Business
Production Update - Sept 2007
Production Update - Sept 2007.
About this update from Pantheon Resources Plc
[{"type":"text","content":"\n Pantheon Resources PLC\n04 October 2007\n\n\n\nPress release 4 October 2007\n\n\nPantheon Resources plc Production Update September 2007\n\nPantheon Resources plc, ('Pantheon' or the 'Company'), the AIM-listed oil and\ngas exploration company active in the Gulf of Mexico, is pleased to announce\nthat the Company's combined production, on a working interest basis, averaged\n875 thousand cubic feet a day ('mcfd') in September 2007. This compares with 97\nmcfd in August 2007. Average production to Pantheon for the July to September\nperiod was 359 mcfd on a working interest basis.\n\n\nPantheon's historic monthly production is provided in Table 1.\n\n\nTable 1: Pantheon Monthly Natural Gas Production on Working Interest Basis\n\n Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec\n2006 2 34 28 35\n2007 42 95 108 80 61 81 106 97 875\n\n\nPantheon benefited from the start-up of two new discoveries; Dunn Deep #2 and\nWilson. These augmented output from Pantheon's four fields in its Project\nWharton venture; Baptist, Caddo, Mohawk and Zebu.\n\n\nProduction commenced from the Wilson discovery on September 10, 2007. Initial\noutput was 2.5 million standard cubic feet of gas per day gross equating to\napproximately 450 barrels of oil equivalent per day ('mmcfd'). Performance\ncontinues to be monitored closely with the aim to reach 3 million mcfd.\nPantheon's working interest in Wilson is 31.77%.\n\n\nDunn Deep #2 came on-stream on September 17, 2007. Initial gross production from\nthe field was 3 million standard cubic feet of gas per day and 60 barrels a day\nof condensate, equating to approximately 560 barrels of oil equivalent per day.\n\n\nThis occurred less than two weeks from confirmation of a natural gas find.\nPantheon has a 7.5% working interest in Dunn Deep.\n\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\nFor further information on Pantheon Resources plc, see the website at\nwww.pantheonresources.com\n\n\n\n- end -\n\n\n\n\n\n\nFurther information:\n\nPantheon Resources PLC\nSue Graham, Chairman +44 20 7379 0118\n\n\nOriel Securities Limited\nScott Richardson Brown +44 20 7710 7600\n\n\nMedia enquiries:\n\nC...