Drilling Report

6 Dec 2005 10:35

Pan Andean Resources PLC06 December 2005 Pan Andean is pleased to announce the spudding of the Blackstone Day No 1 wellin Brazoria County, Texas. Drilling is expected to take 7 to 10 days to reachthe target depth of 10,600 feet where it will test the Middle Frio F-5 and F-6sands. The expected reserves are 8 billion cubic feet of gas. Pan Andean holds a 9.375% working interest in this 391 acre lease. Contacts: Jim Finn + 353 1 8332833 Bell Pottinger Corporate & FinancialNick Lambert +44 7811 358 764 This information is provided by RNS The company news service from the London Stock Exchange