Pantheon Resources
PANR · AIM · Energy · mcap £152m · 10.4p
Pantheon Resources owns oil and gas leases on Alaska's North Slope, mainly the Ahpun and Kodiak projects. It has no production yet and funds itself through share issues and convertible bonds.
| Date | Type | Announcement | Day |
|---|---|---|---|
| 01 Oct 26 | Board change | Appointment of CEO and Board Changes
David Wilkins appointed CEO with immediate effect, succeeding Max Easley who is leaving for another role. |
−4.1% |
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David Wilkins base compensation US$100,000 per annumDavid Wilkins annual share grant 3,000,000 ordinary shares per annum for two yearsDavid Wilkins initial RSU grant 6,000,000 restricted stock unitsMax Easley forfeited RSUs 5,517,841Max Easley RSUs capable of vesting 8,500,000 (subject to farm-out completion)
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| 14 Sep 26 | Results | 2026 Interim Results and Corporate Updates
H1 2026 interim results with Kodiak seismic reprocessing completed on schedule, showing 25% potential resource uplift and strong farm-out interest. |
+9.1% |
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in line with expectations expectations Operating loss $6.1 million ($7.9 million)Loss $9.2 million (Net income $2.7 million)Administrative expenses $5.3 million ($6.8 million)Cash and cash equivalents $10.2 million ($24.5 million)Exploration and evaluation assets $383.3 million ($381.6 million)Expected Kodiak 2C resource uplift at least 25% (1.2 billion barrels)
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| 10 Sep 26 | Notice of Interim Results & Investor Presentation
Interim results for H1 2026 and seismic reprocessing project update to be announced 14 September. |
−11.0% | |
| 02 Jun 26 | Alaska Legislature Appearance & Op. Update
Pantheon presented its Alaska gas projects to the state legislature as potential supplier to proposed LNG pipeline. |
−5.8% | |
| 23 Apr 26 | Operational Update and Change of Accounting Date
Company changes accounting reference date from 30 June to 31 December and provides farm-out update. |
−6.2% | |
| 13 Apr 26 | Granting RSU's and Blocklisting Application
Company grants 12.96 million RSUs to employees and applies for 8 million share headroom on block listing. |
−4.1% | |
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RSUs granted to all staff 12,960,102RSUs granted to Max Easley 1,764,037RSUs granted to Tralisa Maraj 1,363,119RSUs granted to Erich Krumanocher 1,347,082Share price used for calculation £0.1160Additional headroom on block listing 8,000,000 Ordinary Shares
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| 31 Mar 26 | Results | Unaudited Interim Results
H1 2025 loss of $9m; Dubhe-1 confirmed hydrocarbons; seeking farm-in partners for Alaska assets |
+3.1% |
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After tax loss $9.0 million ($6.9 million)Cash on hand $24.5 million ($17.3 million)G&A expenses $5.9 million ($4.6 million)Equity raised $46.25 millionExploration and evaluation assets $381.1 million ($337.4 million)2C recoverable resource 1.6 Billion barrels
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| 12 Mar 26 | Board Changes, AGM & Webinar Update
David Hobbs steps down as Chairman; Michael Spencer appointed; David Wilkins joins as Non-Executive Director. |
+35.5% | |
| 06 Mar 26 | Change of Directorship
Linda Havard steps down from the Board effective 5 March 2026, will not seek re-election at AGM. |
−4.6% | |
| 16 Feb 26 | AGM Arrangements & Corporate Update
AGM scheduled for 12 March 2026; David Hobbs transitioning to Non-Executive Chair; Allegra Hosford Scheirer stepped down from Board. |
−8.1% | |
| 15 Jan 26 | Fundraise | Placing to raise $10 Million
Pantheon raises $10 million via placing of 106.2 million shares at 7.0p to fund Dubhe-1 testing and seismic reprocessing. |
−10.2% |
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Amount raised $10 millionIssue price per share 7.0 pencePlacing shares 106,209,678Dubhe-1 resource ~282 million barrel liquid contingent (2C)Kodiak resource 1.2 billion barrels contingent (2C) recoverable liquids
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| 30 Dec 25 | Results | Final Results
Full year loss of $5.0m with $64m raised; drilled two wells and appointed new CEO and CFO. |
−0.8% |
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Total comprehensive loss after taxation $5.0 million ($13.4 million)Cash raised in FY2025 $64.0 millionCash raised post year-end $46.25 millionCash, cash equivalents and term deposits $13.2 million ($7.9 million)Independently certified resources 1.6 billion barrels ANS crude and 6.6 Tcf natural gas
