Pantheon Resources plc (“Pantheon”, the “Company” or the “Group”), the AIM-quoted oil and gas exploration company active in the Gulf of Mexico, today announces its final results for the period ended 30 June 2008. The Company has published its annual report and accounts for the year ended 30 June 2008, copies of which are today being posted to shareholders and will be available on the Company’s website at www.pantheonresources.com.

KEY POINTS

• Two major events occurred during the year; the appointment of a Chief Executive Officer and the subsequent entry into the Austin Chalk Tyler County Venture located in East Texas.
• New CEO, Jay Cheatham, has re-focused Pantheon and implemented new strategic plan.
• Pantheon now re-positioned away from single-well prospects into plays with major development potential.
• Pantheon has an exciting programme of development and exploration activity ahead and a strengthened management structure and focus.
• Two successful capital raisings to raise a total of £5.44 million before costs.
• Operating loss for financial 2008 £4.87 million compares with £5.33 million for financial 2007.
• Results dominated by exceptional items relating to material impairments, notably Wilson but also Point Clair and Nottoway Dome in South Louisiana and Manzano.
• Post balance date success of the Jumonville #1 well on the Bullseye prospect. This has the potential to be one of the largest onshore discoveries in South Louisiana in recent years.
• First appraisal well on Bullseye, Acosta#1, spudded in November 2008.
• First well on Tyler County Austin Chalk venture spudded in November 2008.

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