Invitation to Alaskan Project Update and Q&A

RNS Number : 1541M

Pantheon Resources PLC

12 September 2019

 

12 September 2019

 

Pantheon Resources plc

 

Invitation to Pantheon Resources Alaskan Project Update and Q&A

Pantheon Resources Plc ("Pantheon" or "the Company") would like to invite shareholders and any interested parties to a presentation, followed by a question and answer session to be held from 10.00 to 11.30am on 24 September 2019 at the offices of Bryan Cave Leighton Paisner (BCLP), Adelaide House, London Bridge, London, EC4R 9HA.

The Company presentation will be made by Bob Rosenthal, Technical Director & Chief Geologist and Justin Hondris, Director, Finance and Corporate Development.

A copy of the presentation will be made available on the Company website following the event.

Jay Cheatham, CEO, stated:

"The Company has made exceptional progress since the AGM in January. The Alaskan Project Update presentation will show clear evidence of this progress by sharing the Company's enhanced understanding of the geological potential of our Alaskan assets.

"The Company has received multiple expressions of interest from highly qualified parties to engage in the dataroom process, which is now under way. Bob Rosenthal will be in London for a few days later this month as part of the farm out process which also serves as an opportune time to brief shareholders on the significant progress made in Alaska since the Great Bear acquisition was finalised and the Alkaid discovery well successfully flow-tested. I encourage shareholders to attend if their diary permits."

-ENDS-

Further information:

Pantheon Resources plc	[phone]
Jay Cheatham, CEO
Justin Hondris, Director, Finance and Corporate Development
Arden Partners plc (Nominated Adviser and broker)	[phone]
Paul Shackleton Daniel Gee-Summons Blytheweigh (PR) Tim Blythe Julia Tilley	[phone]

Notes to Editors

Pantheon Resources plc is an AIM listed Oil & Gas exploration and production company with assets in East Texas and on the North Slope of Alaska, onshore USA.

The Group's stated objective is to create material value for its stakeholders through oil exploration, appraisal and development activities in high impact, highly prospective assets, in the USA; a highly established region for energy production with infrastructure, skilled personnel and low sovereign risk. All operations are onshore USA, with drilling costs an order of magnitude below that of offshore wells.

In East Texas, Pantheon holds a 50% to 75% working interest ("WI") in several conventional prospects in Tyler & Polk Counties, in an area of abundant regional infrastructure, and in proximity to the prized Double A Wells Field. Pantheon has the ability for this working interest position to increase to 100% should the minority partner not be in a position to meet its pro rata share of future drilling and operating costs.

In Alaska, following its acquisition of the assets of Great Bear Petroleum in January 2019, Pantheon holds working interests ranging between 75% and 90% of prospects covered by circa 1,000 square miles of 3D seismic which have a potential P50 Technically Recoverable Resources (gross) estimated at over 1.2 billion barrels of oil.

For further information on Pantheon Resources plc, see the website at: www.pantheonresources.com

 

END

 

 

NRACKBDNDBKDKCD