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.

Theory elsewhere that this is about an Iran deal - the "joint venture in the Middle East" that has been mentioned prevously and may have leaked.

If so, another Petrel, which is up by 400% from the point where I looked at it and stupidly failed to buy. Shall we say 60p+ if Iran is the deal.

Lets say that.

As Teeling is CEO of both PET and PRE, it makes sense.

In a way I hope it is that for the sake of the other long sufferers on PET.

They deserve it!

Up and down like a t*rts nickers.

Think it's time to stop wtching and get some work done.

IOf it's gong to happen it will even if I'm not here.

SWW - I am not very familiar with Tart's underwear, but I do know that there is a "k" in knickers!

What started all this speculation? We still don't know.

No idea.

Thought it looked wrong!

the letter k

Dropping off today, wierd or what?

having a punt around now to see if anyone has any ideas.

Texas drilling hopes prompted a speculative gain of 6 3/4p to 27 3/4p in Pan Andean Resources.

http://www.thisislondon.co.uk/news/business/articles/timid84574?source=

Thanks SWW

There is gas either side of the area where they are drilling so we are in with agood chance IMHO.

Agreed.

Over all a good stock to hold.

Loads going for it.

I still fancy that JT has a hankering to have one Office instead of 2!

Don't see that happening till The contarcts are settled in Iraq, which could be about now.

Lets face it, the Irish have nothing to fear being in Iraq working on oil.

They are seen as freinds.

Anyone know when Wall St opens? That might produce some buys.

Added more sub-27p (not looking like I might get a chance at my preferred 24-25p level, at least not today; maybe Monday)

I did the same, just.

Got 26. something.

I agree with what you say.

DD is imminent.

60 cents per share if it comes in and the last heard is that there are no negatives, and they are nearly there.

That is not yet in the price imo.

Well the price lost 3/4p today after yesterdays rapid advancement.

On the back of no real news I say that is sucess for the week.

Looking forward to next week and with luck a big strike.

Pan Andean Resources PLC
12 November 2004

Pan Andean Resources plc announces that it has applied to have an additional
50,000 ordinary shares of 1p each listed on the Alternative Investment Market,
pursuant to the exercise of options. Admission is expected to take place on
Thursday 18 November 2004.


This information is provided by RNS
The company news service from the London Stock Exchange

Up 1.5p without an RNS.

mm's reported short of stock!

Someone knows something, but what?

Someone knows something, but what?

Or just speculative money sloshing around SWW, coming out of PET et al. I'm in at 16.71 and hoping to sell half on the double, but that may take some time. The 50k seller is still with us unfortuanately. Then again if it goes over 30p punters will remember Friday and start profit taking, and who can blame them.

It looks as if this started with an unsubstantiated rumour and we could use another. If there is any big sustained buying then someone really does know something.

Good comments.

Most likely answer I think.

Thanks

Well that rally didn't last long - that 50k selling barsteward cost us a rise to 30p. Lets hope it isn't the Directors selling!

Well that rally didn't last long - that 50k selling barsteward cost us a rise to 30p. Lets hope it isn't the Directors selling!

Pan Andean Resources PLC
17 November 2004


Pan Andean Drilling Update from Bolivia


The El Dorado X-1004 exploratory well, located in Santa Cruz, Bolivia, has been
completed.

We encountered gas shows at target depths with good porosity and permeability in
the key target zone.

Electric logs showing the presence of gas, good porosity and permeability
strengthen our belief that the total reserves are over 400 bcf of gas and 6
million barrels of associated condensate.

Production testing was inconclusive, pending re-entry closer to the development
date.

The well confirms that the reservoir extends at the west flank of El Dorado
anticline.

The sp is doing exactly as I would hope