REG - Pantheon Resources - AGM Arrangements & Corporate Update

Pantheon ResourcesAnnouncement

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RNS Number : 1370T  Pantheon Resources PLC  16 February 2026

16 February 2026

 

Pantheon Resources plc

 

AGM Arrangements & Corporate Update

 

Pantheon Resources plc (AIM:PANR, OTCQX: PTHRF) ("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 provide the following update.

 

AGM arrangements

The Company's AGM will be held virtually on Thursday, 12 March 2026 at 3:00
pm GMT. The meeting will be hosted by Computershare and chaired in person from
Pantheon's Houston office at 2603 Augusta Drive, Suite 1080, Houston, Texas
77057. Registered shareholders will have full voting functionality.

A separate investor presentation and Q&A to be held as a webinar (details
below) will follow at 4:00 pm GMT, open to all shareholders and the wider
public.

Further details on the logistics for this year's AGM are set out in the Notice
of AGM which will be made available on the Shareholder Documents section of
the Company's website and is expected to be posted to registered holders by
close of business tomorrow.

 

Board Update

Following the AGM, David Hobbs will transition from Executive Chair to
Non‑Executive Chair, in line with previous guidance.

The Company also announces that Allegra Hosford Scheirer has stepped down
from the Board, effective 13 February 2026, and will not seek re‑election.
The Board thanks Allegra for her significant contributions, particularly her
leadership in subsurface geology.

Commenting on the changes, David Hobbs said: "On behalf of the Board, I would
like to express our sincere appreciation to Allegra for her invaluable
contribution over the past two and a half years and her foundational
contribution to the exploration programme from the early days of Great Bear
Petroleum. Her world‑class expertise has been instrumental as we advanced
our understanding of the geology. As we shift our focus toward engineering
execution, we will continue to align Board composition with the Company's
evolving needs.

"As I transition to Non‑Executive Chair, I do so with full confidence in our
strong executive team and the exciting pathway ahead."

Operational Update

The Company is pleased to announce that it has formally commenced seismic
reprocessing focused on the north west section of the Company's Kodiak
project, updip from the Theta West-1 discovery well.  The Theta-West-1 well
was previously reported by Wood Mackenzie as being the fourth largest
discovery well globally in 2022, and the largest onshore discovery well
globally in 2022. The Company is performing preliminary activities for a
potential Theta West-2 appraisal well, with timing and execution subject to
funding, permitting, and operational considerations.

 

Additionally, the Company is pleased to report that it will be hosting a booth
at the 2026 NAPE (North American Prospect Expo) event from 18 - 20 February.
This is a major event in the North American energy industry and Pantheon will
have an opportunity to present its projects to a new audience and to network
with other industry participants.

 

Webinar details

The post‑AGM investor webinar presentation and Q&A will be open to all
existing and potential shareholders and will be hosted on the Investor Meet
Company platform commencing at 4:00pm GMT. Pre‑registration is available
at:
https://www.investormeetcompany.com/pantheon-resources-plc/register-investor
(https://www.investormeetcompany.com/pantheon-resources-plc/register-investor)
. A copy of the presentation will be made available on the Company's website
prior to the meeting.

Shareholders already following Pantheon on the 'Investor Meet Company'
platform will receive an automatic invitation.

 

 

-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

 Charlie Hammond

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

 BlytheRay (Corporate Communications)                               +44 20 7138 3204
 Tim Blythe                                                         pantheon@blytheray.com (mailto:pantheon@blytheray.com)

 Matthew Bowld

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

 Lucas Zimmerman

 Ian Scargill

 

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. This is
based on bringing the Ahpun field to FID and first production into the TAPS
main oil line (ANS crude). 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. The Company intends to apply cashflows from Ahpun to support the FID for
the Kodiak field.

 

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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