Pantheon Resources PLC Announces New Executive Team Appointments

Rhea-AI Summary

Pantheon Resources (PTHRF) has announced key executive appointments to support its transition from exploration to development and production, alongside plans for listing on a senior US exchange. Tralisa Maraj, with over 25 years of experience and previous CFO roles at public companies, will join as Chief Financial Officer effective July 14, 2025. Erich Krumanocker, bringing 25+ years of global experience including BP North Slope operations, has been appointed as Chief Development Officer. The appointments come as Bob Rosenthal, a company founder, announces his retirement. Both new executives will receive compensation packages including 375,000 Restricted Stock Units and 750,000 options. The company is developing the Kodiak and Ahpun oil fields in Alaska's North Slope, with independently certified resources of 1.6 billion barrels of ANS Crude and 6.6 tcf of natural gas.

Positive

• Appointment of experienced executives with combined 50 years of relevant industry experience
• New CFO brings public company experience, crucial for planned US exchange listing
• New CDO has direct North Slope operations experience from BP
• Company has significant certified resources: 1.6 billion barrels of crude and 6.6 tcf of gas
• Strategic transition from exploration to development and production phase

Negative

• Loss of founding member and technical leader Bob Rosenthal through retirement
• Potential dilution from new executive compensation packages including RSUs and options
• Company still in pre-revenue phase

LONDON, UK / ACCESS Newswire / June 9, 2025 / Pantheon Resources plc (AIM:PANR) ("Pantheon" or the "Company"), an oil and gas company developing the Kodiak and Ahpun oil fields in close proximity to pipeline and transportation infrastructure on Alaska's North Slope, is pleased to announce the following appointments to the Executive Team to complete the next phase of its strategic plan-transitioning to development and production and listing on a senior US exchange.

Appointment of Tralisa Maraj as Chief Financial Officer
Tralisa Maraj has been appointed Chief Financial Officer ("CFO"), succeeding Phil Patman. Tralisa's appointment will be effective 14 July, 2025.

In her role as CFO, Tralisa will lead the Finance Team to complete the transformation of Pantheon from a pre-revenue AIM-listed enterprise to a material Alaska North Slope producer listed on a senior U.S. exchange. She brings with her more than 25 years of experience, including having previously been the CFO of two publicly listed companies.

Tralisa's career began at Price Waterhouse Coopers in Trinidad. Having established herself as a Finance Executive, she became corporate controller at Remora Oil and Gas, followed by her appointment as CFO for Canadian-listed CGX Energy, and most recently, as CFO of the US-listed LiveWire Group Inc.

Tralisa is a chartered accountant (UK) and licensed CPA in Texas.

Appointment of Erich Krumanocker as Chief Development Officer
Erich Krumanocker has been appointed Chief Development Officer ("CDO"), succeeding Bob Rosenthal, to spearhead the Company's subsurface technical leadership. Bob has indicated his desire to step down from the Board of Directors and retire from the Company at the conclusion of the Company's upcoming board meeting on 13 June, 2025.

In his role as CDO, Erich will manage the transition of projects from exploration and appraisal through to development and production. Erich brings with him over 25 years of global experience in driving development, operations and project execution at scale across multiple continents.

Erich's career originated as a Petroleum Engineer with BP plc on the North Slope of Alaska, with vast experience in the North Sea, Azerbaijan and the U.S., with his BP career culminating as a VP of Production and Operations. Erich joins Pantheon most recently from Microsoft, where he served as a Partner leading digital transformation across the manufacturing and energy sectors.

Max Easley, Chief Executive Officer, commented: "We are delighted to welcome Tralisa and Erich to the Pantheon Executive Team. They will be key in enacting our pivot from a world-class exploration and appraisal team to an equally successful development and operations team. Pantheon will benefit from a combined 50 years of international experience between the two. I also want to thank Phil Patman for his efforts in delivering a strong financial platform for growth through this transition and an ultimate US listing."

David Hobbs, Pantheon's Chairman, added: "I would like to add my welcome to Tralisa and Erich. In addition, I also want to express my personal gratitude to Bob Rosenthal, who has been a key member of the leadership of the Company. He was a founder of Pantheon some 20 years ago, then became a founder of Great Bear a few years later. Bob returned to Pantheon 7 years ago to help with the acquisition of Great Bear and then lead the technical team through the journey of discovering and appraising the Ahpun and Kodiak fields to demonstrate the potential for resources that are now independently certified at some 1.6 billion barrels of ANS Crude and 6.6 tcf of natural gas. His leadership has helped position the Company to be a significant part of Alaska's energy future."

Further information on these appointments:
As part of these appointments, and to align with other executives and the wider interests of shareholders, the new executives will receive the following:

• One-off grant of 375,000 Restricted Stock Units under the Employee Share Ownership Plan ("ESOP") announced in October 2024, vesting over three years

• 750,000 options with various time-based and operational vesting criteria

• Be eligible for ongoing standard senior executive grants under the ESOP

The Company expects to grant these awards as soon as administratively and regulatorily practicable. An additional announcement, including further details of their terms, will be made once they are awarded.

