Pantheon Resources PLC Appointment of Independent Non-Executive Director (5420R)

TIDMPANR

RNS Number : 5420R

Pantheon Resources PLC

12 December 2016

12 December, 2016

Pantheon Resources plc

Appointment of Senior Independent Non-Executive Director

Pantheon Resources plc ("Pantheon" or "the Company"), the AIM-quoted oil and gas exploration company with a working interest (of 50%-58%) in several conventional projects in Tyler and Polk Counties, onshore East Texas, is pleased to announce the appointment to the Board of Phillip Anthony Gobe as Senior Independent Non-Executive Director with immediate effect.

Mr. Gobe, 64, is based in Texas, USA and has over 40 years' experience in the oil and gas industry, onshore and offshore USA. He is currently a Non-Executive Director of the S&P 500 company, Pioneer Natural Resources which is a Texas-based independent exploration and production company focused on onshore, unconventional, oil and gas resource and production growth in the Permian basin and Eagle Ford shale. Mr. Gobe is also the Lead Director and Chairman of the nomination and compensation committee of Scientific Drilling International Inc, the fifth largest provider of directional drilling and measurement equipment and operational services, with 2015 annual revenues exceeding US$360m.

Before joining Pioneer, Mr. Gobe was Chief Operating Officer and President at Energy Partners, Ltd. where he was responsible for exploration and production activities for the company, as well as land and business development activities. He retired from his full-time role at the company in 2007 and from the board in 2008.

Preceding this, Mr. Gobe served as COO of Nuevo Energy Company until its acquisition at a significant premium by Plains Exploration & Production Company in May 2004. Mr Gobe also acted as senior VP of Production for Houston based Vastar Resources Inc, an US$8.2 billion independent E&P company where he led and managed an organization of 700 employees responsible for all engineering and operational activities.

Mr Gobe spent the majority of his early career with Atlantic Richfield Company (ARCO) in various roles and capacities in drilling, operations, human resources, health and safety and senior management. This included a role as operations manager of Prudhoe Bay in Alaska, ARCO's largest and most valuable asset. Mr. Gobe completed his undergraduate studies at the University of Texas and earned an MBA at the University of Louisiana in Lafayette.

Mr. Gobe will be attending Pantheon's AGM at 10.00am on Friday 16 December, 2016 at the offices of FTI Consulting, 200 Aldersgate, London, EC1A 4HD.

John Walmsley, Non-Executive Chairman, stated,

"I am delighted to announce Phillip's announcement to the board of Pantheon at such an important time in the development of our business. He brings a wealth of relevant US industry operational experience, not only in terms of his accomplished technical and drilling/engineering knowledge, but also in the key areas of leadership, human resource and corporate governance. It is a testament to the quality of Pantheon's assets that we were able to attract an individual of this calibre, reputation and track record to join us. As we look forward to planned first production in spring 2017 and continuing our journey towards unlocking the value across our significant acreage position, being able to draw on such operational experience and expertise will be invaluable to us".

Commenting on his appointment, Mr Gobe said:

"It is clear to me that Pantheon has an exciting future ahead of it and I am looking forward to helping the company move forward into its new role as a production company. I have worked with Jay Cheatham in the past and I have every confidence that he and his team will make a big success of the next growth phase of the business".

-Ends-

Current Directorships

   --     Non-Executive Director, Pioneer Natural Resources 
   --     Non-Executive Director, Scientific International Drilling Inc. 

Previous directorships in the last five years

   --     Non-Executive Director, Pioneer Southwest Energy. 

In relation to Phillip Gobe's appointment to the board, there is no further information required to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules for Companies.

Further information:

 
                                              [phone] 
 Pantheon Resources plc                        5361 
 Jay Cheatham, CEO 
 Justin Hondris, Director, Finance 
  and Corporate Development 
 
 Stifel Nicolaus Europe Limited (Nominated    [phone] 
  Adviser and broker)                          7600 
 Callum Stewart 
 Ashton Clanfield 
 Nicholas Rhodes 
 
                                              [phone] 
 FTI Consulting                                1000 
 Ed Westropp 
 Shannon Brushe 
 James Styles 
 

For further information on Pantheon Resources plc, see the website at: www.pantheonresources.com

The information contained within this RNS is considered to be inside information prior to its release.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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December 12, 2016 02:00 ET (07:00 GMT)