Pantheon Resources CEO Jay Cheatham joined Steve Darling from Proactive to share news the company has raised 22 million dollars in an oversubscribed financing. The strong demand can be attributed to the quality of Pantheon's assets and their track record of accomplishments.
Cheatham telling Proactive the company is looking at using the capital to fund the flow testing of the Shelf Margin Deltaic horizon from the Alkaid #2 wellbore and also fund two Independent Expert Reports on the Company's Theta West and Alkaid projects. The company plans preparation of dynamic models and field development modelling and also complete the purchase of an additional Alaskan North Slope acreage.