Pantheon Resources PLC Announces Exercise of Right to Increase Convertible Bonds
Pantheon Resources (PTHRF) announced that Sun Hung Kai & Co. and its affiliates have exercised their right to increase the aggregate amount of senior convertible bonds from $30.5 million to $35 million. The convertible bonds are due March 2028, with all other terms remaining unchanged from the February 20, 2025 announcement.
The additional funds will be utilized for working capital, expenses, and G&A. According to Chairman David Hobbs, this upsize will provide extra runway for the company to complete flow testing in the Megrez-1 well and prepare for future activities. Pantheon Resources is an AIM-quoted oil and gas exploration company with 100% working interests in projects located adjacent to transportation and pipeline infrastructure on the Alaska North Slope.
Pantheon Resources (PTHRF) ha annunciato che Sun Hung Kai & Co. e le sue affiliate hanno esercitato il loro diritto di aumentare l'importo totale delle obbligazioni convertibili senior da 30,5 milioni di dollari a 35 milioni di dollari. Le obbligazioni convertibili scadranno a marzo 2028, con tutti gli altri termini che rimangono invariati rispetto all'annuncio del 20 febbraio 2025.
I fondi aggiuntivi saranno utilizzati per il capitale circolante, le spese e le spese generali. Secondo il presidente David Hobbs, questo aumento fornirà ulteriore margine di manovra per completare i test di flusso nel pozzo Megrez-1 e prepararsi per le attività future. Pantheon Resources è un'azienda di esplorazione di petrolio e gas quotata all'AIM, con interessi operativi del 100% in progetti situati vicino alle infrastrutture di trasporto e pipeline sulla North Slope dell'Alaska.
Pantheon Resources (PTHRF) anunció que Sun Hung Kai & Co. y sus afiliados han ejercido su derecho a aumentar el monto total de los bonos convertibles senior de 30,5 millones de dólares a 35 millones de dólares. Los bonos convertibles vencen en marzo de 2028, manteniéndose todos los demás términos sin cambios desde el anuncio del 20 de febrero de 2025.
Los fondos adicionales se utilizarán para capital de trabajo, gastos y gastos generales. Según el presidente David Hobbs, este aumento proporcionará un margen adicional para que la empresa complete las pruebas de flujo en el pozo Megrez-1 y se prepare para futuras actividades. Pantheon Resources es una empresa de exploración de petróleo y gas cotizada en AIM, con un 100% de intereses operativos en proyectos ubicados adyacentes a la infraestructura de transporte y tuberías en la Costa Norte de Alaska.
팬테온 리소스 (PTHRF)는 선 홍 카이 & Co.와 그 계열사가 총 senior convertible bonds 금액을 3,050만 달러에서 3,500만 달러로 증가시킬 권리를 행사했다고 발표했습니다. 전환사채는 2028년 3월에 만료되며, 2025년 2월 20일 발표된 다른 모든 조건은 변경되지 않습니다.
추가 자금은 운영 자본, 비용 및 일반 관리비에 사용될 것입니다. 회장 데이비드 홉스에 따르면, 이번 증가는 회사가 메그레즈-1 유정에서 유량 테스트를 완료하고 향후 활동을 준비할 수 있는 추가적인 여유를 제공할 것입니다. 팬테온 리소스는 알래스카 북부 해안의 운송 및 파이프라인 인프라 인근에 위치한 프로젝트에 100%의 운영 이익을 보유한 AIM 상장 석유 및 가스 탐사 회사입니다.
Pantheon Resources (PTHRF) a annoncé que Sun Hung Kai & Co. et ses affiliés ont exercé leur droit d'augmenter le montant total des obligations convertibles senior de 30,5 millions de dollars à 35 millions de dollars. Les obligations convertibles arrivent à échéance en mars 2028, avec toutes les autres conditions restant inchangées par rapport à l'annonce du 20 février 2025.
Les fonds supplémentaires seront utilisés pour le fonds de roulement, les dépenses et les frais généraux. Selon le président David Hobbs, cette augmentation fournira une marge supplémentaire pour que l'entreprise termine les tests de flux dans le puits Megrez-1 et se prépare pour de futures activités. Pantheon Resources est une entreprise d'exploration pétrolière et gazière cotée à l'AIM, avec un intérêt opérationnel de 100 % dans des projets situés à proximité des infrastructures de transport et de pipeline sur la North Slope de l'Alaska.
Pantheon Resources (PTHRF) gab bekannt, dass Sun Hung Kai & Co. und deren Tochtergesellschaften ihr Recht ausgeübt haben, den Gesamtbetrag der Senior-Umwandlungsanleihen von 30,5 Millionen Dollar auf 35 Millionen Dollar zu erhöhen. Die umwandelbaren Anleihen laufen im März 2028 ab, wobei alle anderen Bedingungen unverändert bleiben seit der Ankündigung vom 20. Februar 2025.
Die zusätzlichen Mittel werden für Betriebskapital, Ausgaben und Allgemeine Verwaltungskosten verwendet. Laut dem Vorsitzenden David Hobbs wird diese Erhöhung dem Unternehmen zusätzlichen Spielraum geben, um die Flusstests im Megrez-1-Brunnen abzuschließen und sich auf zukünftige Aktivitäten vorzubereiten. Pantheon Resources ist ein an der AIM notiertes Öl- und Gasexplorationsunternehmen mit 100% Betriebsinteresse an Projekten, die in der Nähe von Transport- und Pipelineinfrastruktur an der North Slope von Alaska liegen.
- Secured additional $4.5M in funding through convertible bonds
- Extended financial runway for Megrez-1 well testing operations
- 100% working interest in Alaska North Slope projects
- Increased debt obligation through convertible bonds
- Potential future shareholder dilution upon bond conversion
Exercise of right to increase the aggregate amount of the Convertible Bonds to US
LONDON, UK / ACCESS Newswire / February 28, 2025 / Pantheon Resources plc ("Pantheon" or the "Company"), the AIM-quoted oil and gas exploration company with
Further to that announcement, the Company is pleased to advise that Convertible Bonds Investor has made the election and exercised that right to increase the offering size of the Convertible Bonds to US
David Hobbs, Chairman of Pantheon Resources, said:
"The upsize of the Convertible Bond will provide additional runway for the Company to complete the flow testing in the Megrez-1 well and prepare for future activities."
For further information, please contact:
UK Corporate and Investor Relations Contact
Pantheon Resources plc
Justin Hondris
contact@pantheonresources.com
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 Pantheon Resources
Pantheon Resources plc is an AIM listed Oil & Gas company focused on developing its
Pantheon's stated objective is to demonstrate sustainable market recognition of a value of
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.
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SOURCE: Pantheon Resources PLC
View the original press release on ACCESS Newswire
FAQ
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