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| 22 Dec 25 | Shareholder Letter and Corporate Update on Dubhe-1
Dubhe-1 well did not deliver expected production but confirmed hydrocarbons; testing paused pending spring assessment. |
−50.5% | |
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below expectations Contingent recoverable resources c. 1.6 billion barrels of ANS crude and 6.6 Tcf of associated natural gasWorking interest acreage 258,000 acresWater produced from Dubhe-1 cleanup approximately 100,000 barrelsGas produced from Dubhe-1 cleanup 20 million cubic feetOil produced from Dubhe-1 cleanup 100 barrels
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| 17 Dec 25 | Update - Investor Webinar rescheduling
Investor webinar rescheduled from 23 December to 22 December 2025 at 17:00 GMT. |
+6.5% | |
| 15 Dec 25 | Final Repayment of Convertible Bonds & Webinar
Pantheon repaid convertible bonds in full through issuance of 10.5m new shares; Dubhe-1 well remains in cleanup phase. |
−5.6% | |
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Final quarterly principal repayment US$2.45 millionQuarterly interest payment US$24,500New ordinary shares issued 10,520,833Enlarged issued share capital 1,348,117,633 shares
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| 15 Dec 25 | Retirement of Director
Jay Cheatham retired as Non-Executive Director after 17 years with the company, including service as CEO. |
−5.6% | |
| 02 Dec 25 | Operational Update - Dubhe-1
Dubhe-1 well clean-up progressing with intermittent oil and gas production; drilling and completion cost approximately $33 million. |
−19.8% | |
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above original estimate expectations Dubhe-1 drilling and completion cost approximately $33 millionInjected water volume produced approximately 40%Dubhe pad construction cost $2.5 millionOriginal expected drilling cost approximately $10 million
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| 12 Nov 25 | Participation in Conference and Update on Dubhe-1
CEO attending Alaska Resources Conference; Dubhe-1 well clean-up ongoing with 20% water recovery so far. |
−1.0% | |
| 08 Oct 25 | Dubhe-1 Operational Update
Dubhe-1 well completed 25 hydraulic fracture stimulation stages in 8 days with no safety incidents. |
−0.8% | |
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in line expectations Hydraulic fracture stimulation stages completed 25Time to complete stimulation 8 daysTotal measured depth 15,800 ftWellbore within target reservoir available for stimulation c. 5,200 ft
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| 18 Sep 25 | Dubhe-1 Operational Update - Ready for Completion
Hydraulic fracture stimulation of Dubhe-1 well scheduled for late September, followed by extended production testing. |
+1.8% | |
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Dubhe-1 horizontal lateral measured depth 15,800 ftSMD-B target reservoir lateral length c.5,200 ftPre-drill targeted lateral length 3000-4000 ftEstimated stimulation duration approximately two weeksAnticipated initial production cleanup phase up to ten days
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| 11 Sep 25 | Fundraise | Placing and Subscription to raise $30 Million
Placed and subscribed $30 million of new shares at 25 pence per share to fund operations and US listing preparation. |
−4.5% |
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Capital raised $30 millionIssue price per share 25 penceDiscount to market close 9%New shares issued 95,985,164Market closing price 27.5 pence
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| 08 Sep 25 | Dubhe-1 Update
Dubhe-1 lateral drilled to 5,200 ft exceeding targets; Ahpun resources increased to 589 million barrels. |
+10.7% | |
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ahead expectations Dubhe-1 lateral measured depth 15,800 ftSMD-B reservoir lateral length c.5,200 ftPre-drill targeted lateral length 3,000-4,000 ftAhpun area updated best estimate resources 589 million barrels of marketable liquidsResource increase from previous estimates 228 million barrels (c.63%)
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| 03 Sep 25 | Investor Presentation via Investor Meet Company
CEO and management to present investor update on Dubhe-1 well and Ahpun field development plans via Investor Meet Company. |
+1.0% | |
| 18 Aug 25 | Dubhe-1 Appraisal Well Exceeds Pre-Drill Estimates
