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NEWS RELEASE TRANSMITTED BY Marketwire

FOR: PAN ORIENT ENERGY CORP.

TSX VENTURE SYMBOL: POE - | View Quote |  View Chart |  View Financials | 

Pan Orient Announces Private Placement Allocated

Jul 06, 2007 - 14:05 ET

CALGARY, ALBERTA--(Marketwire - July 6, 2007) -

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICES.

Further to yesterdays news release, Pan Orient Energy Corp. ("Pan Orient") (TSX VENTURE:POE) is pleased to report that its announced financing has been fully allocated. The company will issue, by way of a non-brokered private placement, 1.5 million common shares at $4.25 per share, for gross proceeds of $6,375,000 Closing of the offering is expected to occur on or about July 13, 2007 and is subject to the receipt of necessary regulatory approvals. The common shares issued will be subject to a four-month hold period from the date of closing.

The net proceeds from the offering will be used by Pan Orient to accelerate exploration on the Company's 100% owned concession L53/48, located onshore Thailand, and new venture opportunities in Thailand, India and Indonesia.

Pan Orient is a Calgary, Alberta based oil and gas exploration and production company with operations currently located onshore Thailand and in Western Canada.

The common shares of Pan Orient have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S." Securities Act") or any state securities laws and may not be offered or sold in the United States or to any U.S. person except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws. The common shares may also be offered on a private placement basis to institutional investors in the United Kingdom.

40,134,842 common shares issued.


The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Pan Orient Energy Corp.
Jeff Chisholm
President and CEO
(403) 294-1770

or

Pan Orient Energy Corp.
Jason Bednar
Vice President Finance and CFO
(403) 294-1770
Email: jason@panorient.ca