Replies to post #1271 on Pantheon Resources Plc (PTHRF)

[doinit]

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The main target for this well was the Shelf Margin Deltaic (SMD) deposit and will be tested in the next three weeks. Flow rates in the 50-100 bopd range would underwrite development with production wells expected to deliver 1,200 - 1,500 bopd. Management estimates of the value of this single horizon are some $5 billion at current oil prices! Scaling for the Theta West BFF resource would give $15-20 billion… the numbers are in danger of being too large for people to get their minds around them.

[WOOFERHEAD]

These tests were performed around 10 miles away from the optimal development location. Yet despite this, the company achieved an average flow rate of 73 barrels per day over three days. And on the last day of testing, the rate had stabilized at 40 barrels.

The objective was to verify the quality and presence of light oil. This was successful.

Optimal location Theta West!

GLTA

$PTHRF