Pantheon Resources: Oil Strike



The VOBM#5 well has reached total depth at 14,190 feet, having successfully encountered over 60 feet of net pay in the targeted Eagle Ford sandstone formation on prognosis, and having encountered hydrocarbons while drilling.  Logs have been run and confirm the presence of a potentially significant hydrocarbon bearing horizon in the Eagle Ford sandstone. Production casing has been set and a frac crew has been contracted who are expected to arrive on location during the week commencing 19 March 2018 to frac the well. In the event of success, the operator will immediately commence arrangements to lay a short pipeline to be connected into the gas processing system. A further announcement will be made at the conclusion of testing operations.


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