Pantheon Resources PLC
16 May 2007
May 16, 2007
PANTHEON RESOURCES PLC
Drilling Update on Wilson Prospect, Padre Island
• The Kindee ST 212 #1 well on the Wilson Structure was spudded on 7
February 2007 (Texas, USA).
• Operations to run and cement a 7 inch liner at a depth of 9,982 feet have
been completed successfully.
• Drilling is continuing to test three primary objectives in the Upper Frio
system. Similar zones have been found to be productive elsewhere on Padre
Island.
• The well has a planned total depth of 12,400 feet (measured depth).
• Gross best estimate potential reserves (previously described as 'P50
potential reserves') for Wilson have been assessed at 9 billion cubic feet.
• Pantheon's working interest in Wilson is 31.77%, subject to final
documentation.
In accordance with the AIM Rules, the information in this report has been
reviewed and signed off by Mr Robert Rosenthal, (BSc Geology, MSc Geology),
Technical Director at Pantheon Resources Plc who has over 30 years relevant
experience within the sector.
Contacts:
Pantheon Resources Plc
Sue Graham, Chairman +44 20 7379 0118
Oriel Securities Limited
Scott Richardson Brown +44 20 7710 7600
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