Business
Dunn Deep Update
Dunn Deep Update.
About this update from Pantheon Resources Plc
[{"type":"text","content":"\n Pantheon Resources PLC\n07 September 2007\n\n7 September 2007\n\n Pantheon Resources PLC\n ('Pantheon' or the 'Company')\n\n Dunn Deep To Be Completed as a Natural Gas Producer\n\nPantheon Resources, the AIM-listed oil and gas exploration company active in the\nGulf of Mexico, announces that the La Playa Mid Frio Unit #2 well (Dunn Deep,\npreviously known as La Playa Deep #2) will be completed as a natural gas\nproducer. The Company has a 7.5% working interest in Dunn Deep.\n\n\nStart-up is currently estimated to occur within two weeks. An early hook-up to\nthe sales grid is achievable as the well has been drilled from an existing site.\nProduction data will be released when available.\n\n\nThe Dunn Deep well reached its planned total depth of 10,542 feet measured\ndepth.\n\nElectric logs were run. Net pay of 20 feet was encountered within a 50 feet\ngross interval in the main objective. No flow testing has been undertaken.\n\n\nAlthough located on Padre Island, Dunn Deep is separate from the Padre Island\nJoint Venture. It should also be recognised that Dunn Deep is an appraisal/\ndevelopment of La Playa Mid-Frio Unit #1 ('La Playa Deep). However Pantheon does\nnot have an interest in La Playa Deep #1. The operator is BNP, a private\nTexas-based company.\n\n\nFor further information on Pantheon Resources plc, see the website at\n\nwww.pantheonresources.com\n\n\nIn accordance with the AIM Rules, the information in this report has been\nreviewed and signed off by Mr Robert Rosenthal, (BSc Geology, MSc Geology),\nTechnical Director at Pantheon Resources Plc, who has over 30 years relevant\nexperience within the sector.\n\n\nFurther information:\n\n\nPantheon Resources PLC\n\nJohn Walmsley, Director +44 7887 700022\n\nJustin Hondris, Director +44 (0) 20 7379 0118\n\nOriel Securities Limited\n\nScott Richardson Brown +44 (0) 20 7710 7600\n\nCapital MS&L\n\nSteffan Williams / Peter Curtain / Jennifer Martin +44 (0) 20 7307 5330\n\n\nNotes to editors:\n\n\nPantheon Resources PLC\n\nPantheon Resources plc was formed in 2005 to be an independent gas exploration\ncompany focused on hydrocarbon producing basins onshore or near shore the Gulf\nof Mexico. On 5 April 2006, Pantheon was admitted to the AIM, having\nsuccessfully raised £10m from a mix of quality institutional and private\ninvestors.\n\n\n This information is provided b...