25 June 2024 

Pantheon Resources plc  

Investor Presentation via Investor Meet Company

Pantheon Resources plc (AIM: PANR) ("Pantheon" or "the Company"), the oil and gas company with a 100% working interest in the Kodiak and Ahpun projects located in close proximity to pipeline and transportation infrastructure on Alaska's North Slope, confirms that it will be holding a webinar presentation and Q&A on Thursday 27 June 2024 at 17:00 BST (the "Webinar").

The Webinar is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 26 June 2024, 09:00 BST, or at any time during the live presentation.

Investors can sign up to Investor Meet Company for free and add to meet PANTHEON RESOURCES PLC via:

https://www.investormeetcompany.com/pantheon-resources-plc/register-investor

Investors who already follow PANTHEON RESOURCES PLC on the Investor Meet Company platform will automatically be invited.

About the Webinar 

In the Webinar, the management team will provide a corporate update covering three main topic areas:

1.    An overview of the Company's financing strategy;

2.    The significance of the Gas Sales Precedent Agreement executed this month with the Alaska Gasline Development Corporation; and

3.    The significance of the recently released Independent Expert Reports on (a) the Ahpun's Alkaid horizon by Lee Keeling & Associates, Inc., and (b) the Ahpun western topsets by Cawley Gillespie & Associates, Inc.  

ENDS

Further information, please contact:

Notes to Editors

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 more than 1.5 billion barrels of ANS crude and 6.5 Tcf of associated natural gas.

The Company owns 100% working interest in c. 193,000 acres. In December 2023, Pantheon was the successful bidder for an additional 66,240 acres with very significant resource potential to the west, reflected in NSAI's Kodiak IER and prospective resources to the east, contiguous with the Ahpun project. Following the issue of the new leases, which are expected to be formally awarded in summer 2024 upon payment of the balance of the application monies, the Company will have a 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 of 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 recently executed with AGDC foresees natural gas produced into the planned 807-mile pipeline from the North Slope to Southcentral Alaska during 2029. Should the Company achieve financial self-sufficiency on the Ahpun project, it will apply the resultant cashflows to support the FID on the Kodiak field, which, subject to regulatory approvals, is planned by the end of 2028.

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 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 mmbbl of ANS crude and 5,396 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 804 bcf of natural gas. Lee Keeling & Associates estimated possible reserves and 2C contingent recoverable resources totalling 79 mmbbl of ANS crude and 424 bcf.