2024 Acquired Leases
The maps on the left highlighted the potential for further topsets extending to the East of the Dalton Highway. The seismic (and subsequent flow testing) indicated a high quality reservoir. Furthermore, the cores, cuttings and logs from the Megrez-1 well and, despite indicating material oil saturations and reservoir properties that would support commercial production rates under normal circumstances, no mobile oil was discovered in the tested intervals.
Pantheon is able to return to Megrez-1 in the future once permanent production facilities are in place, to allow for long term flow testing to proceed at a lower cost. There is no guarantee that oil will flow at commercial rates in a subsequent test, but the high oil saturations and other data indicate the opportunity to learn more about the potential for commercial exploitation through future testing.