Pantheon Resources plc ("Pantheon" or "the Company"), the AIM-quoted oil and gas exploration company active in Louisiana and Texas, today announces its interim results for the period ended 31 December 2009.

Key Points

• Last six months of 2009 were significant for both Pantheon's operations and finances.
• Drilling of the first well, Vision Rice University #1 ("VRU#1") on Tyler County confirmed extension of the Brookeland field (Austin Chalk) into Pantheon's acreage.
• Operator, Vision Resources LLC, now considers the Tyler County project proven as a development play.
• Second well, Vision William Baggett #1, scheduled to commence drilling in May 2010 based on operator's latest estimates.
• Key factor is Joint Venture's requirement to have correct facilities in place to avoid repetition of mechanical difficulties encountered at VRU#1.
• Main financial event was placing in December 2009 which raised £7.3 million after expenses.
• Monies committed principally to pay Pantheon's share of the budgeted costs of the next two wells on Tyler County plus the balance of back costs.
• Net cash was £5.7 million at end December 2009.
• Loss for the period ending 31 December 2009 of £702,550 (1H 2009 loss of £235,420), primarily attributable to the final costs incurred in the drilling of VRU#1 well.

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.

For further information on Pantheon Resources plc, see the website at: www.pantheonresources.com

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