Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) said that its executive chairman and all non-executive directors have agreed to subscribe for a total of £55,480 worth of new ordinary shares in the Alaska-focused oil explorer. The subscription will result in the issue and allotment of a total of 261,696 new ordinary shares at an issue price of £0.212 per share, the closing price on 30 October 2024.
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) introduced a new employee stock ownership plan (ESOP) aimed at strengthening the alignment of employee incentives with shareholder interests. The revised ESOP, replaces a previous plans, comprises a Share Award Scheme for all employees and a Long-Term Incentive Plan (LTIP) for senior executives â with employees receiving restricted stock units (RSUs), vesting over a period of three years.
Baytex Energy, despite delisting and rejoining the NYSE, has a sustainable business model and ongoing income, unlike Pantheon Resources. Pantheon Resources saw a temporary stock price surge post-2020, but lacked earnings and cash flow to sustain it. Baytex "accidentally" benefitted from technology progress that made the Clearwater wells extremely profitable while working on its Duvernay discovery.
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) has announced the appointment of Philip Patman as its new chief financial officer. The appointment sees the CFO role relocated to Houston, with the move coming as the Alaska-focussed oil and gas junior advances it intended plan to add a listing of its shares in the United States, subject to market conditions.
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) told investors it is advancing preparations for the Megrez-1 exploration well, expected to spud next quarter. The well will be drilled from a gravel pad adjacent to the Dalton Highway on Alaska's North Slope, offering year-round operational capabilities, unlike traditional ice pads, which are constrained by the winter season.
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) has secured the Nabors 105AC rig to drill the Megrez-1 well in the fourth quarter of 2024. Siteworks for construction of a gravel pad along the west side of the Dalton Highway are expected to begin in September with the drill rig to be mobilised when these are complete.
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) has raised $29 million in what the explorer called a âheavily oversubscribedâ equity funding, that promises to advance its assets in Alaska. High demand for shares saw the company increase the size of the funding round to $29 million, after asking initially for a minimum of $18.5 million.
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) told investors it has elected to make its quarterly bond payment, including interest, of $2.72 million using equity - through the issue 7.47 million new shares priced at $0.364 each. The company, also, said it has raised $3.36 million of new capital, through a private placing to existing long-term shareholders.
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) has today revealed an expert opinion that determines the Ahpun âtopsets' resource, on the west side of the Dalton highway, can be economically developed. The Alaska-focused oil and gas company, in a statement, announced the results of an initial resource estimate for the western topset horizons in the Ahpun oil and gas field.
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) has announced it has entered into a gas sales precedent agreement (GSPA) with a subsidiary of the Alaska Gasline Development Corporation (AGDC). The GSPA envisages that Pantheon will supply up to 500 million cubic feet per day of natural gas at a base price of $1 per million BTU.