The share market of Pantheon Resources skyrockets this year by 60.6% and reaches a new price mark of GBp 57.60 after the huge dip during May-June. Last week’s report claims that the company’s shares are rising due to a recent analysis of the SMDB zone in Alaska indicating higher resources than originally estimated. According to the AIM-listed oil and gas exploration firm, the zone has the potential to hold 2.6 billion barrels of oil in situ and a 50% probability prospective resource of 404 million barrels of oil. This contrasts to a prior assessment by management of 1.8 billion barrels and a P50 potential resource of 483 million barrels.
Pantheon Resources is an oil and gas exploration firm located in the United Kingdom. Oil and gas exploration and development are the primary activities of the company. The Company’s principal assets are located on Alaska’s North Slope, where it has an 89 percent to 100 percent operating interest in projects with multi-billion-barrel oil potential.
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