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Pantheon Resources ( (GB:PANR) ) has issued an update.
Pantheon Resources announced the successful drilling of the Dubhe-1 appraisal well lateral, which exceeded pre-drill expectations by achieving a total measured depth of 15,800 ft, with 5,200 ft within the SMD-B target reservoir. This success has led to an updated best estimate of 589 million barrels of marketable liquids in the Ahpun area, representing a 63% increase from previous estimates. The company is preparing for hydraulic stimulation and flow tests to gather production data, which will influence development planning and the potential commercial viability of the resources.
The most recent analyst rating on (GB:PANR) stock is a Hold with a £22.50 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.
The overall stock score reflects significant operational challenges, with financial performance and valuation being the primary concerns due to negative profitability and cash flow. However, positive corporate events and strategic initiatives provide potential upside, supporting a slightly better outlook.
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 the Kodiak and Ahpun oil fields located near pipeline and transportation infrastructure on Alaska’s North Slope.
Average Trading Volume: 7,382,795
Technical Sentiment Signal: Sell
Current Market Cap: £358M
Learn more about PANR stock on TipRanks’ Stock Analysis page.