Pantheon Resources plc (LSE:PANR) has confirmed that Jay Cheatham, Non-Executive Director and former Chief Executive, has retired from the Board as part of the company’s long-term succession planning.

Cheatham played a central role in Pantheon’s development over the past 17 years, helping to shape its strategy and advance its asset base. His departure marks a period of transition as the company continues to focus on progressing its core projects.

Pantheon remains focused on developing the Ahpun and Kodiak fields on Alaska’s North Slope, with management targeting a move towards financial self-sufficiency. The group believes its 100% ownership of the assets and proximity to existing infrastructure provide competitive advantages that could support efficient development.

While the company continues to face operational and financial challenges, including negative profitability and cash flow, recent corporate developments and strategic initiatives offer potential upside. These factors contribute to a cautiously improved outlook despite ongoing valuation concerns.

More about Pantheon Resources

Pantheon Resources plc is an AIM-listed oil and gas company focused on the development of its wholly owned Ahpun and Kodiak fields, located on State of Alaska land on the onshore North Slope of the United States. The company’s strategy is to unlock long-term value by advancing these assets efficiently, with a stated aim of achieving market recognition of around US$5 per barrel of recoverable resources by the end of 2028.

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