Pantheon Resources PLC - PANR Placing, Subscription and AcquisitionReleased 07:02 21-Dec-2018
Information on The Great Bear Companies
The Great Bear Companies completed a farmout of the Winx well in 2018 and have a 10 per cent. Working Interest in the well with an option to acquire an additional 10 per cent. Working Interest exercisable within 6 months following completion of the Winx well (the "Back-In Right"). The cost of exercising the Back-In Right is 20 per cent. of the cost of the well. The Winx well is estimated to have 400 million barrels oil P50 Technically Recoverable Resource potential. The prospect is located approximately 4 miles east of the Horseshoe#1/1A Nanushuk oil discovery well, claimed by Repsol in 2017 to be "the largest U.S. onshore oil discovery in 30 years".
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/PANR/13912443.html
Ann: Alaska Operations Update - Winx-1, page-95
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