REG - Pantheon Resources - Final Repayment of Convertible Bonds & Webinar

Pantheon ResourcesAnnouncement

Mon 14:00

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RNS Number : 6246L  Pantheon Resources PLC  15 December 2025

 

15 December 2025

Pantheon Resources plc

 

Final Repayment of Unsecured Convertible Bonds & upcoming webinar

The Board of Pantheon Resources plc (AIM: PANR, OTCQX: PTHRF) ("Pantheon" or
the "Company), the oil and gas company developing the Kodiak and Ahpun oil
fields immediately adjacent to pipeline and transportation infrastructure on
Alaska's North Slope, announces that it has elected to pay (i) the final
quarterly principal repayment of US$2.45 million and (ii) the quarterly
interest payment of US$24,500 (collectively, the "Quarterly Repayment") in
respect of its senior unsecured convertible bonds issued in December
2021 to a fund advised by Heights Capital Ireland LLC, and due December
2025 (the "Convertible Bonds"), through the issuance of new shares. Pursuant
to the terms of the Convertible Bond agreement a total of 10,520,833 new
ordinary shares (the "New Ordinary Shares") will be issued in full settlement
of this Quarterly Repayment. Application is being made to AIM for the
admission to trading of the 10,520,833 New Ordinary Shares which are expected
to admit on or around 19th December 2025 ("Admission").

After settlement of this final Quarterly Repayment, the Convertible Bond will
have been repaid in full, with principal outstanding having been reduced to
nil.

Total Voting Rights

 

Immediately following Admission, the Company's enlarged issued share capital
admitted to trading on AIM will consist of 1,348,117,633 ordinary
shares, with each share carrying the right to one vote. The Company does not
hold any Ordinary Shares in treasury. The total voting rights figure
of 1,348,117,633 may be used by shareholders (and others with notification
obligations) as the denominator for the calculations by which they will
determine whether they are required to notify their interest in, or a change
to their interest in, the Company under the Disclosure Guidance and
Transparency Rules.

 

Update & webinar - Dubhe-1

 

The Dubhe-1 well continues to flowback and remains in the cleanup period.  As
we enter the holiday season, the Company will be hosting a webinar on 23
December 2025 at 17:00 GMT to share results up until that time and to discuss
next steps in further progressing appraisal efforts on the Ahpun field.

 

The presentation is open to all existing and potential shareholders. Questions
can be submitted pre-event via your Investor Meet Company dashboard up
until 22 December 2025, 17:00 GMT, 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.

 

 

 

 

Max Easley, CEO, commented: "I am extremely pleased to report to shareholders
that the Heights bond has now been repaid in full, and as such there are no
further repayments. The Dubhe-1 well continues to flowback and remains in the
cleanup period. We recognise that shareholders are eager learn more about how
the well is progressing, and given the upcoming holiday season we have decided
to host a webinar on 23 December where we will give investors an up to date
overview of the well progress at that time. For now, the well remains in the
cleanup window, consistent with our last update."

-ENDS-

 

 

Further information:

 

 Pantheon Resources plc
 David Hobbs, Chairman                                              contact@pantheonresources.com (mailto:contact@pantheonresources.com)

 Max Easley, Chief Executive Officer

 Justin Hondris, SVP, Investor Relations

 Canaccord Genuity Limited (Nominated Adviser, and Joint Broker)
 Henry Fitzgerald-O'Connor                                          +44 20 7523 8000

 James Asensio

 Charlie Hammond

 Oak Securities (Joint Broker)                                      +44 20 3973 3678
 Jerry Keen

 Nick Price

 BlytheRay (Corporate Communications)                               +44 20 7138 3204
 Tim Blythe

 Megan Ray

 Matthew Bowld

 MZ Group (USA Investor Relations                                   +1 949 259 4987
 Contact)

 Lucas Zimmerman

 Ian Scargill

 

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.

 

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 approximately $5 per barrel 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 807 mile 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 of 79 mmbbl of ANS crude and 424 bcf natural gas.

 

For more information visit www.pantheonresources.com
(http://www.pantheonresources.com) .

 

 

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