Pantheon Resources PLC has kicked off a new phase of subsurface work at its Kodiak project on Alaska’s North Slope, formally commencing seismic reprocessing over the north-west area updip from the Theta West-1 discovery as it lines up the next appraisal steps.
The AIM-quoted group said the reprocessing will focus on the section of Kodiak updip from Theta West-1, which it noted was previously reported by Wood Mackenzie as the fourth-largest discovery well globally in 2022 and the largest onshore discovery well that year.
Pantheon added it is also carrying out preliminary activities for a potential Theta West-2 appraisal well, with timing and execution subject to funding, permitting and operational considerations.
Alongside the operational update, Pantheon set its annual general meeting for Thursday, 12 March, to be held virtually with full voting functionality for registered shareholders
In corporate changes, executive chair David Hobbs will transition to non-executive chair following the AGM, while Allegra Hosford Scheirer stepped down from the board effective 13 February.
"As I transition to Non‑Executive Chair, I do so with full confidence in our strong executive team and the exciting pathway ahead," Hobbs said in Monday's statement.