Pan Orient management is very encouraged by these initial indications of reservoir development and hydrocarbons in the top 41 meters of the main target zone at NS-4. Due to the severity of the lost circulation, the company is assessing the possibility of setting casing and immediately testing the well.
The Pan Orient board of directors has made the decision to cancel the grant of stock options announced on May 11, 2007, due to the timing of the subsequent events defined above.
Pan Orient is a Calgary-based oil and gas exploration and production company with operations currently located onshore Thailand and in Western Canada.
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