Pantheon Resources plc Regulatory News (PANR)

29 Apr 2008 07:00

Pantheon Resources PLC29 April 2008 Press release Date 29 April 2008 Pantheon Resources plc - Spudding of Bullseye Prospect Pantheon Resources, the AIM-listed oil and gas exploration company active in theGulf of Mexico, is pleased to announce that the Jumonville #1 well in IbervilleParish, Louisiana (Bullseye) spudded on 28 April 2008. Jumonville #1 is a 14,000 foot test that is expected to take 60 days to drill tothe target zone. Pantheon has a 15% working interest and 11.25% net revenueinterest in the play. Golden Gate Petroleum is the operator of the drillingoperations. The Bullseye target has a P-50 best fit reserve of 12.5 millionbarrels of oil and 33 BCF gas. In accordance with the AIM Rules, the information in this report has been reviewed and signed off by Jay Cheatham, who has over 30 years relevant experience within the sector. For further information on Pantheon Resources plc, see the website atwww.pantheonresources.com - end - Further information: Pantheon Resources PLCJay Cheatham, CEO +44 20 7484 5359 Oriel Securities LimitedScott Richardson Brown +44 20 7710 7600 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 Exchange