9th March, 2023

Pantheon Resources plc

Appointment of Independent Non-Executive Director

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 spanning c. 153,000 acres adjacent and near to transportation and pipeline infrastructure on the Alaska North Slope ("ANS"), is pleased to announce the appointment of David Hobbs as an Independent Non-Executive Director, effective 21 March 2023. 

David graduated as a Petroleum Engineer from Imperial College in 1984, initially working at British Gas as a drilling engineer before moving into commercial and business development roles at Monument Oil & Gas and Hardy Oil and Gas, two UK listed international independent E&P companies. He joined Cambridge Energy Research Associates (CERA), now part of S&P Global, ending up as Chief Energy Strategist, advising Government officials, senior executives and Boards of Directors across the energy sector. He also spent six years as part of the leadership team establishing the King Abdullah Petroleum Studies and Research Center (KAPSARC) in Riyadh, Saudi Arabia. David is an adjunct professor at the University of Calgary.

Phillip Gobe, Chairman, of Pantheon Resources, said: "We are delighted to welcome David to the Board as an Independent Non-Executive Director. David has a long-established career in energy strategy, with a demonstrable record of driving success in multiple jurisdictions. He brings a wealth of experience to the team, and I look forward to having him work alongside us as we continue working towards demonstrating the commerciality of our portfolio of an estimated 17.8 billion barrels of oil in place, as recently modelled by SLB Limited (formally known as Schlumberger)."

Commenting on his appointment, David Hobbs said: "Having followed the Pantheon story for a number of years, I am excited to support the Company in refining its strategy to extract the maximum value from its established resource base for shareholders' benefit."

Further information in relation to the Director appointment

David Alan Hobbs (aged 59) has confirmed that, other than the information disclosed below, there are no matters to be disclosed under Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules.

As at the date of appointment, David Hobbs has a total beneficial interest in 1,576,002 ordinary shares of Pantheon, equating to approximately 0.2% of the issued share capital.

Previous Directorships

SV-Pleione Limited

Polar Energy LLC

-ENDS-

Further information, please contact:

Notes to Editors

Pantheon Resources plc is an AIM listed Oil & Gas company focused on several large projects located on the North Slope of Alaska ("ANS"), onshore USA where it has a 100% working interest in 153,000 highly prospective acres with potential for multi billion barrels of oil recoverable. A major differentiator to other ANS projects is its close proximity to transport and pipeline infrastructure which offers a significant competitive advantage to Pantheon, allowing for materially lower capital costs and much quicker development times. The Group's stated objective is to create material value for its stakeholders through oil exploration, appraisal and development activities in high impact, highly prospective conventional assets, in the USA; a highly established region for energy production with infrastructure, skilled personnel and low sovereign risk. All operations are onshore USA, with drilling costs materially below that of offshore wells.