Pan Orient Energy Corp. reported that the NSE-A4 appraisal well was drilled to a total measured depth of 923 meters (732.6 m true vertical depth), penetrating the top of the upper volcanic target at a depth of 720.5 meters TVD at a location approximately 350 meters northeast of the NSE-A1 surface location. A 35 meter thick (measured thickness) upper volcanic section was penetrated and, as indicated by the loss of over 23,000 barrels of drilling fluid, was highly fractured. Testing is anticipated to be completed within the 10 days.
L44-C appraisal well (60% Working Interest and Operator)
The L44-C vertical appraisal well was drilled to a depth of 1210 meters through multizone objectives within the F and G sandstones, and a deeper 210 meter thick WB-1 volcanic at a location 1.15 kilometers north of the POE-6 oil discovery and within the POE-6 fault compartment. Oil shows and elevated mud gas readings were observed at a number of stratigraphic levels while drilling and lost circulation was observed over two intervals within the WB-1 deep volcanic. Testing is currently underway over the first of four potential zones and is anticipated to be completed within the next 10 to 14 days.
NSE-B1 horizontal appraisal well (60% Working Interest and Operator)
The NSE-B1 horizontal appraisal well is currently drilling ahead at a depth of approximately 740 metres toward the top of the main volcanic reservoir objective at a subsurface location approximately 100 metres south of the new NSE-B drilling pad, within the NSE central fault compartment. Drilling is anticipated to be completed within approximately 10 days.
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