Pantheon’s Ahpun and Kodiak projects are situated in a unique geographic location adjoining the underutilized export and transport infrastructure for Alaskan North Slope oil and gas activities. These assets are immediately underneath and adjacent to the TAPS (Trans Alaska Pipeline System) main oil line and the Dalton Highway, enhancing the commercial potential and offering a major competitive advantage over other companies’ operations on the Alaska North Slope.
These discoveries have led the Group into a new phase in its corporate strategy, which will see Pantheon transitioning towards the development of these resources with near term focus on the Ahpun field, which has the advantage of being located immediately adjacent to and underneath both the Trans Alaska Pipeline System (TAPS) and the Dalton Highway and which targets first production by the end of 2028, while continuing to firm up estimates of the Kodiak field’s resource base through further appraisal.
The Company’s focus on nearer term development assets adjoining the existing export infrastructure should allow Pantheon to finance its business more conservatively, to enable future funding to be sourced from a position of greater strength whilst minimising potential dilution until the point of cash flow breakeven. .