Dubhe-1 appraisal well exceeded pre-drill estimates in primary target with 565 ft hydrocarbon column, plus additional prospective resources in secondary horizons. |
+17.9% | |
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ahead expectations SMD-B gross hydrocarbon column thickness 565 ft TVT (450 ft TVT pre-drill estimate)Excess vs pre-drill estimate 26%Excess vs upper pre-drill estimate 13% (500 ft TVT)SMD-C horizon thickness 60 ft TVTSlope Fan 1 thickness 36 ft TVTSlope Fan 2 thickness 53 ft TVT
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| 22 Jul 25 | Spudding of Dubhe-1 well
Pantheon spudded Dubhe-1 well to appraise topset horizon in Ahpun field with 282 million barrels contingent resource. |
−0.9% | |
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Primary target 2C Contingent Resource 282 million barrels ANS CrudeAssociated natural gas resource 804 billion cubic feetNet present value (10% real discount rate) $1.74 billion (based on $80/barrel ANS Crude pricing, June 2024)Rig contracted Nabors 105ACGravel pad construction completed June 2025
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| 10 Jul 25 | Operating Update, Webinar, and Total Voting Rights
Rig mobilised to drill Dubhe-1 appraisal well targeting Ahpun Topset with 282 mmbbls 2C resources; share placing admitted. |
+1.2% | |
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Ahpun Topset 2C Contingent Resources 282 mmbbls of Marketable LiquidsAssociated natural gas 804 BCFNPV10 at $80 oil $1.7 billionTotal issued share capital post-admission 1,238,794,546 Ordinary SharesNew Ordinary Shares admitted 95,796,033 shares
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| 08 Jul 25 | Rescheduling of Investor Meet Company Webinar
Pantheon Resources rescheduled investor webinar to 10 July 2025 to discuss Dubhe-1 appraisal well. |
+1.4% | |
| 07 Jul 25 | Fundraise | Placing and Subscription to Raise $16.25 Million
Pantheon raised $16.25 million through placing and subscription at 21.15 pence per share, with partial debt conversion. |
−13.4% |
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Capital raised $16.25 millionIssue price per share 21.15 pence2021 Convertible Bond prepaid $2.45 million x 22025 Bonds redeemed $6.5 millionOutstanding 2021 Bond principal after prepayment $4.9 millionOutstanding 2025 Bonds after redemption $28.5 million
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| 10 Jun 25 | Marty Rutherford Appointed to Board of Directors
Marty Rutherford appointed Non-Executive Director; Bob Rosenthal retiring from Board. |
+7.2% | |
| 09 Jun 25 | New Executive Team Appointments
Pantheon appoints new CFO and Chief Development Officer to lead transition to development and production phase. |
+5.7% | |
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Tralisa Maraj appointment date 14 July 2025Bob Rosenthal retirement date 13 June 2025Erich Krumanocker experience Over 25 yearsTralisa Maraj experience More than 25 yearsCertified resources 1.6 billion barrels ANS Crude and 6.6 tcf natural gasRSU grant per executive 375,000
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| 21 May 25 | Results | Further Results from the Flow Testing of Megrez-1
Megrez-1 exploration well flow test completed with no oil recovered; focus shifts to Ahpun and Kodiak development. |
−22.4% |
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Megrez-1 production rate in excess of 2,000 barrels of liquid per dayAhpun and Kodiak certified resources 1.57 billion barrels of marketable liquids and 6.6 Trillion Cubic Feet of natural gas
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| 19 May 25 | Results | Further Results from the Flow Testing of Megrez-1
Megrez-1 flow testing shows water-dominated production; no recoverable oil attributed to Lower Prince Creek and Upper Schrader Bluff intervals. |
−39.2% |
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Oil saturation (TS1 average) 51-54%Oil saturation (LPC) 58%Net pay identified 1,340 vertical feetAhpun West and Kodiak combined 2C Contingent Resources c. 1.6 billion barrels liquids and 6.6 TCF gas
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| 22 Apr 25 | Investor Meet Company Webinar
Investor webinar scheduled with company management to discuss petroleum economics and reservoir characterisation. |
−7.3% | |
| 14 Apr 25 | Results | Preliminary Results from Flow Testing at Megrez 1
Flow testing of first interval at Megrez-1 produced water with no hydrocarbons; five deeper intervals remain to be tested. |
−40.2% |
