Press Release Navigation

<<< Previous


Next >>>



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

Pan Orient Energy Corp.: Bo Rang North Production License Approved

Dec 21, 2009 - 08:32 ET

CALGARY, ALBERTA--(Marketwire - Dec. 21, 2009) -

L44 Concession - Onshore Thailand

Pan Orient Energy (TSX VENTURE:POE) is pleased to announce that the Corporation has been informed by the Thailand Department of Mineral Fuels ("DMF") that the Bo Rang North ("BRN") production license has been approved. The BRN production license is approximately 39 square kilometres in total area and encompasses the L44-W, Bo Rang "A", Bo Rang "B" and NSE-F1 oil discoveries announced earlier this year. The production period is for 20 years and commences immediately.

Pan Orient is also pleased to announce that the corporation has received environmental approval from the Government of Thailand for 18 surface drilling locations with up to three wells to be drilled from each pad (for a maximum of 54 locations) covering the L44-W, Bo Rang "A", Bo Rang "B" and the NSE-F1 field areas. Construction will start in early January 2010 with drilling likely to commence later that same month.

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