Pantheon Resources Plc Stock Price, News & Analysis

Pantheon Resources (AIM:PANR)(OTCQX:PTHRF), an oil and gas company focused on developing the Kodiak and Ahpun oil fields near pipeline and transportation infrastructure on Alaska's North Slope, has announced its Annual General Meeting (AGM) scheduled for 3pm on March 12, 2025.

The AGM will be followed by an investor presentation and Q&A session at approximately 3:10pm. The company has invited all shareholders and interested parties to participate, with registration available through the Investor Meet Company platform. The presentation materials will be accessible on the company's website before the AGM begins.

Pantheon Resources (PTHRF) has announced details of its planned flow testing programme for the Megrez-1 well in Alaska's North Slope. The well has identified seven discrete pay zones, with flow testing of six zones scheduled to commence before the end of March 2025.

Expected flow rates range from 200 to 2,000 barrels per day per zone. The testing program will prioritize data quality over maximizing initial flow rates, with the full testing programme taking up to four months. The deeper horizons will require hydraulic stimulation, while shallower horizons may not need the same level of stimulation.

The well, drilled at a 45-degree angle from the western side of the Dalton Highway, shows varying reservoir qualities. The deepest horizons align with Ahpun West topsets (1 milliDarcy or less), while permeabilities improve significantly in the shallower Prince Creek and Lower Sagavanirktok formations, exceeding a Darcy in the shallowest horizons.

Pantheon Resources (PTHRF) announced that Sun Hung Kai & Co. and its affiliates have exercised their right to increase the aggregate amount of senior convertible bonds from $30.5 million to $35 million. The convertible bonds are due March 2028, with all other terms remaining unchanged from the February 20, 2025 announcement.

The additional funds will be utilized for working capital, expenses, and G&A. According to Chairman David Hobbs, this upsize will provide extra runway for the company to complete flow testing in the Megrez-1 well and prepare for future activities. Pantheon Resources is an AIM-quoted oil and gas exploration company with 100% working interests in projects located adjacent to transportation and pipeline infrastructure on the Alaska North Slope.

Pantheon Resources, an AIM-quoted oil and gas exploration company with 100% working interests in projects near transportation and pipeline infrastructure on the Alaska North Slope, has announced key board changes. Max Easley's appointment as CEO has been expedited and became effective February 21, 2024.

Additionally, David Hobbs, the current Executive Chairman, has indicated his intention to transition back to a Non-Executive Chairman role once Mr. Easley is well established as CEO. This move is part of the company's evolving corporate governance structure.

Pantheon Resources (AIM:PANR) has appointed Max Easley as Chief Executive Officer, effective February 28, 2025, succeeding Jay Cheatham who will transition to a Non-Executive Director role. Easley, a native Alaskan with over 30 years of energy industry experience, brings extensive expertise from executive roles at BP, Apache , and PETRONAS Canada.

The appointment marks a strategic step toward the company's possible US listing and transformation from exploration to development and production. Easley's compensation package includes 400,000 Restricted Stock Units under the ESOP, 5 million options with various vesting criteria, and eligibility for ongoing senior executive grants.

Pantheon Resources is currently developing the Kodiak and Ahpun oil fields on Alaska's North Slope, positioned near pipeline and transportation infrastructure. The company views this as a critical inflection point, with plans to accelerate development and production of these resources.

Pantheon Resources announced preliminary results from its Megrez-1 well analysis in Alaska's North Slope, revealing potential significant resource upgrades. The analysis indicates a 15% - 50% increase in resource estimates compared to pre-drill estimate of 609 mmbbls in the four originally identified oil horizons.

The well intersected seven hydrocarbon-bearing horizons with a total hydrocarbon column of 2,425ft vertical thickness. The company plans four initial flow tests of 10 days each, beginning in Q1 2025, targeting Upper Schrader Bluff and Prince Creek formations. Three additional potential oil-bearing zones were identified in the Lower Sagavanirktok Formation, requiring further testing.

All reservoirs were confirmed to contain oil with associated natural gas. The Megrez-1 well's location near the Trans Alaska Pipeline and its larger-than-expected pool size make it particularly significant. Upon successful flow testing, resources are expected to be reclassified from prospective (2U) to contingent (2C) resources.

Pantheon Resources (PTHRF) announced significant findings from its Megrez-1 well analysis in Alaska's North Slope. The well revealed a larger hydrocarbon column than initially identified, with a total vertical thickness of 2,310ft. The company reported potential 15% - 50% resource upgrade in four originally identified oil horizons, with net pay thickness increased to 670ft TVT versus 300ft pre-drill estimate.

The analysis identified seven horizons containing liquid hydrocarbons, including three additional potential oil-bearing zones in the Lower Sagavanirktok Formation. The company plans four initial flow tests of 10 days each, beginning in Q1 2025, with three additional tests planned for the newly identified zones. All reservoirs are interpreted to contain oil with associated natural gas.

Upon successful flow testing, resources are expected to be reclassified from prospective (2U) to contingent (2C) resources. The company anticipates flow rates comparable to other Brookian discoveries on the North Slope, including Willow and Pikka/Horseshoe.

SemiLEDs (NASDAQ: LEDS) has released its financial results for Q1 FY2025, ended November 30, 2024. The LED chip and component manufacturer reported revenue of $1.3 million, unchanged from Q4 FY2024. The company's GAAP net loss slightly improved to $547,000 ($0.08 per diluted share) from $560,000 ($0.08 per diluted share) in the previous quarter.

The company showed improvement in margins, with GAAP gross margin increasing to 21% from 12% in Q4 FY2024, and operating margin improving to -52% from -62%. However, cash and cash equivalents decreased to $1.2 million from $1.7 million in the previous quarter.

Pantheon Resources has announced a significant discovery at the Megrez-1 well in Alaska's North Slope. The well has penetrated multiple horizons containing light liquid hydrocarbons over a 1,260ft vertical interval. Key findings include:

- Three hydrocarbon-bearing zones identified with porosities above 20%
- Light liquid hydrocarbons found across 2,060ft measured depth
- 60ft core taken with 100% recovery
- 50 sidewall cores collected across all three intervals

The company has completed operations within time and budget constraints, and has installed production casing for long-term testing scheduled to begin in early 2025. Detailed analysis of cores and reservoir characteristics is expected to be completed by February 2025.