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Flow rate sustained over 1,000 barrels per dayTesting duration 12 daysFracture stimulation interval 290 feetCertified resources in Ahpun and Kodiak 1.6 billion barrels
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| 03 Apr 25 | Participation in Upcoming Investor Conferences
Pantheon management to present at investor conferences in April and May 2025. |
−1.1% | |
| 25 Mar 25 | Employee Share Ownership Plan Awards for 2025
Company awards 3.2m RSUs to staff and 5m options to new CEO Max Easley at $1.15 strike price. |
+5.1% | |
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RSUs awarded to all staff 3,191,177RSUs awarded to all staff (prior year) 9,278,760 (2024)Share options awarded to Max Easley 5,000,000Exercise price of Max Easley options $1.15Closing price 24 March 2025 $0.8366
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| 25 Mar 25 | Closing of US$35 million Convertible Bond Issuance
Pantheon Resources closes US$35 million convertible bond issuance due March 2028 to Sun Hung Kai. |
+5.1% | |
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Convertible Bond Issuance US$35 millionMaturity Date March 2028
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| 24 Mar 25 | Results | Unaudited Interim Results
Megrez-1 well exceeded expectations with 1,340 ft net pay; $35m convertible bond secured; CEO appointment. |
−1.5% |
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Megrez-1 exceeded pre-drill expectations expectations Loss for the period $6.9m ($7.4m)Cash on hand (31 Dec 2024) $19.3m ($0.2m)Megrez-1 net pay 1,340 ftNew Convertible Bond $35.0mG&A expenses $4.6m ($4.0m)Loss per share (0.62)¢ ((0.86)¢)
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| 17 Mar 25 | Quarterly Repayment of Unsecured Convertible Bonds
Pantheon pays quarterly convertible bond repayment of US$2.597m through issuance of 3.63m new shares. |
−4.0% | |
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Quarterly principal repayment US$2.45mQuarterly interest payment US$0.147mNew ordinary shares issued 3,629,122Principal remaining US$12.25mTotal voting rights post-admission 1,142,998,513
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| 12 Mar 25 | Annual General Meeting
Annual General Meeting held with investor presentation and Q&A session to follow. |
+4.5% | |
| 03 Mar 25 | Multi-zone flow tests planned for Megrez-1
Pantheon to conduct multi-zone flow tests on Megrez-1 well starting end of March 2025 across six horizons. |
+5.8% | |
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Interpreted pay zones identified seven discrete zonesZones to be flow tested six shallowest zonesPotential flow rate range per zone 200 to 2,000 bpdExpected testing duration up to four months
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| 28 Feb 25 | Exercise of right to increase Convertible Bonds
Convertible Bonds increased from $30.5m to $35m; proceeds to fund working capital and Megrez-1 flow testing. |
−1.5% | |
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Convertible Bonds aggregate amount US$35 million (US$30.5 million)Maturity date March 2028
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| 26 Feb 25 | Potential upsize of Convertible Bond to US$35m
Pantheon grants lead investor option to increase convertible bond from US$30.5m to US$35m by 28 February 2025. |
−2.4% | |
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Convertible Bond range US$30.5m - US$35mMaturity date March 2028
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| 24 Feb 25 | Board Update
Max Easley's appointment as CEO effective 21 February 2024; David Hobbs to migrate to Non-Executive Chairman. |
+0.5% | |
| 20 Feb 25 | Convertible Bond of US$30.5 million
Pantheon Resources to issue US$30.5 million to US$35 million convertible bonds due March 2028 to refinance existing debt and fund operations. |
+6.8% | |
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Convertible Bond Issue Size US$30.5m - US$35mCoupon 5.0% per annumMaturity Date March 2028Initial Conversion Price US$0.8675Existing Bonds to be Repaid US$12.25mWorking Capital and G&A US$18.25m
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| 20 Feb 25 | Board change | Appointment of CEO and Board Changes
Max Easley appointed CEO effective 28 February 2025, replacing Jay Cheatham who becomes Non-Executive Director. |
+6.8% |
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CEO appointment effective date 28 February 2025Max Easley industry experience over 30 yearsRestricted Stock Units grant 400,000Stock options grant 5 million
