Pantheon Resources

Pantheon's current certified contingent resource is 1.04 billion barrels of marketable liquids (oil, condensate and NGLs). In order to achieve this and maximise shareholder value, Pantheon will initially focus on pursuing the early development of the discovered oil resources closest to the TAPS main oil line and Dalton Highway. This type of develop... ment using Modular Arctic Production units should achieve positive cashflow that will support development of the discovered resources across the entire Pantheon ANS portfolio. The objective is to achieve sufficient financial strength that Pantheon is not reliant on raising further equity from the stock market or susceptible to opportunistic offers from industry players that seek to acquire the underlying asset value at a deep discount to underlying value. Pantheon's unique geographic location on the ANS, onshore North America, combined with innovative subsurface and surface production technologies put it in a position to control its own destiny in by achieving low-cost, near-term development options. Global underinvestment in oil and gas exploration over recent years, coupled with record high oil demand, has resulted in a shortage of new project inventory coming on stream in the short to medium term which Pantheon believes creates an opportunity for its 100% Kodiak and Ahpun projects to be globally significant over the coming years. Having 100% working interest in all its projects gives Pantheon the capacity to tactically use farm outs or other asset-based transactions (including swaps of non-producing assets for cashflow generating assets) as a method of funding future operations with long term partner(s). This is, in addition to considering equity, mezzanine and debt capital facilities supported by potential transition from contingent resources to proven reserves in due course. The guiding principle for the Company's funding strategy will be to minimise dilution of shareholders' value exposure in the underlying economic asset. Pantheon has a very experienced board ...Read More