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7 Apr 2009 08:00
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Press release |
07Β AprilΒ 2009 |
Drilling Update
Pantheon ResourcesΒ plcΒ ("Pantheon" or the "Company"), the AIM-quotedΒ oil and gas explorationΒ company active in theΒ onshore region of theΒ Gulf of Mexico, issuesΒ the following drilling update.
Jumonville #2 Iberville Parish,Β Louisiana
As PantheonΒ announced yesterday,Β the Jumonville #2 well had reached total depth of 14,100 feet and anΒ electric logging operation was due to commence. The operator GGP has informedΒ the CompanyΒ that electric logs run in the past 24 hours have providedΒ some indications of hydrocarbons in the deep Cib Haz Formation despite the fact that no hydrocarbon showsΒ were encountered on the mudlogs whilst the well was drilling. Electric logs and sidewall core data acquiredΒ over the past 24 hours are currently being analysed to determine the significance of the data and devise aΒ forward plan.
Pantheon has a 15% working interest prior to back in rightsΒ and anΒ 11.25% interest after back in.Β
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In accordance with the AIM Rules, the information in this report has been reviewed and signed off by Jay Cheatham, who has over 30Β years' relevantΒ experience within the sector.Β |
For further information on Pantheon Resources plc, see the website atΒ www.pantheonresources.com
Further information:
Pantheon ResourcesΒ plc
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Jay Cheatham, CEO |
+44Β 20 7484Β 5359 |
Oriel Securities Limited (Nominated Adviser)
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Michael Shaw |
+44 20 7710 7600 |
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