Drilling Update

Pan Andean Resources PLC
11 April 2000



Pan Andean wishes to announce that the 1,500 horse power rig earmarked to
drill the Chipiriri X-1 well in Pan Andean's Chapare Block in central Bolivia
is running late on an existing programme for another client on a nearby block.

Pride International have confirmed that they plan to start mobilising over the
coming days, and that the lighter equipment will start moving to the Chapare
Block.

The expected full mobilisation date is May 15th and drilling is expected to
commence on May 22nd but the exact dates are dependent on the release of the
rig from the other site.