Pan Orient Energy Updates on Operations in Thailand, Indonesia

Canada's oil and gas exploration and production company Pan Orient Energy Corp. (Pan Orient or the Corporation) provided Wednesday an update on operations in Thailand and Indonesia.

Concession L53 Onshore Thailand (Pan Orient Operator and 100 Percent Working Interest)

Thailand Oil Production

The L53-G field production environmental impact assessment (EIA) was approved by the Government of Thailand Feb. 19. The three L53-G wells that had been shut-in awaiting EIA approval, commenced production shortly thereafter. Total L53 Concession production is currently 1,112 barrels of oil per day (bopd) and has averaged 1,118 bopd since Feb. 20, the first day all the L53-G wells had been on production for a full 24 hour period.

L53A Central Exploration Well

The L53-A Central high impact exploration well is currently setting casing at a depth of 738 feet (225 meters) and is anticipated to reach total depth in approximately 10 days.

Indonesia Operations

In response to the Jan. 31 date for farm-in proposals to be submitted for the Batu Gajah and East Jabung Production Sharing Contracts (PSCs), Pan Orient has received requests from companies seeking either a) a timeline extension to evaluate the recently completed 2D seismic in East Jabung and 3D seismic processing just completed in Batu Gajah PSC, or b) received proposals conditional upon final review of this recently acquired seismic data. In order to facilitate these requests, Pan Orient has extended the timeline with respect to the receipt of proposals to March 31 for both Batu Gajah and East Jabung PSCs. In addition, as a number of companies have also been evaluating the Citarum PSC, the Feb. 28 proposal submission date for Citarum PSC has also been extended to March 31 in order to facilitate proposals which include multiple PSC's.


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