Pantheon Resources (PANR) AGM 2026 summary

Opening remarks and agenda

• New chairman Michael Spencer welcomed attendees and emphasized his recent appointment and intent to add value, with CEO Max Easley also present for Q&A.

Board and executive committee updates

• Michael Spencer highlighted his significant personal shareholding and intent to improve investor relations and board alignment with shareholders.

• David Wilkins, with extensive Alaska oil experience, joined the board to guide the transition from exploration to development.

• The board is seeking to add further expertise to support public company operations.

Strategic initiatives and plans

• The primary focus is securing a farm-in partner, with several major energy companies currently evaluating assets in the data room.

• The company is shifting from exploration to development, leveraging a portfolio approach with Kodiak as the main field and satellites like Ahpun, Talitha, and Alkaid.

• No immediate plans to raise funds; cost reductions and cash conservation are prioritized, including suspending the US IPO process.

• Appraisal and development planning for Talitha West 2 is underway, with winter drilling logistics being considered.

• The Alaska LNG project is progressing, with a Gas Sales Precedent Agreement in place, contingent on both field and infrastructure project sanctioning.