any panandeans on here?

PAN ANDEAN RESOURCES (BUY)

Pan Andean moved into profitability amid some very upbeat signals about its future prospects. As well as recording a pre-tax profit, the group has a positive cash flow of 1.6 million and daily production of oil has topped 1,000 barrels. It is also receiving royalties of $100,000 per month. Furthermore, it has acquired ownership of a significant acreage in the Danbury Dome area of Texas, and this offers significant drilling opportunities. Estimated reserves here alone could amount to 100 billion cubic feet of gas. The deep target with Gryphon on High Island 52 offshore Texas also has strong potential, and Gryphon has already drilled two hits on the block producing 35 million cubic feet of gas a day. It has been a long hard slog for Pan Andean, and after 15 years this is the first ever profit. And with royalties set to increase further, the group may have finally turned the corner for good. (JC).

For those who missed the recent article in Shares Magazine.

Panandeans get everywhere pizza.

LOL !

So this is were you Panandeans go to chill out

all we need now is shhhhhh, you know who !!

ps some large sells at the moment. Im assuming they are just taking advantage of the mupperty run up after the shares mag tip. There should be some solid support based on the decent results this time though.

AYE!

I'd almost forgotten I'd still got a few down the Pan Andean shares. It looks as though things are finally coming together, though no massive price hikes as yet.

I suppose the only way we can make some serious money on these is to wait for the next big gas strike rumour. Any inkling from JT as to when this is planned to circulate ?

overgrowth
AGM next week i believe so should know more soon.

im expecting an announcement of a drill before xmas, previous drilling has caused huge share price rises in the past, will it be any different this time ?

A short term 40-60p on the cards perhaps ? That would help the festive season along well.

As contestants in the shares4schools, who bought some, i hope you'll be right!

You can never tell with PRE, as is the case with any other exploration company.

As soon as news of a strike is out, the mad scramble to buy will start and rise at a phenomenal pace. If it happens, then mind that you don't hold on for too long before you sell.

testing testing..........

ping

Hello must use this website more often, my Apple MAC doesnt like ADVFN these days.

How did the meeting go with ML , looks like they talked about PET (+37%) rather than PRE still it shows what can happen in these type of oil stocks i guess, PRE next ?

Pan Andean Resources PLC
08 March 2005


Pan Andean Resources PLC

Texas Update

Pan Andean Resources, (AIM: PRE) the oil and gas explorer and producer in South
America and the Gulf of Mexico, announces an update on exploration and
development activities in the coming months.

Danbury Dome Area, onshore Texas

Pan Andean is active in this large area, some 60 kilometres south of Houston
with one well coming on stream and four wells being spudded in the coming
months.

The Blackstone Ivory well on the Pan Andean lease is being connected into
the Pan Andean owned gas gathering system and will shortly produce at a
minimum level of 1 million cubic feet of gas a day. Pan Andean has a 20%
interest.

Pan Andean as 100% operator will workover the 8,800 foot deep Korenek No. 4
well. It is believed that commercial levels of gas exist in other strata.
Assuming success, further wells will be drilled on the lease.

Zachry as operator will spud within 10 days an 8,450 foot well in to test
the Frio Sands in the Korenek area. Pan Andean has a 7.3 % working
interest.

In June Zachry will drill a 10,650 foot well to test the Frio Sand strata
in Danbury Dome East. Pan Andean has a 9.75% interest.

In July, Zachry will test the two strata in Danbury Dome Neff area by
drilling a 10,000 foot well. Again the targets are the Frio Sands, Pan
Andean holds a 9.75% interest.

A well will be drilled by Houston Petroleum in the Vrazel area of Danbury
Dome. The Pan Andean interest is 20.9%. This well will commence once the
Zachry wells are complete using the same drilling rig.

Gulf of Mexico, High Island 30

Pan Andean is installing gas lift and developing a new pipeline system for this
block. Difficulties in acquiring sufficient gas has delayed the installation of
a pipeline tying in to the gas gathering system. Production will start when
compression and platform modifications are completed. Output should be circa 300
barrels daily. Pan Andean has a 67% working interest.

