By Michael Susin
Pantheon Resources shares rose after the group said a report confirmed its resource estimate at Kodiak project in the U.S.
Shares at 0721 GMT were up 2.82 pence, or 21%, at 16.42 pence.
The London-listed oil-and-gas exploration company said Tuesday that the report prepared by Netherland, Sewell and Associates confirmed the resource estimate totalling 962 million barrels of oil and natural gas liquids for the field.
“This is the first independent expert report conducted on our largest asset and will have enormous value in financing discussions and in attracting potential partners,” Chief Executive Jay Cheatham said.
Write to Michael Susin at michael.susin@wsj.com
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