The Board of Pantheon Resources is pleased to provide the following operational update in respect of the VOS#1 well, Tyler County, onshore East Texas:

Highlights

Drilling and logging operations on the VOS#1 well have been successfully concluded
VOS#1 is being completed as a vertical well and flow testing will occur using a lower cost workover rig due to be taken on contract shortly
Data from electronic logs indicate the presence of a potentially significant reservoir in the Eagle Ford/Woodbine sandstone
The significance of these results will not be known until flow testing operations have been completed

Pantheon confirms that the JV has drilled the VOS#1 well, Tyler County, onshore East Texas, to a total depth of c.15,400 feet and has decided to complete it as a vertical well. Encouragingly, data from electronic logs indicate the presence of a potentially significant reservoir in the Eagle Ford/Woodbine sandstone. The Board stresses however that the significance of these results will not be known until flow testing operations have been completed.

Tags: Pantheon Resources