REG - Pantheon Resources - Notice of AGM

Pantheon ResourcesAnnouncement

14/02/2025 12:45

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RNS Number : 2237X  Pantheon Resources PLC  14 February 2025

 

 

 

 

 

 

 

14 February 2025

 
Pantheon Resources plc
Notice of AGM and Posting of Hard Copy Annual Report and Accounts

 

Pantheon Resources plc (AIM:PANR, OTCQX: PTHRF) ("Pantheon" or the "Company"),
an oil and gas company developing the Kodiak and Ahpun oil fields in close
proximity to pipeline and transportation infrastructure on Alaska's North
Slope, announces that the hard copy Annual Report & Accounts for the year
ended 30 June 2024, together with the Notice of Annual General Meeting ("AGM")
is being posted to shareholders today.

 

The Annual Report & Accounts have been made available on the Company's
website, www.pantheonresources.com, since being published on 9(th) December
2024,  and the Notice of AGM will now also be uploaded.

 

The Company's Annual General Meeting will be held on Wednesday 12th March 2025
at 3:00 pm GMT at the offices of Simmons & Simmons, CityPoint, 1 Ropemaker
St, City of London, London EC2Y 9SS.

The Company's AGM is later than in previous years in order for a Resolution to
be included regarding the appointment of Grant Thornton as the Company's
auditor. The proposed appointment of Grant Thorton is in line with the
Company's stated strategy to pursue a US stock market listing.

 

 

-Ends-

 

For further information, please contact:

 

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)

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 Gas Sales Precedent Agreement
signed with AGDC (Alaska Gasline Development Corporation) provides the
potential for Pantheon's natural gas to be produced into the proposed 807 mile
natural gas pipeline from the North Slope to Southcentral Alaska. 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 totals 1.2 mmbbl (million barrels) of
ANS crude and c5.4 tcf (trillion 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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