they are certainly talking a big game re farm in from the latest PANR release of 1st September to the AIM
https://www.londonstockexchange.com...d-production-unit-operational-update/14671032Farmout update
Pantheon confirms that it is actively engaged with multiple parties who are presently undertaking analysis of the farmout opportunity. Such parties range from National Oil Companies to smaller specialist operators, and accordingly farmout discussions have ranged over the entire Alaskan portfolio to smaller singular projects. Pantheon confirms that its objective is to be drilling in Alaska this coming 2020/21 winter season.
Jay Cheatham, CEO, stated:
"I am incredibly pleased that the State of Alaska Department of Natural Resources has deemed our Alkaid Unit application completed. It is subject to the standard 30 day public notice period, but I am confident the unit will pass public scrutiny. The unit as planned will allow Pantheon to drill year-round from the disturbed area along the Dalton Highway, reducing costs significantly as we will drill in the summer with better weather and access versus a winter well on ice. This is a major milestone for our company and the State who are not only our partner as the royalty owner, but also as the technical regulator who must approve our technical and operational plans. This is a large unit at 22,804 acres or almost 36 square miles."
"Despite the obvious disruptions of COVID on the farmout process, we are extremely pleased that discussions are active with multiple parties. Drilling this coming winter is our objective, and this remains an achievable target if we can conclude a farmout by the end of autumn."
"The potential size and scale of our Alaskan projects, coupled with a modelled breakeven price lower than most fields in the world make this a unique and compelling opportunity for potential farminees. To our knowledge there is no other project with similar characteristics available in the world today. For many years in the USA oil and gas capital flows have been dominated by the unconventional shale plays. Today, many of these plays are no longer attractive, in contrast to ours."
(20min delay)