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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 Increases Private Placement to $32,025,000

Oct 29, 2007 - 10:42 ET

CALGARY, ALBERTA--(Marketwire - Oct. 29, 2007) -

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

Pan Orient Energy Corp. ("Pan Orient") (TSX VENTURE:POE) is pleased to announce that in response to strong market demand it is increasing the size of its previously announced equity financing by an additional 500,000 common shares at $9.15 for additional gross proceeds of $4,575,000. In total, Pan Orient has agreed to issue 3,500,000 common shares at $9.15 for gross proceeds of $32,025,000 on a bought deal basis (the "Offering") pursuant to a financing agreement entered into with an underwriting syndicate co-led by Orion Securities Inc. and Wellington West Capital Markets Inc., and including Tristone Capital Inc.

Closing of the Offering is scheduled for November 14, 2007. The common shares issued will be subject to a four-month hold period from the date of closing.

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.

41,634,842 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