Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) said it expects to update the market on its farm-out process before the end of the summer, as management continues talks with a range of potential counterparties over its Alaska assets.
The oil and gas group said its chairman and chief executive have been focused almost exclusively on farm-out discussions since the AGM and board changes in March. Pantheon said multiple organisations of varying sizes are in the data room, with most still actively engaged, while other companies continue to express interest.
The company cautioned that the talks are complex and that a quick outcome should not be expected, though it said progress is being made and the board is encouraged by the level of engagement.
Separately, Pantheon has changed its accounting reference date to 31 December from 30 June with immediate effect. It will now report unaudited interim results for the six months to 30 June 2026 by 30 September 2026, followed by audited results for the 18-month period to 31 December 2026 by 30 June 2027.