27th Oct 2006 07:00
Pantheon Resources PLC27 October 2006 October 27, 2006 PANTHEON RESOURCES PLC Drilling Update On Padre Island •The Kindee ST 212 #1 well on the Plum Deep structure was spudded on 1 August 2006 (Texas, USA). •As at 08.00 Texas Time, 26 October 2006, the well was at a depth of 12,930 feet ("ft") measured depth and drilling ahead following the running of a 7 inch liner. •The planned total depth of the well is 16,400 ft (vertical depth 15,000 ft). • The Plum Deep structure is considered to be a world class explorationprospect. Gross best estimate potential reserves (previously described as "P50potential reserves") have been assessed in a 161-293 billion cubic feet ("bcf")range. • Pantheon is paying 33.33% of the well costs to earn a 25% workinginterest. In accordance with the AIM Rules, the information in this report has beenreviewed and signed off by Mr Robert Rosenthal, (BSc Geology, MScGeology), Technical Director at Pantheon Resources Plc who has over 30 yearsrelevant experience within the sector. Contacts: Pantheon Resources Plc Sue Graham, Chairman +44 20 7379 0118 Oriel Securities Limited Scott Richardson Brown +44 20 7710 7600 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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