Estaban Project, West Texas

The Cooper No.1 well will spud within two weeks. The target depth is 6,400 feet.
Targeted production is 200 barrels of oil daily. A further 8 wells are planned
if the first one is successful. The overall potential could be 5 to 6 million
barrels of oil. The prospect is low risk as oil has already been discovered. New
technology acid treatments will be used to extract oil from the un-drained
zones. Pan Andean holds a 25% interest.

John Teeling, Chairman of Pan Andean Resources plc, said, 'This is a busy time
for Pan Andean. The opportunity is onshore USA. High prices, quick drilling and
fast connections offer a rare chance to generate rapid cash flow. In the coming
months we will participate in at least 5 wells onshore USA. We also have two
producers coming on stream. The Blackstone Ivory well on Danbury Dome is coming
on stream at a minimum of 1 million cubic feet of gas daily. High Island 30 will
shortly restart at 300 barrels of oil daily. At current oil and gas prices, both
projects will be very profitable.

Most of our wells are being drilled in the Danbury Dome area of Texas. We
already produce in the Zachry, Vrazel and Korenek areas. There is significant
potential in each of these leases. While not reaching the very high levels
expected, the Black Stone Ivory well in Danbury Dome will contribute up to
$50,000 a month to Pan Andean.

While focusing on immediate opportunities in the US, we are examining a proposal
to increase our stake in the Monteagudo oil and gas field in Bolivia. At the
same time, we are examining early stage exploration projects in Africa and the
Middle East'.

What do you make of it Curry?

PING!

Aye it pinged early, but not many buyers.... the news is about stuff happening later, nothing very big for the short term .

JT must have had a spare 5mins between opening new co's and thought, what the hell, lets have an RNS.

Market not impressed by the news today it seems

if they give more regular reports it might help

PING!

Pan Andean Resources PLC
20 April 2005



Pan Andean Resources plc

Drilling Update - Texas


Pan Andean Resources, (AIM: PRE) the oil and gas explorer and producer in South
America and the Gulf of Mexico, announces an update on drilling on its Texas
interests.


The Zachry-Korenek No.2 well in Danbury Dome, in which Pan Andean holds a 7.3%
interest, has been completed to the target depth of 8,585 feet. Electric logs
confirm at least four commercially productive zones. Gross reserves are
estimated to be 3 billion cubic feet of gas and 300,000 barrels of oil. The well
has been tied into the production system and is producing 300,000 cubic feet of
gas per day from one zone.


In West Texas, the Estaban No. 1 well in which Pan Andean holds a 20% interest
has been drilled to the target depth of 6,400 feet without finding the
reservoir. This result is surprising and disappointing as the well was drilled
close to existing producers. It is expected that, following evaluation, one of
the existing abandoned shallow wells will be re-entered and drilled to target
depth. The reservoir was discovered in 1955 but available technology at the time
and low oil prices combined to make production uneconomic.


In the coming three months, further wells will be drilled in the Danbury Dome
licence area:


Danbury Dome East (Pan Andean interest - 9.75%)
Neff Area (Pan Andean interest - 9.75%)
Vrazel Area (Pan Andean interest - 20.9%)



Contacts:

Jim Finn + 353 1 8332833


Bell Pottinger Corporate & Financial
Nick Lambert +44 7811 358 764

This news is very well recieved by ex holders on ADVFN, the thread is worth a read.

LOL

lol !

Is Pan Andean setting off on one of it's regular false dawns?

skg

seems likely

No news due I thought.

Could be another run it up and down again.

Of course they do share a couple of targets in the GOM with Sterling and the latter are drilling there at the moment.

nearly 2Million shares traded so it does not look like an MM induced rise.

Maybe it is the Iran rumour.

