Pan Orient Energy Corp. ("Pan Orient" or the "Corporation") (TSX VENTURE:POE) is pleased to provide an update on operations in Thailand, Indonesia and Canada.
Concession L53 Onshore Thailand (Pan Orient Operator and 100% Working Interest)
Thailand Oil Production
Oil sales averaged 1,058 BOPD in November and 883 BOPD over the past 30 days reflecting the shut-in of the 410 BOPD L53-G2 well on December 6 at the end of the expired 90 day production test period. Current production is 690 BOPD with an additional approximately 530 BOPD shut-in (total current production capacity of 1,220 BOPD) until the approval of the L53-G production Environmental Impact Assessment ("EIA") anticipated in mid-January 2014. Two additional well work overs are planned between now and year-end 2013.
Concession L53 Operations
On September 27, EIA approval was received for eight surface locations with four wells per surface location (thirty-two wells total). Three of these approved surface locations are over the high impact L53 "A" Central prospect with construction on one surface location to commence prior to year end with drilling anticipated to commence in February 2014.
On September 9 the L53-G production EIA was submitted with approval now anticipated in mid-January 2014. On August 13 the production license application for the L53-G discovery was submitted with approval also anticipated in January 2014. Both production EIA and production license approvals are required to commence long term production that is not subject to 90 day test periods.
EIA applications for an additional six surface locations on Concession L53 and two surface locations on Concession L45 were submitted in early December 2013 with an approximately one month delay due to a number of the locations being covered by water, not allowing the collection of soil samples. Two of the Concession L53 surface locations are over the highly prospective L53-A North prospect located in the northern portion of Concession L53 that was identified on the new 3D seismic acquired in 2013. Tentative plans are for the drilling of the L53-A North prospect and one exploration well in Concession L45 in late Q2 2014 after the drilling of the L53 "A" Central well in February 2014.
Canada Operations
Sawn Lake Heavy Oil Project (Andora Energy, owned 71.8% by Pan Orient, has a 50% Working Interest & Operator)
At the Sawn Lake demonstration project drilling of the first SAGD well pair has been completed, final site preparation and construction is underway, and equipment for the facility is ready for installation. Steam injection at the Sawn Lake SAGD demonstration project is scheduled for the end of January 2014, with production anticipated early in the second quarter of 2014.
