Pantheon Resource Executive Chairman David Hobbs joined Steve Darling from Proactive to discuss the company's new strategy. The strategy aims to refocus the company and take control of its own destiny. While there are potential partners interested in the company's assets, they are unwilling to pay a fair price due to Pantheon's financial weakness.
Hobbs said to increase the company's value, Pantheon plans to move towards production but only after securing access to the pipeline. The strategy involves obtaining regulatory permits and developing the Ahpun and Kodiak fields, which contain significant oil resources.
Hobbs suggests this process will take approximately two years. Pantheon also aims to become cashflow positive and reduce the need for further equity funding. The company plans to create a reserve bank lending facility and seek other sources of funding to minimize investor dilution. Despite the challenges, Hobbs believes the company has the right team to execute the strategy and deliver results.
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