Note that the 3 months is up, by end of June, on news of the Danbury Dome well drilling

Interim Results

RNS Number:5645V
Pan Andean Resources PLC
13 December 2005


Pan Andean Resources Plc

Interim Results for the six months to 30th September 2005


Chairman's Statement


For the six months ended September 30 2005 Pan Andean recorded a pre-tax profit
of #430,000. The Company has maintained a strong cash flow due to high oil and
gas prices. The recommencement of production from High Island 30, which is
expected in early 2006, will boost our earnings in the coming year.


We produce oil and gas in the US and in Bolivia. Reserves are mainly in Bolivia.
We are pursuing new exploration projects in Peru and in Iran.


US Production


Offshore Gulf of Mexico


Pan Andean's production facilities in the Gulf did not sustain serious damage
from Hurricane Rita but production was lost for most of October/November because
of damage to the onshore facilities owned by the pipeline company.


* The Gryphon wells on High Island 52 are now producing in
excess of 30 million cubic feet of gas daily. Pan Andean has a royalty on
production worth in excess of net US$140,000 a month at current gas prices. A
new well is intended to be drilled by Gryphon in the first half of 2006 which is
expected to double production. This will be drilled at no cost to Pan Andean.



* The gas production platform on High Island 52, in which Pan
Andean has a 50% interest, is expected to recommence production by the end of
2005.


* Production at our oil producing platform at High Island 30
will re-start when the gas compression and transmission facilities to shore are
installed at Platform 24. The work was delayed due to Hurricane Rita and the
subsequent shortage of equipment and service boats in the Gulf of Mexico. Work
is now underway and should be completed within a month.



Onshore Texas:


Drilling is underway on the first of two new shallow wells on the Zachry
acreage, in Danbury Dome. The Blackstone Day No 1 well is expected to take 7 -
10 days to reach the target depth of 10,600 feet where it will test the middle
Frio F-5 and F-6 sands. The expected reserves are 8 billion cubic feet of gas.
Results should be available by mid December.



Following completion of the Blackstone well the rig will move location to drill
the Neff -Geissen No 1 well. The target is 450,000 barrels of oil and 1.5
billion cubic feet of gas at a depth of 8,900 feet. Zachry Exploration is the
operator and Pan Andean holds a 9.375% working interest in both these leases.



Production is continuing on the Vrazel No 2, Korenek No 1, Korenek No 2 and
North Bob West wells. On the Vieman lease at Danbury Dome Pan Andean is working
to bring in new partners to drill a deep well in 2006.



Iran



Pan Andean has vigorously pursued Iranian exploration opportunities in recent
months. The Iranian authorities are open to new ideas and approaches. We hope
to win a study contract during 2006.


Persian Gold plc, a company under the same management as Pan Andean, is already
exploring for gold in the Takestan mountains west of Tehran. Another company
under the same management, Petrel Resources plc, has just signed an oil field
development services contract on the Subba & Luhais oil fields in the
predominantly Shia south of Iraq. This has given Pan Andean credibility and
access at a senior level.



Since the 1990s, foreign investment in Iran has been limited to large oil groups
with buy-back contracts. Larger groups are best suited to very large gas
developments. There are many shortcomings associated with the buy-back
approach: it does not align the investors' interest well with the country and it
encourages a cautious and short-termist approach. US sanctions effectively
prohibit US companies. Political developments mesmerise many others. Where
they see difficulties we see opportunities.



The recent election has opened Iranian policy to review. For existing players
there is uncertainty. For Pan Andean there is now an opportunity to study
medium-sized oil structures, whose technical challenges may leave them below the
radar screens of oil majors.



Our advantage is that Pan Andean is independent from the major oil companies but
has access to world-class technologies attuned to Iranian circumstances. We can
approach exploration and production challenges of demanding reservoirs. There
are no constraints in bringing that know-how to Iran.



One possibility under discussion is for Pan Andean to study, and if appropriate
and acceptable, explore and develop existing fields and structures on the
Iranian/Iraqi border.



Peru



Peru is one of the world's longest established petroleum-producing provinces
worldwide. The hydrocarbon potential of remote jungle areas was neglected
during the 1970s and 1980s because of concerns over economics and government
policy.



