A Pantheon shareholder has apparantly received the following communication from them in response to a email suggesting the latest news announcement was misleading. It reads:-
I am sorry if you feel misled but I am afraid that AFX did not publish the entire content of the RNS. The latter stated that it was the shallowest zone which was unlikely to contain commercial hydrocarbons. The operator is now drilling onto the second core point to take a core and analyse it. This will be taken in the 800ft gross zone. The JV remains hopeful but we continue to caution that commerciality depends on the results of the entire testing programme.
AFX is a UK news service which stated that "Pantheon Res has announced that its well at Plum Deep is unlikely to proven commercial.
It seems the content of the news announcement both in the UK and Aus has been misinterprited. So far neither company has stated that Plum Deep will not be commercial.
The reply from Pantheon seems to confirm that all is still to play for.
GGP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
