Tillkännagivande • Mar 12
Pantheon Resources plc Announces Stand Down of Executive Directors Pantheon Resources plc announced the decision of David Hobbs to stand down as both Chairman and as a Director of the Company at the close of the AGM. Furthermore, Jeremy Brest will also stand down as Non-Executive Director at the close of the AGM, and Resolution 2 in the Notice of AGM will no longer be put to shareholders. Tillkännagivande • Mar 06
Pantheon Resources plc Announces Resignation of Linda Havard from the Board, Effective 5 March 2026 Pantheon Resources plc announced that Linda Havard has chosen to step down from the Board, effective March 5, 2026, in order to pursue other professional and personal opportunities, and will not seek re-election at the upcoming AGM. The Board thanks Linda for her significant contributions, particularly her leadership of the Finance, Audit and Risk Committee, and in her role as Senior Non-Executive Director. Tillkännagivande • Feb 05
Pantheon Resources Plc, Annual General Meeting, Mar 12, 2026 Pantheon Resources Plc, Annual General Meeting, Mar 12, 2026. Tillkännagivande • Jan 15
Pantheon Resources Plc has completed a Follow-on Equity Offering in the amount of £7.434677 million. Pantheon Resources Plc has completed a Follow-on Equity Offering in the amount of £7.434677 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 106,209,678
Price\Range: £0.07
Transaction Features: Subsequent Direct Listing Tillkännagivande • Dec 16
Pantheon Resources plc Announces Retirement of Jay Cheatham as Non-Executive Director, Effective December 12, 2025 Pantheon Resources Plc announced that Jay Cheatham, Non-Executive Director formally retired at a meeting of the board of directors on 12 December, 2025. Jay joined the Board in 2008 and served as Chief Executive Officer until early in 2025, and since stepping down as CEO he continued to serve as a Non-Executive Director. His leadership, commitment, and experience have played a central role in shaping the Group over more than 17 years. Tillkännagivande • Nov 12
Pantheon Resources plc Announces Operational Update on Dubhe-1 Pantheon Resources Plc provided operational update on Dubhe-1. 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. Tillkännagivande • Sep 12
Pantheon Resources Plc has completed a Follow-on Equity Offering in the amount of £22.140222 million. Pantheon Resources Plc has completed a Follow-on Equity Offering in the amount of £22.140222 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 79,726,389
Price\Range: £0.25
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 8,834,498
Price\Range: £0.25
Transaction Features: Subsequent Direct Listing Tillkännagivande • Aug 18
Pantheon Resources plc Announces Results from the Dubhe-1 Appraisal Well Pantheon Resources plc announced results from the Dubhe-1 appraisal well. The primary target of Dubhe-1 was the topset horizon (SMD-B), appraising the already discovered resource. Additionally, the well was designed to encounter three further exploration horizons (Prince Creek, SMD-C and the Slope Fan System), none of which have previously had any resource estimate attributed to them. Logs confirm additional prospective resource upside in these horizons. The Dubhe-1 pilot hole was successfully drilled, logged and cored to a total measured depth ("MD") of 12,833 ft, equivalent to 8,699 ft true vertical depth ("TVD"). Analysis of the thickness and quality of the primary target topset confirms that the SMD-B has exceeded the upside pre-drill expectations. The gross thickness of the hydrocarbon column in this interval was measured at 565 ft true vertical thickness ("TVT"); exceeding pre-drill expectations by 26%; Dubhe-1 also encountered additional hydrocarbon bearing horizons in two of the exploration targets; the SMD-C and two Slope Fans. The Company intends to drill, and subsequently flow test the planned sidetrack lateral in the SMD-B horizon to refine the production well type curve; Dubhe-1 Well: Phase 1 Outcome The first phase of the Dubhe-1 well programme consisted of a deviated pilot hole to gather cores and logs to select the optimum landing zone for a subsequent lateral sidetrack in the primary SMD-B zone. The well successfully reached the planned TVD and achieved all planned target reservoir penetrations - both primary and exploration objectives. Dubhe-1 has confirmed a gross 565 ft TVT hydrocarbon bearing column in the SMD-B primary target horizon. This exceeds the pre-drill estimate (450 ft TVT based on Pipeline State#1 offset) by 26% and the upper end of pre-drill estimates (up to 500 ft TVT) by 13%. Reservoir properties are consistent with the nearby Pipeline State #1 discovery well. The hydrocarbon mix between oil, NGLs and gas will be determined after flow testing Additional hydrocarbon bearing zones were encountered in the SMD-C and 2 Slope Fans. These horizons were not included in the Ahpun estimated contingent resources of 282 million barrels and 804 billion cubic feet, prepared by Cawley Gillespie & Associates and therefore these resources represent material upside potential as co-development opportunities alongside the established