An announcement from Pantheon Resources ( (GB:PANR) ) is now available.
Pantheon Resources has announced its interim results for the six months ending December 31, 2024, highlighting significant operational and financial developments. The company appointed Max Easley as the new CEO and drilled the Megrez-1 test well, which exceeded expectations. A $35 million convertible bond issuance is expected to close soon, providing liquidity to further explore the Ahpun East area. The company is also progressing towards a U.S. listing to maximize shareholder value. Financially, Pantheon reported a reduced after-tax loss compared to the previous year and is preparing for a U.S. listing by adopting US GAAP accounting standards. The company’s strategic focus remains on achieving a sustainable market valuation and advancing its development projects while minimizing shareholder dilution.
More about Pantheon Resources
Pantheon Resources plc is an AIM-listed oil and gas company focused on developing its 100% owned Ahpun and Kodiak fields located on State of Alaska land on the North Slope, USA. The company holds a significant resource base with independently certified best estimate contingent recoverable resources totaling approximately 1.6 billion barrels of ANS crude and 6.6 trillion cubic feet of associated natural gas. Pantheon aims to achieve sustainable market recognition of $5-$10 per barrel of recoverable resources by the end of 2028, leveraging its proximity to existing infrastructure to reduce development timeframes and costs.
YTD Price Performance: 118.97%
Average Trading Volume: 6,468,893
Technical Sentiment Signal: Sell
Current Market Cap: £752.1M
For detailed information about PANR stock, go to TipRanks’ Stock Analysis page.