Operational Update

RNS Number : 9274Y

Pantheon Resources PLC

11 December 2017

 

11 December, 2017

 

Pantheon Resources plc

Operational Update

Pantheon Resources plc ("Pantheon" or "the Company"), the AIM-quoted oil and gas exploration company with a working interest in several conventional project areas in Tyler and Polk Counties, onshore East Texas, is pleased to provide an update on VOBM#4 logging operations:

VOBM#4 well, Tyler County, 75% working interest

The Company is pleased to report that Schlumberger has now completed logging operations on the VOBM#4 sidetrack well in Tyler County, which was drilled to a depth of 12,050 feet targeting the Wilcox formation. Electric logs have indicated the presence of hydrocarbons in a potentially significant reservoir in the targeted Wilcox formation, confirming natural gas shows encountered during drilling.

Whilst results from logging are highly encouraging, the significance of these results cannot be definitively assessed until flow testing operations have been undertaken. A lower cost workover rig will now be used to complete the well and to undertake flow testing. An update will be given at the conclusion of testing.

-Ends -

Further information:

Pantheon Resources plc	[phone]
Jay Cheatham, CEO
Justin Hondris, Director, Finance and Corporate Development
Stifel Nicolaus Europe Limited (Nominated Adviser and broker)	[phone]
Callum Stewart
Ashton Clanfield
Nicholas Rhodes
FTI Consulting	[phone]
Ed Westropp
James Styles

For further information on Pantheon Resources plc, see the website at: www.pantheonresources.com 

In accordance with the AIM Rules - Note for Mining and Oil & Gas Companies - June 2009, the information contained in this announcement has been reviewed and signed off by Jay Cheatham, a qualified Chemical & Petroleum Engineer, who has over 40 years' relevant experience within the sector.

The information contained within this RNS is considered to be inside information prior to its release.

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.

 

END

 

 

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