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.

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