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| 10 Feb 25 | Annual General Meeting
Annual General Meeting scheduled for 12 March 2025 at 3:00 pm GMT in London with webcast. |
+14.5% | |
| 22 Jan 25 | Preliminary Log,Core and Cuttings Analysis-Replace
Megrez-1 well analysis shows 15-50% resource upgrade potential and seven oil-bearing zones totalling 2,425ft thickness. |
+19.9% | |
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ahead expectations Potential resource upgrade 15% - 50%Pre-drill resource estimate 609 mmbblsTotal hydrocarbon column thickness 2,425ft TVTMeasured depth to oil pay start 4,680ft MDNet pay across seven zones ~670ft TVDInitial flow tests planned Four at 10 days each
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| 22 Jan 25 | Preliminary Log, Core and Cuttings Analysis
Megrez-1 well intersects larger hydrocarbon column than pre-drill estimates with potential 15-50% resource upgrade. |
+19.9% | |
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ahead expectations Total Hydrocarbon Column 2,310ft TVTNet Pay Thickness 670ft TVT (300ft TVT pre-drill)Potential Resource Upgrade 15% - 50%Pre-drill Resource Estimate 609 mmbblsGross Column with Additional Zones c. 2,310ft TVT
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| 07 Jan 25 | AGDC Announcement on Development of Alaska LNG
AGDC signs exclusive framework agreement with private company to develop Alaska LNG project; Pantheon notes progress on gas supply deal. |
+9.8% | |
| 10 Dec 24 | Megrez-1 Well Discovery
Megrez-1 well in Ahpun field discovered light liquid hydrocarbons across multiple zones over 1,260ft vertical interval. |
+13.9% | |
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Vertical hydrocarbon column interval 1,260ftMeasured depth interval 2,060ftWhole core recovered 60ft with 100% recoverySidewall cores taken 50
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| 09 Dec 24 | Results | Final Results
Year-end results show $11.6m loss; 1.6bn barrels oil and 6.6 Tcf gas certified; Megrez-1 well spudded. |
−2.1% |
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Total comprehensive loss $11.6 million ($4.6 million)Certified contingent resources - ANS crude c. 1.6 billion barrelsCertified contingent resources - natural gas 6.6 trillion cubic feetCash and cash equivalents (30 June 2024) $7.9 million ($20.7 million)Cash and cash equivalents (9 December 2024) $23.7 millionConvertible loan balance (9 December 2024) $17.2 million ($24.5 million)
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| 05 Dec 24 | AGDC Support Towards Funding on LNG Pipeline
AGDC receives Alaska state support for FEED funding on Alaska LNG Phase 1 pipeline, progressing towards final investment decision. |
−3.4% | |
| 26 Nov 24 | Presentation at Sidoti Small-Cap Conference
Pantheon Resources to present at Sidoti Small-Cap Virtual Investor Conference on 4 December 2024. |
−0.8% | |
| 19 Nov 24 | Quarterly Repayment of Bonds and Private Placement
Pantheon issued 9.1m shares to convertible bondholders to fund quarterly debt repayment of US$2.6m. |
−1.9% | |
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New ordinary shares issued 9,108,756Issue price per share US$0.2878 (£0.2266)Total proceeds US$2.622 millionQuarterly principal repayment US$2.45 millionQuarterly interest payment US$0.1715 millionPrincipal remaining on Convertible Bonds US$14.7 million
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| 11 Nov 24 | Spudding of Megrez-1 well
Pantheon spuds Megrez-1 well targeting eastern topsets in Ahpun field with estimated 609 million barrels of crude and 3.3 Tcf of gas. |
+24.5% | |
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2U Prospective Resource - ANS Crude 609 million barrels2U Prospective Resource - Natural gas 3.3 trillion cubic feetContingent resources - ANS crude 1.6 billion barrelsAggregate 2U Prospective Resource more than 1 billion boe
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| 31 Oct 24 | Fundraise | Director Subscription and Total Voting Rights
Executive Chairman and Non-Executive Directors subscribe for 261,696 ordinary shares at £0.212 per share. |
−0.5% |
| 29 Oct 24 | Appointment of Leading Investor Relations Advisor
Pantheon Resources appoints MZ Group to lead investor relations and financial communications strategy in North America. |
+0.2% | |
| 23 Oct 24 | Incentive Plan to Align with Shareholder Interests
Pantheon replaces historic incentive plans with new ESOP comprising share awards for all staff and long-term options for executives. |
+3.0% | |
