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Pantheon Resources shares fell 10.6% amid heavy trading and concerns over debt and lack of progress.
Pantheon Resources (LON:PANR) shares dropped 10.6% on Thursday, closing at GBX 7.02 amid a 300% surge in trading volume to 74.4 million shares.
The decline followed a previous close of GBX 7.85, with the stock trading near a 12-month low and below key moving averages, signaling technical weakness.
The AIM-listed oil and gas explorer, focused on Alaska’s Ahpun and Kodiak fields, holds 100% interest in 259,000 acres with estimated recoverable resources of 1.6 billion barrels of crude and 6.6 trillion cubic feet of natural gas.
Despite a "Buy" analyst consensus and a GBX 66 target price, concerns persist over a high debt-to-equity ratio of 7.35, potential share dilution, and lack of recent operational catalysts.
The company aims to achieve a $5 per barrel valuation of recoverable resources by 2028.
Las acciones de Pantheon Resources cayeron un 10,6% en medio de una fuerte negociación y preocupaciones sobre la deuda y la falta de progreso.