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

Pan Orient Energy Corp.: Thailand Drilling Update

Jun 25, 2007 - 07:00 ET

Na Sanun-1RD Appraisal Well

CALGARY, ALBERTA--(Marketwire - June 25, 2007) - Pan Orient Energy Corp. (TSX VENTURE:POE) -


Na Sanun-1RD ("NS-1RD"), located 16 meters northeast of the original Na Sanun-1 well location (which was drilled in 1994 by a previous operator), has been drilled to a total depth of 990 meters. The top 30 meters of the first volcanic reservoir was penetrated with live oil observed at surface during the drilling of this section. The setting of a 7" casing string just above this target zone allowed mud weights to be significantly reduced in comparison to prior wells (8.7 ppg versus 10.5 ppg) and appears to have solved the lost circulation issues encountered in earlier wells. NS-1RD has been completed "bare foot" with no casing in the prospective zone and testing is anticipated to commence shortly.

The Aztec #7 rig is currently rigging up on location L33-D, in the south west corner of Pan Orient's northern concession L33/43. L33-D is an exploration well that must be drilled prior to July 11, 2007 in order to fulfill L33 concession work program obligations. The Company's second rig, the Aztec rig #14, is currently on location L44-G undergoing the final stages of refurbishment that are anticipated to take an additional two to three weeks. L44-G is located 7.3 kms north of Pan Orient's POE-9 discovery well located on the Na Sanun East oil field structure.

The current L44 concession gross oil production is approximately 1,400 barrels of oil per day (840 barrels of oil per day net to Pan Orient). Further production gains are anticipated with the installation of a new tubing pump on POE-9 and an ongoing multi-rig exploration and appraisal drilling campaign that will include an additional 24 wells through the remainder of 2007.

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

This news release contains forward-looking information. Forward-looking information is generally identifiable by the terminology used, such as "expect", "believe", "estimate", "should", "anticipate" and "potential" or other similar wording. Forward-looking information in this news release includes, but is not limited to, references to: well drilling programs and drilling plans, estimates of reserves and potentially recoverable resources, and information on future production and project start-ups. By their very nature, the forward-looking statements contained in this news release require Pan Orient and its management to make assumptions that may not materialize or that may not be accurate. The forward-looking information contained in this news release is subject to known and unknown risks and uncertainties and other factors, which could cause actual results, expectations, achievements or performance to differ materially, including without limitation: imprecision of reserve estimates and estimates of recoverable quantities of oil, changes in project schedules, operating and reservoir performance, the effects of weather and climate change, the results of exploration and development drilling and related activities, demand for oil and gas, commercial negotiations, other technical and economic factors or revisions and other factors, many of which are beyond the control of Pan Orient. Although Pan Orient believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct.

40,134,842 shares issued

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. The TSX Venture Exchange has not reviewed and 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


Pan Orient Energy Corp.
Jason Bednar
Vice President Finance and CFO
(403) 294-1770