Pan Andean is pleased to announce the spudding of an exploration well on our
Vrazel lease which is part of the Danbury Dome area onshore Texas.



The well has as targets three zones which may contain up to 7 billion cubic feet
of gas. At a cost of $1 million, the well will take 12 days to reach the target
depth of 9,200 feet and, if successful, can be tied in to existing pipelines
within three weeks. Pan Andean holds a 21 per cent interest in the project with
Houston Petroleum Inc, the majority partner.



Meanwhile, formal discussions continue in relation to the 75 billion cubic feet
target on our Danbury Dome leases. Pan Andean currently holds 100 per cent of
these leases and is examining proposals which may lead to a 20 per cent carry on
a $ 3 million 14,000 foot deep well.



John Teeling, Chairman commented, "Actions to develop our operations in the
highly prospective Danbury Dome area of onshore Texas continue to bear fruit.
Following the successful discovery on our, Zachery lease, I am very hopeful that
the Vrazel well will further enhance, not only our cash flow, but also the
potential and prospectivity of our 100 per cent owned Danbury Dome leases.

Curry and Pizza - I'm surprised that you haven't posted this yet for anyone in a speculative mood....


Pan Andean, the AIM listed oil and gas company announces new drilling, Onshore Texas

Pan Andean is pleased to announce the spudding of an exploration well on our Vrazel lease which is part of the Danbury Dome area onshore Texas.

The well has as targets three zones which may contain up to 7 billion cubic feet of gas. At a cost of $1 million, the well will take 12 days to reach the target depth of 9,200 feet and, if successful, can be tied in to existing pipelines within three weeks. Pan Andean holds a 21 per cent interest in the project with Houston Petroleum Inc, the majority partner.

Meanwhile, formal discussions continue in relation to the 75 billion cubic feet target on our Danbury Dome leases. Pan Andean currently holds 100 per cent of these leases and is examining proposals which may lead to a 20 per cent carry on a $ 3 million 14,000 foot deep well.

John Teeling, Chairman commented, "Actions to develop our operations in the highly prospective Danbury Dome area of onshore Texas continue to bear fruit. Following the successful discovery on our, Zachery lease, I am very hopeful that the Vrazel well will further enhance, not only our cash flow, but also the potential and prospectivity of our 100 per cent owned Danbury Dome leases.

Something is definitely brewing here - up 2p today!

Still owes me 7500.00!!! :o(

chartist2004,

ouch!

PRE owes me a lot less than that, but maybe we stand to at least recover some of our losses if this keeps up?

Think you could both recover your losses - the mms are short of stock