Pantheon Resources CEO Max Easley and Chief Development Officer Erich Krumanocker joined Steve Darling from Proactive to provide an update on the company's ongoing farm-out process and development activities in Alaska, highlighting strong industry interest and encouraging results from its Kodiak seismic reprocessing program. Since launching its farm-out initiative in March 2026, Pantheon has attracted significant attention from a broad range of potential partners, including major international energy companies, mid-sized operators, independent exploration firms and financial investors. Management reported a high level of engagement throughout the process, with numerous parties evaluating the opportunity. The company currently has ten active participants reviewing data and conducting evaluations through its virtual data room. Pantheon has already received one formal proposal but elected not to proceed, believing continued negotiations with other interested parties could result in a more favorable outcome for shareholders. Easley said the company's recently enhanced seismic data package has now been made available to all participants in the process and is expected to play an important role in supporting both partnership discussions and future development planning. While advancing negotiations, Pantheon remains focused on preserving financial flexibility. The company reduced administrative expenses by 22% compared to the same period in 2025, helping maintain liquidity as it advances strategic priorities. Management also confirmed that Pantheon is not planning to undertake drilling activities independently during the upcoming winter season, preferring to focus resources on securing a farm-out partner and completing key technical studies. The company also provided an update on the proposed Alaska LNG project and associated gas pipeline, which Pantheon views as a significant long-term catalyst. Although political developments have delayed progress, management continues to believe the project will eventually move forward on a timeline that aligns with Pantheon's broader development objectives. A major technical milestone has been the company's comprehensive seismic reprocessing program covering the Kodiak field. Initiated in February 2026, the first phase has now been completed on schedule and within budget. According to Pantheon, the newly processed data delivers significantly improved imaging of the Kodiak basin-floor fan reservoir, providing enhanced visibility into reservoir architecture, continuity and sand distribution. The updated seismic interpretation also identified additional prospective intervals above and below the primary target zone. Krumanocker said the combination of improved seismic imaging and AVO analysis has substantially increased management's confidence in the scale and continuity of the Kodiak resource. Based on the ongoing evaluation, Pantheon currently expects the asset's recoverable resource estimate could increase by at least 25% above the existing 2C resource estimate, while remaining within the previously established 3C resource range. #proactiveinvestors #pantheonresourcesplc #mining #lse #panr #pthrf #OilAndGas #AlaskaEnergy #KodiakField #EnergyStocks #ResourceDevelopment #EnergyTransition #Exploration #Hydrocarbons #EnergyInvestment #LNG #SeismicData #OilExploration #SmallCapStocks #ProactiveInvestors