Once obtained, the logs will be interpreted and used to identify and evaluate any potential hydrocarbon zones within the well, including the zone of approximately 25 feet over which the moderate gas show previously reported was recorded.
Once the interpretation of the electric logs is available and any zones suitable for flow testing have been identified the Joint Venture will decide on a suitable testing program.
The Plum Deep structure is considered to be a world class exploration prospect. Gross best estimate potential reserves (previously described as "P50 potential reserves") have been assessed in a 161-293 billion cubic feet ("bcf") range.
Pantheon is paying 33.33% of the well costs to earn a 25% working interest.
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