Pan Orient Energy Abandons Thailand's L53-ANC1 Well as Dry Hole

Canada's Pan Orient Energy Corp. reported Monday that the L53-ANC1 exploration well in onshore Concession L53 in Thailand has been plugged and abandoned after failing to encounter commercial hydrocarbons.

Oil shows and elevated mud gas readings were observed while drilling through three separate target sandstone intervals, however these sandstones were indicated to have low permeability (tight) on the basis of open hole logs and pressure measurements. Work is underway incorporating these well results into the regional model and initial interpretations suggest that potential quality reservoir sands may be expected further east into the deeper basin where a series of untested structural closures has been identified on recently acquired 3D seismic data.

The Elite-E01 drilling rig is expected to commence drilling the L53-DC1 ST1 well shortly. The L53-DC1 ST1 appraisal well is targeting an undrilled fault compartment within the boundary of the L53-D East Field, in an area that currently has no reserves assigned to it.


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