Ahpun SMD-B primary reservoir. Details of Appraisal Analysis: Preliminary analysis indicates that Dubhe-1 has intersected multiple hydrocarbon bearing horizons over approximately 2,143 ft MD (1,085 ft TVT). In addition to the primary SMD-B objective of the well, multiple reservoirs were penetrated in this overall section consisting of interbedded sands and shales. Integrated analysis indicates the following hydrocarbon bearing zones within the Campanian interval: Formation Gross Pay Interval (MD ft) Gross Pay Interval (TVD ft) Thickness (TVT ft) SMD-C 10,597- 10,715 7,565 - 7,625 60 SMD-B (primary target objective) 11,051 - 12,051 - 12,162 7,795 - 8,360 565 Slope Fan 1 12,460 - 12,530 - 8,510 - 8,546 36 Slope Fan 2 12,630 - 12,630 - 8,597 - 8650 53 In addition to these results, hydrocarbons were also identified in the Maastrichtian interval (Prince Creek and Upper Schrader Bluff Topsets 1 and 3) with a gross thickness of 1,158 ft TVT, in line with those same horizons encountered in Megrez-1. Preliminary analysis indicates similar reservoir properties and the results will be combined with the data from Megrez-1 for further technical evaluation and potential associated long term development planning if warranted. The Company is presently finalising the optimum location to position the optimum location to position the lateral section of the well within this thick 565ft TVT section of SMD-B horizon. Drilling of this lateral is expected to commence over the coming days. In addition to the coming days. Drilling of this lateral was expected to commence over the coming day. In addition to the coming weeks. In addition to commence over the coming days". In addition to commence over the company is expected to the coming days. In addition of this lateral is expected to the coming days; In addition to commence over the comes to commence over the coming days; Drilling of the coming days. Tillkännagivande • Jul 10
Pantheon Resources plc Announces Operating Update Pantheon Resources plc announced that the Nabors 105AC rig is contracted and is currently mobilising to the Dubhe-1 pad. The Dubhe-1 well is an appraisal well targeting the Ahpun Topset (pre previously referred to as the Shelf Margin Deltaic-B ("SMD-B") horizon as the primary target. In June 2024, the Independent Experts Report ("IER") by Cawley Gillespie & Associates ("CG&A") estimated 2C Contingent Resources for the Ahpun Topsets of 282 million barrels of Marketable Liquids (ANS Crude) and 804 billion cubic feet ("BCF") of natural gas. Dubhe-1: Objectives: Progress the Ahpun Topset development (CG&A estimate (10 June 2024) of 282 mmbbls 2C liquid resources and NPV10 $1.7 billion (at $80 oil)) (1); Assess the main topset reservoir horizon (SMD-B) in order to plan optimum production laterals; Penetrate additional potential pay zones (Lower Prince Creek, SMD-C and a Slope Fan) The Company is planning for a potential lateral completion and long term flow test, which, if undertaken, would be intended to prove deliverability of oil and pipeline-quality associated gas. The planned oil production is the main value driver of any development while the associated gas and its value in the Alaska LNG Phase 1 Project supports the financing strategy. The Directors believe that the Dubhe-1 well will generate important news flow over coming months as well as potentially supporting Independent Expert Report resource and valuation upgrades based on the following: The pre-drill prognosis indicates that the target zone at Dubhe-1 has the potential to be thicker than Pipeline State#1 and Talitha-A; Any confirmation of increased thickness would add to the potential drilling inventory (e.g. via " wine-racking"); and Expected penetration of three additional exploration targets (Lower Prince Creek, SM D-C and a Slope fan) not included in the independent resource estimates. Tillkännagivande • Jul 08
Pantheon Resources Plc has completed a Follow-on Equity Offering in the amount of £16.25 million. Pantheon Resources Plc has completed a Follow-on Equity Offering in the amount of £16.25 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 76,832,151
Price\Range: £0.2115
Transaction Features: Subsequent Direct Listing Tillkännagivande • Jun 10
Pantheon Resources plc Appoints Marty Rutherford as A Non-Executive Director, Effective 13 June 2025 Pantheon Resources plc announced that Marty Rutherford has been appointed to the company's board as a non-executive director. She will be formally appointed following the Board Meeting on 13 June 2025. Marty Rutherford is a fifth generation Alaskan. Marty returned to Alaska after graduating college in the late 1970s, and held a variety of jobs in Valdez, Fairbanks, and Anchorage. In 1982, she began working at the Alaska Department of Community and Regional Affairs (DCRA), eventually being appointed the Deputy Commissioner. In 1992, Marty moved to the Alaska Department of Natural Resources (DNR), where she was appointed Deputy Commissioner in 1993 and remained there through 2005. In that role Marty oversaw the State's management of its natural resources including oil and gas, mining, water, parks, etc. Marty