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An update from Pantheon Resources ( (GB:PANR) ) is now available.
Pantheon Resources plc announced an agreement to issue up to US$35 million in senior convertible bonds to Sun Hung Kai & Co. Limited, a Hong Kong-based financial institution. The proceeds will be used to repay existing bonds, fund flow testing for the Megrez-1 well, and for general corporate purposes. This move is expected to provide Pantheon with the necessary liquidity to progress its strategic goals and enhance its financial stability, particularly by removing the need for quarterly share issues to satisfy existing bond repayments.
More about Pantheon Resources
Pantheon Resources plc is an AIM-quoted oil and gas exploration company with a 100% working interest in projects located on the Alaska North Slope. The company focuses on utilizing existing transportation and pipeline infrastructure to exploit hydrocarbon resources, aiming to advance its Ahpun and Kodiak projects towards final investment decisions (FID) and eventual development.
YTD Price Performance: 111.31%
Average Trading Volume: 6,849,372
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £700.7M
For an in-depth examination of PANR stock, go to TipRanks’ Stock Analysis page.
