New Issue today....amazing acerage and fully funded for their entire 6 drill program. Priced VERY competitively..




Pantheon Resources PLC
05 April 2006



Not for publication, distribution or release in the US, Canada, Japan or
Australia


PANTHEON RESOURCES PLC
('Pantheon' or 'the Company')


Admission to the Alternative Investment Market ('AIM')


Pricing & Allocation


Pantheon Resources plc, today announces its proposed admission to AIM
('Admission') and a successful Placing by Oriel Securities ('Placing').


Placing and Admission


The Company has raised approximately 10.0 million through a placing
of 10,000,000 shares at 100 pence per share. Existing Shareholders have not sold
shares in the Placing.


On Admission, the Company will have a market capitalisation of
approximately 15.5 million.



Oriel Securities Limited, nominated adviser and broker to Pantheon,
and the Company have placed all of these shares with institutional and other
investors.



The Company intends to use the 9.4m net proceeds from the Placing to
finance its initial business strategy which is to drill a minimum of four wells
in certain under-explored deep sections under and around Padre Island, Texas.



The Directors also believe that Admission will help Pantheon attract
and retain high quality staff and raise the status and market profile of the
Company.



Admission and commencement of dealings on AIM are expected to take
place on 5 April.



Background and strategy



Pantheon Resources plc was formed in 2005 to be an independent UK
based oil and gas exploration company focused on hydrocarbon producing basins in
the Gulf of Mexico ('GoM') off the coast of the south of Texas. Specifically,
its initial focus is intended to be on the deep geological plays under and
around Padre Island.



In building its exploration portfolio in this region, Pantheon intends
to participate initially in six exploration prospects (the 'Farmout Prospects').
This is pursuant to a Farmout Agreement with the lessees that currently own the
leasehold interests over approximately 10,715 hectares (the 'Padre Island
Project Area' or 'PI Project Area'). These Farmout Prospects are ready to drill
from a geological and geophysical perspective. Importantly, a drilling rig
contract has been secured for 12 months with options to extend. The Directors
believe that a number of the Farmout Prospects located under or around Padre
Island may contain commercial quantities of oil and gas. Abundant infrastructure
with surplus capacity is located nearby. The Directors believe that these
factors should allow new discoveries to come online quickly in the event of
successful drilling.



Pantheon's strategy is to focus initially on hydrocarbon exploration
and production onshore or near shore in the GoM. Such areas offer lower drilling
and development costs than offshore while lead times to commercial production
are shorter. Being a small exploration company with limited capital, the board
of Pantheon believes these factors should enhance returns to investors and limit
future equity dilution in the event of successful exploration.



The Directors believe that drilling success should provide Pantheon
with a strong foundation upon which to build a focused exploration and
production company. Pantheon intends to manage carefully its risk and enhance
the probability of success through holding small working interests ranging from
10-25 per cent. and partner with experienced operators in the GoM region. The
Directors believe that small working interests should also enable Pantheon to
spread its risk across more prospects, while managing the probability of success
through improving the statistical risk profile. The Board of Pantheon believes
that any drilling success should have a positive impact on the Company's
valuation as the current prospects to be drilled are large in relation to
Pantheon's size. Pantheon, at this early stage of its corporate development, has
no intention of being an operator. It intends to keep its corporate overhead
costs as low as possible by having very few full time staff. This should ensure
both that capital is injected directly into the PI Project Area and that
leverage to shareholders is maximised in the event of drilling success. The
efficient allocation of limited capital is of paramount concern to the board of
Pantheon.



Placing Statistics:


Placing Price 100p

Number of Placing Shares to be issued 10,000,000

Number of Ordinary Shares in issue immediately following Admission 15,552,329

Percentage of the Company's enlarged issued ordinary share capital being placed 64.3%

Estimated net proceeds of the Placing (1) 9.4m

Market capitalisation immediately following Admission at the Placing Price 15.5m

Note:

(1) Net proceeds are stated after the deduction of estimated expenses of
approximately 0.6 million.



For further information, please contact:

Pantheon Resources plc 30 Farringdon St,
Sue Graham, Chairman London, EC4A 4HJ.
Justin Hondris, Non-executive Director

Oriel Securities Limited 020 7710 7600
Scott Richardson Brown


Oriel Securities Limited, which is regulated in the United Kingdom by the
Financial Services Authority, is acting exclusively for Pantheon Resources plc
and no-one else in the connection with the Placing and Admission and will not be
responsible to any person other than Pantheon Resources plc for providing the
protections afforded to clients of Oriel Securities Limited or for providing
advice in relation to the transactions and arrangements detailed in this
announcement. Oriel Securities Limited is not making any representation or
warranty, express or implied, as to the contents of this announcement.


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

proptrade,

Hope you don't mind me asking,but you would'nt have the PANR pre listing document by any chance and if so would you mind sending me a copy?

Will post my email address later if needed.

Thanks in advance.

Up so far today,with the buying probably from the sunday paper tip.

Tipped as a buy in The Bussiness by Clem Chambers (from ADVFN).

