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

Pantheon ResourcesAnnouncement

12/12/2023 07:15

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RNS Number : 3981W  Pantheon Resources PLC  12 December 2023

12(th) December, 2023

Pantheon Resources plc

Appointment of Linda Havard as Independent Non-Executive Director

 

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
announce the appointment of Linda Havard as Non-Executive Director with effect
from 1(st) January, 2024.

 

Linda Havard joins the Board as a Non-Executive Director. Linda has more than
35 years of experience as a financial and operating executive in public oil
and gas and entertainment companies as well as professional services firms.
She most recently served as Chief Financial Officer of Gensler, the world's
largest architecture and design firm, where she was responsible for all
aspects of finance, including strategic finance, treasury, accounting, tax,
internal audit, financial planning and analysis, capital budgeting, business
systems and procurement for the firm's global operations.

 

Prior to joining Gensler, Linda served for six years as Chief Financial
Officer at the global law firm of Orrick, Herrington & Sutcliffe, 13 years
as Executive Vice President and Chief Financial Officer of Playboy Enterprises
and 15 years at Atlantic Richfield Company (ARCO) (now BP Amoco), where she
headed Corporate Planning and Investor Relations, among other senior
positions. During her tenure at ARCO, Linda was a member of the Lyondell
Petrochemical Company Board, serving on its Finance & Audit Committee.

 

Linda holds an MBA in Finance from the University of California at Los Angeles
(UCLA) and a PhD (honoris causa) in Business from the Chicago School of
Professional Psychology. She is a member of the  Atlanta  Federal Reserve
Board CFO Panel, the International Women's Forum, and the Governing Body of
the CFO Executive Summit. Linda will chair Pantheon's Finance, Audit &
Risk Committee.

 

David Hobbs, Executive Chairman of Pantheon Resources, said: "We are delighted
to welcome Linda to the Board as an Independent Non-Executive Director and as
Audit Committee Chair. She brings a deep expertise in finance and qualifies as
a Financial Expert for regulatory purposes as part of our transition
programme, leading to a US listing in 2025.

 

"Her appointment marks another important step - strengthening our governance -
in our strategy to deliver sustainable market recognition of $5-$10 per barrel
of recoverable resources by 2028. Satisfying the requirement for at least two
Independent Non-Executive Directors removes another barrier to attracting
institutional investors onto the Company's share register."

 

Commenting on her appointment, Linda Havard said: "I am excited to join
Pantheon's Board of Directors and look forward to working with the Board and
Executive team to bring the Company's significant Alaska North Slope resources
to production. I am eager to actively contributing to the Company's achieving
a US listing as Chair of the Audit Committee of the Board."

 

Further information in relation to the Director appointment

 

Linda Havard (aged 68) (former surnames of Goldstien; Kunert) 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.

 

Current Trusteeship: Havard Family Trust

Directorship in last 5 years: M. Arthur Gensler & Associates

 

As at the date of appointment, Linda Havard does not hold any shares in
Pantheon.

 

 

-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
193,000 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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