TIDMPANR
RNS Number : 3981W
Pantheon Resources PLC
12 December 2023
12(th) December, 2023
Pantheon Resources plc
Appointment of Linda Havard as Independent Non-Executive
Director
Pantheon Resources plc (AIM: PANR) ("Pantheon" or "the
Company"), the oil and gas company with a 100% working interest in
the Kodiak and Ahpun projects, collectively spanning 193,000
contiguous acres in close proximity to pipeline and transportation
infrastructure on Alaska's North Slope, is pleased to announce the
appointment of Linda Havard as Non-Executive Director with effect
from 1(st) January, 2024.
Linda Havard joins the Board as a Non-Executive Director. Linda
has more than 35 years of experience as a financial and operating
executive in public oil and gas and entertainment companies as well
as professional services firms. She most recently served as Chief
Financial Officer of Gensler, the world's largest architecture and
design firm, where she was responsible for all aspects of finance,
including strategic finance, treasury, accounting, tax, internal
audit, financial planning and analysis, capital budgeting, business
systems and procurement for the firm's global operations.
Prior to joining Gensler, Linda served for six years as Chief
Financial Officer at the global law firm of Orrick, Herrington
& Sutcliffe, 13 years as Executive Vice President and Chief
Financial Officer of Playboy Enterprises and 15 years at Atlantic
Richfield Company (ARCO) (now BP Amoco), where she headed Corporate
Planning and Investor Relations, among other senior positions.
During her tenure at ARCO, Linda was a member of the Lyondell
Petrochemical Company Board, serving on its Finance & Audit
Committee.
Linda holds an MBA in Finance from the University of California
at Los Angeles (UCLA) and a PhD (honoris causa) in Business from
the Chicago School of Professional Psychology. She is a member of
the [Atlanta] Federal Reserve Board CFO Panel, the International
Women's Forum, and the Governing Body of the CFO Executive Summit.
Linda will chair Pantheon's Finance, Audit & Risk
Committee.
David Hobbs, Executive Chairman of Pantheon Resources, said: "We
are delighted to welcome Linda to the Board as an Independent
Non-Executive Director and as Audit Committee Chair. She brings a
deep expertise in finance and qualifies as a Financial Expert for
regulatory purposes as part of our transition programme, leading to
a US listing in 2025.
"Her appointment marks another important step - strengthening
our governance - in our strategy to deliver sustainable market
recognition of $5-$10 per barrel of recoverable resources by 2028.
Satisfying the requirement for at least two Independent
Non-Executive Directors removes another barrier to attracting
institutional investors onto the Company's share register. "
Commenting on her appointment, Linda Havard said: "I am excited
to join Pantheon's Board of Directors and look forward to working
with the Board and Executive team to bring the Company's
significant Alaska North Slope resources to production. I am eager
to actively contributing to the Company's achieving a US listing as
Chair of the Audit Committee of the Board."
Further information in relation to the Director appointment
Linda Havard (aged 68) (former surnames of Goldstien; Kunert)
has confirmed that, other than the information disclosed below,
there are no matters to be disclosed under Rule 17 and paragraph
(g) of Schedule 2 of the AIM Rules.
Current Trusteeship: Havard Family Trust
Directorship in last 5 years: M. Arthur Gensler &
Associates
As at the date of appointment, Linda Havard does not hold any
shares in Pantheon.
-ENDS-
Further information, please contact:
+44 20 7484
Pantheon Resources plc 5361
David Hobbs, Executive Chairman
Jay Cheatham, CEO
Justin Hondris, Director, Finance and Corporate
Development
Canaccord Genuity plc (Nominated Adviser +44 20 7523
and broker) 8000
Henry Fitzgerald-O'Connor
James Asensio
Ana Ercegovic
+44 20 7138
BlytheRay 3204
Tim Blythe
Megan Ray
Matthew Bowld
Notes to Editors
Pantheon Resources plc is an AIM listed Oil & Gas company
focused on developing the Ahpun and Kodiak fields located on state
land on the Alaska North Slope ("ANS"), onshore USA where it has a
100% working interest in 193,000 acres. Certified contingent
resources attributable to these projects exceeds 1 billion barrels
of marketable liquids, located adjacent to Alaska's Trans Alaska
Pipeline System ("TAPS").
Pantheon's stated objective is to demonstrate sustainable market
recognition of a value of $5-$10/bbl of recoverable resources by
end 2028. This will require targeting Final Investment Decision
("FID") on the Ahpun field by the end of 2025, building production
to 20,000 barrels per day of marketable liquids into the TAPS main
oil line, and applying the resultant cashflows to support the FID
on the Kodiak field by the end of 2028.
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
materially lower infrastructure costs and the ability to support
the development with a significantly lower pre-cashflow funding
requirement than is typical in Alaska.
The Company's project portfolio has been endorsed by world
renowned experts. Netherland, Sewell & Associates ("NSAI")
estimate a 2C contingent recoverable resource in the Kodiak project
that total 962.5 million barrels of marketable liquids and 4,465
billion cubic feet of natural gas. NSAI is currently working on
estimates for the Ahpun Field.
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END
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