Pantheon Resources PLC (AIM:PANR) provided an investor update outlining progress and next steps across its Alaska portfolio, highlighting operational results, capital discipline, and long term growth strategy. Management confirmed a temporary pause at the Dubhe-1 well in the Ahpun field to conduct a planned pressure build up survey after achieving around 50 percent load recovery, citing winter operating costs exceeding $150,000 per day and the need to protect shareholder value. The company reiterated that the Ahpun resource estimate remains unchanged and that appraisal work has confirmed a thick, laterally continuous reservoir with strong productivity, gas shows, and initial oil production, supporting confidence in future oil breakthrough. Pantheon remains on track toward a potential final investment decision for Ahpun around 2027, with development targeting lower capital intensity and proximity to infrastructure. The presentation also emphasized Kodiak as the company’s flagship asset, with independently assessed contingent resources of approximately 1.2 billion barrels and additional upside potential. Management outlined plans to mature Kodiak through seismic reprocessing, core analysis, and a potential appraisal well as early as next winter, while actively pursuing farm out partners to limit dilution and fund large scale development. The company reaffirmed its alignment with the Alaska LNG project and gas sales precedent agreement timeline, strengthened leadership and technical capability, and commitment to disciplined capital allocation, positioning Pantheon for long term value creation through appraisal, partnerships, and infrastructure led development.