Pantheon Resources closes $35m bond offering

(Sharecast News) - Pantheon Resources announced on Tuesday that it has successfully closed a $35m senior convertible bond offering, securing funding to support its oil and gas exploration activities on Alaska's North Slope. The AIM-listed company confirmed it had finalised and issued the bonds, which are due in March 2028, to Sun Hung Kai and its associated entities.

It said the proceeds would back its ongoing operations across its 258,000-acre portfolio, which holds 100% working interests and is located near key transportation and pipeline infrastructure.

At 1058 GMT, shares in Pantheon Resources were up 1.85% at 66p.

Reporting by Josh White for Sharecast.com.