believes hosts top-quality resources. The resource portfolio includes discovered and tested light oil-bearing Greater Alkaid and Talitha assets, the firm’s primary assets. Recent drilling activities have upgraded the mineral potential of the two accumulations. Both assets have multi-billion oil potential, with a convenient location just underneath and adjacent to the main Trans Alaska Pipeline System (TAPS) and Dalton Highway, the main transportation channel for the Alaskan North Slope(ANS) oil and gas operations. The Department of Natural Resources (DNR), in Alaska State, initially approved both Talitha Area Unit (44,463 acres) and the Alkaid Unit (22,804 acres) in November 2020. The company most recently discovered massive enormous volumes of oil at the Talitha estimated to be well over a billion barrels.
Alaska North Slope (ANS)[edit]
Pantheon also holds a large lease on the ANS, where it has 100% working in the Kodiak and Ahpun projects, which comprise 193,000 acres of land within close proximity of existing transportation and pipeline infrastructure. [2]
ANS is a highly popular province that has been in active production for a long period stretching decades back but still averaging over 500,000 BOPD in production. Emerging geological play types and discoveries are lined up to address the production decline issue experienced in the region and instead boost it over the next decade. The region remains underexplored and is referred to as an immature exploration province despite many years of activity. It holds the largest traditional oil and gas accumulations in North America.[3]
The company recently concluded drilling in the Theta West asset#1 well, confirming the presence of sweet crude oil. The property is now scheduled to undergo extensive production testing operations. Theta West is the company’s largest appraisal. Patheon believes that Theta West has the potential to be one of the ANS region’s largest hydrocarbon pore volume play. The property is regarded as a giant Basin Floor Fan due to the potential presence of multi-billion oil barrels.[4]
Corporate History[edit]
Patheon Resources was incorporated in 2005 as an independent oil and gas company in the U.K. The firm originally focused on hydrocarbon-producing basins situated onshore USA, a region that had established oil and markets, lower operational risk, and better infrastructure. The company diverted focus from East Texas in 2019, when the group acquired 100% ownership of Great Bear Petroleum’s oil assets. Great Bear had over time, established a solid portfolio of high-quality, high-potential properties on Alaska North Slope. Patheon resolved to explore and expand on the superior opportunities attached to the Alaskan Assets.[5]
Stock[edit]
Patheon reported its qualification to trade on the OTCQX Best Market on Sept. 7, 2022. The company graduated to the OTCQX from the Pink Sheets and trades on the platform under the PTHRF ticker symbol. The move increased the company’s visibility and exposure to U.S. investors.[6]
- ↑ CNBC. Pantheon Resources PLC PTHRF Stock Profile. Retrieved on 12/17/2023.
- ↑ energy-pedia news. Pantheon Resources announces successful acquisition of leases over Updip Kodiak and Ahpun's Eastern potential. December 14, 2023.
- ↑ pantheonresources.com. Home. Retrieved on 12/17/2023.
- ↑ pantheonresources.com. Other Discovered Resources. Retrieved on 12/17/2023.
- ↑ pantheonresources.com. About Us - History. Retrieved on 12/17/2023.
- ↑ Yahoo Finance. Pantheon Resources Graduates to the OTCQX Best Market. September 7, 2022.
OTC Symbol: PTHRF | OTC Tier: OTCQX International