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RSUs issued to all staff 9,087,584Share options granted to senior management 9,500,000 ordinary sharesLTIP exercise price $0.835 (c. 64p)LTIP exercise price premium to closing share price 290%Total initial ESOP awards 18,587,584 shares (1.64% of issued share capital)Award limit over 10-year period 10% of issued share capital
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| 17 Sep 24 | Investor Presentation via Investor Meet
Pantheon confirms investor webinar to discuss progress on Kodiak and Ahpun oil fields with 1.6 billion barrels resources. |
−1.2% | |
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Recoverable resources - crude c. 1.6 Bbbl ANS crudeRecoverable resources - natural gas 6.7 TcfInterim fundraise completed $29 millionMegrez pad construction progress c. 50% completeAhpun prospective resource target > 600 mmbbls (2U)
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| 16 Sep 24 | Quarterly Repayment of Unsecured Convertible Bonds
Pantheon Resources issued 14.2 million shares to settle US$2.67 million quarterly convertible bond repayment. |
−4.0% | |
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Quarterly principal repayment US$2.45 millionQuarterly interest payment US$0.224 millionNew ordinary shares issued 14,244,459Remaining principal on Convertible Bonds US$17.15 millionShare capital post-admission 1,129,998,939 shares
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| 16 Sep 24 | Board change | Directorate Change
CFO role moves to Houston; Justin Hondris steps down as Director but remains as SVP; Philip Patman appointed CFO. |
−4.0% |
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Recoverable contingent resources - ANS crude c. 1.6 billion barrelsRecoverable contingent resources - natural gas 6.7 trillion cubic feetHistorical fundraising managed by Hondris c. $300 million
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| 09 Sep 24 | Investor Presentation webinar & operations update
Pantheon granted approvals to drill Megrez-1 exploration well from gravel pad in Q4 2024 with 69% success chance targeting 609 million barrels of liquids. |
+0.6% | |
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Recoverable resources - Kodiak and Ahpun fields c. 1.6 billion barrels ANS crude and 6.7 Tcf natural gasMegrez-1 P50 Best Estimate 609 million barrels of recoverable liquids and 3.3 Tcf of gasGeological chance of success - Megrez-1 69%Eastern Topset play additional gas resource up to 3.3 Tcf of natural gas (success case)Alaska LNG export capacity up to 20 million tonnes per annum of LNG
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| 12 Aug 24 | Rig for Megrez-1 Well and Award of New Leases
Pantheon secures rig contract for Megrez-1 well in Q4 2024 and receives award of 46 new oil and gas leases in Alaska. |
−1.3% | |
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Kodiak and Ahpun recoverable contingent resources c. 1.6 Bbbl ANS crude and 6.7 Tcf natural gasMegrez-1 geological chance of success 69%Ahpun East 2U Prospective Resources 609 million barrels liquids and 3.3 Tcf natural gasNew leases awarded 46Total acreage of new leases 65,691.5 acres
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| 26 Jul 24 | Result of Capital Raise
Pantheon Resources raised approximately $29 million through oversubscribed placing and retail offer at 17 pence per share. |
−13.7% | |
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Gross proceeds raised $29 millionIssue price per share 17 penceTotal new shares issued 132,454,566Bond prepayment $4.9 millionConvertible bond balance after prepayment $19.6 millionShare dilution 13.9%
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| 25 Jul 24 | Fundraise | Retail Offer via PrimaryBid
Pantheon Resources launches retail share offer via PrimaryBid at 17 pence per share, alongside placing and subscription. |
−0.7% |
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Issue price 17 pence per shareDiscount to closing price 14.4%Maximum retail offer value £2 millionMinimum subscription per investor £250
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| 25 Jul 24 | Fundraise | Proposed Placing and Subscription
Pantheon Resources raising minimum $18.5 million via placing and subscription at 17 pence per share. |
−0.7% |
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Minimum fundraise amount $18.5 millionIssue price per share 17 penceConvertible Bond holder participation $4 millionConvertible Bond prepayment $4.9 millionShares issued for prepayment 22,380,254Contingent Recoverable Resources 1.57 billion bbls
