Pantheon Resources plc Regulatory News (PANR)

2 Nov 2007 14:50

Pantheon Resources PLC02 November 2007 Issuance of Options to new Director 02/11/2007 Pantheon Resources plc ("Pantheon"), the UK-based oil and gas explorationcompany active in the Gulf of Mexico, announces the granting of options to subscribe for 300,000 Ordinary Shares in Pantheon to its recently appointedDirector, Mr John Walmsley. The price payable for these shares is 100p per share for the first 100,000shares, 150 pence per share for the second 100,000 shares, and 200p per sharefor the remaining 100,000 shares. This compares with a closing share price of65.5 pence as at 1 November 2007. These options may be exercised at anytime upuntil the close of business on 3 August, 2012, and upon exercise will rank parripassu with the existing issued shares in the company. This issue of options isin line with previous awards and reflects the level of commitment expected atthis stage of the company's stage of development. Mr Walmsley has 30 years' experience in the energy sector as adviser orprincipal including periods as Chief Executive of Hardy Oil and Gas plc andManaging Director, Finance and Business Development, of Enterprise Oil plc.Pantheon believes the incentive based remuneration package aligns Mr Warmsley'sinterests with that of shareholders. Sue Graham, Chairman of Pantheon Resources, said at the time of appointmentthat: "Securing John as a board member will bring enormous benefits to theCompany, in international experience, strategic vision and contacts. Few canmatch John's level of success and achievement in larger companies in thisindustry and we look forward to making the most of his valuable contribution." Further Information: Pantheon Resources PlcSue Graham, Chairman +44 20 7379 0118Oriel Securities LimitedScott Richardson Brown +44 20 7710 7600 Media EnquiriesCapital MS&LSteffan Williams / Peter Curtain / Jennifer MartinJames.Madsen@capitalmsl.com This information is provided by RNS The company news service from the London Stock Exchange