Pan Andean in funding talks

Aim listed Exploration company Pan Andean said it is in talks with US investors to bankroll the drilling of a well at its Danbury Dome leases in Texas.

Irish chairman John Teeling said : "We are in talks with US investors who want to pay the $3m (€2.3m) drilling costs for the 14,000 deep well. In return Pan Andean would get 20% of any profit."