BellcurveYour way off mark....600m oil column gulf...

Bellcurve

Your way off mark....600m oil column gulf mexico??

Firstly pantheon are onshore east texas....woodbine...next door to prolific AA wells field

Targeting in first vertical well about 80f of pay at kara farms1

Should be about 2,000boepd upon success

17wells to drill....next wells will be horizonal

Npv10 p50 of $200m per well....or about $50M to pantheon

So about $850m npv 10 on thep50 to pantheon on 17wells

With120m shares on issue...market cap of $35m aud....upside significant for pantheon

Assume 100p for pantheon....moderate success

7m shares in pantheon held by axt = $$10m cash or about 8c per share fcash backing for axt....and the opportunity for a real good project

Lets say pantheon kicks a big goal....upside is multiples for both panth and axt