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

Pan Orient Energy Corp.: Thailand Operations Update

May 19, 2010 - 09:19 ET

CALGARY, ALBERTA--(Marketwire - May 19, 2010) -

Pan Orient Energy Corp. ("Pan Orient") (TSX VENTURE:POE) provided an update on the current situation in Thailand.

At 4:10 p.m. Bangkok time (3:10 a.m. Calgary local time) Pan Orient received a request from PTT, the Thailand national oil company, to curtail crude oil deliveries to the PTT operated Bangkok refinery for the next 24 hours. This request by PTT was a precautionary measure instituted in response to recent events in the Thai capital, Bangkok. Upon receipt of notice from PTT, Pan Orient staff immediately instituted a reduction in field production rates to 5,600 BOPD in order to have the option to continue producing for a three to four day period into approximately 24,000 barrels of onsite oil storage capacity.

Pan Orient has experienced no security related issues at the company's production site, located approximately 260 kilometers north of Bangkok. The company is also not aware of any security related issues at the PTT operated Bangkok refinery, other than this 24 hour production curtailment request.

Pan Orient has no way of knowing the length of time the present situation will continue and has been informed by PTT that Pan Orient will be updated every 24 hours on the status of deliveries to the Bangkok refinery. As detailed above, production operations will continue at reduced rates into existing tank storage at the Wichian Buri production site.

Pan Orient will provide immediate updates to the current situation as further information becomes available or the company becomes aware of any changes to the current situation.

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

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.
Bill Ostlund
Vice President Finance and CFO
(403) 294-1770