Drilling Report

19 Dec 2005 09:06

Pan Andean Resources PLC19 December 2005 Drilling Update Drilling has now been completed at the Blackstone Day No 1 well. There were nohydrocarbons present. The rig will now move location to drill the Neff -Geissen No 1 well, where spudding is expected within 2 days. The target is450,000 barrels of oil and 1.5 billion cubic feet of gas at a depth of 8,900feet. Drilling is expected to take 10 - 12 days. Zachry Exploration is theoperator and Pan Andean holds a 9.375% working interest. Contact: Jim Finn Tel: +353 1 833 2833 Ian Rice Tel: +44 117 933 0020 This information is provided by RNS The company news service from the London Stock Exchange