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Pantheon Resources Plc
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==== Talitha ==== The Talitha #A well, drilled in 2021, appraised an oil accumulation initially discovered by the Pipeline State #1 well in 1988.<ref name=":1">https://www.pantheonresources.com/about-pantheon/projects/talitha</ref> While the original well in 1988 showed significant oil potential, it was halted due to economic reasons and lack of advanced technology.<ref name=":1" /> However, high-resolution 3D seismic data acquired in 2013 reignited interest in the area.<ref name=":1" /> The Talitha #A well confirmed oil presence across several zones, and recent tests in 2022 further validated the well's promising prospects.<ref name=":1" /> ===== Key Findings ===== * The Talitha #A well, located eight miles west of the Dalton Highway and TAPS, identified movable light oil across multiple horizons, with over a billion barrels of recoverable oil potential.<ref name=":1" /> * Its proximity to existing infrastructure offers economic advantages, potentially allowing for faster production ramp-up with minimised capital expenditure.<ref name=":1" /> * The well reached a depth of c. 10,456 ft, revealing five potentially productive zones. Challenges arose during testing due to operational issues and inclement weather, but significant findings were still achieved.<ref name=":1" /> ===== Specific Zones and Results ===== # Basin Floor Fan (BFF): Tests indicated quality oil with sustained production rates.<ref name=":1" /> Future developments would potentially be at structurally higher positions for better results.<ref name=":1" /> # Slope Fan System (SFS): Testing showed producible oil, with implications for resource and oil recovery estimates. The success here suggests potential for other areas of the North Slope.<ref name=":1" /> # Shelf Margin Deltaic (SMD): Testing faced challenges from blockages and weather, but earlier data and the success of the deeper zones have kept the company's optimism intact for the potential of this zone.<ref name=":1" /> # Kuparuk: As the deepest oil formation, the Kuparuk provided significant findings.<ref name=":1" /> It's a regional producer with an adjacent giant oilfield, the Kuparuk Field.<ref name=":1" /> The Talitha #A well showed promising signs, although testing encountered issues.<ref name=":1" /> ===== Conclusion ===== The data from Talitha #A has increased confidence in the commercial viability of these zones.<ref name=":1" /> Pantheon remains encouraged by the analysis and sees potential for further exploration and drilling.<ref name=":1" /> The discovery augments the prospectivity of adjacent potential oil-bearing structures, which will be explored in future programs.<ref name=":1" />
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