Business
First Production-Dunn Deep #2
First Production-Dunn Deep #2.
About this update from Pantheon Resources Plc
[{"type":"text","content":"\n Pantheon Resources PLC\n19 September 2007\n\n19 September 2007\n\n\n\n PANTHEON RESOURCES PLC ('Pantheon' or the 'Company')\n\n Pantheon Resources Achieves First Production from Dunn Deep #2\n\n\nPantheon Resources, the AIM-listed oil and gas exploration company active in the\nGulf of Mexico, is pleased to announce the start-up of natural gas production\nfrom the Dunn Deep #2 well on Padre Island. Production commenced on September\n17, 2007. This occurred less than two weeks from confirmation of a natural gas\nfind. The Company has a 7.5% working interest in Dunn Deep.\n\nInitial gross production from the field is 3.8 million standard cubic feet of\ngas per day and 60 barrels a day of condensate, equating to approximately 560\nbarrels of oil equivalent per day. Output from Dunn Deep will augment\nproduction from the Wilson discovery which came on-stream on September 10, 2007.\n\nAlthough located on Padre Island, Dunn Deep is separate from the Padre Island\nJoint Venture. It should also be recognised that Dunn Deep #2 is a development\nof La Playa Mid-Frio Unit #1 (now referred to as Dunn Deep #1). However Pantheon\ndoes not have an interest in Dunn Deep #1. The operator is BNP, a private\nTexas-based company.\n\nSue Graham, Chairman of Pantheon Resources, said: 'The start of natural gas\nproduction from Dunn Deep #2 well is a significant development and demonstrates\nour continued progress in the Gulf of Mexico.'\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\nFor further information on Pantheon Resources plc, see the website at\nwww.pantheonresources.com\n\nEnds\n\n\nFurther information:\n\n\n\nPantheon Resources PLC\nSue Graham, Chairman +44 20 7379 0118\n\nOriel Securities Limited\nScott Richardson Brown +44 20 7710 7600\n\nCapital MS&L\nSteffan Williams / Peter Curtain / Jennifer Martin +44 (0) 20 7307 5330\n\n\n\n\nNotes to editors:\n\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...