Pantheon Resources Completes Megrez-1 Testing, Shifts Focus to Ahpun and Kodiak Fields

Pantheon Resources ( (GB:PANR) ) has issued an announcement.

Pantheon Resources announced the completion of flow testing at its Megrez-1 well, which did not yield mobile oil despite promising reservoir properties. The company will now focus on developing its Ahpun and Kodiak fields, which have significant certified resources. Pantheon is preparing for the Ahpun field development and planning a commercial demonstration well for the Alaska LNG Phase 1 pipeline. The company aims to achieve cash flow self-sufficiency and sustainable market recognition by 2028, leveraging its strategic location near existing infrastructure to reduce development costs and timelines.

The most recent analyst rating on (GB:PANR) stock is a Buy with a £90.00 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 significant challenges with profitability and cash flows, contributing to a lower overall score. While the technical analysis indicates potential overselling, the stock struggles under key technical levels. Positive corporate developments provide some optimism, but the valuation remains a concern with negative earnings.

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 the North Slope of Alaska, USA. The company has independently certified contingent recoverable resources totaling approximately 1.6 billion barrels of ANS crude and 6.6 trillion cubic feet of 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, with plans to produce into the TAPS main oil line and the proposed natural gas pipeline from the North Slope to Southcentral Alaska.

Average Trading Volume: 8,168,617

Technical Sentiment Signal: Strong Sell

Current Market Cap: £294.9M

For detailed information about PANR stock, go to TipRanks’ Stock Analysis page.