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| 25 Jun 24 | Investor Presentation via Investor Meet Company
Pantheon Resources announces webinar presentation on financing strategy, Gas Sales Precedent Agreement, and independent expert reports. |
+1.8% | |
| 14 Jun 24 | Fundraise | Quarterly Bond, Private Placing & Funding Strategy
Pantheon issued 16.7m shares to repay convertible bond and raise working capital; targeting US listing in 2025. |
+5.0% |
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Quarterly bond payment US$2.72mPrincipal remaining on convertible bonds US$24.5mPrivate placement amount US$3.36mInterim funding requirement to Ahpun FID US$60-85mProspective Resource, Ahpun East c. 609 mmbblNew ordinary shares issued 16,701,233
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| 11 Jun 24 | CGA Initial Resource Estimate for Ahpun Topsets
Independent expert estimates 282 million barrels recoverable oil and NGL from Ahpun western topsets with $1.74bn NPV. |
−1.7% | |
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Ahpun topsets recoverable oil and NGL 282.06 mmbbl grossAssociated gas 803.85 bcf grossNet present value at $80/bbl (10% discount) $1.74 billionTotal company resources (Kodiak, Ahpun, Alkaid) exceeding 1.5 Bbbl ANS Crude and 6.5 Tcf gasPotential additional recovery from infill drilling c. 80 mmbbl
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| 05 Jun 24 | AGDC and PANR Sign Gas Sales Precedent Agreement
Pantheon signs gas sales precedent agreement with Alaska LNG to supply up to 500 mmcfd at $1/mmBtu. |
+26.6% | |
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Natural gas supply commitment up to 500 mmcfdBase price $1 per mmBtu (2024 dollars)Plateau delivery term 20 yearsContingent resources 6 Tcf natural gasTarget LNG production 20 mmtpa
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| 01 May 24 | Independent Expert Report by LKA on Alkaid Horizon
Independent expert confirms 79 mmbbl recoverable reserves and resources in Alkaid Horizon with real rates of return exceeding 20%. |
−8.4% | |
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Base case Possible Reserves (oil) 5 mmbblBase case Contingent Resources (oil) 74 mmbblHigh case Contingent Resources (oil) 123 mmbblTotal recoverable reserves and resources 79 mmbblReal rates of return (base case) exceeding 20%Present Worth at 10% discount $200.3m
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| 10 Apr 24 | Webinar and update
Pantheon to host webinar on Kodiak and Ahpun projects with new independent expert reports and resource estimates. |
−3.4% | |
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Kodiak Field contingent recoverable marketable liquids 1,207.9 million barrels (965.5 million barrels (2023))Kodiak Field natural gas 5,396.3 bcfAhpun Eastern Topsets prospective resource (P50) 609 million barrels of marketable liquidsAhpun Eastern Topsets acreage c.23,000 acresTotal leases 193,000 acres plus c.66,000 acres to be awardedPer well recoveries Ahpun Western Topsets 3.5-3.7 million barrels
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| 09 Apr 24 | Kodiak resource upgraded to 1.2 billion barrels
Kodiak field resource estimate upgraded 25% to 1.2 billion barrels by independent experts. |
+19.0% | |
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Kodiak recoverable marketable liquids (best estimate) 1,207.9 million barrelsKodiak recoverable marketable liquids (high estimate) 2,814.3 million barrelsKodiak recoverable gas (best estimate) 5.4 tcfResource upgrade from prior estimate 25% (963 million barrels)Acreage added from December 2023 lease bids c. 43,000 acres
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| 02 Apr 24 | Director dealing | Director/PDMR Shareholding
Robert Rosenthal and Jeremy Brest received shares via pro-rata in-specie distribution from Ursa Major Holdings. |
+7.7% |
| 28 Mar 24 | Progress on Funding and Development Planning
Pantheon advances Ahpun and Kodiak development planning and explores offtaker and vendor financing arrangements. |
+0.0% | |
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Ahpun Topsets EUR per well >2 mmbblFirst year average production rate 2,000 bpdAhpun Topsets and Alkaid Zone contingent recoverable resources 481 mmbblsProposed AGDC natural gas supply up to 500 mmcfdProposed natural gas price not to exceed $1/mmbtuProposed gas supply duration up to 40 years
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| 18 Mar 24 | Results | Unaudited Interim Results
