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.

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!

Pan Andean Resources finds gas in El Dorado X-1004 well in Bolivia
AFX


LONDON (AFX) - Pan Andean Resources PLC said gas shows have been found in the El Dorado X-1004 exploratory well in Bolivia and that full production testing will begin.

The company also noted that French oil group Total SA has made a major gas discovery on Incahuasi, a neighbouring block to Monteagudo in which Pan Andean has a 30 pct interest. The discovery may contain up to 12 trillion cubic feet of gas. The find was made in the lower Devonian Huamampampa sands which are also present in the Monteagudo block.

Pan Andean and its partners Repsol YPF SA and Petrobras will drill the Huamampampa when market conditions are appropriate, it said, adding that the positive results at Incahuasi encouraged its optimism.

Pan Andean also said the Black Stone Ivory well in Danbury Dome, Texas is on schedule.

newsdesk@afxnews.com

jc

Not under thier name, which is why I missed it!

;-))

Thought so!

This is a different area to that where they had significant find a few weeks ago, so we are still waiting for that.

This is excellent though, thats 2 big finds in a short space of time.

Good morning everyone! Looks like patience is being rewarded SWW. We appear to be off to a flying start!

Way to go!!

This one has similar prospects to SEY and I have a similar target in mind and they have a smaller cap!

Well up 9% bt 08.15, not exactly racing but the rise is nice!

This will need the news from the other well to maintain this price, otherwise I expect it to slip back.

Not usually pessimistic, but seen it many times now.

I hate being right!

Incredible and unwarranted rop after this news!

The find at El Dorado is huge, as is the Total find.

The market there and ready so wher is the price in the share ??

No doubt this will all be reflected come the finals, so it may be worth a few bob extra till then imho of course.

But then again, how often am I wrong?

SWW
When are the finals? I'm quite new to this share.

For all you PRE holders, from UK-analyst.com:

"Also upbeat after a gas find were shares in Pan-Andean Resources. The company said that gas shows had been found at its El Dorado X-1004 test site in Bolivia and full production testing would now begin. It said that Total has also made a major gas discovery on Incahuasi, a neighbouring block to Monteagudo in which Pan Andean has a 30% interest. The discovery may contain up to 12 trillion cubic feet of gas, the company added. The find was made in the lower Devonian Huamampampa sands which are also present in the Monteagudo block. The shares added 0.5p to 23.25p."