Pantheon Resources — Shareholder Meeting (December 2011)

5 slides from Pantheon Resources's shareholder meeting presentation, Dec 9, 2011

Slide 1: AGM Presentation
AGM Presentation 9 December 2011
Slide 2: Disclaimer
Disclaimer These presentation materials (“presentation materials”) are for information purposes only and do not constitute an offer or invitation to subscribe for or purchase any securities, and neither the Presentation Materials nor anything contained herein nor the fact of their distribution shall
Slide 3: Tyler County Project – Size of the Prize
Tyler County Project – Size of the Prize • Geologically, the asset has been further enhanced. • Austin Chalk (Primary Target) – unchanged – Low geological risk. – Estimated average of 8bcfe per well. – Profitable at current low U.S. natural gas prices but high leverage to any increase. • Woodbine (S
Slide 4: Delays
Delays • Macroeconomic Reasons – Not geologic. – Falling U.S. natural gas prices – impact of shale gas production. – Material increase in drilling and service costs. – Tight rig market – rig utilization at record levels. – Contracting for a single well slot during record demand. – Operator demand fo
Slide 5: Current Status
Current Status • Site completed. • Farm out negotiations are at an advanced stage for restructuring of the JV. • Expected result is a new operator and an advancement of the drilling programme. • Outcome of these negotiations probable in 1Q 2012. • Drilling expected thereafter. • KF#1H well to target