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Not for publication, distribution or release in the US, Canada, Japan or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

prop - I am glad I did not come in.


Good luck but I think this is in a bit of trouble now.

cheers buddy...c'est la vie in this sector. I still own 3% of the company so it is a bit costly!

Rgds
PT

This is looking dire prop.

Are you still in?

I see this mornings note about the lapse of licenses as a disaster.

http://moneyam.uk-wire.com/cgi-bin/articles/200703230745355769T.html

Where does it go from here?

Chart for PANR

Don't think so............

The white candle is because of an update by GGP, not repeated here by PANR, they seem to be learning a lesson fromthe over bullisj Aussies.

The pudding is yet to be tested!

I think this will move now.
-------------------------------------

Pantheon Resources says initial test results on Wilson prospect successful
AFX


LONDON (Thomson Financial) - Pantheon Resources says initial test results from the first zone in its Wilson well on Padre Island were very successful.

Pantheon says the test resulted in a peak flow of 3.3 million cubic feet of natural gas through a 10/64 inch choke.

The company said a further three selected zones are to be tested over the coming weeks, and if similar results are obtained it is possible the company will exceed its pre-drill reserve estimate of 21 billion cubic feet.

Pantheon's Chairman, Sue Graham said: 'this successful initial test at Wilson represents a major and material event for a small company like Pantheon and builds on the exploratory success achieved at its Wharton Project'.



tf.TFN-Europe_newsdesk@thomson.com

ejp

Move, it certainly did. Well done to anyone who's in!

This from the other side PANR up 84% today to SER

Still, the fact remains JJ that PANR has risen 77% to a market cap of 12m on news of a net 12bpd and 1.1mbbls equivalent compared to SER's 150bpd and 7.6mbbls. Those are the cold, hard figures.

(SER) NEXT

market report:

"AIM tiddler Pantheon Resources was in demand as it released news of a large gas discovery at its U.S operation.Talk the find could be worth several times its current value had dealers piling into the stock "

Fantastic news...Strong Buy!!!

Yes! This is a BUY BUY BUY.

Posted this on my TA thread tonight, but in the spirit of a good ramp, have posted it on here as well :)) Well it is the PANR thread afterall :))

Something different tonight; I have mentioned previously I'm not a great fan of flags, pennants etc, but for a bit of interest thought I would mention the 'Cup with Handle' formation. I have to be honest though and say that it's not only interest but self-interest! The reason I have spotted this is that I do hold shares in PANR. Here's the criteria:

Cup with Handle Bullish Chart Pattern

A Cup with Handle is considered to be a bullish signal.

Description

Cups with Handles are similar in appearance to Rounded Bottoms. Like rounded bottoms, the pattern includes an elongated U-shape. However, the pattern also includes a short period of consolidation of 1-2 weeks in duration, which tends to be downtrending. The pattern is similar in appearance to a coffee cup with a right-side handle, and indicates the potential for an uptrend.

Important Characteristics

Following are important characteristic to look for in a Cup and Handle.

Shape

The cup always precedes the handle. As the cup develops, the price pattern follows a gradual bowl shape. There should be an obvious bottom to the bowl; a v-shaped turn is not a good indicator.

The depth of the cup indicates the potential for a handle and subsequent breakout to develop. The cup should be fairly shallow.

The handle tends to be down sloping, and indicates a period of consolidation. Consolidation occurs when the price seems to bounce between an upper and lower price limit. You can track the down sloping angle of the handle by drawing trendlines across the upper and lower price limits. If the price ascends outside of the trendlines, then it has the potential for breakout. If the price ascends beyond the upper, right side of the cup, then the pattern is confirmed, particularly if it is accompanied with a sharp increase in volume.

Volume

Volume tends to parallel the price pattern. Consequently, during the cup formation, as price descends, volume tends to decrease. Following a period of relative inactivity (at the bottom of the cup), the price pattern starts an upward turn and volume tends to increase.

During the handle formation, the volume decreases. However, you will notice an increase in volume when the price breaks out beyond the right side of the cup.

Duration of the Cup and Handle

Rounded Bottoms are long-term patterns. Martin J. Pring identifies that the pattern can occur over a period of about 3 weeks, but can also be observed over several years.

Trading Considerations

Duration of the Pattern

Like Rounded Bottoms, the Cup with Handle is a long-term pattern. According to O'Neil, the cup duration is between 7 to 65 weeks. According to Gregory Khun, the cup "is usually three to six months in duration but can be as long as 12 months during bear markets or as short as seven weeks during bull markets." The handle usually develops in 1-2 weeks.

