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RNS Number : 5306A Pantheon Resources PLC 23 January 2024
23 January 2024
Pantheon Resources plc
Annual General Meeting
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,
collectively spanning 193,000 contiguous acres in close proximity to pipeline
and transportation infrastructure on Alaska's North Slope, is pleased to
confirm that its Annual General Meeting ("AGM") will be held on Wednesday
24(th) January 2024 at 3:00pm GMT.
The AGM will be held at the offices of Shakespeare Martineau LLP, 6th Floor,
60 Gracechurch Street, London EC3V 0HR, on 24 January 2024 at 3:00 pm GMT.
The Company advises that the formal business of the AGM and shareholder
presentation will be held as separate and individual events, with only the
formal business set out in the notice of meeting being considered at the AGM.
A shareholder presentation and Q&A webinar will take place on the same day
at 3:30pm GMT, available to view live via Investor Meet Company (registration
details below), to allow for attendance for shareholders located in all
regions and countries.
Post AGM Investor Presentation Webinar
The shareholder presentation and Q&A will be held later that same day as a
webinar, through the Investor Meet Company platform at 3:30pm GMT on 24
January 2024. Should any shareholders attend the AGM in person, they will be
able to remain at the venue to attend the webinar.
All shareholders and other interested parties are welcome to take part.
Registration details can be accessed
at https://www.investormeetcompany.com/pantheon-resources-plc/register-investor
(https://www.investormeetcompany.com/pantheon-resources-plc/register-investor)
.
Questions can be submitted pre-event up until 9am the day before the webinar
or at any time during the live presentation.
For regulatory and compliance reasons, Pantheon will not engage on social
media and any questions that investors or others may have outside of a
scheduled webinar should be addressed to contact@pantheonresources.com
(mailto:contact@pantheonresources.com) where your questions will be
responded to in a timely manner.
-ENDS-
Further information, please contact:
Pantheon Resources plc +44 20 7484 5361
David Hobbs, Executive Chairman
Jay Cheatham, CEO
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 the Ahpun and Kodiak fields located on state land on the Alaska
North Slope ("ANS"), onshore USA, where it has a 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, contiguous
to the Ahpun and Kodiak projects. 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. Certified contingent resources attributable to these
projects exceeds 1 billion barrels of marketable liquids, located adjacent
to Alaska's Trans Alaska Pipeline System ("TAPS").
Pantheon's stated objective is to demonstrate sustainable market recognition
of a value of $5-$10/bbl of recoverable resources by end 2028. This will
require targeting Final Investment Decision ("FID") on the Ahpun field by the
end of 2025, building production to 20,000 barrels per day of marketable
liquids into the TAPS main oil line, and applying the resultant cashflows to
support the FID on the Kodiak field 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.
The Company's project portfolio has been endorsed by world renowned
experts. Netherland, Sewell & Associates ("NSAI") estimate a 2C
contingent recoverable resource in the Kodiak project that total 962.5
million barrels of marketable liquids and 4,465 billion cubic feet of natural
gas. NSAI is currently working on estimates for the Ahpun Field.
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