Operations Update

RNS Number : 8881Z

Pantheon Resources PLC

25 July 2008

 



Press release

25th July 2008

Bullseye Prospect, Iberville Parish, Louisiana

Pantheon Resources, the AIM-quoted oil and gas exploration company active in the Gulf of Mexico, issues the following operations update.

Pantheon has been advised by the operator Golden Gate Petroleum Limited that the Key Drilling Rig # 88 has been delayed arriving on location until 1 August, when drilling will resume. It is estimated to take approximately 3 days to drill to the primary Miogyp objective.

Pantheon is participating with a 15% working interest prior to back-in rights. Should back-in occur, Pantheon will participate with an 11.25% working interest. 

In accordance with the AIM Rules, the information in this announcement has been reviewed and approved by Jay Cheatham, who has over 30 years’ relevant experience within the sector.

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

Further information:

Pantheon Resources PLC

Jay Cheatham, CEO

[phone]

Oriel Securities Limited (Nominated Adviser)

Michael Shaw

[phone]

Notes to editors:

Pantheon Resources plc

Pantheon Resources plc was formed in 2005 to be an independent gas exploration company focused on hydrocarbon producing basins onshore or near shore the Gulf of Mexico. On 5 April 2006, Pantheon was admitted to AIM, having successfully raised £10 million from a mix of quality institutional and private investors.

 

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