Proposed Fundraise and Capital Access Window
Summary by AI BETAClose X
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE RESTRICTED AND ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, NEW ZEALAND OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICES WITHIN THIS ANNOUNCEMENT.
FURTHER, THIS ANNOUNCEMENT IS MADE FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE SHARES IN PANTHEON RESOURCES PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY PANTHEON RESOURCES PLC TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
11 November 2026
Pantheon Resources plc
Proposed Fundraise and Capital Access Window
Pantheon Resources plc (AIM: PANR) ("Pantheon" or the "Company"), the oil and gas company developing the Kodiak and Ahpun oil fields in close proximity to pipeline and transportation infrastructure on Alaska's North Slope, announces its intention to undertake a subscription and placing to raise, in aggregate, gross proceeds of approximately £5.0 million (the “Proposed Fundraise”).
The Proposed Fundraise will be conducted at an issue price of 7 pence per new ordinary share.
The Company has received strong indications of interest from existing shareholders and potential new investors to support the Proposed Fundraise including the Non-executive Chairman, Michael Spencer, who is personally intending to subscribe for £750,000.
The Proposed Fundraise will provide liquidity while the Company continues to have substantial dialogue with several parties regarding farm-in negotiations. The Proposed Fundraise will provide the Company with operating working capital until approximately early June 2027.
While the ultimate outcome of any farm-in negotiations remains uncertain, detailed analysis of the recent seismic data is expected to lead to recoverable resource upgrades in the Kodiak field. The Company has identified an optimal target area for the up-dip Kodiak appraisal well. This would also enable testing of additional upside prospects that have been illuminated by the new seismic data.
Capital Access Window
The Company has decided to utilise a Capital Access Window for the Proposed Fundraise. The Capital Access Window is a voluntary pause in trading of a company's shares permitted under the AIM Rules for Companies, designed to make it easier for companies to reach a broader range of investors during a fundraise.
Accordingly, the Company's ordinary shares will enter a Capital Access Window as at 7.30 a.m. today, Wednesday 11 November 2026, and trading in the ordinary shares will be temporarily suspended. The Company expects to announce the details of the Proposed Fundraise, in due course. The Capital Access Window will remain open until the conclusion of the Proposed Fundraise, after which trading in the ordinary shares is expected to be restored.
This announcement does not constitute an offer of securities in any jurisdiction. Further announcements will be made as and when appropriate.
-ENDS-
For more information:
Pantheon Resources plc c/o H/Advisors
Nathan Cherry, SVP, Investor Relations
H/Advisors pantheonresources@h-advisors.global
(Financial PR Adviser)
Genevieve Ryan +44 (0)79 0308 8779
Nick Johnson +44 (0)77 9667 1036
Canaccord Genuity Limited +44 20 7523 8000
(Nominated Adviser and Joint Broker)
Henry Fitzgerald-O'Connor
Charlie Hammond
Corporate Broking Partners
Jerry Keen +44 203 973 3678
jerry.keen@corporatebrokingpartners.com
Corporate Broking Partners is a trading name of CAL Investments Limited, which is Authorised and Regulated by the Financial Conduct Authority (FRN: 114008).
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 of associated natural gas. The Company owns 100% working interest in c. 259,000 acres.
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 of ANS crude and 5,396 bcf 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 of 79 mmbbl of ANS crude and 424 bcf natural gas.
For more information visit www.pantheonresources.com.
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