REG - Pantheon Resources - Appointment of Independent Non-Executive Director

Pantheon ResourcesAnnouncement

03/07/2023 09:00

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RNS Number : 7274E  Pantheon Resources PLC  03 July 2023

3 July 2023

 

Pantheon Resources plc

Appointment of an Independent Non-Executive Director

 

Pantheon Resources plc ("Pantheon" or "the Company"), the AIM-quoted oil and
gas company with a 100% working interest in all of its oil projects spanning
c. 193,000 acres adjacent and near to transportation and pipeline
infrastructure on the Alaska North Slope ("ANS"), is pleased to announce the
appointment of Allegra Hosford Scheirer as Non-Executive Director with
immediate effect.

 

Allegra is an internationally recognised expert in petroleum system analysis,
having deployed basin modelling, organic geochemistry, geophysical techniques,
and machine learning to evaluate numerous oil and gas provinces throughout the
world, including the Alaska North Slope. Allegra graduated with a Ph.D. in
marine geology and geophysics from the Massachusetts Institute of Technology
and subsequently worked with the Energy Resources Program at the U.S.
Geological Survey ("USGS"). She has been a scientist at Stanford University
for 15 years.

 

 
David Hobbs, Executive Chairman of Pantheon Resources, said: "We are delighted
to welcome Allegra to the Board as an Independent Non-Executive Director. She
brings a deep knowledge of the Alaskan North Slope Super Basin and a keen
understanding of what it takes to transition from exploration to
exploitation.

 

"We have shared our strategic plan with Allegra and have benefitted from her
input during the process. Her appointment marks the first step of many in our
programme to deliver a sustainable market recognition of $5 - $10 per barrel
of recoverable resource by 2028."

 

 
Commenting on her appointment, Allegra Hosford Scheirer said: "I am very
familiar with the technical programme being prosecuted by Pantheon, having
previously worked closely with Great Bear Petroleum as an independent adviser
and for the USGS. Pantheon has embarked on a strategy that promises to deliver
value to shareholders over the coming months and years and I am excited to
have the opportunity to contribute to the successful governance and
implementation of the programme."

 

Further information in relation to the Director appointment

 

Allegra Hosford Scheirer (aged 51) has confirmed that, other than the
information disclosed below, there are no matters to be disclosed under Rule
17 and paragraph (g) of Schedule 2 of the AIM Rules.

 

As at the date of appointment, Allegra Hosford Scheirer does not hold any
shares in Pantheon.

 

Current Directorships

 

 

Geomodelling Solutions LLC

 
 

-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)
 Henry Fitzgerald-O'Connor, James Asensio, Gordon Hamilton      +44 20 7523 8000

                                                                 

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

 

 

Notes to Editors

Pantheon Resources plc is an AIM listed Oil & Gas company focused on
several large projects located on the North Slope of Alaska ("ANS"), onshore
USA where it has a 100% working interest in 193,000 highly prospective acres
with potential for multi billion barrels of oil recoverable. Pantheon's stated
objective is to deliver a sustainable market recognition of a value
of $5-$10/bbl of recoverable resources by end 2028. This will involve
targeting FID on the Ahpun field by the end of 2025, building production to
20,000 barrels per day of marketable liquids into the Trans Alaska Pipeline
System (TAPS) main oil line through a hot tap, 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
transport and pipeline infrastructure which offers a significant competitive
advantage to Pantheon, allowing for materially lower capital costs and the
ability to support the development with a significantly lower pre-cashflow
funding requirement than is typical outside the US lower 48.

 

 

 

 

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