Pantheon Resources plc ("Pantheon", the "Company" or the "Group"), the AIM-quoted oil and gas exploration company active in Louisiana and Texas, today announces its final results for the period ended 30 June 2009.

KEY POINTS

• This has been a year of great achievement for Pantheon notwithstanding the mechanical problems associated with the Vision Rice University #1 well ("VRU#1"). 
• Pantheon's refocused and refreshed corporate strategy was implemented. 
• Main achievement was confirmation of extension of the Brookeland field (Austin Chalk) into Pantheon's Tyler County acreage. 
• Pantheon, and the operator, Vision Resources LLC, now consider the Tyler County project proven as a development play which offers material value to shareholders.
• Initial analysis of the VRU#1 well's results has led to a marked increase in management's confidence in the project. Increase of 60% in average potential reserves per well now estimated by Pantheon's technical consultant.
• Second well on Pantheon's Tyler County acreage estimated to commence in January 2010.
• Austin Chalk remains the primary target. Secondary target also in deeper Woodbine formation which formed part of Pantheon's original farm-in of May 2008.
• Both features may be tested at a low incremental cost to Pantheon.
• Woodbine feature identified on seismic and considered to be a moderate risk prospect. Vision already producing from Woodbine from pre-farm in well located on Joint Venture acreage.
• Woodbine feature has the potential to increase significantly the value of Pantheon's acreage without compromising the safe and effective appraisal of the Austin Chalk.
• Operating loss of £3.17 million versus £4.85 million last year. Results dominated by post balance date events which amount to some £2.2 million.

The Company has published its annual report and accounts for the year ended 30 June 2009, copies of which are today being posted to shareholders and will be available on the Company's website at www.pantheonresources.com 

In accordance with the AIM Rules, the information in this announcement has been reviewed and signed off by Jay Cheatham, who has over 30 years' relevant experience within the sector.

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