REG - Pantheon Resources - Participation in Conference and Update on Dubhe-1

Pantheon ResourcesAnnouncement

12/11/2025 07:00

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RNS Number : 1433H  Pantheon Resources PLC  12 November 2025

12 November 2025

Pantheon Resources plc

Participation in 46th Annual Alaska Resources Conference and Operational
Update on Dubhe-1

 

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 Max Easley, Pantheon's Chief Executive Officer,
will be attending the upcoming 46th Annual Alaska Resources Conference on
November 13, 2025.

Max will be participating in the Oil and Gas Industry Update Panel, planned
for:

Date: Thursday, November 13, 2025

Time: 2:30 p.m. Alaska time

Location: Third Floor, Dena'ina Center | Anchorage, Alaska

Operational Update:

Well clean-up operations are ongoing at Dubhe-1. It remains early in the
flowback process with, as expected, initial production overwhelmingly
dominated by previously injected stimulation fluids. Thus far, only 20% of the
injected water has been recovered with steady gas production and intermittent
production of light oil. It is anticipated that the well will continue to
clean up in the coming weeks before a representative rate can be determined
from the reservoir.

Max Easley, Chief Executive Officer, commented: "I look forward to
participating in the Alaska Resources Conference and engaging with industry
participants as we advance development on the North Slope. With the successful
completion of the Dubhe-1 stimulation and ongoing well clean-up operations, we
are entering an important phase in demonstrating the commercial potential of
Ahpun. I welcome the opportunity to share our industry insights with the
broader Alaska resource community, and we will be providing the market with
separate updates in due course as we progress through the ongoing testing
programme."

 

Registration is required for conference participation. For more information,
please contact MZ Group at PTHRF@mzgroup.us.

For further information, please contact:

Further information:

 

 Pantheon Resources plc
 David Hobbs, Chairman                                              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

The information contained within this Announcement is deemed by Pantheon
Resources PLC to constitute inside information as stipulated under the Market
Abuse Regulation (EU) No. 596/2014 as it forms part of UK law by virtue of
the European Union (Withdrawal) Act 2018 ("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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