Golden Gate's Key Drilling Rig 88 to Hit Bullseye in August

Pantheon Resources has been advised by the Operator, Golden Gate Petroleum Limited, that the Key Drilling Rig # 88 has been delayed arriving on location at the Bullseye Prospect, located in Iberville Parish, Louisiana, until August 1, when drilling will resume.

It is estimated to take approximately 3 days to drill to the primary Miogyp objective.

Pantheon is participating with a 15% working interest prior to back-in rights. Should back-in occur, Pantheon will participate with an 11.25% working interest.