pantheons annual results., page-2

· Vision Gas Resources LLC's (the "operator") discussions with other parties relating to a possible restructuring of the Tyler County JV were held-up while the recent geological study was concluded. These discussions have now resumed.



· The operator continues to advise that drilling may commence in 2012. However first quarter 2013 appears more probable.



· Macroeconomic conditions have now improved, with natural gas prices rebounding while rig rates and drilling costs have declined materially.

Looks like we might see some drilling soon but who knows??

Everything seems to get quiet around this time of year so we'll have to see??

Good to see the Vision Gas MD will be attending Pantheons AGM to report on the progress of the Woodbine play and answer questions.

We might actually get some answers??

It bolstered Pantheon's SP overnight anyway!