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25 Jul 2008 11:00
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Press release |
25th July 2008 |
Bullseye Prospect, Iberville Parish,Β Louisiana
Pantheon Resources, the AIM-quoted oil and gas exploration company active in theΒ Gulf of Mexico, issues the following operations update.
Pantheon has been advised by the operatorΒ Golden GateΒ Petroleum LimitedΒ that the Key Drilling Rig #Β 88 has been delayedΒ arriving on locationΒ until 1Β August, when drilling will resume. It is estimated to takeΒ approximatelyΒ 3 days to drill to the primaryΒ 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.Β
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Β In accordance with the AIM Rules, the information in this announcement has been reviewed and approved by Jay Cheatham, who has over 30 yearsβ relevant experience within the sector.Β |
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For further information on Pantheon Resources plc, see the website atΒ www.pantheonresources.com
Further information:
Pantheon Resources PLC
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Jay Cheatham, CEO |
+44 20 7484 5359 |
Oriel Securities Limited (Nominated Adviser)
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Michael Shaw |
+44 20 7710 7600 |
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 theΒ Gulf of Mexico. On 5 April 2006, Pantheon was admitted to AIM, having successfully raised Β£10 million from a mix of quality institutional and private investors.
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