Pantheon Resources Plc (PTHRF)

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The potential improvement in reservoir quality in the newly acquired acreage underpins a 40% increase in the high estimate of recoverable resources to 2,840 million barrels of marketable liquids and 11.75 trillion cubic feet of natural gas. The Kodiak oil and gas field is currently Pantheon's largest project development candidate, defined by three well penetrations into the Basin Floor Fan structure, which extends over 10 miles from the deepest part of the fan to the 2021 updip Theta West-1 appraisal well. The recent successful lease bids secure the remainder of the accumulation to the northwest and add a significant volume of recoverable oil and gas to the Kodiak field. Pantheon has delineated the full extent of the field through its proprietary 3D seismic, with seismic attributes indicating the presence of light oil across the entirety of the field.