Pantheon Resources plc ("Pantheon" or "the Company"), the UK based independent oil and gas exploration company focused on the U.S. Gulf of Mexico region, today announces its preliminary results for the period ended 30 June 2007. The Company has published its annual report and accounts for the year ended 30 June 2007 and hard copies are being posted to shareholders. In addition, the annual report and accounts can be obtained free of charge for a period of one month following the date of this announcement from the offices of the Company's nominated adviser, Oriel Securities Limited, being 125 Wood Street, London EC2V 7AN.

HIGHLIGHTS

• First commercial discovery and production within six months of initial public offering ("IPO");
• Cash flow being generated from existing discoveries;
• Asset base expanded and diversified;
• Asset portfolio retains potential for major growth in reserves and production;
• Active drilling programme has commenced with spudding of well on Nottoway prospect;
• Board strengthened with appointment of new independent non-executive director;
• Search for CEO advanced;
• Successful placing of 1.5 million shares in November 2007 providing additional funding to help finance the drilling programme, as well as for the provision of general working capital;
• Pre-tax loss including writedowns previously announced of £5,095,034 ( 2006: pre tax loss £339,314).

To view the complete announcement as a PDF click on the link below.