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Pantheon Resources says testing work in Alaska delayed due to blizzards
StockMarketWire.com
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Oil company Pantheon Resources said testing work on a natural gas well in Alaska had been delayed by bad weather.
Blizzard conditions on the Alaska North Slope which, along with logistical issues, prevented transit along the ice road and Dalton Highway, the company said.
Weather conditions have since improved meaning operations have resumed and testing has now commenced on the Kupurak horizon, with the Talitha #A well currently flaring natural gas as it cleans up.
'Whilst this is an encouraging sign, the company cautions that it is too early to make a definitive assessment as to the ultimate commerciality of the Kupurak horizon,' Pantheon said.
'Results will be announced at the conclusion of testing operations.'
At 9:49am: (LON:PANR) Pantheon Resources PLC share price was 0p at 40p
Story provided by StockMarketWire.com
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