Pantheon Resources PLC Announces Result of Annual General Meeting

Rhea-AI Summary

Pantheon Resources (AIM:PANR)(OTCQX:PTHRF), an oil and gas company focused on developing the Kodiak and Ahpun oil fields on Alaska's North Slope, has announced that all resolutions were successfully passed at their Annual General Meeting (AGM) held on March 12, 2025. The company's operations are strategically positioned near existing pipeline and transportation infrastructure. A detailed breakdown of the voting results will be made available on the company's website.

LONDON, UK / ACCESS Newswire / March 12, 2025 / 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, is pleased to announce that at the Annual General Meeting ("AGM"), held today, all resolutions were duly passed. A breakdown of the votes will be available shortly on the Company's website.

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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 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.

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SOURCE: Pantheon Resources PLC

View the original press release on ACCESS Newswire

FAQ

What was the outcome of Pantheon Resources (PTHRF) March 2025 AGM?

All resolutions were successfully passed at Pantheon Resources' Annual General Meeting held on March 12, 2025.

Where are Pantheon Resources' (PTHRF) main oil field assets located?

Pantheon Resources operates the Kodiak and Ahpun oil fields on Alaska's North Slope, positioned near existing pipeline and transportation infrastructure.

When will PTHRF release the detailed voting results from the 2025 AGM?

The detailed breakdown of votes will be made available on the company's website shortly after the March 12, 2025 AGM.

Which stock exchanges is Pantheon Resources (PTHRF) listed on?

Pantheon Resources trades on the AIM market (PANR) and the OTCQX market (PTHRF).