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.

Well if you have bought in, good luck.

I hope you wont need it.

The other Co they have a hand in PET is full of rumour of late, nothing yet substantiated, but I am told wait till the 7th...........

pre at 52 week high of 15.25p things are looking good! What would happen if pet purchased pre or a merger between the two considering the directors are the same?

Been thlought of before been prposed before it still did not happen.

Why would they want to give up a second salary?

Apart from that PRE and PET have no consistent issues so it does not make any sense.

As usual, dyor nag etc, and happy new year!

next news IMHO will be flow rate of HI30... from the interims...


"The pipelines are finished and the pumps should be operational in January 2007.
After testing, production will commence at an expected rate of 300 barrels a day of oil with associated gas. At current prices this implies a revenue of over $20,000 a day."

nice news hey $20,000/day = $7,300,000/year = 3.75 million increase in turnover sounds like good news to come hey!

Nice enthusiasm.

Lookie here argos7, if you are happy to invest here then it's the right thing to do.

My view is jaundiced, (and with good reason), however the Danbury Dome fiasco was a while back, and really the Board are experienced oilers who have had quite some success in the past, plus they may well be about to pull off a major coup in Iraq, so if you like them, buy them and stay with them.

I would ask that you do research, make you mind up and blame yourself if the consequences of your actions prove to not as wise as you would have expected them to be.

Oilers are a risky business, but the rewards can be equally high if things go well.

Good luck, I will be watching, and if I can positively help along the way, rest assured I will do so.

pre has new website and shares look cheap high island 30 on line soon!?
surely a buy!

I agree things are looking up in Peru and other areas - I think its a buy!!

after years and years of waiting we are at last generating income and more stikes and this baby will fly into orbit!!
A re-rating due!!

pre could have a good 2008 things are looking brighter with oil price high.

ARE WE MOVING AGAIN,OR IS IT A DREAM.

its real bugger

Is it the 20p takeover that made it go up?

nick there`s been a buyer in recent weeks and the mms are jumping trough hoops in order to fill his order.

He must be important to get mms jumping through hoops, but yes you are right someone is trying to buy a large number of shares at the moment, i wonder who.

no doubt all will be revealed.