Pantheon Resources Plc (PTHRF)

[WOOFERHEAD]

Jay Cheatham, CEO of Pantheon Resources, said:

https://polaris.brighterir.com/public/pantheon_resources/news/rns/story/xp8nljr

"We do understand that Pantheon's share price has suffered, as a result of a number of factors including the results at Alkaid which represents less than 4% of our resource, social media mistruths, a lower oil price, and rising interest rates.. I reiterate again to shareholders that we see great potential in the Alkaid project. We know the flow test result was impacted because our fracks intercepted a gas cap. We will adjust for this in future wells by positioning them a little deeper and would expect to see significant improvement. Alkaid #2 was designed as a test well to gain data to optimise future wells. This is industry standard practice - at Prudhoe Bay, America's largest oilfield and only 20 miles north of us, the initial wells were dry holes! Alkaid was anything but a dry hole; far from it, our modelling points to Alkaid being a potential commercial development."

GLTA

$PTHRF