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Not for publication, distribution or release in the US, Canada, Japan or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

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.

Personally, I'm happy to remain a long term holder, although obviously disappointed with the latest duster. I like the way PANR do their business and it will take only one good find for the SP to recover. They are also producing and generating income, so it's not all gloom and doom. You have to accept that when investing in exploration companies it can be a rocky ride, if not a total disaster; perhaps investing should be changed to betting?

pth

Personally I am happy never to have held these.

Looks to be a looser.

Dud after dud.

Nearly all the best fields in the deep south have already been found according to my information which allows for the odd one or two that many have been missed, but come on, who is kidding who here?

That's ok then, you're happy and I'm happy. 'Dud after dud' does that include Wilson? Guess not, that wasn't a dud, which as geoffsh points out more than underwrites the current capitalisation. The markets will always react badly to a duster and dependant on the situation can offer a buying opportunity before the dust(er) has settled.

Pantheon Resources says partner Petro Hunt to abandon Point Clair Well 1 - AFX

LONDON (Thomson Financial) - UK small cap Pantheon Resources Plc. said its partner Petro Hunt LLC has decided to plug and abandon Well 1 at the Point Clair prospect, in Iberville Parish, Louisiana, after finding the well was not commercially productive.

Pantheon Resources is an oil and gas exploration company active in the Gulf of Mexico. Petro Hunt is the operator of the Point Clair well, which is part of Pantheon's high impact suite of wells in South Louisiana.

Bullseye, also located in Iberville Parish, will be the next well to spud, later this month, Pantheon said.

TFN.newsdesk@thomson.com

ypv/cmr

Well, that's fooked it, three duds on the bounce from areas thought to be commercial no-brainers. Not at all happy now, so into the bottom draw they go. The only silver lining is the small market cap / shares in issue and at least are revenue earning. Unless the next well comes up trumps and even if it does a further return to the market for funds is definitely on the cards. Should settle down between 5-10p, Ho hum :(

Its gone now 2/3p is all they are worth.
the damage is done theres no way back for shareholders.

What did I tell you!

I even gave it to you before they did.

Wilson, yeah but is it worth it?

Not for me it ain't.

Bad luck pt, your a nice guy who don't desrve it.

down 10% today.

Poo, it was a gamble that didn't come off, it's not the end of the world and the shares are paid for, so not as if I have to worry about leveraged margin calls. I'll forget about them for a while now.

Mitzy, you're not related to Hlyeo are you? You have a knack for stating the blindingly obvious. Are you going to post the percentage share movement every day?

Hi pt...

I have no interest in PAN it was always a risky share and certain people have hyped it out of all recognition.

Any thoughts on this one .