Operational Update

RNS Number : 6238J

Pantheon Resources PLC

13 September 2016

 

13 September 2016

Pantheon Resources plc

Spudding of Vision Operating Blackstone Minerals #3 well ("VOBM#3")

Pantheon Resources plc ("Pantheon" or "the Company"), the AIM-quoted oil and gas exploration company with a working interest (of 50%-58%) in several conventional projects in Tyler and Polk Counties, onshore East Texas, is pleased to announce the spudding of the VOBM#3 well:

Spudding of VOBM#3 well, Polk County, onshore East Texas

Pantheon is pleased to announce that the Nabors F12 rig has spudded the VOBM#3 well, in Polk County, East Texas. The VOBM#3 well is the third well to be drilled by the operator in the company's Polk County acreage, and will offset the VOBM#1 and VOBM#2H wells, both of which encountered significant hydrocarbons in the objective horizon. The well will be drilled vertically to target the Eagleford sandstone at a measured depth of approximately 14,250 feet.

Drilling operations are expected to take approximately 45-50 days on a trouble free basis, and results from the well will be announced when drilling, and if appropriate, testing operations are complete.

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Further information:

Pantheon Resources plc	[phone]
Jay Cheatham, CEO
Justin Hondris, Director, Finance and Corporate Development
Stifel Nicolaus Europe Limited (Nominated Adviser and broker)	[phone]
Callum Stewart
Ashton Clanfield
Nicholas Rhodes
FTI Consulting	[phone]
Ed Westropp
Shannon Brushe
James Styles

For further information on Pantheon Resources plc, see the website at: www.pantheonresources.com 

The information contained within this RNS is considered to be inside information prior to its release.

In accordance with the AIM Rules - Note for Mining and Oil & Gas Companies - June 2009, the information contained in this announcement has been reviewed and signed off by Jay Cheatham, a qualified Chemical & Petroleum Engineer, who has over 40 years' relevant experience within the sector.

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.

 

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