Dunn Deep Well to be Completed as a Gas Producer

Pantheon Resources, says that the La Playa Mid Frio Unit #2 well (Dunn Deep, previously known as La Playa Deep #2) will be completed as a natural gas producer. The Company has a 7.5% working interest in Dunn Deep.

Start-up is currently estimated to occur within two weeks. An early hook-up to the sales grid is achievable, as the well has been drilled from an existing site. Production data will be released when available.

The Dunn Deep well reached its planned total depth of 10,542 feet measured depth.

Electric logs were run. Net pay of 20 feet was encountered within a 50 feet gross interval in the main objective. No flow testing has been undertaken.

Although located on Padre Island, Dunn Deep is separate from the Padre Island Joint Venture. It should also be recognised that Dunn Deep is an appraisal/development of La Playa Mid-Frio Unit #1 ("La Playa Deep). However Pantheon does not have an interest in La Playa Deep #1. The operator is BNP, a private Texas-based company.

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