Pantheon Resources PLC Forthcoming AGM and Coronavirus precautions (1501G)
13 Marzo 2020 - 3:56PM
UK Regulatory
TIDMPANR
RNS Number : 1501G
Pantheon Resources PLC
13 March 2020
13 March, 2020
Pantheon Resources plc
Forthcoming AGM and Coronavirus precautions
In view of the emerging threat of COVID-19, Pantheon Resources
plc ("Pantheon" or "the Company") advises that whilst its upcoming
Annual General Meeting ("AGM") will, based on current advice, be
held at the offices of Bryan Cave Leighton Paisner, Adelaide House,
London Bridge, London, EC4R 9HA, on Friday, 20(th) March at 3.30pm,
this will be kept under review.
The Company advises that the formal business of the AGM and
shareholder presentation will now be split up and held as separate
and individual events, with only the formal business set out in the
notice of meeting being considered at the AGM.
Annual General Meeting
The formal AGM to consider and vote upon the various resolutions
set out in the notice of meeting will currently go ahead as
planned, however it will be attended only by London based officers
of the Company and other officers and advisers will not be in
attendance. No shareholder presentation will be given, rather this
will be held as a separate Webinar event as detailed below. Non UK
based directors of the Company will not travel to London for the
meeting and shareholders are actively encouraged to consider
whether their attendance at the AGM in central London in person is
necessary. Shareholders wishing to vote on any of the matters of
business are urged to do so through completion of a proxy form
which can be completed and submitted to the Company. A copy of the
proxy form is available to be downloaded from the Shareholder
Document section of the Company website at
www.pantheonresources.com
Proxies should be completed and returned in accordance with the
instructions on the form of proxy and the latest time for lodging
proxies is 3:30 pm on Wednesday 18 March 2020. The completion and
return of a form of proxy will not preclude a member from attending
in person at the meeting and voting should the member wish to do
so. In order that any proxy votes of those members who choose to
not attend and vote in person are fully reflected in the voting on
the resolutions, the Chairman will direct that voting on all
resolutions set out in the notice of meeting will take place by way
of a poll. Under the Company's Articles, votes on a poll may be
given personally, by a corporate representative or by Proxy. Every
shareholder who is present in person or by a corporate
representative or by Proxy shall have one vote for each share held
by them.
Shareholder presentation
The shareholder presentation and Q&A which would have taken
place at the AGM will be held as a separate event by Webinar at 3pm
GMT on the afternoon of Monday, 23(rd) March, 2020. All
shareholders and other interested parties are welcome to take part.
Details on how to access the Webinar will be made available early
next week.
Jay Cheatham, CEO, said:
"This decision is a sensible one. We owe a duty of care to
staff, shareholders, and to the general public to minimise the
unnecessary movement of people at this time. Also, with the various
travel restrictions occurring in different parts of the world, it
is important that my fellow directors and I are able to get back
into the USA. The Board was really looking forward to meeting with
shareholders again, following on from an excellent set of meetings
in late January. At the appropriate time we will return and share
the progress that has been made since then, including an early
insight into the significant advancements at Talitha. Even in this
new lower oil priced world, our Alaskan assets remain highly
attractive, being conventional, beneficially located under pipeline
and transport infrastructure. Our projects have enormous scale,
with decades of development potential and so it is the long term,
rather than the short-term price that is most important. We have
cash in the bank and aim to be beneficiaries of the significant
drilling and operating cost reductions expected to occur."
-ENDS-
Further information:
Pantheon Resources plc +44 20 7484 5361
Jay Cheatham, CEO
Justin Hondris, Director, Finance and Corporate
Development
Arden Partners plc (Nominated Adviser and
broker) +44 20 7614 5900
Paul Shackleton / Daniel Gee-Summons (Corporate
Finance)
Aimee Kerslake (Equity Sales)
Blytheweigh +44 20 7138 3204
Tim Blythe, Megan Ray
Notes to Editors
Pantheon Resources plc is an AIM listed Oil & Gas
exploration and production company with assets in East Texas and on
the North Slope of Alaska, onshore USA. The Group's stated
objective is to create material value for its stakeholders through
oil exploration, appraisal and development activities in high
impact, highly prospective assets, in the USA; a highly established
region for energy production with infrastructure, skilled personnel
and low sovereign risk. All operations are onshore USA, with
drilling costs an order of magnitude below that of offshore
wells.
On the North Slope of Alaska, Pantheon holds working interests
of 90% and 100% in projects covering c.200,000 gross acres &
covered by c.1,000 square miles of 3D seismic. In January 2020 the
Company received an Independent Expert Report certifying a
Contingent Resource of 76.5MMBO (million barrels of oil) on its
Greater Alkaid project.
In East Texas, Pantheon has working interests in several
conventional prospects in Tyler & Polk Counties, in an area of
abundant regional infrastructure, and in proximity to the prized
Double A Wells Field. Pantheon has the ability for this working
interest position to increase to 100% should the minority partner
not be in a position to meet its pro rata share of future drilling
and operating costs.
For further information on Pantheon Resources plc, see the
website at: www.pantheonresources.com
The information contained within this RNS is considered to be
inside information prior to its release. Neither the contents of
the Company's website nor the contents of any website accessible
from hyperlinks on the Company's website (or any other website) is
incorporated into, or forms part of, this announcement.
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END
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March 13, 2020 10:56 ET (14:56 GMT)
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