Pantheon Resources has issued the following update on Jumonville #1 & #2, located in Iberville Parish, Louisiana, the assets of which Pantheon holds a 11.25% Working Interest.

As reported on June 30, 2009, Jumonville #2 commenced production from the Miogyp sandstone at an initial gross production rate of 750 barrels of oil per day and 250,000 cubic feet of gas per day. The well is currently producing at a gross rate of 600 barrels of oil per day and 350 mcf gas per day through a restricted choke. This augments output from the Jumonville #1 well whose gross production for the quarter ended June 30, 2009 totaled 28,895 bbl of oil and 19,657 mcf of gas. Total gross production from this well since commencement has been 110,533 bbl of oil and 41,080 mcf of gas.

The Jumonville #2 well was brought into immediate commercial production providing a substantial increase to cash flow. Jumonville oil is high quality 40 degrees API gravity oil. Under the current sales contract this yields a US $2 per barrel premium to West Texas Intermediate (WTI).

The Jumonville #2 well has a remaining oil zone to be tested. This is in the Camerina section. This zone provides potential for further upside across the Bullseye prospect.

The Acosta well has been converted into a salt water disposal well. This is to handle the rise in water production from the Miogyp interval. The increase in water output is a normal attribute of this water-driven formation. Prior to this revised use of the Acosta well, the cost of water disposal at Jumonville #1 was over US $4 per barrel. Accordingly there is a material reduction in operating costs to the joint venture resulting from this change. This is currently estimated at over US $200,000 per month.

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