Option Grant

Pantheon Resources PLC
02 November 2007


Issuance of Options to new Director


02/11/2007


Pantheon Resources plc ('Pantheon'), the UK-based oil and gas exploration
company active in the Gulf of Mexico, announces the granting of options to 
subscribe for 300,000 Ordinary Shares in Pantheon to its recently appointed
Director, Mr John Walmsley.

The price payable for these shares is 100p per share for the first 100,000
shares, 150 pence per share for the second 100,000 shares, and 200p per share
for the remaining 100,000 shares. This compares with a closing share price of
65.5 pence as at 1 November 2007. These options may be exercised at anytime up
until the close of business on 3 August, 2012, and upon exercise will rank parri
passu with the existing issued shares in the company. This issue of options is
in line with previous awards and reflects the level of commitment expected at
this stage of the company's stage of development.

Mr Walmsley has 30 years' experience in the energy sector as adviser or
principal including periods as Chief Executive of Hardy Oil and Gas plc and
Managing Director, Finance and Business Development, of Enterprise Oil plc.
Pantheon believes the incentive based remuneration package aligns Mr Warmsley's
interests with that of shareholders.

Sue Graham, Chairman of Pantheon Resources, said at the time of appointment
that: 'Securing John as a board member will bring enormous benefits to the
Company, in international experience, strategic vision and contacts. Few can
match John's level of success and achievement in larger companies in this
industry and we look forward to making the most of his valuable contribution.'


Further Information:

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

Media Enquiries
Capital MS&L
Steffan Williams / Peter Curtain / Jennifer Martin
[e-mail]





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