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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 Energy Corp.: L53-D East Field Production & Drilling EIA's Approved

Sep 04, 2012 - 08:30 ET

CALGARY, ALBERTA--(Marketwire - Sept. 4, 2012) - Pan Orient Energy Corp. (TSX VENTURE:POE) -

THAILAND OPERATIONS UPDATE

Concession L53 (Pan Orient Operator and 100% Working Interest)

Pan Orient Energy Corp. ("Pan Orient" or the "Corporation") is pleased to announce the receipt of approval for the L53-D East production environmental impact assessment ("EIA") in addition to approval for four surface drilling pads, with up to a maximum of 14 well locations.

Onshore Thailand Concession L53 is a 100% owned and operated asset with current production of approximately 1,150 barrels of oil per day with production from the L53-A field and from the not fully developed oil discovery at L53-D East. Significant future exploration potential also exists on the basis of approximately 100 square kilometers of recently acquired 3D seismic, and an additional 3D seismic program of approximately 100 square kilometers expected to be acquired in late 2012.

Development and exploration drilling is anticipated to commence in December 2012.

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.

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