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.

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

Sorry, it ISN'T doing exactly as I would hope

Me either.

Good chance that:

1. News of a gas show at DD leaked, causing the rise.

2. Confidence evaporated because there is no official confirmation as yet.

3. This mornings ambiguous RNS didn't help.

If anyone has any money this could be a moment of grace, giving a marvelous chance.

My money is tied up in PRE, SEY and PCI, and I have known better days than this one!

Our hour will come. Keep the faith.

Bolivian drilling is part of a drill-commitment programme. It is not supposed to generate a producing well, but to prove out the reserves and keep the grant of the lease live.
The Bolivian assets need development with the aid of a 25km pipeline .. which when it is active may produce as much as USD100k a day in revenues - maybe in 2005/6. (400bcf of gas is not to be sniffed at - literally - it's odourless)

My point is this - we are all awaiting the drilling result from the Texas Dome - where there is a pipeline already in existence (for gas) and oil production can easily be delivered to market.

Hang in - as said above - buying in at these prices could be a great opportunity. And yet - bear in mind Rothschild - he always sold too early - giving some room for the next man and getting out before a +/- correction - if you have a profit and are comfortable you can take it - plenty of people did Friday last at 30 / 32p - as Twain said - a mine is a hole in the ground surrounded by liars (the equivalent today might be a well surrounded by chat room posters).

There is plenty of value tied up in the Bolivian assets yet to be released ON top of the value being generated on a daily basis ON top of the Dome drilling - which could transform the company .. and probably will.

There are 7000 active shareholders, see the light - once the price moves it will reflect market demand / supply very quickly and give a true market, so this lull is a natural break - once the Dome hits get with the trend.

AND DYOR!

oilbarrell.com today

18.11.2004

El Dorado Reserve Numbers Add Up For Pan Andean
Pan Andean looks to have added to Bolivias swelling natural gas resource base with the success of the El Dorado X-1004 exploration well, which lies about 40 km south of the city of Santa Cruz.

Were pretty sure its commercial, said Pan Andean managing director David Horgan. Its confirmed a western extension of the El Dorado field and the presence of good to excellent sands in terms of their porosity and permeability.

Mechanical downhole problems meant the well didnt reach its total depth and the well wasnt production tested. The disappointment was tempered, however, by the success of electric log results in the primary target zone, which have strengthened the AIM-quoted companys belief that the total reserves tally more than 400 billion cubic feet (bcf) of gas and 6 million barrels of associated condensate.

Re-entry isnt cheap so well leave the production test until were ready to bring the well onto development, said Horgan. Theres no immediate gas market at the moment and weve fully discharged our well commitments on the block so theres no point incurring any more expense at this stage.

Bolivia certainly offers substantial exploration upside. TotalFinaElf recently made a large discovery near Pan Andeans Monteagudo field in southern Bolivia: the French oil giants Incahuasi discovery could hold as much as 12 trillion cubic feet of gas. But, while the economic cycle in the region is picking up, the domestic gas market is not yet ready to absorb the volumes being found and political uncertainties have stymied investment in the Liquefied Natural Gas or Gas-To-Liquids plants that could transport those volumes to energy-hungry markets elsewhere.

Pan Andean and its partner, British supermajor BP, are reviewing the project economics of a GTL project in Bolivia, which would use the El Dorado gas to generate highly marketable diesel fuel. There is some uncertainty about the tax rates and royalty rates, said Horgan. People are less inclined to invest in GTL when theres uncertainty. However, the economic cycle is rebounding strongly in Latin America, Argentina is consuming more gas and were getting a reasonable price for our gas.

While the longer term outlook in Bolivia is starting to pick up, in the short term the real gains are to be made in the US.

In the US we can get US$8 per thousand cubic feet and we can bring any finds onstream within three weeks, enthused Horgan. The prospects may be modest, just 50 bcf or 100 bcf, but we get a fabulous price and its so efficient to develop. Its completely the opposite of Bolivia, where there are vast gas targets but the prices are more modest.

Pan Andean is drilling ahead at the moment on the Blackstone Ivory-1 well on its Danbury Dome leases onshore Texas. We are now at 13,000 ft and weve seen excellent gas shows which means we know theres some gas to pay back the cost of the well, said Horgan. Its a 50 bcf target and if we find that then well drill another well immediately to maximize the gas price.

The company is already enjoying enhanced cash flows from its clutch of US properties: these include onshore production from the Vrazel, Zachery and North Bob West fields and, in the Gulf of Mexico, the High Island 52 and Gryphon fields. These stateside successes have contributed to a year of solid success, with profits rising from 360,000 to 1.2 million.

Meanwhile, the company is looking to add new acreage to its Americas portfolio and is eyeing opportunities in the Middle East and Europe. Two possible new ventures in the pipeline include an existing producer with exploration potential in Europe and an exploration joint venture in Iran.

Posted on The Motley Fool and ADVFN, so ther may be some substance to this.

Believed by me to come from tips.com

"Bear raider Evil Knievil took this(today's news)as a cue to buy arguing that drill results from the Danbury Dome field due within a week could see a huge re-rating."