14
February 2025
Pantheon Resources plc
Notice of AGM and Posting of Hard
Copy Annual Report and Accounts
Pantheon Resources plc (AIM:PANR,
OTCQX: PTHRF) ("Pantheon" or the "Company"), an oil and gas company
developing the Kodiak and Ahpun oil fields in close proximity to
pipeline and transportation infrastructure on Alaska's North Slope,
announces that the hard copy Annual Report & Accounts for the
year ended 30 June 2024, together with the Notice of Annual General
Meeting ("AGM") is being posted to shareholders today.
The Annual Report & Accounts
have been made available on the Company's website,
www.pantheonresources.com, since being published on 9th
December 2024, and the Notice of AGM will now also be
uploaded.
The Company's Annual General Meeting
will be held on Wednesday 12th March 2025 at 3:00 pm GMT at the
offices of Simmons & Simmons, CityPoint, 1 Ropemaker St, City
of London, London EC2Y 9SS.
The Company's AGM is later than in
previous years in order for a Resolution to be included regarding
the appointment of Grant Thornton as the Company's auditor. The
proposed appointment of Grant Thorton is in line with the Company's
stated strategy to pursue a US stock market listing.
-Ends-
For further information, please
contact:
UK Corporate and Investor
Relations Contact
Pantheon Resources plc
Justin Hondris
contact@pantheonresources.com
Nominated Adviser and
Broker
Canaccord Genuity Limited
Henry Fitzgerald-O'Connor, James
Asensio, Charlie Hammond
+44 20 7523 8000
Public Relations
Contact
BlytheRay
Tim Blythe, Megan Ray, Matthew
Bowld
+44 20 7138 3204
USA Investor Relations
Contact
MZ Group
Lucas Zimmerman, Ian
Scargill
+1 949 259 4987
PTHRF@mzgroup.us
About Pantheon Resources
Pantheon Resources plc is an
AIM listed Oil & Gas company focused on developing its 100%
owned Ahpun and Kodiak fields located on State of
Alaska land on the North Slope, onshore USA.
Independently certified best estimate contingent recoverable
resources attributable to these projects currently total c. 1.6
billion barrels of ANS crude and 6.6 Tcf (trillion cubic feet) of
associated natural gas. The Company owns 100% working interest in
c. 259,000 acres.
Pantheon's stated objective is to
demonstrate sustainable market recognition of a value
of $5-$10/bbl of recoverable resources by end 2028. This is
based on bringing the Ahpun field forward to FID and producing into
the TAPS main oil line (ANS crude) by the end of 2028. The Gas
Sales Precedent Agreement signed with AGDC (Alaska Gasline
Development Corporation) provides the potential for Pantheon's
natural gas to be produced into the proposed 807 mile natural gas
pipeline from the North Slope to Southcentral Alaska.
Once the Company achieves financial self-sufficiency, it will apply
the resultant cashflows to support the FID on
the Kodiak field planned, subject to regulatory
approvals, targeted by the end of 2028 or early 2029.
A major differentiator to other ANS
projects is the close proximity to existing roads and pipelines
which offers a significant competitive advantage to Pantheon,
allowing for shorter development timeframes, materially lower
infrastructure costs and the ability to support the development
with a significantly lower pre-cashflow funding requirement than is
typical in Alaska. Furthermore, the low CO2 content of the
associated gas allows export into the planned natural gas pipeline
from the North Slope to Southcentral Alaska without
significant pre-treatment.
The Company's project portfolio has
been endorsed by world renowned experts Netherland, Sewell &
Associates estimate a 2C contingent recoverable resource in
the Kodiak project that totals 1.2 mmbbl (million
barrels) of ANS crude and c5.4 tcf (trillion cubic feet) of natural
gas. Cawley Gillespie & Associates estimate 2C
contingent recoverable resources for Ahpun's western topset
horizons at 282 mmbbl of ANS crude and 803 bcf of natural
gas. Lee Keeling & Associates estimated possible
reserves and 2C contingent recoverable resources totalling 79 mmbbl
of ANS crude and 424 bcf natural gas.
For more information
visit www.pantheonresources.com.