resigned her position in 2005, but was re-instated as Deputy Commissioner of DNR in 2006 under Governor Palin, leading the gasline effort as well as the oil and gas policy teams. In 2011, Marty left state service and went to work for Linc Energy, an Australian company exploring for oil on the North Slope and natural gas in Cook Inlet. However, in 2014, Marty was once again appointed Deputy Commissioner of DNR and also served as acting Commissioner for an extended time, a position she had held numerous times over her years at DNR. In 2016, Marty retired from DNR and served a term as a Trustee of the Alaska Permanent Fund. The appointment of Ms. Rutherford is another key step in the development of the Board to best manage the challenges ahead on the path to oil and gas production and financial self-sufficiency. At the same time, as previously announced, Bob Rosenthal will be retiring from Pantheon and stepping down from the board of directors. Tillkännagivande • Apr 14
Pantheon Resources plc Announces Preliminary Results from the Flow Testing of the First of Six Intervals At Megrez 1 Pantheon Resources plc announced preliminary results from the flow testing of the first of six intervals in the planned Megrez-1 well testing programme. The well was fracture stimulated in the Topset 1 ("TS1") reservoir interval over some 290 feet ("ft") from 7165 ft to 7453 ft MD. The well was produced for 12 days delivering sustained strong liquid rates, exceeding 1,000 barrels per day at the end of the flow back period, no appreciable hydrocarbons were produced from the well. Preliminary analysis indicates that although the reservoir is oil bearing, it appears to be in a transition zone with limited to no mobile oil and gas. The technical data gathered increases confidence in the productivity and hydrocarbon potential of the intervals higher in the wellbore and indicates mobile oil will be found in the shallower stratigraphic sequences. TS1 will be abandoned and well operations to test the next interval (Lower Prince Creek) will commence as soon as high-pressure pumping equipment is mobilised to the Megrez pad. The TS1 interval was fracture stimulated in two stages to maximise the productivity potential of the well. These stimulations were successfully executed, and the well was brought on production on 3 April 2025. The well initially produced strongly against a 30/64 inch choke and the well was gradually increased to a final rate of over 1,000 barrels per day. During the 12 day testing programme, the well sustained high fluid rates with no indications of decline. However, no appreciable oil or gas was recorded at surface. Preliminary analysis, incorporating the salinity of the produced water, indicates that the logged and cored hydrocarbon saturations in this interval are consistent with a transition zone where residual oil saturations were insufficient to sustain flow to surface. However, the data gathered increases the robustness of the log analyses that indicate higher saturations and mobile oil will be found in The shallower stratigraphic sequences; The plan remains to progress systematically up the well to the shallowest interpreted pay zone, the Lower Sagavanirktok zone 3. The objective remains to prioritise data quality rather than seeking to maximise initial flow rates to increase the understanding of the reservoirs and thus optimise future appraisal and development. Operations on the next interval, the Lower Prince Creek formation, will commence shortly with results reported once flow testing is complete. Tillkännagivande • Mar 26
Pantheon Resources Plc announced that it has received $35 million in funding from Sun Hung Kai & Co. Limited On March 24, 2025, the company closed the transaction. Tillkännagivande • Mar 03
Pantheon Resources Plc Announces Multi-Zone Flow Tests Planned for Megrez-1 Pantheon Resources plc announced further details of its planned flow testing programme for the Megrez-1 well. Key Points: Data from logs, cores, cuttings and seismic indicate seven discrete interpreted pay zones, with flow testing of the shallowest six to commence before the end of March 2025; Analyses of analogous offsets indicate potential flow rates ranging from 200 barrels per day (bpd) to 2,000 bpd for any specific zone, depending on the encountered reservoir quality and fluid properties; Pantheon expects flow rates from the deepest horizon to be tested (Topset 1) at the lower-end of the range and flow rates in the shallower horizons at the top of the range; Reliable estimates of in-place and recoverable contingent resources require successful flow tests to confirm fluid compositions and reservoir properties, including API oil gravity, gas-oil ratio and in situ saturations among others. Previous guidance still stands for the Upper Schrader Bluff and Prince Creek potential; Flow data will be released at the conclusion of testing for each horizon. Tillkännagivande • Feb 23
