REG - Pantheon Resources - Marty Rutherford Appointed to Board of Directors

Pantheon ResourcesAnnouncement

10/06/2025 07:00

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RNS Number : 0945M  Pantheon Resources PLC  10 June 2025

 

 

 

10 June, 2025

 

Pantheon Resources plc

 Pantheon Appoints Respected Alaska Energy Leader

Marty Rutherford to Board of Directors

 

Pantheon Resources plc (AIM: PANR) ("Pantheon" or the " Company"), the oil and
gas company developing the Kodiak and Ahpun oil fields in close proximity to
pipeline and transportation infrastructure on Alaska's North Slope, is pleased
to announce that respected Alaska energy leader Marty Rutherford has been
appointed to the Company's Board as a Non-Executive Director. She will be
formally appointed following the Board Meeting on 13 June, 2025.

 

Marty Rutherford is a fifth generation Alaskan. Marty returned to Alaska after
graduating college in the late 1970s, and held a variety of jobs in Valdez,
Fairbanks, and Anchorage. In 1982, she began working at the Alaska Department
of Community and Regional Affairs (DCRA), eventually being appointed the
Deputy Commissioner. In 1992, Marty moved to the Alaska Department of Natural
Resources (DNR), where she was appointed Deputy Commissioner in 1993 and
remained there through 2005. In that role Marty oversaw the State's management
of its natural resources including oil and gas, mining, water, parks, etc.

 

Marty resigned her position in 2005, but was re-instated as Deputy
Commissioner of DNR in 2006 under Governor Palin, leading the gasline effort
as well as the oil and gas policy teams. In 2011, Marty left state service and
went to work for Linc Energy, an Australian company exploring for oil on the
North Slope and natural gas in Cook Inlet. However, in 2014, Marty was once
again appointed Deputy Commissioner of DNR and also served as acting
Commissioner for an extended time, a position she had held numerous times over
her years at DNR. In 2016, Marty retired from DNR and served a term as a
Trustee of the Alaska Permanent Fund.

 

The appointment of Ms. Rutherford is another key step in the development of
the Board to best manage the challenges ahead on the path to oil and gas
production and financial self-sufficiency. At the same time, as previously
announced, Bob Rosenthal will be retiring from Pantheon and stepping down from
the Board of Directors.

 

David Hobbs, Executive Chairman of Pantheon Resources, commented: "We are
delighted to welcome Marty Rutherford as a member of the Board of Directors.
Pantheon will benefit from her more than 40 years of experience in policy
roles, particularly her time in the DNR working to advance the construction of
a gas pipeline for commercialisation of Alaska's North Slope gas. Her deep
expertise, coupled with strategic judgment and policy track record, make her
the ideal addition to our Board."

Marty Rutherford said: "I am delighted to have the opportunity to join the
Board of Pantheon as it faces critical decisions on developing its resources
for the benefit of both shareholders and Alaskan stakeholders. It will be
especially exciting to help bring the dream of a gas pipeline from Alaska's
North Slope to fruition."

Further information on Marty Rutherford's appointment:

The following details in relation to the appointment of Marty Rutherford are
disclosed in accordance with AIM Rule 17 and Schedule 2(g) of the AIM Rules:

 

Marty Kelsey Rutherford (aged 73) has held the following directorships and/or
partnerships in the past five years:

 

 Current directorships or partnerships          Previous directorships or partnerships
 Bettisworth North Architects and Planners Inc  Alaska Permanent Fund Corporation
 The John Thomas Kelsey Irrevocable Trust       The Robert Duncan Kelsey Irrevocable Trust

 

There is no further information to be disclosed in relation to Marty
Rutherford's appointment pursuant to AIM Rule 17 or Schedule Two, paragraph
(g) (i)-(viii) of the AIM Rules for Companies.

 

-ENDS-

 

For further information, please contact:

 

UK Corporate and Investor Relations Contact
Pantheon Resources plc

Justin Hondris

+44 20 7484 5361
contact@pantheonresources.com (about:blank)

 

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:blank)

 

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 (trillion cubic feet) 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 Alaska LNG project, now operated
by Glenfarne - its 75% owner, is now undergoing Front End Engineering Design.
The May 2024 Gas Sales Precedent Agreement provides the potential for
Pantheon's natural gas to be produced into the proposed 807 mile pipeline from
the North Slope to Southcentral Alaska, potentially during 2028. 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 (million barrels) of ANS
crude and 5,396 bcf (billion cubic feet) 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.

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

 

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