(Alliance News) - Pantheon Resources PLC on Wednesday announced that it has qualified to trade on the OTCQX market.
The London-based oil and gas company said that graduating to the OTCQX will enhance its exposure to US investors.
The OTCQX is the top tier of three marketplaces for over-the-counter trading of stocks in the US. Over-the-counter trading is the process of trading securities via a broker-dealer network rather than a centralised exchange.
Pantheon previously traded on the Pink Market, the lowest and most speculative tier.
Pantheon will trade under the ticker symbol of PTHRF.
The company has a 100% interest in all of its oil projects spanning 153,000 acres adjacent and near to transportation and pipeline infrastructure on the Alaska North Slope.
Chief Executive Officer Jay Cheatham said: "This is an excellent opportunity for the company to be able to provide fully transparent trading to our U.S. investors in real-time, and to help further increase both accessibility and visibility to trade Pantheon stock for U.S. investors at this key stage in our journey. Given 100% of our oil and gas assets are located onshore USA, this is a logical step for our company."
Shares in Pantheon were trading 1.9% lower at 123.000 pence in London on Wednesday afternoon.
By Chris Dorrell; chrisdorrell@alliancenews.com
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Pantheon Resources plc (PANR)