Pantheon Resources plc Announces Board Changes Pantheon Resources plc announced the appointment of accomplished energy executive, Max Easley, as Chief Executive Officer, succeeding Jay Cheatham. Mr. Easley will be appointed as a member of the Pantheon Board of Directors effective 28 February 2025, while Jay will continue to serve the Company as a Non-Executive Director for a period of handover to Max. A native-born Alaskan, Max Easley brings over thirty years of experience as a highly respected energy executive, drawing on extensive domestic and international experience in the upstream industry. Over the course of his career, Max has held executive rolls at BP, Apache Corporation and PETRONAS Canada. Max graduated from the University of Alaska in 1991 with a degree in Petroleum Engineering. Following his early days learning his trade as a petroleum engineer at Prudhoe Bay, he worked overseas for over a decade, primarily in the UK and Trinidad, in a variety of technical, financial and leadership roles before returning to Alaska as Senior Vice President of Resource Development for BP Alaska. Over the past decade, he has been a driving force in the capital efficient appraisal, development and production of unconventional resources both in the Permian Basin in Texas and the Montney in British Columbia. The appointment of Mr. Easley is another key step in the development of the Board and governance in preparation for a possible US listing. The Company expects to evolve the Board further as it executes on this strategy. Tillkännagivande • Feb 22
Pantheon Resources plc Announces Chief Executive Officer Changes Pantheon Resources Plc announced that it has appointed Max Easley as Chief Executive Officer to succeed Jay Cheatham. Easley brings over 30 years of experience as an energy executive, drawing on extensive domestic and international experience in the upstream industry. A native-born Alaskan, Max Easley brings over thirty years of experience as a highly respected energy executive, drawing on extensive domestic and international experience in the upstream industry. Over the course of his career, Max has held executive rolls at BP, Apache Corporation and PETRONAS Canada. Max graduated from the University of Alaska in 1991 with a degree in Petroleum Engineering. Following his early days learning his trade as a petroleum engineer at Prudhoe Bay, he worked overseas for over a decade, primarily in the UK and Trinidad, in a variety of technical, financial and leadership roles before returning to Alaska as Senior Vice President of Resource Development for BP Alaska. Over the past decade, he has been a driving force in the capital efficient appraisal, development and production of unconventional resources both in the Permian Basin in Texas and the Montney in British Columbia. The appointment of Mr. Easley is another key step in the development of the Board and governance in preparation for a possible US listing. The Company expects to evolve the Board further as it executes on this strategy. Tillkännagivande • Feb 11
Pantheon Resources Plc, Annual General Meeting, Mar 12, 2025 Pantheon Resources Plc, Annual General Meeting, Mar 12, 2025. Location: the offices of simmons and simmons, citypoint, 1 ropemaker st, city of london, ec2y 9ss, london United Kingdom Tillkännagivande • Nov 20
Pantheon Resources Plc announced that it has received $2.6215 million in funding Pantheon Resources plc announced a private placement to issue 9,108,756 new ordinary shares at an issue price of $0.2878 (£0.2266) per share for the gross proceeds of $2,621,499.9768(£2,064,044.1096) on November 19, 2024. Tillkännagivande • Nov 11
Pantheon Resources plc Announces Spudding of Megrez-1 Well Pantheon Resources plc announced the spudding of the Megrez-1 well to explore the eastern topsets in the Ahpun field, immediately adjacent to pipeline and road infrastructure. The reservoir sections to be targeted are both younger and shallower than in any of Pantheon's previous Alaskan wells, with superior reservoir characteristics predicted. The Megrez-1 well will target three topset horizons, which the Company estimates to contain an aggregate 2U Prospective Resource of 609 million barrels of ANS Crude (oil, condensate & NGLs) and 3.3 trillion cubic feet ("Tcf") of natural gas. Initial results from the well will be announced when drilling operations are complete. Pantheon contracted the Nabors 105AC rig, which the Company is familiar with having used it in previous drilling campaigns, to drill the Megrez-1 well. Construction of the gravel pad next to the Dalton Highway was completed in October, and the pad can be used year-round to support future drilling and development activities. Tillkännagivande • Jun 15
Pantheon Resources Plc announced that it expects to receive $3.359749 million in funding Pantheon Resources Plc announced a private placement of 9,230,080 new ordinary shares at a price of $0.364 per share for the gross proceeds of $3,359,749.12 to 2 existing investors on June 14, 2024.? Tillkännagivande • Jun 13