Now, with Peruvians opting decisively for business-led development and a high
oil price, the time is right to vigorously explore selected acreage. Royalties
are reasonable at 5% to 20%, depending on production. The standard corporate
tax rate is 30%. Latin American procedures are ponderous, but the contracting
agency is transparent and efficient. Importantly, given developments elsewhere,
there is a fiscal stability clause forbidding tax or royalty changes over the
contract life.



Pan Andean was one of the first European groups to identify Peru's potential.
We focused on the central jungle basin, with similar geology to attractive
producing zones in Columbia and Ecuador.



We are in the final stages of acquiring Lot 114 in the central jungle zone, on
which there were 1970s oil discoveries. Data includes over 2,000km of 2d
seismic and 4 wells.



Development of the substantial river system has opened up this region. There
are now low draught barges capable of transporting large drill rigs and other
equipment. This has reduced mobilisation and logistical costs - opening up
discoveries to economic development.



The stratigraphy of this area is complex, with folding and thrusting. This
calls out for application of new analytical and data processing techniques to
better understand the sub-surface and direct exploration wells.



We have conducted initial geological work and plan to formally launch a fuller
work programme immediately after contract signature - expected early in 2006.
We plan to re-process, where appropriate, existing seismic and well data. Our
team will reinterpret existing data and develop a regional model to identify key
priorities for further delineation seismic acquisition. When satisfied with the
size and potential of worked-up prospects, we plan to drill one or more wells.



Bolivian production



Bolivia has some of the finest undeveloped and un-drilled gas exploration
targets outside the Middle East. This should be a time of growth and
opportunity: energy prices are high, new technologies to monetise large gas
reserves are advanced, the US market is gas-hungry. Yet investment has slumped
in Bolivia and there is political and tax uncertainty. Highly prospective
exploration acreage has been relinquished. There are question-marks over the
commitment and political skill of the oil majors. The draft Hydrocarbon Law
purported to breach solemn international contracts, backed by international
treaties, which limited royalties to an effective 18%. The legislation
purported to increase the tax rates but in a way that was effectively imposing
an increased royalty, rather than a real tax. Moreover price controls limit
revenue to about half of the international price for liquids. Producers are in
an invidious position where they are effectively taxed on the international
price, while only receiving revenues of half that level. This is unfair,
unlawful and counter-productive. Sooner or later such treatment will be
corrected.



Our strategy is to maintain our position and emerge from the current political
and economic turmoil affecting Bolivia. The petroleum industry, including Pan
Andean's local subsidiary, have opted for international arbitration. Given the
economic slump and investors' strike, it is only a matter of time before a
solution is worked out.



There are elections due on 18th December 2005. We are hopeful that a new
government with a renewed mandate will cut the Gordian knot - unleashing a wave
of investment that will power export-led growth distributing benefits to
investors, both domestic and international, the authorities and the general
population.



Future



Pan Andean is well placed to take advantage of high US gas and oil prices. The
re-start of oil production will boost income while our participation in onshore
and offshore Texan gas wells may prove lucrative. The work being done in Peru
and Iran may prove very significant for the future.

PONG PONG PONG.

Well PIZZADOG - another dry hole.

Pan Andean Resources PLC
19 December 2005

Drilling Update


Drilling has now been completed at the Blackstone Day No 1 well. There were no
hydrocarbons present. The rig will now move location to drill the Neff -
Geissen No 1 well, where spudding is expected within 2 days. The target is
450,000 barrels of oil and 1.5 billion cubic feet of gas at a depth of 8,900
feet. Drilling is expected to take 10 - 12 days. Zachry Exploration is the
operator and Pan Andean holds a 9.375% working interest.

Look on the brightside. This is the only 'oil' co not exposed to oil price volitility.
skg

lol

EEN looks a million times better now hey?

Oh.

PS to PIZZADOG I don't hold either of these stocks.

Another bad PONG day for Pan Andean.

Brilliant