From 'The Business' today
Seeing the world through gold-tinted spectacles
By Clem Chambers
16 April 2006
When people ask why should gold go to $1,000 an ounce I have always asked why not? On an inflation adjusted basis, the gold/oil long-term price correlation would have gold at around $1,100 an ounce already. As gold rises all sorts of new supplies will be found and with oil and other commodities the cycle will go into reverse. Yet that looks like a couple of years out and if the emerging markets continue their ex-pansion, the usual bust side of the cycle may not be that severe. In any event, oil is the lead indicator.
After last weeks thrilling Tesco tip, this weeks can be a little riskier. Before I deliver it, Im going to reiterate an earlier tip of Johnson Matthey. This is a blue chip, so for those happy with just building a sensible portfolio, look no further. For the risk-hungry, consider a chunk of newcomer Pantheon Resources a recent IPO and an energy exploration company. It has got away to a good start with a decent roster of smart institutions on board and has a good story forming. If you can stand the excitement and afford it, this is just the kind of play to add zip to the risk end of your portfolio. Remember though, never fall in love with a resources stock; always keep an eye out for the exit.

Clem Chambers is CEO of ADVFN, Europes leading stocks and shares website. For

affc21 - sorry, don't have a soft copy....

rgds
PT

proptrade, Thanks anyway.

i see advfn is a bit more up on this stock and i have posted there for the first time...

rgds
PT

up 7.25% so far today....i hope you guys watching are in!

proptrade,

Topped up on friday,fortunately before the large rise.

Must say I had a good week, last week,
with this (PANR) and FTO.

Have read your posts with interest (from ADVFN),very informative they were to,amongst other informative posters.

If any one is interested I would recomend a visit to the PANR thread on ADVFN site and here is the link:

http://www.advfn.com/cmn/fbb/thread.php3?id=11464188&from=1

thx for the link....

Bought these for the first time today .

they really seem to be in play..

Proptrade,

Thanks for your mention of this on the SEY thread. Sorry if you're feeling lonely over here, but FWIW I think this looks interesting. However, I am fully invested at the moment. Would be interested in any comment you may have to make on BLR, which I think has a lot of potential in the very near future.

Best of luck.
ST.

RNS out today:

Pantheon Resources PLC
09 June 2006

Pantheon Resources Plc

30 Farringdon Street
London
EC4A 4HJ


Padre Island - Rig Released to PI Project Area Operator Prior to Planned
Drilling Programme

Pantheon Resources Plc ('Pantheon') announces that it has been informed by the
Operator of the Padre Island Project Area, ('PI Project Area'), Golden Gate
Petroleum Ltd ('Golden Gate'), that Parker Drilling's rig number 122 was
released on 28 May. The rig is expected to arrive on site late June 2006. The
rig will be on contract to Golden Gate for twelve months with options to extend
for up to a further two years by six month intervals.

Once on location, the rig will commence an active drilling programme on the
Padre Island Joint Venture ('PIJV'). Pantheon expects to be involved in the
drilling of four exploration wells over an 18 month period. The exact timing and
order of the drilling programme remain dependent on the receipt of final
location approvals from the relevant authorities.

Pantheon is participating initially in six prospects as a result of a farm-out
agreement with Golden Gate concluded in April 2006. The prospect inventory
comprises primarily large, high-quality natural gas plays in an under-explored
deep section of the Gulf of Mexico. As a result of this agreement Pantheon will
earn a 25% working interest in each prospect by paying 33.333% of the costs
associated with drilling each prospect up until the point of casing. The
prospects covered by this farm-in are:

Plum Deep, from 9,500 to 15,000 feet;

Manzano Deep, from 10,500 to 16,500 feet;

Murdock, all depths from surface;

Lemonseed, all depths below 9,100 feet;

Wilson, all depths from surface; and

Kingsway, all depths from surface.

These prospects are all covered by 3D seismic. In the view of the Board of
Pantheon, the deep JV of the PI Project Area is a moderate risk (POS 15% to
36%), high reward exploration venture. It offers the potential, if successful,
of major value accretion to the Company and its shareholders.

guys, i this stock i am posting o advfn...my latest post is as follows:

the key paragraph of the report from today from the broker:

The four initial wells (out of six) have a cumalitive EMV of 200p per share on a risked basis and three have individual potential of between 175p and 340p per share unrisked.

last paragraph:

Deeper exploration drilling is high risk and not for the faint hearted (DYOR and play with what you can afford to lose!). However, the upside for Padre Island is impressive for a company the size of Pantheon.

They initiate coverage with a BUY.

My understanding is that the analyst has followed this asset for years so writes the 8 page report with considerable experience.

PLease remember to DYOR DYOR DYOR. I have and am comfortable with my position since i know the company so well but i really do stress only invest what you are prepared to lose. These sort of stocks are the highest risk of all. OK, i feel better now that i am not a ramper....covered all bases!

This company has NO gearing, cash of 9 million and market cap of 16.5 million!!!!!!!

Put simply, the EMV on all 6 of the prospects on a risked basis (ie 27% probability of plum deep, 23% of Manzano Deep etc...) AND allocating 18% as opposed to 25% interest to mitigate any royalty payment to lease owners etc is...US$64 million which works out at 2.37 per share.