Pantheon Resources plc Announces the Resource Estimates from the Kodiak field, Ahpun western topsets and Alkaid horizon Pantheon Resources plc announced the results of the recent Independent Expert Report ("IER") by Cawley Gillespie & Associates Inc. ("CGA"). This completes the independent estimates for the Company's aggregate resources from the Kodiak field, Ahpun western topsets and Alkaid horizon resulting in totals exceeding 1.5 billion barrels ("Bbbl") of ANS Crude and 6.5 trillion cubic feet ("Tcf") of associated gas. As was the case with Lee Keeling & Associates ("LKA") which recently updated its IER on the Alkaid horizon of the Ahpun field, CGA has evaluated the economics of the best estimate or 2C case. Based on an ANS Crude price of $80 per barrel delivered to the US West Coast, CGA estimates the net present value of the total contingent resources in the western topsets in the Ahpun field (using a real discount rate of 10%) at $1.74 billion. This report extends the independent assessments of all the Company's contingent resources discovered, appraised and for which development approvals are being prepared. As previously announced, the Company is targeting Final Investment Decision ("FID") at the earliest possible date subject to regulatory consents, but in any case, to allow first production no later than 2028. Pantheon commissioned CGA to prepare the independent report on the Ahpun field as it progresses funding options for its projects. This IER incorporates data obtained from the successful completion and test of the shallower topset horizon in the vertical section of the Alkaid-2 well in Fourth Quarter 2023. For that test, Pantheon utilised a revised frac design with success, including using finer mesh sand and at a lower concentration in a slick water stimulation. This resulted in a materially improved frac efficiency compared to the completion in the horizontal section of Alkaid-2 and will be the starting point for all future frac designs. Pantheon was also able to obtain down hole pressure data and fluid samples consisting of oil, gas and condensates/NGLs. This allowed analysis of reservoir pressure and permeability leading to a better understanding of the western topsets reservoir parameters and potential development economics. These estimates can only be upgraded from the contingent resource to the reserves classification following FID. This initial IER is based on Pantheon's base case development plan for Ahpun, but does not yet incorporate the benefits of planned infill drilling (or "wine-racking") in the southern portion of the topsets, where they are thickest. Analysis of the interference between "parent" and "child" wells in such a scenario is more complex and time consuming and will only be required later in the process of achieving FID. Preliminary management estimates indicate that "wine-racking" the wells in this area would add an additional c. 80 million barrels ("mmbbl") of high value recoverable resources. When combined with CGA's estimate, this would bring the total expected ultimate recovery from the Ahpun western topsets to c. 360 mmbbl as compared with the previously released management estimates (based on in-place quantities and a generalised recovery factor assumption) of 404 mmbbl. Tillkännagivande • Mar 30
Pantheon Resources plc Provides Update on Ahpun Development Planning Pantheon Resources plc shared the update on its development planning. Ahpun Development Planning: Initial dynamic modelling for 10,000 ft lateral well in the Ahpun topset horizons ("Topsets") supports Pantheon's previously released analysis of > 2 million barrels ("mmbbl") per well Estimated Ultimate Recovery ("EUR") and first year average production rate of 2,000 bpd of marketable liquids. SLB is concluding the development plan for the deeper Ahpun Alkaid Zone and will now turn to the shallower Ahpun Topsets development plan. Pantheon's technical team has identified well pad and bottom hole locations sufficient to recover Company estimates of 481 mmbbls from the Ahpun Topsets and Alkaid Zone (best estimate contingent recoverable resources). In order to mitigate delays to financing discussions that would have resulted from Netherland, Sewell & Associates Inc.'s ("NSAI") Ahpun report only becoming available around the end of Second Quarter 2024, Pantheon commissioned Independent Expert Reports ("IER") for (the shallower) Ahpun Topsets and (the deeper) Alkaid Zone from Cawley Gillespie & Associates ("CGA") and Lee Keeling & Associates (LKA) respectively. The full reports, expected shortly, are integral to financing discussions, and will be announced to the market and posted to Pantheon's website when completed. o Given NSAI could not commence Ahpun work until after the completion of its work on Kodiak, CGA was appointed as it could commence earlier, thereby reducing the timeline to delivery of an IER on the Ahpun Topsets by some three months. CGA has conducted reserves auditing work on existing North Slope fields and has been able to work in parallel with NSAI's evaluation of Kodiak. o LKA has previously evaluated the Alkaid Zone in the Ahpun Field and, given their existing knowledge, was able to update this work with subsequent data from Alkaid-2 in a shorter timeframe. o NSAI will now prepare its IER on the entirety of the Ahpun Field, including any additional resources confirmed by successful appraisal of the eastern extension, prior to Final Investment Decision ("FID"). Pantheon