Press Release Navigation

<<< Previous


Next >>>



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

Pan Orient Energy Corp.: Thailand Drilling Update

Sep 10, 2007 - 07:00 ET

CALGARY, ALBERTA--(Marketwire - Sept. 10, 2007) - Pan Orient Energy Corp. (TSX VENTURE:POE) -


L44-H Appraisal Well

L44-H is located approximately 3.25 kilometers north of the producing NS3-D1 well and is the first well located in the central fault compartment of the Na Sanun East ("NSE") structural closure. Success at L44-H would materially enlarge the area of defined hydrocarbons at NSE.

The main volcanic objective was penetrated at a depth of 866 meters and drilled to a total depth of 880 meters, penetrating the uppermost 14.5 meters. Lost circulation, an indicator of good reservoir quality, was encountered at 867 and 879 meters at mud loss rates of 60 barrels per hour in both instances. Free oil at the surface and elevated mud gas readings were observed immediately following the first mud losses at 867 meters.

In addition to main volcanic objective, a 7 meter thick volcanic tuff with good visible porosity and excellent oil shows was observed in combination with mud losses of approximately 60 barrels per hour at a depth of 854 meters.

Test results are anticipated within the next 7 days.

L44G-D1 Appraisal Well

The Aztec #14 rig is currently drilling ahead at 797 meters (TVD) with total depth anticipated to be reached within the next 3 to 5 days.

L44G-D1 is located in the north fault block of the seismically defined Na Sanun East structural closure, approximately 7.4 kilometers north of the producing NS3-D1 well.

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.

41,634,842 common 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
(403) 294-1770


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