Interim results show successful Alkaid-2 topset test exceeding estimates; 963 mmbbls Kodiak resource estimate; 66,240 additional acres acquired. |
−6.6% |
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After-tax loss $5.7m ($1.6m)Kodiak 2C Contingent Recoverable Resource 963 mmbbls marketable liquidsAlkaid-2 topset flow rate 50-140 bpdG&A expenses $4.0m ($3.7m)Cash on hand (31 Dec 2023) $0.2m ($16.3m)Additional acres acquired 66,240 acres
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| 14 Mar 24 | Quarterly Repayment of Unsecured Convertible Bonds
Pantheon Resources settles quarterly convertible bond repayment through issuance of 8.82 million new shares. |
−4.8% | |
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Quarterly principal repayment US$2.45 millionQuarterly interest payment US$0.294 millionNew ordinary shares issued 8,820,315Principal remaining on Convertible Bonds US$26.95 millionEnlarged issued share capital post-admission 944,218,427 shares
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| 05 Mar 24 | Response to Share Price Volatility
Confirms discussions with stakeholders about potential natural gas supply to South Central Alaska consumers. |
+11.2% | |
| 01 Feb 24 | Director dealing | Director/PDMR Shareholding
Executive Chairman David Hobbs purchased 980,455 shares at 20.80p following placement admission to AIM. |
−0.9% |
| 23 Jan 24 | Annual General Meeting
Annual General Meeting scheduled for 24 January 2024 at 3:00pm GMT in London, followed by shareholder webinar. |
+2.9% | |
| 19 Dec 23 | Results | Final Results
Year ended 30 June 2023 saw loss of $1.5m and successful Alkaid-2 testing supporting commerciality of Ahpun and Kodiak projects. |
+3.0% |
|
Loss from continuing operations $1.5 million ($13.9 million)Kodiak 2C Contingent Resource (NSAI) 962.5 million barrels of marketable liquidsOil in place estimate (SLB) 17.8 billion barrelsFundraising completed May 2023 $22 millionConvertible loan balance $29.4 million ($44.1 million at 1 July 2022)Cash and cash equivalents $7.8 million at 13 December 2023
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| 14 Dec 23 | Successful Acquisition of Leases
Pantheon acquired 66,240 acres of leases on Alaska's North Slope covering Kodiak and Ahpun field extensions. |
+12.2% | |
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New leases acquired 66,240 acresAverage winning bid price $31.83 per acreWestern Kodiak net recoverable resources (best estimate) 517 mmbblsEastern Ahpun net recoverable resources (best estimate) 317 mmbblsAnnual rental per acre $10Royalty rates 16.67% and 12.5%
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| 12 Dec 23 | Board change | Appointment of Independent Non-Executive Director
Linda Havard appointed as Independent Non-Executive Director and Finance, Audit & Risk Committee Chair effective 1 January 2024. |
−2.6% |
| 21 Nov 23 | Strategy Update
Pantheon updates strategy targeting Ahpun FID by end-2025 and first production in 2026, requiring $120 million capital. |
−5.7% | |
|
Ahpun contingent resources 481 million barrelsKodiak 2C contingent resources nearly 1 billion barrelsKodiak management estimate EUR 1.78 billion barrelsCapital required for first production $120 millionTotal lease acreage 193,000 acres
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| 15 Nov 23 | Investor Presentation via Investor Meet Company
Investor presentation scheduled for 21 November 2023 at 5:00pm GMT on strategy and operations. |
−4.2% | |
| 14 Nov 23 | Bond Payment, Placement & Corporate Update
Pantheon raises $4.15m via placement to fund convertible bond payments and progress strategic objectives. |
+12.9% | |
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Placement amount $4.15 millionPlacement price per share $0.255 (20.8p)New shares issued 16,286,343IPGL subscription $2,768,500Executive Chairman contribution $250,000New shares as % of outstanding capital 1.77%
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| 19 Oct 23 | Validation of frac design and fluid sampling
Alkaid-2 well re-entry successfully validated revised frac design and gathered fluid samples from SMD-B horizon. |
−8.4% | |
|
Frac efficiency SMD-B c.50%Frac efficiency Alkaid ZOI prior c.20%Gas oil ratio SMD-B 3,000 - 4,000 scf/bblGas oil ratio Alkaid ZOI 12,000 - 13,000 scf/bblAPI gravity SMD-B 35-36°Oil rate average during flow test 45 bopd
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| 18 Oct 23 | Pantheon Presenting at OTC Oil and Gas Conference
Pantheon Resources to present at Oil and Gas Virtual Investor Conference on October 19th. |
+2.5% | |
Company filings. Not investment advice.