8th Feb 2007 09:39
Pantheon Resources PLC08 February 2007 Spudding of Wilson Prospect • The Board of Pantheon Resources plc ("Pantheon") announces that it has been informed by the operator, Golden Gate Petroleum Ltd, that the Kindee ST 949 #1 well spudded on February 7 2007. • Wilson is the second well of a multi-well programme and will be targeting the upper Frio system. Gross best estimate potential reserves (previously described as "P50 potential reserves") have been assessed as c.9 billion cubic feet. • The well should reach total depth by the end of March on a trouble free basis. The working interests in the Wilson Prospect are as follows: Working Interest (%)Golden Gate Petroleum Ltd 47.375Pantheon Resources Plc* 27.625Cinco Resources Inc 15.000Medina* 10.000* Subject to final documentation 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. Contacts:Pantheon Resources PlcJustin Hondris +44 20 7379 0118 Oriel Securities LimitedScott 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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