In a press release dated 5 August 2019, London-based Pantheon Resources plc announced it was preparing a data room in connection with a potential farmout of working interest in the companyâs Alaskan projects, where it holds 75-90% interest.  If a deal is completed, Pantheon plans to drill a minimum of two wells beginning the winter of 2019, likely one at Talitha and one at Alkaid/Phecda, both located about 20 mi (32 km) south of the town of Deadhorse along the Trans-Alaskan Pipeline. Alkaid is a confirmed discovery drilled in 2015 which encountered 240 ft (73 m) of net oil pay. Talitha is the site of the Pipeline State #1 well drilled by Arco in 1988 which encountered interbedded sands and shales. The Talitha and Alkaid/Phecda projects are each thought to contain 90-135 MMbo recoverable. The company stated first production could be possible in 2020.  Pantheon acquired these and other properties when it bought the holdings of Great Bear Petroleum in January 2019. Great Bear had previously planned to drill wells in the area: Talitha 1 (ADL 391660) and Phecda 1 (ADL 391724).
In a press release dated 5 August 2019, London-based Pantheon Resources plc announced it was preparing a data room in connection with a potential farmout of working interest in the companyâs Alaskan projects, where it holds 75-90% interest. If a deal is completed, Pantheon plans to drill a minimum of two wells beginning the winter of 2019, likely one at Talitha and one at Alkaid/Phecda, both located about 20 mi (32 km) south of the town of Deadhorse along the Trans-Alaskan Pipeline