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Pantheon Resources ( (GB:PANR) ) just unveiled an announcement.
Pantheon Resources has announced the mobilization of the Nabors 105AC rig to the Dubhe-1 pad, targeting the Ahpun Topset in Alaska’s North Slope. This appraisal well aims to assess the main reservoir horizon and explore additional pay zones, potentially leading to resource and valuation upgrades. The company plans for a potential lateral completion and long-term flow test to prove oil deliverability and pipeline-quality gas, supporting its financing strategy. Additionally, Pantheon has updated its total voting rights following the admission of new ordinary shares, impacting shareholder calculations under disclosure rules.
The most recent analyst rating on (GB:PANR) stock is a Buy with a £85.00 price target. To see the full list of analyst forecasts on Pantheon Resources stock, see the GB:PANR Stock Forecast page.
Spark’s Take on GB:PANR Stock
According to Spark, TipRanks’ AI Analyst, GB:PANR is a Neutral.
Pantheon Resources faces financial challenges with unprofitability and negative cash flows, which are partially offset by a stable balance sheet. Technical indicators show bearish momentum. Positive corporate events, including a successful fundraise and strategic leadership changes, improve its outlook slightly.
To see Spark’s full report on GB:PANR stock, click here.
More about Pantheon Resources
Pantheon Resources plc is an AIM-listed oil and gas company focused on developing its 100% owned Ahpun and Kodiak fields located on State of Alaska land on the North Slope, onshore USA. The company has independently certified best estimate contingent recoverable resources totaling approximately 1.6 billion barrels of ANS crude and 6.6 Tcf of associated natural gas. Pantheon aims to achieve sustainable market recognition of a value of $5-$10 per barrel of recoverable resources by the end of 2028, leveraging its strategic location near existing infrastructure to reduce development timeframes and costs.
Average Trading Volume: 8,402,136
Technical Sentiment Signal: Sell
Current Market Cap: £246.9M
See more data about PANR stock on TipRanks’ Stock Analysis page.