29 October
2024
Pantheon Resources
plc
Pantheon Resources Engages
Leading Investor Relations Advisor to aid Growth Capital Formation
Initiatives
Pantheon Resources plc (AIM:PANR) ("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 ("ANS"), today announced that is has appointed MZ Group
("MZ"), a corporate & financial communications advisor to
upgrade its USA presence in line with its stated
strategy.
MZ Group will lead a strategic
investor relations and financial communications programme with a
particular focus on North America. MZ Group is working closely with
Pantheon management to develop and implement a comprehensive
capital markets strategy designed to increase the Company's
visibility throughout the investment community. The MZ team is
advising Pantheon regarding corporate and financial communications,
including the coordination of non-deal roadshows and investment
conferences across key USA cities and building brand awareness with
financial and social media outlets.
David Hobbs, Executive Chairman of Pantheon Resources,
commented: "Pantheon is now transitioning to an exciting
new phase for the Company's development. With the step up in
activity and the more solid underpinnings resulting from the
independent validation of the resource base and development plans,
it is the right time to accelerate Pantheon's marketing to USA
stakeholders. Our near-term operational focus is progressing
definition of our Ahpun project, including the soon to spud
Megrez-1 well, to progress the regulatory approvals for field
development. Our strategic target remains to achieve sustainable
market recognition of $5-10/bbl for our discovered contingent
recoverable resource of c. 1.6 billion barrels of marketable
liquids by the end of 2028."
About MZ
MZ North America is the USA division
of MZ Group, a global leader in investor relations with over 250
employees, 800 clients across 12 different exchanges. For over 25
years, MZ has implemented award winning programmes and developed a
reputation for delivering tangible results for public and private
companies via strategic communications, industry-leading investor
outreach, public relations, a market intelligence desk, and a suite
of technology solutions, spanning websites, conference
call/webcasting, video production and XBRL/Edgar filing services.
MZ maintains a global footprint with professionals located
throughout every time zone in North America, as well as Taipei and
São Paulo. For more information, please visit www.mzgroup.us.
For further information, please
contact:
Corporate Contact
Pantheon
Resources plc
Justin Hondris
+44 20 7484 5361
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
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
trillion cubic feet (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 $5-$10/bbl
of recoverable resources by end 2028. This is based on bringing the
Ahpun field forward to Final Investment Decision ("FID") and
producing into the Trans-Alaska Pipeline System (TAPS) main oil
line (ANS crude) by the end of 2028. The Gas Sales Precedent
Agreement signed with the Alaska Gasline Development Corporation
(AGDC) provides the potential for Pantheon's natural gas to be
produced into the proposed 807 mile pipeline from the North Slope
to Southcentral Alaska during 2029. 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 total 1,208 million barrels ("mmbbl") of ANS
crude and 5,396 billion cubic feet ("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
totalling 79 mmbbl of ANS crude and 424 bcf natural gas.
For more information visit
www.pantheonresources.com.