RE: Zak Mir27 Dec 2023 13:51
Zak Mir
Pantheon Resources (PANR), the oil and gas company with a 100% working interest in the Kodiak and Ahpun projects, announced its results for the year ended 30 June 2023. Loss from continuing operations for the year after tax: $1.5 million (2022: $13.9 million). Reduction in convertible loan balance owed from $44.1 million at 1 July 2022 to $29.4 million as at the date of publication (i.e. after the December 2023 quarterly repayment). PANR said the period from 1 July 2022 until now has been one of immense progress and achievement for Pantheon. In fact, only last week it was the successful bidder for over 66,000 highly strategic acres, contiguous to the west and east of its existing leases.
Comment: It is right that shares of PANR have been on the front foot in the recent past ahead of today’s news, pushing back up from 17p. A move back up to October ranges in coming weeks towards 30p seems fair given the debt reduction moves here.