Target Price

Understandably, investors like to buy at the lowest possible price. Ideally, investors would buy at the bottom of the cup formation. However, by the time the handle formation begins to develop, investors must gauge their level of risk. There is no surefire way to predict when the lowest point will occur, and there is a possibility that the pattern will fail, and breakout in a downtrend.

Some technical analysts believe that the best time to buy is after the handle begins to ascend. According to Rick Martinelli and Barry Hyman, O'Neil "recommends buying stocks only as they break out of the cup-with-handle to new highs". Khun suggests a more aggressive method of buying stocks. He suggests that "experienced traders can buy in increments in anticipation of a breakout, but it's tricky."

The handle will often slope downwards initially, however, watch for the price to breakout beyond the price at the right side of the cup. The depth of the cup from the right side is an indicator for the potential price increase. However, Bulkowski notes, "Many cups fail after rising only 10% to 15%. Be sure to use stop-loss orders to limit losses or to maximize gains".

Criteria that Supports

Volume

Volume tends to parallel the price formation. During the handle formation, watch for the price and volume to increase. An increase in volume is an indication that the pattern has potential to continue the uptrend, and ascend beyond the right side of the cup.

Criteria that Refutes

V-shape

There are v-shaped patterns that yield successful returns, however, during the cup formation, watch for a rounded shape because the rounded shape provides a more reliable and predictable formation.

Down sloping handles

The handle will tend to be down sloping, however the following criteria indicate a potential failure:

The handle should not drop below the top half of the cup formation
The price should not drop below the 200 day Moving Average

And here's the chart:



Seems to fit the criteria quite well, although the price has been below the 200MA throughout, so not too sure how applicable that is, might negate the whole thing.
The blue dashed line represents the breakout level - 75p.
I have also drawn two trendlines; the downtrend resistance is drawn from the high of last year, which the SP broke through this week and then acted as support during the first small pull back - a good sign.

Even if the formation fails there is also good support provided by the trendline drawn from May.

As always no advice intended, DYOR etc etc and I shall wish myself good luck for the next weeks or so :))

pth

Whatever the outcome of this cup and handle business it's worth noting that there are only 15,552,329 shares in issue, over 10 million of these are tied up as substantial notifiable holdings leaving just a third as 'free float'. No wonder it's somewhat illiquid and prone to sharp moves on relatively little buying or selling.

In comparison to other gas and oil companies with a similar market cap of 10m, PANR have an awful lot more going on, are producing and generating income.

It's worth taking note of the information flow emanating from the company.

Decide for yourself if they are fairly priced, under or over valued.

pth

Oh and Directors hold a further 2.5 million leaving only 3 million or so available to the average punter :)

Media coment, click HERE

The hook-up of the wilson well to the sales pipeline should be imminent . This WILL INCREASE THE INCOME FROM GAS SALES BY 10X THE CURRENT AMOUNT!

A positive snippet in this weeks issue of the shares magazine.

On 21st nov. institutions oversubscibed for near 1m of new shares @60p per share.This company is producing gas, has enough cash in hand to fund their share of several new wells to be drilled this year, operates in the west coast of america[a politically safe environment] has just apponted a new ceo who has plans to substantially increase the size of the company and is only capitalised at 6M.Four wells which they are involved in should be drilled during the first half of 2008.If some of these produce positive resuls the share price could go up dramatically,there is very little downside because their share of the Wilson discovery is worth more than 40p per share.

Currently 26.5p...

Pantheon says Petro Hunt recommends Nottoway prospect be plugged, abandoned - AFX

LONDON (Thomson Financial) - Pantheon Resources PLC said Petro Hunt LLC, the operator and majority partner in the Fay Weil Ross et al #1 well on the Nottoway prospect in South Louisiana, has recommended that the mine be plugged and abandoned after the drill pipe got stuck again.

Petro Hunt now intends to move the rig to the Point Clair prospect near Nottoway Dome, which is a lower risk and shallower target.

The operator will re-evaluate the drilling programme at Nottoway Dome before making a recommendation on how to proceed.

Although it was disappoing news that the Fay Weil Ross well was to be abandoned, it has provided an excellent buying opportunity. Finance is in place for several more wells to be drilled this year.The value of the Wilson discovery more than covers the current capitilisation. The current share price does not reflect in any way the value of having Jay Cheatham [the former President of Arco a 9billion oil and gas company ]with his knowledge and contacts. I think the share price is just as likely to go up when the plan which he and the board are developing to make the company grow significantly is anounced as it will be if we get positive news from new wells.