Settlement of Lease Dispute

RNS Number : 6378R

Pantheon Resources PLC

25 September 2017

 

25 September 2017

Pantheon Resources plc

Settlement of Lease Dispute

 

Pantheon Resources plc ("Pantheon" or "the Company"), the AIM-quoted oil and gas exploration company with a working interest in several conventional projects in Tyler and Polk Counties, onshore East Texas, is pleased to confirm that the lease dispute with certain third parties as disclosed in Pantheon's announcement of 27 July 2017 has been settled on the terms disclosed therein. Accordingly, Pantheon's working interest in the units associated with the VOBM#1 and VOBM#2H wells has been reduced from 58% to 55.1%, after well payout. No cash or additional consideration was paid in relation to this settlement.

Further information:

Pantheon Resources plc	[phone]
Jay Cheatham, CEO
Justin Hondris, Director, Finance and Corporate Development
Stifel Nicolaus Europe Limited (Nominated Adviser and broker)	[phone]
Callum Stewart
Ashton Clanfield
Nicholas Rhodes
FTI Consulting	[phone]
Ed Westropp
James Styles

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

The information contained within this RNS is considered to be inside information prior to its release.

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website

 

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