4th Oct 2007 07:01
Pantheon Resources PLC04 October 2007 Press release 4 October 2007 Pantheon Resources plc Production Update September 2007 Pantheon Resources plc, ('Pantheon' or the 'Company'), the AIM-listed oil andgas exploration company active in the Gulf of Mexico, is pleased to announcethat the Company's combined production, on a working interest basis, averaged875 thousand cubic feet a day ("mcfd") in September 2007. This compares with 97mcfd in August 2007. Average production to Pantheon for the July to Septemberperiod was 359 mcfd on a working interest basis. Pantheon's historic monthly production is provided in Table 1. Table 1: Pantheon Monthly Natural Gas Production on Working Interest Basis Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec2006 2 34 28 352007 42 95 108 80 61 81 106 97 875 Pantheon benefited from the start-up of two new discoveries; Dunn Deep #2 andWilson. These augmented output from Pantheon's four fields in its ProjectWharton venture; Baptist, Caddo, Mohawk and Zebu. Production commenced from the Wilson discovery on September 10, 2007. Initialoutput was 2.5 million standard cubic feet of gas per day gross equating toapproximately 450 barrels of oil equivalent per day ("mmcfd"). Performancecontinues to be monitored closely with the aim to reach 3 million mcfd.Pantheon's working interest in Wilson is 31.77%. Dunn Deep #2 came on-stream on September 17, 2007. Initial gross production fromthe field was 3 million standard cubic feet of gas per day and 60 barrels a dayof condensate, equating to approximately 560 barrels of oil equivalent per day. This occurred less than two weeks from confirmation of a natural gas find.Pantheon has a 7.5% working interest in Dunn Deep. In accordance with the AIM Rules, the information in this report has beenreviewed and signed off by Mr Robert Rosenthal, (BSc Geology, MSc Geology),Technical Director at Pantheon Resources Plc, who has over 30 years relevantexperience within the sector. For further information on Pantheon Resources plc, see the website atwww.pantheonresources.com - end - Further information: Pantheon Resources PLCSue Graham, Chairman +44 20 7379 0118 Oriel Securities LimitedScott Richardson Brown +44 20 7710 7600 Media enquiries: Capital MS&LSteffan Williams / Peter Curtain / Jennifer Martin +44 (0) 20 7307 [email protected] Notes to editors: Pantheon Resources plc Pantheon Resources plc was formed in 2005 to be an independent gas explorationcompany focused on hydrocarbon producing basins onshore or near shore the Gulfof Mexico. On 5 April 2006, Pantheon was admitted to the AIM, havingsuccessfully raised £10m from a mix of quality institutional and privateinvestors. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Pantheon Resources plc