Pantheon Resources Eyes Resource Upgrade and Financing Developments

Pantheon Resource CEO Jay Cheatham and Justin Hondris, Head of Finance and Corporate Development, discussed the company's financial and operational status, as well as upcoming projects and collaborations with Proactive's Steve Darling. The company's General and Administrative expenses rose to $4 million, reflecting growth, while reporting a loss of $5.7 million. However, they maintain a robust cash balance of $8.7 million. An anticipated update from an independent expert report by Netherland, Sewell and Associates is expected to significantly upgrade the resource estimates for the Kodiak project, particularly noting improved reservoir properties due to its shallower depth. CEO Jay Cheatham also commented on the neighbouring activity by 88 Energy, noting close proximity and collaboration between the two companies' operations teams, especially regarding the Hickory 1 well. Furthermore, Justin Hondris highlighted ongoing discussions regarding vendor offtake financing, with an update planned for the end of the quarter. Overall, Pantheon Resources is positioned for a busy period ahead, with significant updates on financing and project evaluations forthcoming.