REG - Pantheon Resources - Director Dealing

Pantheon ResourcesAnnouncement

27/03/2025 10:15

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RNS Number : 5031C  Pantheon Resources PLC  27 March 2025

27 March 2025

 

Pantheon Resources plc

Director Dealing

 

Pantheon Resources plc ("Pantheon" or "the Company"), the AIM-quoted oil and
gas exploration company with 100% working interests in the Ahpun and Kodiak
projects spanning 258,000 acres adjacent to transportation and pipeline
infrastructure on the Alaska North Slope, announces the following on market
director purchases:

1.    Jeremy Brest, non-executive director, has purchased 1,084,929 shares
on market at an average price of £0.6918 per share. Following the purchase
his ultimate beneficial ownership increases to 3,849,679 shares, representing
0.33% of the Company's total voting rights.

2.    Linda Havard, non-executive director, has purchased 21,000 shares on
market at an average price of £0.704 per share. Following the purchase her
ultimate beneficial ownership increases to 118,559 shares, representing 0.01%
of the Company's total voting rights.

This announcement, including the notification below, is made in accordance
with the requirements of the EU Market Abuse Regulation.

Details of the transaction are reported in the PDMR Notification below:

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated

 a)  Name                                                         a. Jeremy Brest

                                                                  b. Linda Havard
 2   Reason for the notification

 a)  Position/status                                              a. Non-Executive Director

                                                                  b. Non-Executive Director

 b)  Initial notification/Amendment                               Initial Notification

 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Pantheon Resources plc

 b)  LEI                                                          213800SWHY5DNQS64J23

 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted

 a)  Description of the financial instrument, type of instrument  Ordinary shares of 1 pence each fully paid

                                                                  ISIN: GB00B125SX82

 c)  Currency                                                     GBP
 d)  Price(s) and volumes(s)                                      Price(s)                     Volume(s)

     a.   £0.6918                                                                              a.   1,084,929

     b.   £0.704                                                                               b.   21,000

 e)  Aggregated information

     -      Aggregated volume

     -      Price

                                                                  As above
 f)  Date of the transaction                                      25 March 2025 and 26 March 2025
 g)  Place of the transaction                                     London Stock Exchange - AIM market

 

-ENDS-

 

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 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 FID and producing into the TAPS main
oil line (ANS crude) by the end of 2028. The Gas Sales Precedent Agreement
signed with AGDC provides the potential for Pantheon's natural gas to be
produced into the proposed 807mile 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 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 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.

 

 

Further information:

 

UK Corporate and Investor Relations Contact
Pantheon Resources plc

Justin Hondris
contact@pantheonresources.com (about%3Ablank)

 

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

 

USA Investor Relations Contact

MZ Group

Lucas Zimmerman, Ian Scargill

+1 949 259 4987
PTHRF@mzgroup.us (about%3Ablank)

IMPORTANT INFORMATION

This Announcement is released by Pantheon Resources plc and contains inside
information for the purposes of Article 7 of UK MAR. It is disclosed in
accordance with the Group's obligations under Article 17 of UK MAR.

Neither the content of the Company's website nor any website accessible by
hyperlinks on the Company's website is incorporated in, or forms part of, this
Announcement.

 

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