Business
Final Results for the Year Ended 30 June 2025
Pantheon Resources plc reported a total comprehensive loss after taxation of $5.0 million for the year ended 30 June 2025, a significant improvement from the $13.4 million loss in the prior year, primarily due to non-cash accounting adjustments related to convertible bonds. The company successfully raised approximately $64.0 million during the financial year and an additional $46.25 million subsequently to fund its drilling programs and corporate activities. Operational highlights included the drilling and completion of the Megrez-1 exploration well and the Dubhe-1 appraisal well, with progress also made on the proposed Alaska Natural Gas Pipeline project. The company's resource estimates remain substantial, with approximately 1.6 billion barrels of ANS Crude and 6.6 trillion cubic feet of natural gas independently certified. Disclaimer*
About this update from Pantheon Resources Plc
[{"type":"text","content":"\n\n30 December 2025\n Pantheon Resources plc\nFinal Results for the Year Ended 30 June 2025\n \nPantheon Resources plc (AIM:PANR, OTCQX: PTHRF) (\"Pantheon\" or the \"Company\"), the oil and gas company developing the Kodiak and Ahpun oil fields immediately adjacent to pipeline and transportation infrastructure on Alaska's North Slope, announces its results for the financial year ended 30 June 2025 (\"Financial Year 2025\").\n \nFinancial Year 2025 and Subsequent Operational Highlights\n· Appointed seasoned energy executive Max Easley as Chief Executive Officer, who brings extensive upstream experience from senior roles at BP, Apache and PETRONAS Canada.\n· Further strengthened executive capability with appointment of senior U.S. finance executive Tralisa Maraj as Chief Financial Officer who brings more than 25 years of finance and capital markets experience with PwC, Remora Oil & Gas, CGX Energy, and LiveWire Group Inc. and Erich Krumanocker appointed as Chief Development Officer, bringing decades of international and domestic experience.\n· Appointed Alaska policy veteran Marty Rutherford to the Board of Directors.\n· Drilled and completed Megrez-1 exploration well. Although no hydrocarbons flowed to surface during flow testing period, it remains a development target for the future once permanent facilities enable longer-term, cost-effective flowback and processing.\n· Drilled and completed Dubhe-1 appraisal well in the Ahpun reservoir. Dubhe-1 was flow tested for 2 months prior to being shut in for static reservoir testing with an intention to restart further production testing in 2026.\n· Momentum continued on the proposed Alaska Natural Gas Pipeline (Alaska LNG - Phase 1) with Glenfarne Alaska LNG becoming the lead developer and making significant progress securing strategic partnerships, regulatory approvals and commercial interest from major Asian buyers and suppliers. Pantheon remains engaged with Glenfarne in working towards a Gas Sales Agreement, following the Gas Sales Precedent Agreement, signed in 2024.\n· Continued advancement on development planning, hot tap and environmental permitting for the ...