Drilling Update

RNS Number : 2514Q

Pantheon Resources PLC

07 April 2009

 



Press release

07 April 2009

Drilling Update

Pantheon Resources plc ('Pantheon' or the 'Company'), the AIM-quoted oil and gas exploration company active in the onshore region of the Gulf of Mexico, issues the following drilling update.  

Jumonville #2 Iberville Parish, Louisiana

As Pantheon announced yesterday, the Jumonville #2 well had reached total depth of 14,100 feet and an electric logging operation was due to commence. The operator GGP has informed the Company that electric logs run in the past 24 hours have provided some indications of hydrocarbons in the deep Cib Haz Formation despite the fact that no hydrocarbon shows were encountered on the mudlogs whilst the well was drilling. Electric logs and sidewall core data acquired over the past 24 hours are currently being analysed to determine the significance of the data and devise a forward plan.

Pantheon has a 15% working interest prior to back in rights and an 11.25% interest after back in. 

In accordance with the AIM Rules, the information in this report has been reviewed and signed off by Jay Cheatham, who has over 30 years' relevant experience within the sector.

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

Further information:

Pantheon Resources plc

Jay Cheatham, CEO

[phone]

Oriel Securities Limited (Nominated Adviser)

Michael Shaw

[phone]

 

END

 

 

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