OTC Markets Group Welcomes Pantheon Resources Plc to OTCQX

Rhea-AI Summary

Pantheon Resources Plc has successfully upgraded to the OTCQX Best Market from the Pink market, effective September 7, 2022. This upgrade allows PTHRF to offer transparent trading for U.S. investors, meeting high financial standards and compliance with corporate governance. The company, with a 100% working interest in 153,000 acres on the Alaska North Slope, estimates over 23 billion barrels of oil in place. CEO Jay Cheatham expressed optimism regarding enhanced visibility and accessibility to U.S. investors as Pantheon embarks on a crucial phase of its development.

Positive

• Upgraded to OTCQX from Pink market, enhancing trading transparency for U.S. investors.
• Possesses 100% working interest in 153,000 acres with significant oil potential, estimated at over 23 billion barrels.
• Improved visibility and accessibility to U.S. investors expected to support future growth.

Negative

• None.

NEW YORK, Sept. 07, 2022 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for 12,000 U.S. and international securities, today announced Pantheon Resources Plc (AIM: PANR; OTCQX: PTHRF), an oil and gas company with a 100% working interest in all of its projects spanning approximately 153,000 acres adjacent and near to transportation and pipeline infrastructure on the Alaska North Slope, has qualified to trade on the OTCQX® Best Market. Pantheon Resources Plc upgraded to OTCQX from the Pink® market.

Pantheon Resources Plc begins trading today on OTCQX under the symbol “PTHRF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

Jay Cheatham, CEO of Pantheon Resources Plc, commented, “I am delighted to mark this achievement of Pantheon upgrading to OTCQX, the highest tier of OTC Markets. With 100% of our oil and gas assets being located on state land, onshore Alaska, this is the perfect opportunity for the us to be able to increase the accessibility of our stock to U.S. investors and to further increase Pantheon’s visibility at such a key stage in our journey.”

Galanopoulos & Company acted as the company’s OTCQX sponsor.

About Pantheon Resources Plc
Pantheon Resources plc is an AIM listed Oil & Gas company focused on several large projects located on the North Slope of Alaska ("ANS"), onshore USA where it has a 100% working interest in 153,000 highly prospective acres with potential for multi billion barrels of oil recoverable. Pantheon estimates its 100% owned assets to have potential for over 23 billion barrels of oil in place and a recoverable resource of over 2.3 billion barrels of oil. A major differentiator to other ANS projects is its close proximity to transport and pipeline infrastructure which offers a significant competitive advantage to Pantheon, allowing for materially lower capital costs and much quicker development times. The Group's stated objective is to create material value for its stakeholders through oil exploration, appraisal and development activities in high impact, highly prospective conventional assets, in the USA; a highly established region for energy production with infrastructure, skilled personnel and low sovereign risk. All operations are onshore USA, with drilling costs materially below that of offshore wells.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX^® Best Market, OTCQB^® Venture Market and Pink^® Open Market.

Our OTC Link^® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

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Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

Pantheon Resources Plc, +44 (0) 20 7138 3204, pantheon@blytheray.com

FAQ

What is the significance of Pantheon Resources Plc upgrading to OTCQX?

The upgrade to OTCQX signifies enhanced trading transparency for U.S. investors, compliance with high financial standards, and improved visibility in the market.

What is the OTCM stock symbol for Pantheon Resources Plc?

The OTCM stock symbol for Pantheon Resources Plc is 'PTHRF'.

How many acres does Pantheon Resources Plc hold on the Alaska North Slope?

Pantheon Resources Plc holds a 100% working interest in approximately 153,000 acres on the Alaska North Slope.

What is the oil potential estimated by Pantheon Resources Plc?

Pantheon Resources Plc estimates over 23 billion barrels of oil in place within its assets.