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Operations Update

25 Jul 2008 11:00

RNS Number : 8881Z
Pantheon Resources PLC
25 July 2008
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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 

Β 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.Β 

Β 

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

Further information:

Pantheon Resources PLC

Jay Cheatham, CEO

+44 20 7484 5359

Oriel Securities Limited (Nominated Adviser)

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.

This information is provided by RNS
The company news service from the London Stock Exchange
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