Pantheon Resources PLC
07 September 2007
7 September 2007
Pantheon Resources PLC
('Pantheon' or the 'Company')
Dunn Deep To Be Completed as a Natural Gas Producer
Pantheon Resources, the AIM-listed oil and gas exploration company active in the
Gulf of Mexico, announces that the La Playa Mid Frio Unit #2 well (Dunn Deep,
previously known as La Playa Deep #2) will be completed as a natural gas
producer. The Company has a 7.5% working interest in Dunn Deep.
Start-up is currently estimated to occur within two weeks. An early hook-up to
the sales grid is achievable as the well has been drilled from an existing site.
Production data will be released when available.
The Dunn Deep well reached its planned total depth of 10,542 feet measured
depth.
Electric logs were run. Net pay of 20 feet was encountered within a 50 feet
gross interval in the main objective. No flow testing has been undertaken.
Although located on Padre Island, Dunn Deep is separate from the Padre Island
Joint Venture. It should also be recognised that Dunn Deep is an appraisal/
development of La Playa Mid-Frio Unit #1 ('La Playa Deep). However Pantheon does
not have an interest in La Playa Deep #1. The operator is BNP, a private
Texas-based company.
For further information on Pantheon Resources plc, see the website at
www.pantheonresources.com
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.
Further information:
Pantheon Resources PLC
John Walmsley, Director +44 7887 700022
Justin Hondris, Director +44 (0) 20 7379 0118
Oriel Securities Limited
Scott Richardson Brown +44 (0) 20 7710 7600
Capital MS&L
Steffan Williams / Peter Curtain / Jennifer Martin +44 (0) 20 7307 5330
Notes to editors:
Pantheon Resources PLC
Pantheon Resources plc was formed in 2005 to be an independent gas exploration
company focused on hydrocarbon producing basins onshore or near shore the Gulf
of Mexico. On 5 April 2006, Pantheon was admitted to the AIM, having
successfully raised £10m from a mix of quality institutional and private
investors.
This information is provided by RNS
The company news service from the London Stock Exchange ILFVTARIRIID