Pantheon Resources - US Gas Play

Someone said LaPlaya was no longer producing - That is incorrect - It certainly is, along with Dunn Peach.

This is only one zone and a small one at that in this current well ie 5%.

LaPlaya Deep is producing 4.5mmcf/d. There were a number of zones in this well - a few failed to produce any gas and also had problems under Frac at the time. At least one zone was successful after a number of unsuccessful zones, but this is the current production rate almost 2 years later and now a firm producer.

Dun Peach is also producing 1.9mmcf/d.

Both these wells also produce quantities of oil.


The fact is, this is still only a shallow zone possibly of no more than 50ft.

It states that sands are thin - this is again as expected as it was highlighted in the IPO doc and pre-drill.

Certainly there will be volatitlity from those trading in and out and who may not be able to stomach the first news, from the first Padre Island well out of a total of six to drill with multiple zones.

Traders/Speculators may run but i still think the serious investors who follow this company will wait for more than just one shallow zone - ie 5% so far tested of 1,000ft and further wells in the pipeline. Im taking heart from similar problems at LaPlaya deep almost 2 years ago.

Imho/dyor etc....just my take on things but happy enough that they feel confident to carry out testing of three of four zones. (one done).