As is common with US-based businesses, it is not anticipated that the CFO or CDO role will be a Board position.

The following details in relation to the appointment of Tralisa Maraj are disclosed in accordance with AIM Rule 17 and Schedule 2(g) of the AIM Rules:

Tralisa Sita Maraj (aged 50) has held the following directorships and/or partnerships in the past five years:

Current directorships or partnerships		Previous directorships or partnerships
Aliana Consulting LLC All About the Pups.Org Blade MJ LLC Cyber App Solutions Corp (trading as Proton Green) LiveWire EV LLC LiveWire France SAS LiveWire Germany GMBH LiveWire Motorcycles Canada Inc LiveWire Netherlands BV LiveWire Switzerland GmbH LiveWire UK Ltd StaCyc LLC Stratovate Ventures & Solutions Group LLC The Rusty Hook Galveston LLC TMJ Realty Group LLC		CGX Energy Management Corp. CGX Resources Inc. GCIE Holdings Ltd Grand Canal Industrial Estates Inc. ON Energy Inc.

There is no further information to be disclosed in relation to the appointment of Tralisa Maraj pursuant to AIM Rule 17 or Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

-ENDS-

For further information, please contact:

UK Corporate and Investor Relations Contact
Pantheon Resources plc
Justin Hondris
+44 20 7484 5361
contact@pantheonresources.com

Nominated Adviser and Broker
Canaccord Genuity Limited
Henry Fitzgerald-O'Connor, James Asensio, Charlie Hammond
+44 20 7523 8000

Public Relations Contact
BlytheRay
Tim Blythe, Megan Ray, Matthew Bowld
+44 20 7138 3204

USA Investor Relations Contact
MZ Group
Lucas Zimmerman, Ian Scargill
+1 949 259 4987
PTHRF@mzgroup.us

About Pantheon Resources
Pantheon Resources plc is an AIM-listed Oil & Gas company focused on developing its 100% owned Ahpun and Kodiak fields located on State of Alaska land on the North Slope, onshore USA. Independently certified best estimate contingent recoverable resources attributable to these projects currently total c. 1.6 billion barrels of ANS crude and 6.6 Tcf (trillion cubic feet) of associated natural gas. The Company owns 100% working interest in c. 259,000 acres.

Pantheon's stated objective is to demonstrate sustainable market recognition of a value of $5-$10/bbl of recoverable resources by end 2028. This is based on bringing the Ahpun field forward to FID and producing into the TAPS main oil line (ANS crude) by the end of 2028. The Gas Sales Precedent Agreement signed with AGDC (Alaska Gasline Development Corporation) provides the potential for Pantheon's natural gas to be produced into the proposed 807-mile pipeline from the North Slope to Southcentral Alaska during 2029. Once the Company achieves financial self-sufficiency, it will apply the resultant cashflows to support the FID on the Kodiak field planned, subject to regulatory approvals, targeted by the end of 2028 or early 2029.

A major differentiator to other ANS projects is the close proximity to existing roads and pipelines which offers a significant competitive advantage to Pantheon, allowing for shorter development timeframes, materially lower infrastructure costs and the ability to support the development with a significantly lower pre-cashflow funding requirement than is typical in Alaska. Furthermore, the low CO2 content of the associated gas allows export into the planned natural gas pipeline from the North Slope to Southcentral Alaska without significant pre-treatment.

The Company's project portfolio has been endorsed by world-renowned experts. Netherland, Sewell & Associates estimate a 2C contingent recoverable resource in the Kodiak project that total 1,208 mmbbl (million barrels) of ANS crude and 5,396 bcf (billion cubic feet) of natural gas. Cawley Gillespie & Associates estimate 2C contingent recoverable resources for Ahpun's western topset horizons at 282 mmbbl of ANS crude and 803 bcf of natural gas. Lee Keeling & Associates estimated possible reserves and 2C contingent recoverable resources totalling 79 mmbbl of ANS crude and 424 bcf natural gas.

For more information visit www.pantheonresources.com.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Pantheon Resources PLC

View the original press release on ACCESS Newswire

FAQ

Who are the new executives joining Pantheon Resources (PTHRF)?

Tralisa Maraj is joining as CFO effective July 14, 2025, and Erich Krumanocker is joining as Chief Development Officer. Both executives bring over 25 years of experience in their respective fields.

What is Pantheon Resources' (PTHRF) current development status in Alaska?

Pantheon is developing the Kodiak and Ahpun oil fields on Alaska's North Slope, with independently certified resources of 1.6 billion barrels of ANS Crude and 6.6 tcf of natural gas.

What compensation will the new PTHRF executives receive?

The new executives will receive 375,000 Restricted Stock Units vesting over three years, 750,000 options with various vesting criteria, and eligibility for ongoing senior executive grants under the ESOP.

Why is Pantheon Resources making these executive changes?

The company is transitioning from exploration to development and production, while preparing for a listing on a senior US exchange, requiring experienced leadership for this new phase.

Who is retiring from Pantheon Resources?

Bob Rosenthal, a founder of Pantheon and key technical leader, is retiring and stepping down from the Board of Directors after the June 13, 2025 board meeting.