Pantheon Res Regulatory News (PANR)

3 July 2023

Pantheon Resources plc 

Appointment of an Independent Non-Executive Director 

Pantheon Resources plc ("Pantheon" or "the Company"), the AIM-quoted oil and gas company with a 100% working interest in all of its oil projects spanning c. 193,000 acres adjacent and near to transportation and pipeline infrastructure on the Alaska North Slope ("ANS"), is pleased to announce the appointment of Allegra Hosford Scheirer as Non-Executive Director with immediate effect.

Allegra is an internationally recognised expert in petroleum system analysis, having deployed basin modelling, organic geochemistry, geophysical techniques, and machine learning to evaluate numerous oil and gas provinces throughout the world, including the Alaska North Slope. Allegra graduated with a Ph.D. in marine geology and geophysics from the Massachusetts Institute of Technology and subsequently worked with the Energy Resources Program at the U.S. Geological Survey ("USGS"). She has been a scientist at Stanford University for 15 years. 

  David Hobbs, Executive Chairman of Pantheon Resources, said: "We are delighted to welcome Allegra to the Board as an Independent Non-Executive Director. She brings a deep knowledge of the Alaskan North Slope Super Basin and a keen understanding of what it takes to transition from exploration to exploitation.  

"We have shared our strategic plan with Allegra and have benefitted from her input during the process. Her appointment marks the first step of many in our programme to deliver a sustainable market recognition of $5 - $10 per barrel of recoverable resource by 2028."

  Commenting on her appointment, Allegra Hosford Scheirer said: "I am very familiar with the technical programme being prosecuted by Pantheon, having previously worked closely with Great Bear Petroleum as an independent adviser and for the USGS. Pantheon has embarked on a strategy that promises to deliver value to shareholders over the coming months and years and I am excited to have the opportunity to contribute to the successful governance and implementation of the programme."

Further information in relation to the Director appointment

Allegra Hosford Scheirer (aged 51) has confirmed that, other than the information disclosed below, there are no matters to be disclosed under Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules.

As at the date of appointment, Allegra Hosford Scheirer does not hold any shares in Pantheon.

Current Directorships

Geomodelling Solutions LLC

-ENDS- 

 Further information, please contact: 

Notes to Editors 

Pantheon Resources plc is an AIM listed Oil & Gas company focused on several large projects located on the North Slope of Alaska ("ANS"), onshore USA where it has a 100% working interest in 193,000 highly prospective acres with potential for multi billion barrels of oil recoverable. Pantheon's stated objective is to deliver a sustainable market recognition of a value of $5-$10/bbl of recoverable resources by end 2028. This will involve targeting FID on the Ahpun field by the end of 2025, building production to 20,000 barrels per day of marketable liquids into the Trans Alaska Pipeline System (TAPS) main oil line through a hot tap, and applying the resultant cashflows to support the FID on the Kodiak field by the end of 2028. 

A major differentiator to other ANS projects is the close proximity to transport and pipeline infrastructure which offers a significant competitive advantage to Pantheon, allowing for materially lower capital costs and the ability to support the development with a significantly lower pre-cashflow funding requirement than is typical outside the US lower 48.