Mr. Jeff Chisholm reports
PAN ORIENT ENERGY CORP. L53-DD1 OIL DISCOVERY- 779 BOPD
Pan Orient Energy Corp.'s L53-DD1 exploration well is on a 90-day production test and currently producing at a steady state of between 778 and 784 barrels per day of 23.6 degree API oil with a BS&W (basic sediment and water) of 0.4 per centfrom the DD sand through 5.2 metres of perforations between the depths of 1,157.2 and 1,162.4 metres (1,116.4 to 1,121.3 metres oftrue vertical depth).L53-DD1 has averaged 779 barrels of oil per day during the past five days of testing.The well is on beam pump with the fluid level at surface.Production from the DD sand will continue for the remainder of the 90-day test period. Test results are not necessarily indicative of long-term performance or of ultimate recovery.
The DD sand at L53-DD1 is the deepest of three oil-bearing sands and represents eight metres of the 26 metres of total interpreted net oil pay encountered in the well.
The L53-DD2 well commenced a 90-dayproduction test of the EE sand on Nov. 26, 2018, the same day approval was received from the Thailand Department of Mineral Fuels.The well is on beam pump and currently in the cleanup phase.It is anticipated that test results will be released early next week, once the well has stabilized.The planned first quarter of 2019 Thailand drilling program will also be presented at this time.
Pan Orient is an oil and gas exploration and production company based in Calgary, Alta., with operations currently located onshore Thailand, Indonesia and in Western Canada.
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