USA, North Slope Alaska Oil Appraisal and Development

Drilling by Pantheon/Great Bear Petroleum and adjoining operators has highlighted the significant prospectivity of Pantheon’s acreage, offering billions of barrels of oil and other marketable liquid potential in stacked conventional targets across multiple geological plays.

Netherland, Sewell & Associates completed an independent review of the Kodiak field and provided best estimates of the oil, condensate and NGL contingent resources expected to be recovered, totalling 1.2 billion barrels. This validation in the form of an Independent Expert Report (IER) from one of the world’s most respected petroleum property analysis companies has instilled further confidence in management’s modelling of the resources.

Pantheon’s near-term focus is to prove the resource, reserve and commercial potential of its Ahpun project, where the Company believes a significant commercial resource has been discovered and successfully tested at Alkaid-2. In Q2 2024, Pantheon received an Independent Expert Report from Lee Keeling & Associates (LKA) on the Ahpun Alkaid horizon, estimating 79 million barrels of recoverable reserves. Later in Q2 2024, a report was received from Cawley Gillespie & Associates (CGA) on the Ahpun western topsets, estimating 282 million barrels of contingent recoverable resources of marketable liquids.