27th Mar 2025 10:00
27 March 2025
Pantheon Resources plc
Director Dealing
Pantheon Resources plc ("Pantheon" or "the Company"), the AIM-quoted oil and gas exploration company with 100% working interests in the Ahpun and Kodiak projects spanning 258,000 acres adjacent to transportation and pipeline infrastructure on the Alaska North Slope, announces the following on market director purchases:
1. Jeremy Brest, non-executive director, has purchased 1,084,929 shares on market at an average price of £0.6918 per share. Following the purchase his ultimate beneficial ownership increases to 3,849,679 shares, representing 0.33% of the Company's total voting rights.
2. Linda Havard, non-executive director, has purchased 21,000 shares on market at an average price of £0.704 per share. Following the purchase her ultimate beneficial ownership increases to 118,559 shares, representing 0.01% of the Company's total voting rights.
This announcement, including the notification below, is made in accordance with the requirements of the EU Market Abuse Regulation.
Details of the transaction are reported in the PDMR Notification below:
1 | Details of the person discharging managerial responsibilities / person closely associated
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a) | Name | a. Jeremy Brest b. Linda Havard | |
2 | Reason for the notification
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a) | Position/status | a. Non-Executive Director b. Non-Executive Director
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b) | Initial notification/Amendment | Initial Notification
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3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Pantheon Resources plc
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b) | LEI | 213800SWHY5DNQS64J23
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4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
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a) | Description of the financial instrument, type of instrument | Ordinary shares of 1 pence each fully paid
ISIN: GB00B125SX82
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c) | Currency | GBP | |
d) | Price(s) and volumes(s) | Price(s) | Volume(s)
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a. £0.6918 b. £0.704 | a. 1,084,929 b. 21,000
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e) | Aggregated information - Aggregated volume - Price
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As above | |
f) | Date of the transaction | 25 March 2025 and 26 March 2025 | |
g) | Place of the transaction | London Stock Exchange - AIM market
| |
-ENDS-
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 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 FID and producing into the TAPS main oil line (ANS crude) by the end of 2028. The Gas Sales Precedent Agreement signed with AGDC provides the potential for Pantheon's natural gas to be produced into the proposed 807mile 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 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 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.
Further information:
UK Corporate and Investor Relations Contact Pantheon Resources plc
Justin Hondris [email protected]
Nominated Adviser and BrokerCanaccord Genuity LimitedHenry Fitzgerald-O'Connor, James Asensio, Charlie Hammond+44 20 7523 8000
Public Relations Contact BlytheRayTim Blythe, Megan Ray, Matthew Bowld+44 20 7138 3204
USA Investor Relations ContactMZ Group
Lucas Zimmerman, Ian Scargill+1 949 259 4987 [email protected]
IMPORTANT INFORMATION
This Announcement is released by Pantheon Resources plc and contains inside information for the purposes of Article 7 of UK MAR. It is disclosed in accordance with the Group's obligations under Article 17 of UK MAR.
Neither the content of the Company's website nor any website accessible by hyperlinks on the Company's website is incorporated in, or forms part of, this Announcement.
Related Shares:
Pantheon Resources plc