Drilling update

Pantheon Resources PLC
09 October 2006



      October 9, 2006

PANTHEON RESOURCES PLC

Natural Gas Encountered at Mohawk Prospect

The Board of Pantheon Resources plc ('Pantheon') is pleased to announce that the
Mohawk #1 exploration well has encountered natural gas in its primary objective.
The Mohawk #1 well was drilled to test an extensional prospect in the
Chesterville Field complex. It was targeting a primary 3-D seismic amplitude
anomaly indicated in a Frio sand at 4,100 feet ('ft').

Electric logs analyses and formation tests have now confirmed the presence of
some 23 ft of net natural gas pay in the primary and secondary objectives. As a
result of the positive log confirmation, the decision has been made to complete
the well for production testing. The results of the production testing should be
communicated in the coming weeks.

Mohawk #1 was the third well to be drilled on Project Wharton, a farm-in
concluded in June 2006. Pantheon is paying 25% of the drilling costs to earn an
18.75% working interest in Mohawk.

A second Mohawk prospect is located on the leasehold. The Mohawk #2 will test a
slightly smaller amplitude anomaly (30 acres) at 4,075 ft that is very similar
to, but fault separated from the Mohawk #1 anomaly. As this is not subject to
the farm-in terms, it would have a higher value to Pantheon, if successful.

In accordance with the AIM Rules, the information in this report has been
reviewed and signed off by Mr Robert Rosenthal, (BSc Geology, MSc Geology),
Technical Director at Pantheon Resources Plc, who has over 30 years relevant
experience within the sector.

Contacts:
Pantheon Resources Plc
Sue Graham, Chairman                     [phone]
Oriel Securities Limited
Scott Richardson Brown                   [phone]








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