Business
Exploration update
Exploration update.
About this update from Pantheon Resources Plc
[{"type":"text","content":"\n Pantheon Resources PLC\n26 February 2007\n\n26 February 2007\n\n\nPANTHEON RESOURCES PLC\n\n\n\nPadre Island exploration update\n\n\n\nThe Kindee ST 212 #1 well on the Wilson Structure was spudded on 7 February 2007\n(Texas, USA).\n\nThe Board of Pantheon Resources PLC announces that it has been advised by the\noperator, Golden Gate Petroleum Ltd, that progress is ahead of schedule and the\nwell is at 7,937 feet and drilling ahead. The planned total depth of the well is\n12,400 feet (measured depth).\n\nWilson is the second well of a multi-well programme and will be targeting the\nupper Frio system. Gross best estimate potential reserves (previously described\nas 'P50 potential reserves') have been assessed as c.9 billion cubic feet.\n\n\n\nThe operator also advises that final farmin issues with Cinco were unable to be\nresolved and the adjusted working interests in the well are as listed below.\n\nPartners in the ST Kindee #1 well are:\n\n\n\nGolden Gate Petroleum Ltd 58.23% WI\n\nModena Resources Limited 10.0% WI\n\nPantheon Resources Plc 31.77% WI\n\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\nContacts:\n\nPantheon Resources Plc\nSue Graham, Chairman +44 20 7379 0118\n\nOriel Securities Limited\nDavid Arch +44 20 7710 7600\n\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":1803,"tagName":"div"}]