Pantheon Resources (LON:PANR) Trading Up 19.9% – Time to Buy?

Shares of Pantheon Resources Plc (LON:PANR) traded up 19.9% on Thursday . The company traded as high as GBX 51.40 ($0.64) and last traded at GBX 47 ($0.59). 26,319,096 shares changed hands during trading, an increase of 299% from the average session volume of 6,594,952 shares. The stock had previously closed at GBX 39.20 ($0.49).

Pantheon Resources Trading Up 7.4 %

The stock has a 50 day moving average of GBX 29.37 and a 200-day moving average of GBX 22.23. The company has a market capitalization of £565 million, a P/E ratio of -3,070.00 and a beta of -0.36. The company has a current ratio of 0.58, a quick ratio of 20.28 and a debt-to-equity ratio of 8.69.

About Pantheon Resources

Pantheon Resources plc is an AIM listed Oil & Gas company focused on developing the Ahpun and Kodiak fields located on state land on the Alaska North Slope (“ANS”), onshore USA where, following issue of the new leases, it will have a 100% working interest in c. 259,000 acres. Certified contingent resources attributable to these projects exceeds 1 billion barrels of marketable liquids, located adjacent to Alaska’s Trans Alaska Pipeline System (“TAPS”).

Pantheon’s stated objective is to demonstrate sustainable market recognition of a value of $5-$10/bbl of recoverable resources by end 2028.