is completing management estimates of prospective resources in the eastern extension to Ahpun Topsets covered by the new leases successfully bid for in December 2023, and accessible from western side of Sag River. Results will be released as soon as available. Kodiak and Eastern Extension of Ahpun: Appraisal Planning Expect to receive the initial NSAI Kodiak recoverable resource update to incorporate the new acreage at or near end of First Quarter 2024 /early Second Quarter 2024. Full NSAI report will be announced to the market and posted to Pantheon's website when received. Pantheon is undertaking preparations to support winter campaigns for up to three appraisal wells in western portion of Kodiak field, subject to funding. The Company is currently preparing drilling plans for a Megrez-1 well into eastern Ahpun Topsets from alongside Dalton Highway using either an ice pad for winter drilling or rig mats for summer drilling, again subject to funding. Tillkännagivande • Jan 31
Pantheon Resources Plc has completed a Follow-on Equity Offering in the amount of £4.153017 million. Pantheon Resources Plc has completed a Follow-on Equity Offering in the amount of £4.153017 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 16,286,343
Price\Range: £0.255
Transaction Features: Subsequent Direct Listing Tillkännagivande • Dec 19
Pantheon Resources Plc, Annual General Meeting, Jan 24, 2024 Pantheon Resources Plc, Annual General Meeting, Jan 24, 2024, at 15:00 Coordinated Universal Time. Tillkännagivande • Dec 12
Pantheon Resources plc Appoints Linda Havard as Non-Executive Director, Effective 1 January, 2024 Pantheon Resources plc announced the appointment of Linda Havard as Non-Executive Director with effect from 1st January, 2024. Linda Havard joins the Board as a Non-Executive Director. Linda has more than 35 years of experience as a financial and operating executive in public oil and gas and entertainment companies as well as professional services firms. She most recently served as Chief Financial Officer of Gensler, the world's largest architecture and design firm, where she was responsible for all aspects of finance, including strategic finance, treasury, accounting, tax, internal audit, financial planning and analysis, capital budgeting, business systems and procurement for the firm's global operations. rior to joining Gensler, Linda served for six years as Chief Financial Officer at the global law firm of Orrick, Herrington & Sutcliffe, 13 years as Executive Vice President and Chief Financial Officer of Playboy Enterprises and 15 years at Atlantic Richfield Company (ARCO) (now BP Amoco), where she headed Corporate Planning and Investor Relations, among other senior positions. During her tenure at ARCO, Linda was a member of the Lyondell Petrochemical Company Board, serving on its Finance & Audit Committee. Linda holds an MBA in Finance from the University of California at Los Angeles (UCLA) and a PhD (honoris causa) in Business from the Chicago School of Professional Psychology. She is a member of the [Atlanta] Federal Reserve Board CFO Panel, the International Women's Forum, and the Governing Body of the CFO Executive Summit. Linda will chair Pantheon's Finance, Audit & Risk Committee. Current Trusteeship: Havard Family Trust; Directorship in last 5 years: M. Arthur Gensler & Associates. Tillkännagivande • Oct 19
Pantheon Resources plc Provides Update on Alkaid-2 Re-Entry Update Pantheon Resources plc provided the following update: Alkaid-2 Re-entry Update: The re-entry of the Alkaid-2 well and flow test of the Shelf Margin Deltaic B ("SMD-B") horizon is now complete at the end of the programme to frac, clean up and flow the well. The Company reported that testing operations have been successful at demonstrating producible oil from the SMD horizon in the Aphun field, which is comprised of both the shallower SMD formation and the previously tested deeper Alkaid ZOI. As previously announced,ing into the SMD data gathering programme, the Company had three clear objectives: (i) To assess the efficacy of the revised frac design; (ii) To gather representative fluid samples for pressure-volume temperature analysis ("PVT"), and; (iii) To better determine the initial reservoir pressure All three objectives have been successfully achieved: (i) Post well analysis indicates that the frac treatment resulted in vertical propagation across the entirety of the 200 ft gross (100 ft net) reservoir column and extended laterally some 300-400 ft. The Company's preliminary estimate of the efficiency of the frac was 50% of theoretical design performance and compares favourably with the calculated frac efficiency of c.20% experienced in the Alkaid-2 operations in the deeper ZOI accumulation last year. This improvement was the result of several key changes to the frac design, which allowed the frac to remain within the reservoir and validates the ability to achieve at least the planned for 2x improvement in frac efficiency in future. (ii) Multiple fluid samples were gathered indicating a measured gas oil ratio ("GOR") of 3,000 - 4,000 standard cubic feet per barrel ("scf/bbl") and an API