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Pantheon Resources Shares Fall After Suspension of Testing at Talitha Well in Alaska

By Sabela Ojea

Shares in Pantheon Resources PLC on Friday fell after the oil and gas company said it has suspended testing of the shelf margin deltaic horizon at the Talitha well in Alaska, and that it will move its operational focus to the Theta West well.

"Operating in Arctic conditions can be challenging and have caused operational issues which have impacted the testing of the SMD [shelf margin deltaic horizon]. We do, however, have excellent data on the SMD which we will continue to analyze and plan for further activities," Chief Executive Jay Cheatham said.

Shares in the AIM-listed company at 0853 GMT were down 26.20 pence, or 19%, at 108.20 pence.

Write to Sabela Ojea at @sabelaojeaguix


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