Plum Deep Drilling Update

Pantheon Resources PLC
09 August 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 of 8.00 am Texas time on 8 August 2006, the well was rigging up to
    drill ahead at a depth of 2140 feet.

  • The Plum Deep structure is considered to be a world class exploration
    prospect. Gross best estimate potential reserves (previously described as
    'P50 potential reserves') have been assessed in a 161-293 billion cubic feet
    ('bcf') range.

In accordance with the AIM Rules, the information in this report has been
reviewed and signed off by Mr Robert Rosenthal, (BSc Geology, MSc Geology),
Technical Director at Pantheon Resources Plc,  who has over 30 years relevant
experience within the sector.


Contacts:

Pantheon Resources Plc
Sue Graham, Chairman                         [phone]
Oriel Securities Limited
Scott Richardson Brown                       [phone]




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