Pantheon Resources (LON:PANR) Trading Down 9.4% – Here’s Why

Pantheon Resources Plc (LON:PANR)’s share price dropped 9.4% on Wednesday . The company traded as low as GBX 11 and last traded at GBX 11.23. Approximately 36,936,516 shares traded hands during mid-day trading, an increase of 64% from the average daily volume of 22,529,795 shares. The stock had previously closed at GBX 12.40.

Pantheon Resources Price Performance

The company has a debt-to-equity ratio of 4.84, a current ratio of 1.34 and a quick ratio of 20.28. The stock has a market cap of £161.40 million, a price-to-earnings ratio of -24.13 and a beta of -0.36. The business’s 50-day simple moving average is GBX 8.70 and its two-hundred day simple moving average is GBX 15.95.

About Pantheon Resources

Pantheon Resources plc is an AIM listed Oil & Gas company focused on developing its 100% owned Ahpun and Kodiak fields located on State of Alaska land on the North Slope, onshore USA. Independently certified best estimate contingent recoverable resources attributable to these projects currently total c. 1.6 billion barrels of ANS crude and 6.6 Tcf of associated natural gas. The Company owns 100% working interest in c. 259,000 acres.

Pantheon’s stated objective is to demonstrate sustainable market recognition of a value of approximately $5 per barrel of recoverable resources by end 2028.