AGDC Announcement on Development of Alaska LNG

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, welcomes the announcement by the Alaska Gasline Development Corporation ("AGDC") regarding an exclusive Framework Agreement with a private company to lead and fund the development of the Alaska LNG project.

On 6 January 2025, AGDC President, Frank Richards, and Alaska Governor, Mike Dunleavy, hosted an energy conference in Anchorage, where Frank Richards announced the news:

David Hobbs, Executive Chairman of Pantheon Resources, commented: "We are delighted with the progress made by Frank and the AGDC team. This moves the Alaska LNG project a step closer to fruition and, upon execution of definitive agreements, providing long term energy security for the State of Alaska. As a reminder, Pantheon and AGDC signed a Gas Supply Precedent Agreement in June 2024, under which Pantheon would supply its natural gas into the pipeline pursuant to a definitive gas sales agreement to be negotiated in the coming months. We look forward to project progress as the parties work together to realise Phase 1 of 'Alaska LNG' (the gas pipeline) and ultimately the full 'Alaska LNG' project."