Core Viewpoint - Pantheon Resources PLC has announced its unaudited interim results for the six months ending December 31, 2025, highlighting a strategic repositioning around the Kodiak project as a key driver for shareholder value and ongoing efforts to secure partnerships for resource development [2][3][6]. Operational and Corporate Highlights - The company is actively pursuing farm-in opportunities, with multiple major energy companies evaluating its assets [3]. - Re-processing of 3D seismic data on the Kodiak project has been commissioned to enhance development planning [3]. - The Dubhe-1 well has been drilled and tested, confirming the presence of movable hydrocarbons, with further testing pending [3]. - A comprehensive cost reduction program has been initiated, including streamlining operations and reviewing contracts to minimize expenditures [3]. Financial Highlights - The after-tax loss for the period was $9 million, compared to a loss of $6.9 million in 2024 [4]. - Cash on hand as of December 31, 2025, was $24.5 million, up from $17.3 million in 2024 [4]. - The company raised $46.25 million in equity during the period to support the Dubhe-1 work program and ongoing corporate needs [4]. - Post-period, an additional $10 million was raised to support near-term appraisal activities [4]. AGM Results - All resolutions at the AGM held on March 12, 2026, were passed, although one resolution received over 20% of votes against it, prompting the board to engage with shareholders for feedback [5]. Future Outlook - The company aims to secure strategic partners to unlock the value of its resource base, with a focus on conserving financial resources [4][8]. - Interest in Alaska's oil and gas sector is at a high level, positioning the company favorably for development [7].

Core Viewpoint - Pantheon Resources plc is focused on developing its oil and gas fields in Alaska, with a significant webinar scheduled for December 22, 2025, to engage with shareholders and discuss company developments [1][2]. Company Overview - Pantheon Resources plc is an AIM listed oil and gas company that owns 100% of the Ahpun and Kodiak fields located on the North Slope of Alaska, covering approximately 259,000 acres [4]. - The company has independently certified contingent recoverable resources estimated at approximately 1.6 billion barrels of ANS crude and 6.6 trillion cubic feet (Tcf) of associated natural gas [4]. Development Objectives - Pantheon aims to achieve a market recognition value of around $5 per barrel of recoverable resources by the end of 2028, contingent on advancing the Ahpun field to Final Investment Decision (FID) and commencing production into the Trans-Alaska Pipeline System (TAPS) [5]. - The company has signed a Gas Sales Precedent Agreement with AGDC, which could facilitate the production of natural gas into a proposed 807-mile pipeline from the North Slope to Southcentral Alaska by 2029 [5]. Competitive Advantages - The proximity of Pantheon’s projects to existing roads and pipelines provides a competitive edge, allowing for shorter development timelines and lower infrastructure costs compared to typical projects in Alaska [6]. - The low CO2 content of the associated gas enables export without significant pre-treatment, further enhancing the project's viability [6]. Resource Estimates - The Kodiak project has a 2C contingent recoverable resource estimate of 1,208 million barrels (mmbbl) of ANS crude and 5,396 billion cubic feet (bcf) of natural gas, as per Netherland, Sewell & Associates [7]. - Cawley Gillespie & Associates estimate the Ahpun project's western topset horizons to have 282 mmbbl of ANS crude and 803 bcf of natural gas [7]. - Lee Keeling & Associates have estimated possible reserves and 2C contingent recoverable resources of 79 mmbbl of ANS crude and 424 bcf of natural gas [7].