Pan Orient Drills Ahead at Sumatra Well

Pan Orient announced that Tuba Obi Utara-1, the first of three back to back high impact exploration wells located in the Batu Gajah PSC onshore Sumatra, is currently drilling ahead towards a planned total depth of approximately 1,400 meters. This well is targeting a combined un-risked best estimate prospective resource of 114 million barrels of oil and 429 billion cubic feet of natural gas. The Tuba Obi Utara-1 well is targeting the primary Upper and Lower Talang Akar formation sandstone objectives and the secondary Air Benakat and Gumai formation sandstone objectives between the depths of 300 to 1,400 meters. Total depth is anticipated to be reached in approximately 15 days, at which time the rig will be moved to the Betano-1 location to be followed by the SE Tiung-1 location. Testing, if technically justified by well results, will likely commence between the drilling of the second and third wells.