Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) has completed the final repayment of its senior unsecured convertible bonds issued in December 2021.
The Alaska-focused junior oil company said it elected to settle the last quarterly principal payment of US$2.45 million and interest of US$24,500 through the issue of new ordinary shares - a total of 10.52 million new shares will be issued.
Pantheon also provided a brief operational update on the Dubhe-1 well, which continues to flow back and remains in the clean-up period.
"The Dubhe-1 well continues to flowback and remains in the cleanup period. We recognise that shareholders are eager learn more about how the well is progressing ... For now, the well remains in the cleanup window, consistent with our last update," said Max Easley, Pantheon chief executive.
The company told investors it will hold a webinar on 23 December to provide investors with more well information.