AIM Round-Up: Pantheon Resources Up 82 Percent on Positive Results from VOBM#1

The Alternative Investment Market (AIM) All-Share index (INDEXFTSE:AXX) broke its winning streak this week, losing 1.2 percent to close at 738.5 points.
However, a number of companies from the mining and energy sector still did well this week. Pantheon Resources (LSE:PANR), an oil and gas exploration company with interests in operations in East Texas, was up 82 percent, to GBP0.75. The company announced the conclusion of testing at its VOBM#1 well on Wednesday, reporting that the well had encountered 62 feet of net pay at a depth of c.14,200 feet.
“Today’s news is truly a transformational event for Pantheon,” said CEO Jay Cheatham in a statement. “The VOBM#1 well is expected to contribute valuable revenue and NPV to our company, particularly in the context of the exceptionally low operating costs expected for these wells.”

South African gold exploration and production company Orosur Mining (LSE:OMI) was also on the rise, gaining 28 percent to finish the week at GBP0.08. The company’s share price spiked on high volume on Wednesday afternoon, though there was no news to explain the rise.
Meanwhile, Falkland Oil and Gas’ (LSE:FOGL) share price dropped 40 percent for the week to close at GBP12.75. The company fell drastically on Thursday after it announced that its Humpback exploration well encountered only non-commercial quantities of oil and gas. Also losing out was Borders & Southern Petroleum (LSE:BOR), which saw its share price drop 36 percent, to GBP0.0216.
 
Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article. 
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