RCS - Pantheon Resources - Investor Presentation via Investor Meet Company

Pantheon ResourcesAnnouncement

25/06/2024 10:15

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RNS Number : 7883T  Pantheon Resources PLC  25 June 2024

25 June 2024

Pantheon Resources plc

Investor Presentation via Investor Meet Company

 

Pantheon Resources plc (AIM: PANR) ("Pantheon" or "the Company"), the oil and
gas company with a 100% working interest in the Kodiak and Ahpun projects
located in close proximity to pipeline and transportation infrastructure
on Alaska's North Slope, confirms that it will be holding a webinar
presentation and Q&A on Thursday 27 June 2024 at 17:00 BST (the
"Webinar").

 

The Webinar is open to all existing and potential shareholders. Questions can
be submitted pre-event via your Investor Meet Company dashboard up until 26
June 2024, 09:00 BST, or at any time during the live presentation.

 

Investors can sign up to Investor Meet Company for free and add to meet
PANTHEON RESOURCES PLC via:

 

https://www.investormeetcompany.com/pantheon-resources-plc/register-investor
(https://www.investormeetcompany.com/pantheon-resources-plc/register-investor)

 

Investors who already follow PANTHEON RESOURCES PLC on the Investor Meet
Company platform will automatically be invited.

 

About the Webinar

In the Webinar, the management team will provide a corporate update covering
three main topic areas:

1.    An overview of the Company's financing strategy;

2.    The significance of the Gas Sales Precedent Agreement executed this
month with the Alaska Gasline Development Corporation; and

3.    The significance of the recently released Independent Expert Reports
on (a) the Ahpun's Alkaid horizon by Lee Keeling & Associates, Inc., and
(b) the Ahpun western topsets by Cawley Gillespie & Associates, Inc.

ENDS

Further information, please contact:

 Pantheon Resources plc                                                  +44 20 7484 5361

 David Hobbs, Executive Chairman

 Jay Cheatham, Chief Executive Officer

 Justin Hondris, Director, Finance and Corporate Development

 Canaccord Genuity plc (Nominated Adviser and broker)                    +44 20 7523 8000

 Henry Fitzgerald-O'Connor

 James Asensio

 Ana Ercegovic

 BlytheRay                                                               +44 20 7138 3204
 Tim Blythe, Megan Ray, Matthew Bowld

 

 

Notes to Editors

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 more than 1.5 billion barrels of ANS crude and 6.5 Tcf of
associated natural gas.

 

The Company owns 100% working interest in c. 193,000 acres. In December 2023,
Pantheon was the successful bidder for an additional 66,240 acres with very
significant resource potential to the west, reflected in NSAI's Kodiak IER and
prospective resources to the east, contiguous with the Ahpun project.
Following the issue of the new leases, which are expected to be formally
awarded in summer 2024 upon payment of the balance of the application monies,
the Company will have a 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 of 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 recently executed with AGDC foresees natural gas produced into the
planned 807-mile pipeline from the North Slope to Southcentral Alaska during
2029. Should the Company achieve financial self-sufficiency on the Ahpun
project, it will apply the resultant cashflows to support the FID on the
Kodiak field, which, subject to regulatory approvals, is planned by the end
of 2028.

 

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 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 mmbbl of ANS
crude and 5,396 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 804 bcf of natural gas. Lee
Keeling & Associates estimated possible reserves and 2C contingent
recoverable resources totalling 79 mmbbl of ANS crude and 424 bcf.

 

 

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