Pantheon Resources (LON:PANR) Shares Down 11.9% – Here’s Why

Shares of Pantheon Resources Plc (LON:PANR) were down 11.9% during mid-day trading on Wednesday . The company traded as low as GBX 16.14 and last traded at GBX 16.30. Approximately 28,765,113 shares changed hands during mid-day trading, an increase of 41% from the average daily volume of 20,446,846 shares. The stock had previously closed at GBX 18.50.

Pantheon Resources Trading Down 12.8%

The stock has a market capitalization of £235.31 million, a PE ratio of -35.09 and a beta of -0.36. The company has a current ratio of 1.34, a quick ratio of 20.28 and a debt-to-equity ratio of 4.84. The stock has a 50 day moving average price of GBX 11.52 and a 200-day moving average price of GBX 12.65.

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.