Climate Change Data

PANTHEON RESOURCES PLC

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Climate Change
  • Community Relations
  • Governance

Environmental Achievements

  • Plans to eliminate Scope 1 and 2 greenhouse gas emissions by 2030. Intends for initial development of Ahpun and Kodiak to be all-electric, with CCS applied to power generation exhausts. Will ensure all electricity purchases are from zero GHG emission sources.
  • Maximizing the number of wells drilled from each pad and minimizing the number of pads and connecting roads to minimize the physical footprint of development activities.

Social Achievements

  • Working with State and local communities on the North Slope of Alaska to minimize development footprint while maximizing economic benefits.
  • Increased interaction with key stakeholders through webinars, presentations, and direct engagement.

Governance Achievements

  • Appointed two new independent non-executive directors, Allegra Hosford Scheirer and Linda Havard.
  • Strengthened board committees (Audit, Remuneration, Nominations, Conflicts, Anti-Corruption & Bribery).
  • Preparing for a possible US stock market listing and improving governance to Sarbanes-Oxley standards.

Climate Goals & Targets

Long-term Goals:
  • Demonstrate sustainable market recognition of $5-$10 per barrel of 1C/1P recoverable resources by end of 2028.
Medium-term Goals:
  • Bring Ahpun production to 20,000 barrels per day of marketable liquids.
  • Apply cash flows to support FID on Kodiak field by end of 2028.
Short-term Goals:
  • Achieve FID on Ahpun field by end of 2025.

Environmental Challenges

  • Initial disappointing results from the Alkaid-2 well test.
  • Higher-than-anticipated costs and operational issues.
  • Weaker share price and lessened investor confidence.
  • Securing sufficient funding for project development.
Mitigation Strategies
  • Successful re-entry of Alkaid-2 with a revised frac design, demonstrating improved commercial potential.
  • Strategy refresh focusing on early cash flows and minimizing shareholder dilution.
  • $22 million funding secured in May 2023.
  • Strengthening the team with the appointment of Tony Beilman as Senior VP Engineering.
  • Exploring vendor financing, offtaker financing, and reserve-based lending to minimize equity dilution.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Utilizing local service providers for rig hire, road construction, etc.

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed