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.

Oh well, darn it!

It's gone up again.

I may as well sit on my spare cash then as I am nicely in the blue.

What a life! ;-)))

I halved my holding to grab a profit at 22p.

Once again I sold too soon - will I ever learn. Still, at the end of his life, one of the Rothschilds said " I always sold too soon" so I'm in good company. It's apparently one of the most common small investor mistakes. We're fear driven when we should be ice cold, because we can't face a big loss.

If and when PCI goes up, I must remember PRE.

Money in the Bank on both counts!


However never coun t the chickens............etc.

I think you did right, but hold the other half.

Does any one know of a site which is charting the bid and the offer on the same graph? Could be another useful bit of info.

Well, as suggested it looks like this is holding at 22p or thereabouts.

Now where is the next bit of news????????

They said within days the target depth will be reached so any time will do.

Obviously got to wait till after the weekend now.

And I said that so I could be wrong!

Midweek-ish is the word. Which midweek was not specified.


Due for a miracle!

No miralces.

Believe!

shows 1.75p up!

Did I miss something?

No RNS that I can see, maybe the word is that they hit gas/oil at the target depth in Bolivia?

That's more like it, dropping back!

The Independent

The Outlook Column:

*Hope of second time lucky for Bolivian bonanza - Pan Andean Resources (LSE: PRE.L - news) a long-term investment.

It can't be long to a DD announcement surely? I'm back in with a shedful, so very interested!

Both the DD and the Bolivian well are overdue announcements.

Any time for both in my estimation.

Looks like the price is about to rise again.

And so it is...............

Before the news????????

Pasted from the SEY thread. Sorry about the food comments, they are a load or gourmets over there!

;-))))

Just come in from dog walking, dropped into SOF and got half price fillet steak, so it will be a flash fry served with mushrooms and onions, oh and the buttered mash with 2 veg.

Got to be optomistic with this, but I am convinced that SEY and PRE still have tons of upside.

PRE will come in sooner than SEY imho, any day, in fact why not today?

Hello Mr Teeling, get your biro out....................

Morning all.


This one is dying to take off.

Patience is now wearing thin!

Look at the news SWW!

Looking, must have missed it!