Pantheon Resources AIM:PANR
- Incorporated
- United Kingdom
- Chief executive
- Max Easley
- Reports in
- USD
- Companies House
- 05385506
Oil exploration and appraisal company holding large acreage positions on Alaska's North Slope adjacent to the Dalton Highway, targeting the Ahpun and Kodiak projects. Pre-revenue with a large retail shareholder following; value hinges on appraisal drilling, funding and commercialisation agreements.
Read straight from the annual reports
11.0c at close on 5 Oct 2026 · 11 reported years, 2015–2025
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USD millions, negatives in brackets. Per-share lines in cents, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
10 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
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Future commercial development of Kodiak and Ahpun fields (currently pre-revenue)
FID on Ahpun targeted 2H 2027 and on Kodiak by 2029; no material revenue forecast until 2028 at the earliest
page 16Gas monetization strategy / Alaska LNG in-state gas sales
Gas Sales Precedent Agreement with 8 Star Alaska at a price not to exceed $1/mmBtu (adjusted for inflation); intent to replace with a full termed take-or-pay contract
page 7Higher headcount and IT costs, US listing preparation and Kinder Morgan legal fees
Administrative expenses increased $2.6m (29.7%) to $11.4m
page 12New Share Award Scheme (ESOP) and LTIP
Share-based payments expense of $1.2 million in FY2025 (2024: $Nil)
page 12$13.1m credit: Fair value gain on convertible bond embedded derivative liabilities
page 492025 has been a year of transition for Pantheon... we continue to believe we are well positioned to develop our high impact U.S. oil projects on the Alaska North Slope.
page 67 July 2025: raised $16.25m via conditional placing/subscription at 21.15p per share
page 92No dividend recommended or paid for FY2025 (pre-revenue development-stage company)
page 30Financial statements prepared on a going concern basis; Grant Thornton Ireland issued an unmodified audit opinion for FY2025 but included a 'Material Uncertainty Related to Going Concern' paragraph given the expected working capital deficiency from 2H CY2026. Key audit matters: valuation of intangible exploration & evaluation assets ($337.4m) and valuation of loans due from subsidiary companies to Pantheon U.K. Entity ($387.7m). Prior year (FY2024) was audited by PKF Littlejohn LLP (unmodified). Audit materiality set at $5,475,000.
page 41- Pre-development company with no material revenue forecast until 2028 at the earliest; future performance depends on successful well drilling/completionp.16
- Requires substantial additional capital which may not be available on acceptable terms, or at allp.16
- No guarantee that estimated contingent resources will be recoveredp.16
- May be unable to meet lease obligations (annual rentals, royalties of 12.5%-16.7%) leading to automatic terminationp.17
Read from C000970-AR-2025-ch.
10 annual reports read, FY2016 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (10)
FY2026Next report expected 24 Dec 2026