Pantheon's strategy is to focus initially on hydrocarbon exploration and production onshore or near shore in the GoM. Such areas offer lower drilling and development costs than offshore while lead times to commercial production are shorter. Being a small exploration and production company with limited capital, the board of Pantheon believes these factors should enhance returns to investors.

Since its IPO Pantheon has expanded its asset portfolio though a series of strategic farm-ins. This has created a diverse portfolio with potential for major growth in reserves and production. The risk profile comprises a mix of moderate and low risk ventures/prospects. The Board believes that drilling success should provide Pantheon with a strong foundation upon which to build a focused exploration and production company.

Pantheon achieved early success at Wilson and Dunn Deep on Padre Island, Texas and at Project Wharton between Houston and Corpus Christi, Texas.  The Company’s entry into ventures located in Iberville Parish, Louisiana and Tyler County, Texas illustrates a commitment to participate in high impact moderate risk opportunities.  The discovery in Louisiana at Bullseye produces positive cash flow from two wells with more potential on the play. The Tyler County, Texas venture introduced into Pantheon’s asset portfolio a lower risk extension/development play.  The play has been technically proven by the first well.

The Board of Pantheon believes that any drilling success should have a positive impact on the Company's valuation as the current prospects are large in relation to Pantheon's size.  Pantheon has no intention of being an operator at this stage of its corporate development. It intends to keep its corporate overhead costs low. This should ensure both that capital is injected directly into drilling and that leverage to shareholders is maximised in the event of success. The efficient allocation of limited capital is of paramount concern to the board of Pantheon.