RCS - Pantheon Resources - Appointment of Leading Investor Relations Advisor

Pantheon ResourcesAnnouncement

29/10/2024 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241029:nRSc9456Ja&default-theme=true

RNS Number : 9456J  Pantheon Resources PLC  29 October 2024

 

29 October 2024

 

Pantheon Resources plc

Pantheon Resources Engages Leading Investor Relations Advisor to aid Growth
Capital Formation Initiatives

Pantheon Resources plc (AIM:PANR) ("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 ("ANS"),
today announced that is has appointed MZ Group ("MZ"), a corporate &
financial communications advisor to upgrade its USA presence in line with its
stated strategy.

MZ Group will lead a strategic investor relations and financial communications
programme with a particular focus on North America. MZ Group is working
closely with Pantheon management to develop and implement a comprehensive
capital markets strategy designed to increase the Company's visibility
throughout the investment community. The MZ team is advising Pantheon
regarding corporate and financial communications, including the coordination
of non-deal roadshows and investment conferences across key USA cities and
building brand awareness with financial and social media outlets.

David Hobbs, Executive Chairman of Pantheon Resources, commented: "Pantheon is
now transitioning to an exciting new phase for the Company's development. With
the step up in activity and the more solid underpinnings resulting from the
independent validation of the resource base and development plans, it is the
right time to accelerate Pantheon's marketing to USA stakeholders. Our
near-term operational focus is progressing definition of our Ahpun project,
including the soon to spud Megrez-1 well, to progress the regulatory approvals
for field development. Our strategic target remains to achieve sustainable
market recognition of $5-10/bbl for our discovered contingent recoverable
resource of c. 1.6 billion barrels of marketable liquids by the end of 2028."

About MZ

MZ North America is the USA division of MZ Group, a global leader in investor
relations with over 250 employees, 800 clients across 12 different exchanges.
For over 25 years, MZ has implemented award winning programmes and developed a
reputation for delivering tangible results for public and private companies
via strategic communications, industry-leading investor outreach, public
relations, a market intelligence desk, and a suite of technology solutions,
spanning websites, conference call/webcasting, video production and XBRL/Edgar
filing services. MZ maintains a global footprint with professionals located
throughout every time zone in North America, as well as Taipei and São Paulo.
For more information, please visit www.mzgroup.us (http://www.mzgroup.us) .

 

For further information, please contact:

Corporate Contact
Pantheon Resources plc

Justin Hondris

+44 20 7484 5361
contact@pantheonresources.com (mailto: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

 

Investor Relations Contact

MZ Group

Lucas Zimmerman, Ian Scargill

+1 949 259 4987
PTHRF@mzgroup.us (mailto: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 trillion cubic feet (Tcf) 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 Final Investment Decision ("FID") and
producing into the Trans-Alaska Pipeline System (TAPS) main oil line (ANS
crude) by the end of 2028. The Gas Sales Precedent Agreement signed with the
Alaska Gasline Development Corporation (AGDC) provides the potential for
Pantheon's natural gas to be produced into the proposed 807 mile pipeline from
the North Slope to Southcentral Alaska during 2029. 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 total 1,208 million barrels ("mmbbl") of
ANS crude and 5,396 billion cubic feet ("bcf") 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
(http://www.pantheonresources.com) .

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAFZMZGLRLGDZM