Pantheon Resources (AIM: PANR) Partial Conversion of Unsecured Convertible Bonds

Pantheon Resources plc (“Pantheon” or “the Company”), the AIM-quoted oil and gas company with a 100% working interest in all of its oil projects adjacent and near to transportation and pipeline infrastructure on the Alaska North Slope, announces that it has received a Notice of Conversion in respect of US$2 million of the US$55 million unsecured convertible bond.

As a result of the conversion, Pantheon will issue and allot 1,937,608 new ordinary shares of £0.01 each (“New Ordinary Shares”) in the Company. The New Ordinary Shares will rank pari passu with the existing Ordinary Shares in the Company. Accordingly, the principal remaining under the convertible bond will be reduced by US$2 million to US$53 million.

An application is being made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM (“Admission”) and it is expected that Admission will become effective, and trading will commence on or before 8.00 a.m. on 24th February 2022. Following Admission, the total number of Ordinary Shares in issue, and therefore the total number of voting rights, will be 748,939,811.

Further information:

Pantheon Resources plc

+44 20 7484 5361

Jay Cheatham, CEO

Justin Hondris, Director, Finance and Corporate Development

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