On an unrisked basis (where it gets VERY interesting) is just over 10 per share. That is taking the ultra conservative Bcf estimates for each well also.

this move in the price is technical and a function of the sector. as far as i am concerned if you have one "risky" share in your portfolio this has my vote! all you need is ONE of the four largest prospects to come in and you have an ASSET worth between 1.25 and 3.40 - and that is ONE of them!

i will look to add...watch you margins though it may be choppy until the end of July....buy fully paid as i do!

rgds and good luck

PT

PT - lots of buying opportunities in the market, IMO. Thanks for another very good post. Watching and waiting . . . .

Good comment about not buying on margin, too, as things are just a touch volatile out there a present.

Nice RNS out today:

Pantheon Resources Expands in South Texas

* Pantheon expands its natural gas exploration activities in south Texas


* Three prospects to be drilled commencing early July 2006, with another


being evaluated


* This will coincide with higher impact drilling at Padre Island scheduled to


commence in early July


* Estimated total maximum cost outlay for all four prospects of US$ 650,000


net to Pantheon

* Low risk exploration complements the Padre Island drilling programme


* Multiple targets per well improve chance of success


* Further prospects identified on acreage offering significant upside

potential

* Consistent with Pantheon's stated strategy to focus on hydrocarbon

exploration and production onshore or near shore in the Gulf of Mexico


* Good potential for early, tax efficient cash flow generation. Payback per


well projected at less than 12 months


* Operator of venture, Everest Resource Company, is highly experienced in the


region with proven track record

Details of farm-in

The board of Pantheon Resources plc ("Pantheon") announces that it has farmed-into a natural gas exploration venture in Wharton County, south Texas. This venture is operated by the Everest Resource Company ("Everest") which has a long successful history operating in the Texas Gulf Coast area.

The initial obligation covers three prospects which are ready to drill. Pantheon will pay 25% of the drilling costs to earn an 18.75% working interest in Dakota and Mohawk and at the third, Zebu, Pantheon will pay 12.5% to earn 9.375% interest. The terms of this farm-in are similar to those for the deep JV of the Padre Island Project Area ("PI Project Area"). A further farm-in prospect is being evaluated.

The prospects are regarded as small with reserves estimates per well ranging from 0.5 to 4.0 billion cubic feet ("bcf"). The exploration risk is regarded as low, ranging from 50% to 80%. This compares with 15% to 36% for the deep JV of the PI Project Area. Each well has multiple objectives. As not all objectives have been included in the evaluation, this provides additional upside potential. The prospects have been identified using high-quality 3D seismic. This project provides Pantheon with low risk/reward plays to balance the higher risk/reward plays at the PI Project Area.

Drilling programme due to commence in late June with first results expected in early July. The wells are shallow (less than 5,000 feet) leading to short drilling times per well of less than one month. The expected total dry hole cost outlay is around US$400,000 and the successful completed total cost outlay is around US$650,000 for four wells. In the event of success, there is easy access to infrastructure.

Success with any of these exploration wells will lead to numerous additional drilling opportunities within surrounding acreage. There are another 13 prospects that could be pursued in the event of success which would represent a material reserve addition to Pantheon. These are also regarded as low risk with good early cash flow generation potential. These would not be subject to the farm-in terms and hence have a higher value.

Pantheon has an aggressive exploration drilling campaign. It combines a good mixture of low risk/return projects from this project combined with the higher risk/reward projects at Padre Island

Background to Everest

Everest has a long history of generating high quality oil & gas prospects in the onshore trends of coastal Texas where Pantheon intends to build its business. Its expertise is working up prospects and drilling the Wilcox, Frio, and Yegua trends along the Gulf Coast of Texas where infrastructure is already in place and reserves are quickly brought into production. It has a history of successes in all these trends and it intends to build upon that success.

The Everest Companies were founded in Corpus Christi in 1969 by E. A. Durham, II. Mr. Durham and a small group of private investors built their energy exploration and production business as a series of limited partnerships in which Mr. Durham and/or one of his closely held corporations or partnerships served as the general partner.

In accordance with the AIM Rules, the information in this report has been reviewed and signed off by Mr Robert Rosenthal, (BSc Geology, MSc Geology), Technical Director at Pantheon Resources Plc, who has over 30 years relevant experience within the sector.

This is why i am long...excellent management and great deals

Hugh gas find in Texas released in today's RNS, market just released the potental now, sp will rise upwards now the US has woken up. Drilling also continuing in Mexico, another safe part of the world.

TheMaster, I'm afraid I have to take issue with your use of the word "huge" in relation to today's gas find, assuming it is Zebu you are talking about. Zebu is one of a number of gas plays recently farmed into and described in the RNS of 29Jun2006 as "small with reserves estimates per well ranging from 0.5 to 4.0 billion cubic feet ('bcf')." PANR has a 9.375% interest, so even if they have found the 4 billion, it's really not a lot.

I agree though that the prospects for the company could be good given the high probability of success of the current drilling campaigns.

shows the strength on management and the fact that PANR is about to officially have some positive cash flow!