Pantheon Resources Plc (PTHRF)

[doinit]

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In February 2022 the Company announced that testing operations had been completed on the Lower Basin Floor Fan ("BFF"), a Brookian aged horizon. Three separate 10 feet ("ft") intervals were perforated over 370 ft out of 600 ft of gross section, at 9405 to 9415 ft, 9205 to 9215 ft and 9045 to 9055 ft.

These three intervals were individually stimulated and flow tested, producing high quality c. 35 to 39 degree API oil and averaging 73 barrels of oil per day ("BOPD") over a three day test period.