• The Kindee ST 212 #1 well on the Plum Deep structure was spudded on 1 August 2006 ( Texas , USA).
• As of 8.00 am Texas time on 11 September 2006, the well was drilling ahead at a depth of 10,071 feet.
• The Plum Deep structure is considered to be a world class exploration prospect. Gross best estimate potential reserves (previously described as "P50 potential reserves") have been assessed in a 161-293 billion cubic feet ("bcf") range.

• Pantheon is paying 33.33% of the well costs to earn a 25% working interest.  
• Well still expected to take a total of 65 days to drill.

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.