Pantheon Resources Plc (PTHRF)
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Pantheon Resources: disappointing Megrez well test concludes
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) completed flow testing at the Megrez-1 exploration well, in Alaska, with the remaining zones also disappointing. The company, in a statement, said two intervals in the Lower Sagavanirktok 3 Formation were perforated and lifted to surface with nitrogen.
Pantheon Resources says initial Megrez well results disappointed
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) told investors it has paused its plans at the Megrez-1 well, in Alaska, as an initial well tests disappointed. Another test, on a different zone will go ahead before Pantheon makes a decision about the rest of the well programme.
Pantheon Resources: First set of results from Megrez well
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) has released preliminary results at the Megrez-1 well, where the testing in the first of multiple zones have disappointed. In the Megrez well the Topset 1 reservoir was stimulated across a 290-foot section, but initial results indicated that, at this location, it is in a transition zone with insufficient mobile oil.
Pantheon Resources confirms $35mln bond issue
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) has confirmed the closing of a previously announced US$35 million convertible bond. The senior convertible bonds, to mature in March 2028, were issued to Sun Hung Kai & Co.
Pantheon Resources to start Megrez well tests this week
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) highlighted the ‘positive momentum' of the six months to the end of December and through 2025 so far, as it reported its interim financial results. The Alaska-focussed oil and gas junior added that the flow testing of the Megrez-1 well is due to get underway this week.
Pantheon Resources gears up for Megrez-1 flow testing - ICYMI
Pantheon Resources PLC CEO Max Easley joined Steve Darling from Proactive to share details on the upcoming testing, which will assess multiple pay zones identified through extensive geological analysis. Proactive: Welcome back inside our Proactive newsroom.
Pantheon Resources counts down to flow testing at Megrez well
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) told investors it expects to start flow testing this month for its Megrez-1 well on Alaska's North Slope. The testing will evaluate six of seven identified pay zones in the well.
Pantheon Resources set to 'upsize' bond issue
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) told investors that its convertible bond issue is set to be ‘upsized' to $35 million, from $30.5 million. Convertible bondholder Sun Hung Kai & Co, and its affiliates, have the right to increase the company's convertible bond issuance (and the option must be exercised by 5pm on 28 February).
Pantheon Resources confirms Max Easley has now started as CEO
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) has confirmed that Max Easley has taken up his position as chief executive officer earlier than expected, effective 21 February. David Hobbs will now be Pantheon's non-executive chair, rather than executive chair.
Pantheon Resources to issue up to $35m of new convertible bonds
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) has agreed to issue US$30.5 million and US$35 million of three-year senior convertible bonds to repay existing bonds and for working capital. The bonds, due March 2028 and with coupon of 5.0% per annum, are being issued to Hong Kong-listed financial institution Sun Hung Kai & Co. Pantheon, which also appointed a new CEO today, said the proceeds will allow the repayments of the outstanding principal of $12.25 million principal remaining on the US$55 million senior unsecured convertible bonds due 2026.
Pantheon Resources appoints new CEO in preparation for possible US listing
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) has appointed Alaskan energy executive Max Easley as its new chief executive officer as it prepares for a possible US listing and shifts from exploration to development and production. The oil and gas company, which is developing the Kodiak and Ahpun oil fields on Alaska's North Slope, said current CEO Jay Cheatham will continue to serve as a non-executive director for a handover period.
Pantheon Resources team reckons there's much more to come in Alaska - ICYMI
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) CEO Jay Cheatham talked with Proactive about the company's latest announcement regarding the Megrez-1 well. Located in the eastern tops, this well has shown significant potential, with a 15-50% increase in resource estimates over the pre-drill figure of 609 million barrels.
