Business
Spudding of Nottoway Prospect
Spudding of Nottoway Prospect.
About this update from Pantheon Resources Plc
[{"type":"text","content":"\n Pantheon Resources PLC\n16 October 2007\n\n16th October 2007\n\n PANTHEON RESOURCES PLC ('Pantheon' or the 'Company')\n\nPantheon Resources Spuds First Well on South Louisiana Venture\n\nPantheon Resources, the AIM-listed oil and gas exploration company active in the\nGulf of Mexico, is pleased to announce the spudding of the first well on its\nSouth Louisiana venture. The Fay Weil Ross et al #1 well has commenced drilling\nin Iberville Parish, Louisiana which is located to the south of Baton Rouge near\nthe small community of White Castle, Louisiana.\n\nThe Fay Weil Ross et al #1 well is scheduled to be a 15,498 feet test of the\nNottoway Prospect (preciously referred to as White Castle Township), a\ngeological feature unknown until a new 3D seismic survey was shot in late 2005.\nThe operator is Petro-Hunt, L.L.C. ('Petro-Hunt').\n\nThe Nottoway Prospect is located between two existing oil & gas fields, White\nCastle Dome and Laurel Ridge. Deeper exploration was undertaken on both fields\nin 2006. New discoveries were made in both White Castle Dome and Laurel Ridge\nField in the deeper Oligocene section in 2006. Similar zones are objectives in\nthe Nottoway Prospect.\n\nPantheon is participating with a 7.5% working interest ('WI'), carrying the\nfarm-out companies for a 25% back-in after project payout ('BIAPPO'). All costs\nwill be recovered by Pantheon prior to back-in by the farm-out partners and no\nrevenues will be received by these companies until Pantheon attains payout.\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\n\nFor further information on Pantheon Resources plc, see the website at\nwww.pantheonresources.com\n\n Ends\n\n\nFurther information:\n\n\n\nPantheon Resources PLC\n Sue Graham, Chairman +44 20 7379 0118\n\nOriel Securities Limited\n Scott Richardson Brown +44 20 7710 7600\n\nCapital MS&L\n Steffan 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\no...