gravity of 35-36. The plan targets FID (final investment decision) by the end of 2025 with first production to follow in early 2026. Estimated costs to first production are conservatively estimated at $120 million, based on: $20 million for the hot tap; $20 million for facilities upgrade (including preparing Alkaid-2 for injection service); $6 0 million for the first three production wells; $20 million for three years of corporate G&A This cost to reach first production contrasts with other developments in the region, requiring at least an order of magnitude greater expenditure. Additional development costs after first production are expected to be funded through debt or equivalent sources. The Company will provide further updates on its financing activities, designed to minimize equity or other value dilution for existing investors, as arrangements progress. Tillkännagivande • Sep 27
Pantheon Resources plc Announces Commencement of Operations for the Re-Entry at Alkaid-2 Pantheon Resources plc announced that operations for the re-entry at Alkaid-2 have now commenced. The Alkaid-2 re-entry has three primary objectives: to gather the best possible reservoir fluid samples for pressure-volume temperature ("PVT") analysis; to determine initial reservoir pressure; and test the improvements in the frac design discussed in recent Company webinars. The objective of the operations at Alkaid-2 is not to target maximum flow rates. Pantheon will deliberately restrict the flow rates to minimise gas production into the well bore and allow optimum data collection. The Alkaid-2 well was positioned to target the Zone of Interest (ZOI) in the optimum location and is on the edge of the mapped SMD reservoir. Notwithstanding the thinner SMD interval at this location when compared to the core of the Ahpun Field, the well encountered encouraging hydrocarbon indications en route to the deeper ZOI. The programme of operations to achieve the three primary objectives includes: Make well safe in preparation for operations. Run a plug to isolate the Alkaid ZOI below the SMD horizon. Perforate a limited section to ensure injection pressures are high enough to propagate the frac lobes horizontally as desired. Pump 11,000 bbls of water and 400,000 lbs of 100 mesh sand. Flow back slowly to prevent or limit gas flashing in the reservoir (i.e. exsolving from solution in an uncontrolled manner) in order to gather the most representative fluid samples possible. Monitor pressures throughout to assess frac efficiency and original reservoir pressure. The Alkaid-2 well was drilled in 2022 and was positioned to prioritise testing of the primary target (or 'zone of interest', "ZOI"), being the oil zone successfully flow tested in the Alkaid-1 well in 2019. Testing of the ZOI was compromised in Alkaid-2 as a result of wellbore blockages, necessitating a number of cleanout and other remedial operations. Ultimately, the ZOI produced an IP30 production rate of c.505 barrels per day ("BPD") of marketable liquid hydrocarbons consisting of oil, condensate and NGLs, as well as natural gas. As previously announced, extensive analysis has been undertaken on the Alkaid-2 ZOI results with the data supporting a commercial development based upon 10,000ft lateral development wells, a doubling of the frac efficiency to 40% and assuming no improvement in reservoir quality. The data indicates that well productivity has the potential to improve materially based upon better frac design. Tony Beilman, Pantheon's recently appointed Senior VP of Engineering, and an expert in fracking in North America, believes that with iterative optimisation, Pantheon has the potential to meet typical performance benchmarks, a 4x improvement upon that achieved in the ZOI. One of the primary objectives of the upcoming Shelf Margain Deltaic test is to assess the efficacy of an updated frac design. Tillkännagivande • Aug 30
Pantheon Resources plc Receives an Independent Expert Report Which Provides an Estimate of Contingent Resources Recoverable from Its 100% Working Interest Kodiak Project, Formerly Known as Theta West Pantheon Resources plc advise that it has received an Independent Expert Report ("IER") which provides an estimate of contingent resources recoverable from its 100% Working Interest Kodiak project, formerly known as Theta West ("Kodiak"). A full copy of the report will be published on the Company's website. The 2C estimates (best estimates) of oil and natural gas liquids ("NGLs") total 962.5 million barrels of marketable liquids. As previously advised by management, the NGLs on Pantheon's projects are of material value as they can be blended with the oil and the combined stream of oil, condensate and NGLs has been estimated by management to yield approximately 90% of the value of the Alaska North Slope ("ANS") price per barrel. The management believe the Kodiak NSAI IER supports the Company's development plans for the Kodiak project, which will involve development of leases totaling some 126,000 acres (including the recently awarded additional acreage), delineated by the Company's proprietary 3D seismic and confirmed by three wells (Pipeline