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

Pan Orient Energy Corp.: Thailand NS3-D1 Final Test Results

Sep 04, 2007 - 07:15 ET

CALGARY, ALBERTA--(Marketwire - Sept. 4, 2007) - Pan Orient Energy Corp. (TSX VENTURE:POE) -


NS3-D1 Appraisal Well

NS3-D1 has been put on production at a sustained, stabilised rate of approximately 434 bbl/d, with a water cut varying between 0.2% and 0.47%, as the well continues in the final stage of cleanup. This stabilised rate is a significant improvement over the 337 bbl/d maximum rate reported on August 27 that had been achieved using a smaller, surface beam pump. NS3-D1 and the original POE-9 discovery well are located in the south fault block of the seismically defined Na Sanun East structural closure, where the oil water contact has yet to be encountered.

L44-H Appraisal Well

The Aztec #7 rig is currently cutting core at a depth of 837 meters after encountering oil shows while drilling the top 1 meter of the primary volcanic objective. L44-H is located approximately 3.25 kilometers north of NS3-D1 and located in the central fault block of the seismically defined Na Sanun East structural closure.

L44G-D1 Appraisal Well

The Aztec #14 rig is currently drilling out the intermediate casing shoe at depth of 610 meters TVD after logging and setting the intermediate 9 5/8" casing. The L44G-D1 appraisal well is located approximately 7.4 kms north of NS3-D1. Intermediate logging indicates an unexpected, 79 meter thick volcanic from 531 to 610 meters TVD that exhibited high mud gas readings, oil shows and 17.5 bbl/hr mud losses while being drilled. The main, deeper, volcanic objective encountered in the offsetting L44-G vertical well, 600 meters southeast, is yet to be encountered. Total depth is anticipated to be reached within the next 7 to 10 days. L44G-D1 is located in the north fault block of the seismically defined Na Sanun East structural closure.

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