Press Releases

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 2010.

HIGHLIGHTS

• Financial year under review commenced on a positive note as an extension of the Brookeland field (Austin Chalk) into Pantheon’s Tyler County acreage was confirmed.
• Operator, Vision Gas Resources LLC (“Vision”), now considers the Tyler County project proven as a development play.
• Plans to drill a second well, Kara Farms #1, (“KF#1H”), have been impacted by the shortage of large horizontal rigs and the resulting rising cost leading to a series of unavoidable delays. 
• Vision’s current expectation is for drilling to commence in December 2010 or January 2011.
• The KF#1H well is scheduled to test both the main Austin Chalk target and secondary Woodbine objective which are two independent and totally separate targets.
• Drilling delays should not distract from the positive developments that have occurred at Tyler County. 
• Extensive geological analyses on both the Austin Chalk and Woodbine objectives have led to further confidence in the entire Tyler County play and enhanced expectations.
• Projected economics for the Tyler County project remain positive at current natural gas price. Leverage from either a modest natural gas price increase or reduction in service costs is high. 
• Through the Joint Venture Pantheon continues to build its acreage position in this exciting play.
• Pantheon raised a total of £7.8 million after expenses in difficult stock market conditions though two separate share placings.
• Loss for the year of £2.54m versus £3.05m last year. Results include impairment charges of £1.4m which included the final costs incurred in connection with the plug and abandonment of the Vision Rice University #1 well in September 2009.

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