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

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

Aug 27, 2007 - 07:00 ET

CALGARY, ALBERTA--(Marketwire - Aug. 27, 2007) - Pan Orient Energy Corp. (TSX VENTURE:POE) -


NS3-D1 Appraisal Well

NS3-D1 has been tested at a maximum rate of 337 bbl/d of light, 35 degree API, crude with a decreasing water cut (less than 1%) and gas oil ratio below 200 scf/bbl. The well continues to clean up with production rates equipment constrained. A larger beam pump is currently being installed and further production test results will be reported shortly, once a stabilised rate is achieved.

These NS-3D1 initial test results indicate a successful appraisal of the southern lobe of the Na Sanun East ("NSE") oil field, confirming the POE-9 discovery well announced in January 2007. NS3-D1 penetrated the top 20 meters of the first target volcanic reservoir interval at a true vertical depth of 879 meters, proving an approximately 78 meter thick oil column in the NSE structure. The NSE field oil water contact has not yet been encountered and future appraisal wells may further extend the proven oil column down dip. Two wells, L44-H and L44G-D1 are currently appraising separate fault compartments of the NSE structure, north and up dip of NS3-D1.

L44-H Appraisal Well

The Aztec #7 rig is currently drilling ahead at a depth of 410 meters on NSE appraisal well L44-H, located approximately 3.25 kilometers north of NS3-D1.

L44G-D1 Appraisal Well

The Aztec rig #14 rig is currently drilling ahead at 100 meters towards a subsurface target 600 meters northwest and approximately 120 meters up dip of the L44-G appraisal well that was drilled to total depth, logged and suspended awaiting testing, approximately 10 days ago.

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