• The Kindee ST 212 #1 well on the Plum Deep structure was spudded on 1 August 2006 (Texas, USA).
• As at 08:00 Texas Time, 18 September 2006, the operator was pulling out of the hole and preparing to log at a measured depth of 10,615 feet. After logging, 9 ?'' casing will be set
• Drilling operations to the planned total depth of 16,400 ft (vertical depth 15,000 ft) are expected to take a further 35 days.
• 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.

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.