PANTHEON RESOURCES PLC

• ⚠

  Material uncertainty over going concern

  Should the Company not be able to achieve the matters set out above, there is a significant uncertainty related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern, and, therefore, that it may be unable to realize its assets and discharge its liabilities in the normal course of business.

• ◆

  Audit opinion: Qualified

  Latest auditor's report carried a non-clean opinion.

• ◆

  6 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

Grant Thornton Ireland

Audit opinion

Qualified

Going concern

Material uncertainty disclosed

“Should the Company not be able to achieve the matters set out above, there is a significant uncertainty related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern, and, therefore, that it may be unable to realize its assets and discharge its liabilities in the normal course of business.”

Group structure

1. PANTHEON RESOURCES PLC · parent
   1. Hadrian Oil & Gas LLC 100% · United States · Holding Company
   2. Agrippa LLC 100% · United States · Holding Company
   3. Pantheon Oil & Gas LP · United States · Oil & Gas exploration
   4. Great Bear Petroleum Ventures I, LLC 100% · United States · Lease Holding Company
   5. Great Bear Petroleum Ventures II, LLC 100% · United States · Lease Holding Company
   6. Great Bear Pantheon, LLC 100% · United States · Operating Company
   7. Pantheon East Texas, LLC 100% · United States · Holding Company
   8. Pantheon Operating Company, LLC 100% · United States · Operating Company
   9. Borealis Petroleum LLC 100% · United States · Lease Holding Company

Significant events

• “On 15 December 2025, the Company announced that it has elected to pay (i) the final quarterly principal repayment of US$2.45 million and (ii) the quarterly interest payment of US$24,500 (collectively, the "Quarterly Repayment") in respect of its senior unsecured convertible bonds issued in December 2021 to a fund advised by Hei”
• “On 11 September 2025, the Company raised $30m of new capital by way of a conditional placing and subscriptions of new Ordinary Shares at a price of 25 pence per share.”
• “On 7 July 2025, the Company raised $16.25m by way of a conditional placing and subscriptions of new Ordinary Shares at a price of 21.15 pence per share.”
• “On 22 December 2025, the Company announced that it had decided that the most financially prudent course of action was to carry out a pressure build-up test on the Dubhe-1 well with a view of returning the well to production in due course.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

20

last 12 months

Capital events

6

last 24 months

Officers appointed

3

last 12 months

Officers resigned

6

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -100%

  £9,928 → £0

• Cash

  —

  Not reported

• Net assets

  —

  Not reported

• Employees

  —

  Not reported

• Operating profit

  -43.6%

  -£6,499,265 → -£9,331,716

• Profit before tax

  +68.4%

  -£9,909,438 → -£3,135,174

• Wages

  +33.1%

  £2,390,239 → £3,182,095

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers