Pantheon restarts flow testing on Alkaid 2 well

The AIM-traded firm said that, following the successful cleanout of the sand blockage in the wellbore, flow testing operations had now recommenced at Alkaid 2.

It said flow test information would only be reported, however, after flow rates had been stabilised.

“With the sand blockage in the wellbore cleaned out and the production liner reinserted, we can now look forward to observing the potential of Alkaid 2 as the well progresses through the cleanup phase,” said chief executive officer Jay Cheatham.

“We'll report the results once flow rates have stabilised and the data is representative of the potential of the well.

“As I've stated a number of times, we are very happy with the potential for Alkaid 2 and are optimistic of a positive result.”

At 0956 GMT, shares in Pantheon Resources were up 3.33% at 51.15p.

Reporting by Josh White for Sharecast.com.