State 1, Talitha-A and Theta West-1). The field is defined as the hydrocarbon bearing horizons contained within the large basin floor fan between the Hue Shale top seal and the underlying HRZ shale, from their downdip pinchout east of Talitha-A running to over 15 miles northwest into the new "chimney acreage" acquired in the 2022 area wide lease sale. The Company believes that this is one of the largest basin floor fan systems discovered onshore in the past few decades. he absence of wireline electric logs or sidewall cores taken at Theta West-1, due to hole stability issues and the limited time available at the end of the drilling season, has meant that the highest resolution data that captures the thinly interbedded reservoir in the Kodiak field is limited to the Talitha-A well. The Company plans to drill the next Kodiak well significantly updip from the Talitha-A and the Theta West-1 wells, where management believe the lower depth of burial ("Dmax") should lead to improved reservoir characteristics compared to both Talitha-A and Theta West-1. The Company has completed a detailed geological model taking into account data from wells in the immediate area which include the producing Tarn and Meltwater fields. Pantheon plans to drill the next Kodiak appraisal well in the recently acquired leases, some five miles northwest of Theta West-1. Based on the Company's petrophysical analysis noted above, a Theta West-2 well in that location would be expected by management to encounter a reservoir section with 37% of the pay interval exhibiting porosities at or above 12% and permeabilities of greater than 0.1 milliDarcies - the typical cut-off for recognising reservoirs as conventional, which typically yield higher flow rates and hydrocarbon recovery rates. The reservoirs in the structural updip portion on the Theta West structure are expected by management to exhibit the highest quality on Pantheon's acreage, in its largest trapping mechanism. The Company plans to cut full cores and acquire a full suite of wireline logs and representative fluid samples/flow tests in future appraisal wells to address the contingencies in NSAI's evaluation. Demonstrating the character of the reservoir at the most granular possible level creates potential for future increases to recoverable resource estimates. the company confirm that the All-American Oil Rig 111 has been formally contracted forthe re-entry of the Alkaid-2 well to test the SMD horizon. Pantheon has also awarded all major service provider contracts necessary for the operation. Finalisationof necessary permits forthe operation is ongoing, with mobilisation of the rig targeted for September. Tillkännagivande • Jul 04
Pantheon Resources plc Appointment of Allegra Hosford Scheirer as Independent Non-Executive Director Pantheon Resources plc announced the appointment of Allegra Hosford Scheirer as Non-Executive Director with immediate effect. Allegra is an internationally recognised expert in petroleum system analysis, having deployed basin modelling, organic geochemistry, geophysical techniques, and machine learning to evaluate numerous oil and gas provinces throughout the world, including the Alaska North Slope. Allegra graduated with a Ph.D. in marine geology and geophysics from the Massachusetts Institute of Technology and subsequently worked with the Energy Resources Program at the U.S. Geological Survey ("USGS"). She has been a scientist at Stanford University for 15 years. Tillkännagivande • Jun 09
Pantheon Resources plc Announces Executive Changes Pantheon Resources plc announced that Phillip Gobe has informed the Company of his intention to retire and the Board has elected David Hobbs as Chairman, with the intention for him to become Executive Chairman upon execution of an employment agreement. David joined Pantheon's Board in March 2023 with the goal of helping to sharpen the Company's strategic focus and improve communication with investors. As Executive Chairman, he will work with the existing management team to broaden the recognition of the value of the Company's assets and to build on the operational, financial and commercial capabilities of the organization. Tillkännagivande • Jun 07
Pantheon Resources Plc announced that it has received $0.630904 million in funding On June 6, 2023, Pantheon Resources Plc closed the transaction. The transaction included participation from nine investors. Tillkännagivande • Feb 16
Pantheon Resources plc Completes Alkaid #2 Well Cleanout Pantheon Resources Plc announced the cleanout of the sand blockage in the Alkaid #2 well is now complete and the Nordic Calista #2 rig has moved off the Alkaid #2 well head after replacing the production tubing. Commencement of these operations was delayed due to poor weather and a number of electrical and hydraulic issues with the rig which are now all resolved. The team is currently connecting Alkaid #2 to the production facility in preparation for the resumption of the long term production testing operations which will recommence shortly. The entire facility will now run on power completely generated with produced gas without any ancillary equipment.