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I think you are correct James as do a few in the know 😊

https://www.reddit.com/r/3CPG_PetroleumGeology/comments/1r2x0od/the_arco_alaska_along_with_partner_conocophillips/

“ There was also a brief discussion with committee members regarding the potential for the delivery of natural gas with a low carbon dioxide content from a field that Great Bear Pantheon is planning to develop close to the North Slope Haul Road. Crowther commented that Great Bear Pantheon is still evaluating the nature of the resource in the field and discussing the project with potential product buyers and investors.”

Source: https://www.petroleumnews.com/pntruncate/195762535.shtml

The flow test program would be financed through a $35 million

convertible bond issuance, led by Sun Hung Kai & Co. Ltd., ex-

pected to close before the end of March.

The company also said that it is moving toward a future U.S.

stock listing.

Check page 27

Https://www.petroleumnews.com/products/Exp_2025.pdf

My pleasure…unlike you I do my own research and do not question every post on this board which you by all accounts you do. It’s for opinions and opinions only…don’t ever forget that and with a little bit of respect for your valued opinion…rather add add value than tear people to pieces…good luck with this investment…I am still in…down on paper though.

Tony…glad you realized that…you have no buddies whatsoever and are a real fart.

Tony with your sarcasm not surprised you left Qatar….listen again and learn rather than being such an obnoxious fart,

https://www.investormeetcompany.com/meetings/investor-update-80

James…ignore Tony…all he does is criticize other people posts and adds no value whatsoever….even though he has been in the industry it is rather surprising that he has adopted this approach as he has been in the industry and has a lot to offer this BB.

Pantheon up 4% in USA.

https://finance.yahoo.com/quote/PTHRF/

Governor Mike Dunleavy talks about Glenfarne and the Gasline and the LNG Project.

Link: https://www.youtube.com/live/f8X7wwshKHM?si=z41rhsELdNGRbhQd&t=5572

For those interested….Pantheon gets mentioned :-)

https://www.reddit.com/r/3CPG_PetroleumGeology/comments/1qf13nk/3d_earth_modeling_examples_a_visual_look_at/

Farmout Potential: Pantheon Resources announced yesterday that they are in farmout discussions with several parties indicating that they expect that the reprocessed seismic data for Kodiak will strengthen the company’s position in those discussions – clearly bullish.

Degrees of Freedom: The capital raise is significant because it underlines investor recognition of the quality and latent value of the company’s resource base. Capital from the equity market significantly increases the company’s degrees of freedom to best unlock the value of its resources. We highlight that the company continues to retain operatorship and 100% interests in its licences – key strategic advantages. We expect 2026 to be a critical year for Pantheon Resources as it makes strategic decisions relating to how best to progress value creation from its resource base.

Alaska Gas Pipeline: Under a success-case scenario we believe that Ahpun is the most optimal resource to provide feedstock for the Phase 1 of the Alaskan Natural Gas and LNG project. We expect further momentum and catalysts to support that pipeline to be announced in 2026, noting that the project is a clear priority of the Trump Administration.

Funding Secures a Catalyst Rich Outlook: Near-term newsflow pertaining to Ahpun (Dubhe-1) in addition to progress at Kodiak (seismic; farmout; drilling), combined with the potential for strategic announcements from the company suggest that the company has a strong pipeline of potentially value accretive events. We anticipate a positive share price trajectory given the outlook and the potential upside value at stake.

Any further value you need to add Tony ? Sounds like a deramp to me.

This why…..:-)

What is the status of your Gas Sales and Purchase Agreement (GSPA) with 8 Star Alaska, and when could revenues begin?

Pantheon expects to convert its GSPA with 8 Star Alaska into a take-or-pay contract in a time frame consistent with AKGL FID. The Company would not enter into a contract that contains delivery obligations (consistent with the buyer’s volume commitments) until testing of the Dubhe-1 well confirms long term deliverability. Previous guidance has been that such a contract would be capable of supporting up to $250m in project debt based on the expected build up to plateau rates. Gas revenues can only commence once Alaska LNG Phase 1 is operational.

Source : https://www.pantheonresources.com/index.php/investors/q-and-a

The other aspect is determining what type of well the Dubhe-1H will be designated. There are specific rules for Gas Wells vs Oil Wells when developing a field. The GOR determines if the well is classified as an Oil well or a Gas well. I.E., If the GOR is equal to or less than 6,000 cf/b, the EIA classify the well as an oil well for that year. If the GOR is greater than 6,000 cf/b, we classify the well as a natural gas well for that year.

There you go mate…..I in fact hope it’s a gas well rather than an oil well :-)

Happy new year Leesteuk…..you continue to sprout absolute nonsense as per usual so I guess your modus operanda has not changed at all…..

The claim that “none of PANR wells have been successfully flow tested” is incorrect.

Megrez-1 has undergone flow testing and produced hydrocarbons.

Ahpun wells have not yet reported flow test results, so that part of the statement remains true.

Flow testing is a technical milestone, but commercial viability still depends on sustained flow rates, infrastructure, and economics. You need to understand that and take this as a bit of free education. :-)

Great find Brombard….as soon as they are released to the public the retail clan will know….as you say anyone with access to their data room already knows…..last in the Que…..behind Qube……again !!….Retail always take the knock somehow…:-)

But somehow I think we are on a winner here.

Pantheon Resources Flash Note PANR-GB Target 8.22p 28.0p (29.2p) Outlook for 2026 8 January 2026 Rec: Buy NAV: Full success-case value: 417.9p Risked target price: 28.0p Upside to full success-case: 5,060% Upside to target price: 246% We believe that operational and funding developments in respect of the Dubhe-1 well (appraising the Ahpun oil discovery) and the super-giant Kodiak oil discovery have potential to be transformative for Pantheon Resources in 2026. Dubhe-1/Ahpun: A pressure build up test and most importantly continued production testing (in the spring) stand to have positive implications for the Ahpun field. With only a 5% chance of success included in our target price the upside from any successful developments would be massive (success case valuation: 110.7 p/sh). Kodiak: Kodiak (1.2 billion barrels of 2C recoverable liquids as estimated by Netherland Sewell & Associates) remains the main prize within the company’s portfolio. Appraisal drilling would cost circa $35m-$40m according to the company – with drilling possible only in the winter when ice roads and drilling pads can be built. We estimate success at Kodiak would amount 205.1 p/sh. Alaskan Natural Gas Pipeline: We believe that the company’s Ahpun resource would be uniquely optimal for the provision of natural gas feedstock for Phase-1 of the proposed Alaska LNG project (Phase 1 involves the provision of natural gas via an 800-mile pipeline)

Https://alaskabeacon.com/2025/12/22/alaskas-44-billion-bet-on-natural-gas/

Merry Christmas guys and lasses. Wishing you and yours all the very best and may we all have a prosperous new year :-)

See you in the new year xxx