We have reassessed the fair value of Pantheon Resources to reflect the evolving macro backdrop for the company. The main change is that the equity market is all but closed for capital raises across all sectors and geographies, creating some of the most challenging conditions in living memory for non-producing oil & gas companies. As a result, we are taking a more conservative approach to the valuation of Pantheon Resources by including 10%, rather than 20% of the success case values of Pantheon' ....
